The thermal scanners market size is projected to reach US$ 10.73 billion by 2031 from US$ 5.36 billion in 2023. The market is expected to register a CAGR of 9.1% in 2023–2031. The rising demand for high-end automobiles is likely to remain a key thermal scanners market trend.
The thermal scanners market is growing at a rapid pace due to the increasing demand for thermal scanners in commercial and healthcare sectors and increasing investment in research & development for developing innovative thermal scanners. The market is expanding steadily, driven by the growing installation in various public places including airports, hospitals, and others for detection purposes. Moreover, expanding thermography applications, technological advancements, and integration of artificial intelligence & facial recognition technologies are providing lucrative opportunities for market growth.
Infrared thermal scanners are non-invasive imaging instruments that detect heat generated by any object and transform it into electrical signals. Their applications have grown throughout time in a variety of settings, including industrial operations, therapeutic treatment centers, research laboratories, and police enforcement, among others. The diversification and growth of many applications have increased thermal scanner sales across several economies in recent years.
Thermal scanners are highly in demand in the commercial and healthcare sectors for security and surveillance applications. The growing need for security and surveillance applications associated with the high need for greater security among employees and residents is driving the market. Thermal scanners offer a high return on investment (ROI) to the users owing to their low-cost availability as compared to CCTV systems. The total installation costs of a thermal camera-based security system are far lower than that of a CCTV system, which increases its adoption in the commercial and healthcare sectors. However, increasing investment in infrastructure systems by commercial and healthcare sectors, combined with the requirement for professional surveillance, is expected to drive the market.
Thermography is highly used in the medical industry for monitoring blood pressure, cardiac surgery, diagnosis of liver diseases, and detecting breast cancer, among others. The thermography application uses an infrared camera deployed in a thermal scanner to helps in detecting blood flow and heat patterns in bodily tissues. Moreover, growing spending from the medical industry and increasing research & development activities towards the development of advanced thermal scanners are generating significant growth opportunities for the market during the forecast period.
Key segments that contributed to the derivation of the thermal scanners market analysis are type, wavelength, and end use.
The geographic scope of the thermal scanners market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. In terms of revenue, North America accounted for the largest thermal scanners market share, due to expanding aerospace and defense industry.
The market in Asia Pacific is anticipated to expand in the near future, attributed to many vendors providing low-cost solutions, which increases demand for thermal scanners among end users. Increasing investment and expanding numerous industries, including Industrial, aerospace and defense, automotive, oil and gas, and others, are creating opportunities in the market. These industries are highly adopting thermal scanners for surveillance purposes, which prompts mass production. Thus boosting the market during the forecast period.
The regional trends and factors influencing the Thermal Scanners Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Thermal Scanners Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 5.36 Billion |
| Market Size by 2031 | US$ 10.73 Billion |
| Global CAGR (2023 - 2031) | 9.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Thermal Scanners Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Thermal Scanners Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The thermal scanners market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for thermal scanners and strategies:
The “Thermal Scanners Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The incremental growth expected to be recorded for the global thermal scanners market during the forecast period is US$ 5.37 billion.
The key players holding majority shares in the global thermal scanners market are FLIR Systems, Inc., AMETEK Inc., Robert Bosch GmbH, 3M, and Leonardo.
The global thermal scanners market is expected to reach US$ 10.73 billion by 2031.
The rising demand for high-end automobiles to play a significant role in the global thermal scanners market in the coming years.
The increasing demand for thermal scanners in commercial and healthcare sectors and increasing investment in research & development for developing innovative thermal scanners are the major factors that propel the global thermal scanners market.
The global thermal scanners market was estimated to be US$ 5.36 billion in 2023 and is expected to grow at a CAGR of 9.1% during the forecast period 2023 - 2031.