Thermal imaging market to be worth over $16bn by 2026

Thermal imaging market to be worth over $16bn by 2026

According to a recent study from market research firm Global Market Insights, The Thermal imaging market has emerged as one of the most profitable niche verticals of the global electronics and media industry. The recent launch of Leonardo DRS, Inc.’s innovative Tenum™ 640 thermal imager stands testimony to the pioneering efforts being put in by major firms to develop high-performance systems for a variety of applications. Reportedly, Tenum™ 640 is being regarded as the most advanced uncooled 10-micron thermal camera core currently available in the fast-evolving thermal imaging industry.

Predominantly designed for original equipment manufacturers, the latest imager is said to be ideal for personal vision systems utilized in outdoor sporting, ground and aerial unmanned platforms for first responders, and other security and surveillance applications. Moreover, Tenum™ 640 thermal imager represents the most advanced and cost-effective breed of devices manufactured with the uncooled technology which has been garnering immense popularity across thermal imaging market.

Speaking in the similar context, the aforementioned instance further reinforces the prominence of uncooled technology in this business sphere. The recent developments in the said technology have resulted in the widescale adoption of thermal imaging devices in a diverse set of applications along the likes of personal vision systems, industrial imaging, residential security, and surveillance.

In fact, the uncooled technology segment of thermal imaging industry has been making swift progress in the recent years with the overall revenue collection of the segment estimated at USD 2.5 billion in the year 2017. The unveiling of more cost-effective products would further enhance the stance of uncooled technology segment in the thermal imaging market space.

Over the last few decades, the pace at which global automotive sector has adopted and deployed advanced technologies can aptly be termed as astronomical. Today’s safest cars are equipped with a plethora of sophisticated systems such as long and medium-range radar, ultrasound devices, LIDAR, and high-resolution cameras. These systems have been instrumental in improving the effectiveness of safety features including adaptive cruise control, brake assistance and collision avoidance, cross-traffic alerts, lane-change assistance, and blind-spot detection.

Technological developments apart, it is vital to note that the high cost of thermal imaging devices such as cooled cameras is likely to hinder the industry expansion over the estimated timeframe. However, renowned thermal imaging market players have been focused on research and development activities that would most probably bring down the prices of several imaging devices in the forthcoming years.

Recently, Seek Thermal, the U.S. based company has unveiled its latest high-resolution thermal imaging camera at the Consumer Electronics Show for automotive aftermarket. Reportedly this new camera can be seamlessly incorporated with existing infotainment systems.

Equipped with thermal sensors of 320 x 240 resolution capacity, this new thermal imaging camera by the company claims to provide high image clarity. Complementing with its outstanding features, the news that the latest camera is available at quite an affordable price further adds to its positioning in thermal imaging industry.

The global market key players are 3M Scott Fire & Safety, American Technologies Networking Corporation, Allied Vision Technologies GmbH, Avon Protection Systems, Inc., Axis Communications AB, BAE Systems, Cox, Dragerwerk AG & Co. KGaA, FLIR Systems, Inc., Fluke Corporation, General Starlight Company, Inc., L3 Technologies, Leonardo DRS, Magnity Electronics Co., Ltd., Opgal Optronic Industries Ltd., Palmer Wahl, Instrumentation Group, Raytheon Company, Seek Thermal, Inc., Testo SE & Co. KGaA, Thermoteknix Systems, Tonbo Imaging, ULIS, Wuhan Guide Infrared Co., Ltd., Xenics NV, Zhejiang Dali Technology Co., Ltd.