Report: Thermal Imaging Market Expected to Hit $7.59 Billion Globally by 2030
The defense and security sectors are major drivers of global growth. The industrial inspection sector is one of the fastest growing practical applications of thermal imaging.
Thermal imaging has become indispensable in condition monitoring strategies as industry has adopted automated systems and intelligent maintenance solutions. Photo: iStock
According to a new report by The Research Insights, the global thermal imaging market is expected to be worth $4.63 billion in 2023 and reach $7.59 billion by 2030, growing at a CAGR of 7.3%.
The industrial inspection sector is one of the fastest growing practical applications of thermal imaging. Manufacturing plants and energy companies use thermal imaging technology to maintain equipment reliability and improve operational efficiency.
Maintenance personnel use thermal imaging to detect overloaded electrical panels and worn bearings in heavy machinery. The method is non-invasive and provides real-time results that can be used to prevent costly disruptions.
The development of uncooled infrared sensors has led to more compact, affordable, and user-friendly devices that are driving the growth of the thermal imaging industry. Small facilities can now use tools that were previously only available to large industrial companies.
Uncooled thermal cameras are now the preferred choice for tasks ranging from plant maintenance to automotive and security applications. The compact size of the devices allows for easy integration into drones and mobile devices while maintaining full functionality.
Geographical outlook
According to the report, North America will dominate the thermal imaging market with a 32% market share in 2024, thanks to significant defense spending, technological advances, and increased use in industrial inspections and general security operations. The United States is at the forefront of military thermal imaging applications and border control technology and is also leading initiatives for the adoption of smart cities.
The market is growing fastest in the Asia-Pacific region, thanks to rapid industrialisation and infrastructure construction, as well as increased defence spending in China, India, Japan and South Korea.
The European thermal imaging market is strongly committed to sustainable development practices and energy-efficient solutions and manufacturing methods. Germany, France, and the United Kingdom are currently using thermal imaging to streamline industrial inspection processes and monitor renewable energy sources and power grids.
