Thermal Scanners Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 - 2027

The global Thermal Scanners market size is expected to be worth around US$ 4.8 billion by 2027, according to a new report by Vision Research Reports.

The global Thermal Scanners market size was valued at US$ 3.3 billion in 2019 and is anticipated to grow at a CAGR of 8.11% during forecast period 2020 to 2027.

Growth Factors

Rising product demand for mass screening amid the COVID-19 crisis and growing adoption in the aerospace and defense sector for security and surveillance applications are major factors propelling the market growth. The pandemic has changed the approach of key players to market these products as potential devices to be deployed against the spread of coronavirus.

The demand for non-destructive material testing with enhanced safety standards in various industries is expected to propel the growth. The growing need for low-cost devices in the commercial and healthcare sector is expected to further augment the product demand.

Report Highlights

The fixed thermal scanner segment accounted for the largest revenue share of over 65% in 2019, owing to the increasing adoption in the industrial and healthcare sectors. These scanners offer a versatile, accurate, and reliable scanning solution for continuous temperature measurement applications in the ceramics, steel, and other processing industries. Moreover, they reduce human interference and can be deployed with the existing systems such as security gate or biometric entrance.

The automated temperature tracking is expected to become a standard procedure at public places considering the global impacts of COVID-19. These are the fixed systems that provide reliable and real-time temperature measurement of large groups of people. Key players are working on developing such automated monitoring systems for commercial buildings and airports. For instance, Amorph Systems GmbH and VantIQ, Inc., are working with hardware development partners, including camera vendors such as Hangzhou Hikvision Digital Technology Co., Ltd. (Hikvision) to develop continuous detection and monitoring solution.

Handheld thermal scanners are likely to witness robust growth over the forecast period owing to high adoption in commercial applications. The recent coronavirus outbreak has caused a significant demand for handheld scanner across several community places, including airports, metro stations, factories, and commercial buildings. Besides, it serves the purpose of social distancing as it allows the user to take temperature measurements from a safe distance. The technological advancement such as integrated thermal imaging ability in the smartphone is expected to bolster the growth of the industry.

The Long-Wave Infrared (LWIR) accounted for the largest revenue share of over 77% in 2019 and is expected to continue its dominance over the forecast period. LWIR offers several benefits such as low power, weight, and size as compared to the MWIR. Besides, LWIR has played a crucial role in the defense and security sector for decades as it can detect the objects independent of ambient lighting. Recent advancements in fabrication and low-cost have made LWIR scanners easily accessible to industrial and consumer applications.

The MWIR segment is expected to grow at a substantial rate over the forecast period. MWIR is usually preferred for the long-range surveillance application, satellite-based weather profile monitoring, medical diagnosis, and deforestation mapping. The advancement in High Operating Temperature (HOT) MWIR and dual-color detector designs facilitated the use of these cameras for various applications, which was earlier dominated by LWIR cameras. In December 2018, FLIR Systems, Inc. launched it's first High Operating Temperature (HOT) MWIR thermal camera core, which is small, lightweight, and low power consuming core suitable for drone surveillance applications. However, the MWIR cameras are usually very expensive for long-range applications and thus are used for specific military usages such as intelligence, surveillance, and reconnaissance.

The aerospace and defense end-use segment accounted for the largest revenue share of around 22% in 2019 and is anticipated to maintain its dominance over the forecast period. Thermal imaging is a boon to military applications owing to the ability to perform in all weather conditions. The technology is widely used in ship collision avoidance and guidance systems, border surveillance, law enforcement, and structural health monitoring of aircraft. There has been increased integration of thermal cameras with other solutions, including radar to improve redundancy, alarm verification, and long-range detection for airports and other large sites.

The industrial segment captured significant revenue share in 2019. The low pricing of technology has opened a new market for thermal imaging solutions in mainstream applications. Nowadays, thermal imaging technology is not only limited to security and surveillance application but also used for predictive maintenance across different industry verticals. Manufacturing facilities, refineries, and substations are using thermal cameras and scanners to remotely scrutinize the equipment, recognize components at risk of overheating, and retort before a component fails. Moreover, industries such as food processing and carpet manufacturing where the heat is utilized for the production can be benefited by the technology to enhance and automate the fire safety control.

There has been a surge in the use of thermal scanners in the automotive sector. Earlier, due to the high cost, the technology was available in a selected number of high-end automobile models. Risky driving factors including glare, darkness, animal crossing in the night, and highly populated areas can be reduced with the help of thermal cameras, increasing the overall road safety and driver awareness. These cameras can be easily integrated with existing infotainment systems, making it easier to add the technology at a market-leading price point. Besides, in the coming years, thermal imaging technology is expected to gain momentum in road safety and railway application.

The North America regional market captured the highest revenue share of over 41% in 2019. The U.S. is expected to witness significant growth due to its flourishing defense industry. The presence of leading companies such as FLIR Systems, Inc.; Fluke Corporation; and L3harris Technologies, Inc. is boosting the market growth in the U.S. The increasing demand in commercial applications in Canada is also expected to drive the regional market. Recently, in August 2019, British Columbia Ferry Services Inc. (BC Ferries) installed thermal imaging cameras to monitor threatened marine mammals.

Asia Pacific is expected to expand at the highest CAGR over the forecast period. China accounted for the largest revenue share in the region. The growth can be attributed to various vendors offering low-cost solutions, which in turn is expected to boost demand in this pandemic. The outbreak in China has resulted in the exponential demand for thermal scanners compelling companies towards mass production. The region is putting efforts in research and development to combat the outbreak. As a result, Wuhan Guide Infrared Co., Ltd. announced that Chinese public transport infrastructure should be equipped with a thermal scanner system driven by Artificial Intelligence (AI) facial detection technology.

Key Players

• FLIR Systems, Inc.

• Fluke Corporation

• Leonardo S.p.A.

• L3Harris Technologies, Inc.

• Opgal Optronic Industries Ltd.

Market Segmentation

Thermal Scanners Type Outlook 

• Handheld

• Fixed

Thermal Scanners Wavelength Outlook 

• Short-Wave Infrared (SWIR)

• Mid-Wave Infrared (MWIR)

• Long-Wave Infrared (LWIR)

Thermal Scanners End-use Outlook 

• Industrial

• Healthcare

• Aerospace & Defense

• Automotive

• Oil & Gas

• Commercial

• Others

Thermal Scanners Regional Outlook 

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

  • Italy

• Asia Pacific

  • China

  • Japan

  • India

• Latin America

  • Brazil

  • Mexico

• Middle East and Africa

The Thermal Scanners market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Thermal Scanners market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Thermal Scanners market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Thermal Scanners market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Thermal Scanners market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Thermal Scanners capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Thermal Scanners by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Thermal Scanners market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Thermal Scanners market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Thermal Scanners market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Thermal Scanners industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Thermal Scanners market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Thermal Scanners market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Thermal Scanners market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Thermal Scanners market. These factors have benefited the growth of the global market for Thermal Scanners. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Thermal Scanners. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Thermal Scanners are as follows:

• Historic Year: 2016-2019
• Base Year: 2020
• Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.