Market Insights - Global Portable Thermal Imagers Market

Market Overview

Thermal imager is a temperature measuring instrument. Thermal imagers are also known as thermographic camera, infrared camera, and thermal imaging camera. There are two types of thermal imagers, portable and fixed. These thermal imagers are non-contact type, which means that there is no physical contact between the material, of which temperature needs to be measured, and the instrument. Thermal imagers detect the infrared energy emitted, transmitted or reflected by all materials. The device creates similar images as made by regular camera but with infrared radiation.

The global portable thermal imagers market is estimated to account for US$ 2,540.0 Mn in terms of value by the end of 2019.

Market Dynamics- Drivers

  1. Modernization of military equipment is expected to drive the global portable thermal imagers market growth during the forecast period

Portable thermal imagers are largely used in modern military equipment for soldiers to navigate in difficult situations. Increasing incidence of terrorist attacks have compelled security forces and other agencies to upgrade their equipment. According to a report published by The Stimson Center, a U.S.-based NGO, in February 2012, an attack happened in Mumbai, India in 2008, which killed over 170 people and wounded over 300 people. After this incident, during 2009-10, the Government of India increased defense budget by 34% from previous year to upgrade the country’s defense infrastructure and military equipment. This trend of modernization of military equipment is continued in India and other countries such as China, the U.S., Russia, and others. For instance, in 2019, China increased its budget by 7% when compared to previous year from US$ 165 billion to US$ 172 billion. Therefore, modernizing of military equipment is expected to drive growth of the global portable thermal imagers market, as portable thermal imager is used in military equipment.

North America region held dominant position in the global portable thermal imagers market in 2018, accounting for 41% share in terms of value, followed by Europe, North America, Middle East & Africa, and Latin America.

Portable Thermal Imagers  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. Competitive pricing by new entrants in Asia Pacific companies is expected to restrain growth of the global portable thermal imagers market over the forecast period

Intense competition among manufacturers of portable thermal imagers is expected to restrain the market growth in the near future. The manufacturers of portable thermal imagers in China and India have easy access to cheap raw materials and labors, which allows them to produce low priced products. This, in turn, is expected to hamper the global market players significantly. Increasing functionality and performance, coupled with decreasing prices in developed economies such as North America and Europe have made it challenging for key market players to compete with manufacturers from emerging economies. This is expected to hinder the market growth over the forecast period.

  1. High initial cost of portable thermal imagers is expected to hamper the global portable thermal imagers market growth during the forecast period

The initial cost of this equipment is much higher than the currently used contact type temperature detection instrument. Therefore, companies are hesitant in investing in portable thermal imagers. This is expected to hamper growth of the global portable thermal imagers market over the forecast period.

Market Opportunities

  1. An increasing use of portable thermal imagers in the healthcare sector is expected to create lucrative growth opportunities to key players

Portable thermal imagers are used predominantly in the healthcare sector for determining body temperature, as body temperature is an essential indicator of people’s health. By measuring temperature using infrared camera systems, it offers few specific advantages for doctors as well for patients. There are various diseases, which can be diagnosed with the help of temperature. The portable thermal imagers are useful for detection of breast cancer at an early stage. Therefore, increasing prevalence of breast cancer is expected to result in increasing adoption of portable thermal imagers. This, in turn, is expected to create lucrative growth opportunities for the market players during the forecast period.

  1. Increasing demand for mobile thermal imagers is expected to create lucrative growth opportunities for key players.

The advancements in technologies has enabled the production of portable thermal imagers that can be connected to Android smart phone devices. This portable mobile device is the smallest and the lightest thermal imagers available so far. Moreover, mobile type thermal imagers require significantly low energy, it is smaller in size, and operate on low voltage. These factors are expected to provide growth opportunities for key players.

The global portable thermal imagers market was valued at US$ 2,540 Mn in 2019 and is expected to reach US$ 5,210.0 Mn by 2027, at a CAGR of 9.4 % between 2019 and 2027.

Market Trends

  1. Significant growth potential in emerging economies

The increasing industrialization in emerging economies of Eastern Europe, Latin America, and APEJ are creating lucrative environment for portable thermal imagers market. This, in turn, is expected to drive the global portable thermal imagers market growth in these regions. For instance, according to Coherent Market Insights’ analysis, Asia Pacific region is expected to witness highest CAGR during the forecast period, followed by Eastern Europe. An increasing population in Asia Pacific and Middle East & Africa is expected to boost the global portable thermal imagers market growth.

Competitive Landscape

Key players operating in the global portable thermal imagers market include Flir Systems Inc., BAE Systems PLC, Thales Group, Safran Electronics and Defense, Elbit Systems Ltd., Seek Thermal Inc.,  Fluke Corporation, American Technologies Network Corporation, Thermoteknix Systems Ltd., Raytheon Company, Leonardo DRS , OMEGA Engineering Inc., Visma Instruments and Technologies Pvt. Ltd., and others.

Key Developments

  1. Key players in the market are focused on adopting strategies such as product launch, in order to gain competitive edge in the market. For instance, in May 2017, Caterpillar Inc., a U.S.-based construction machinery and equipment company, entered into a strategic partnership with FLIR Systems, Inc., a U.S.-based company, to launch new smart phone device Cat S60 and S61. These smartphones are equipped with portable thermal imagers and works on android software.
  2. Key companies in the market are involved in product development, in order to expand their product portfolio. In February 2018, FLIR Systems Inc. launched the FLIR M232 marine thermal night vision camera that belongs to the FLIR M100 and M200 series.

Portable thermal imager is a device, which captures and creates an image of a targeted object by using infrared radiation emitted from the object and this process is called thermal imaging. Portable thermal imager is also known as thermo-graphic camera, infrared camera or thermal imaging camera. Thermal imager is of two types, cooled type and non-cooled type. Thermal imagers are mainly used in defense,            public safety, industrial (oil and gas, utility, etc.), healthcare, and others. Thermal imagers are used for border security to restrain cross border activities and illegal immigrations. It is also used in search and rescue operations, as these operations are difficult to be carried out at low visibility conditions. Portable thermal imagers are used to locate the target in such cases.

Market Dynamics

Portable thermal imagers are used in ship and airplane guidance system. In aviation industry, it is used to prevent accidents caused due to low visibility and help to fly in low light and night conditions. Apart from aviation, portable thermal imagers are also used in autonomous car industry. Autonomous cars are integrated with various sensors and camera for inputs such as road condition and animal or human presence on the road. This input is then transferred to computer to take real-time decision to drive. Portable thermal imagers are used to obtain a 360° view of road condition when regular vehicle is in autonomous mode. When camera fails to provide the data due to low visibility condition, thermal imagers are used to detect human presence on road. Therefore, portable thermal imagers are extensively used in vehicles. These factors are expected to drive growth of the global portable thermal imagers market over the forecast period.

However, high initial cost and stiff competition among key players are expected to hamper growth of the portable thermal imagers market over the forecast period.

Market Taxonomy

The global portable thermal imagers market is segmented on the basis of technology, application, end-use industry, and region. On the basis of technology, the market is segmented into cooled and uncooled. On the basis of application, the market is segmented into detection & measurement, monitoring & inspection, personal vision systems, search & rescue, security & surveillance, and others. On the basis of end-use industry, the market is segmented into defense, public safety, industrial (oil and gas, utility, etc.), healthcare, and others. On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global portable thermal imagers market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by leading players
  • It profiles leading players in the global portable thermal imagers market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies players operating in the global portable thermal imagers market include Flir Systems Inc., BAE Systems PLC, Thales Group, Safran Electronics and Defense, Elbit Systems Ltd., Seek Thermal Inc., Fluke Corporation, American Technologies Network Corporation, Thermoteknix Systems Ltd., Raytheon Company, Leonardo DRS, OMEGA Engineering Inc., Visma Instruments and Technologies Pvt. Ltd., and others
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet increasing needs and requirements of consumers
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global portable thermal imagers market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global portable thermal imagers market

Detailed Segmentation:

  •  Global Portable Thermal Imagers Market, By Technology:
    • Cooled
    • Uncooled
  •  Global Portable Thermal Imagers Market, By Application:
    • Detection & Measurement
    • Monitoring & Inspection
    • Personal Vision Systems
    • Search & Rescue
    • Security & Surveillance
    • Others
  • Global Portable Thermal Imagers Market, By End-use Industry:
    • Defense
    • Public Safety
    • Industrial (Oil and Gas, Utility, etc.)
    • Healthcare
    • Others
  • Global Portable Thermal Imagers Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Flir Systems Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • BAE Systems PLC
    • Thales Group
    • Safran Electronics and Defense
    • Elbit Systems Ltd.
    • Seek Thermal Inc.
    • Fluke Corporation
    • American Technologies Network Corporation
    • Thermoteknix Systems Ltd.
    • Raytheon Company
    • Leonardo DRS
    • OMEGA Engineering Inc.
    • Visma Instruments and Technologies Pvt. Ltd.

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Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Technology
      • Market Snippet, By Application
      • Market Snippet, By End-use Industry
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Portable Thermal Imagers Market, By Technology, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2027 (%)
      • Segment Trends
    • Cooled
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Uncooled
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Portable Thermal Imagers Market, By Application, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2027 (%)
      • Segment Trends
    • Detection & Measurement
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Monitoring & Inspection
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Personal Vision Systems
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Search & Rescue
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Security & Surveillance
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Portable Thermal Imagers Market, By End-use Industry, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2027 (%)
      • Segment Trends
    • Defense
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Public Safety
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Industrial (Oil and Gas, Utility, etc.)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Healthcare
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. Global Portable Thermal Imagers Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2018 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Israel
        • GCC Countries
        • Rest of the Middle East
        • South Africa
        • Central Africa
        • North Africa
  8. Competitive Landscape
    1. Company Profiles
      • Flir Systems Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • BAE Systems PLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Thales Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Safran Electronics and Defense
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Elbit Systems Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Seek Thermal Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Fluke Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • American Technologies Network Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Thermoteknix Systems Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Raytheon Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Leonardo DRS
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • OMEGA Engineering Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Visma Instruments and Technologies Pvt. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users