Owing to the introduction of technologically-superior products by leading manufacturers of imaging solutions, 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.
China thermal imaging market size, by end-use, 2017 & 2024 (USD Million)
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.
Automotive sector to retain the top spot across the end-use landscape of thermal imaging industry
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.
Complementing the long list of high-grade systems mentioned above are the products being unveiled by thermal imaging market which have been creating quite a buzz across the hybrid, autonomous, and aftermarket segments of the global automobile sector. In January this year, the U.S. based Seek Thermal showcased its first ever high-resolution thermal imaging camera for automotive aftermarket at the Consumer Electronics Show. Known for developing outstanding thermal imaging products and core platforms, the company has set an affordable price of the latest camera at less than USD 999.
Elaborating further, the new camera seamlessly integrates with the existing automotive infotainment systems and has been equipped with a 320 x 240 high-resolution thermal sensor which provides maximum image clarity. Designed to enhance overall road safety, the sensor alerts the driver of potential hazards and provides real-time thermal data to decrease the probability of accidents caused by darkness, rain, fog, snow, and glare.
In this regard, the aforementioned instance of Seek Thermal apparently underscores the significance of the efforts undertaken by firms partaking in thermal imaging industry which has a crucial role to play in ensuring autonomous vehicles ply on the road in the near future. In fact, a research report put together by Global Market Insights, Inc., revealed that the automotive sector has acquired a prominent place across the end-use landscape of thermal imaging industry and is forecast to rake in more than USD 900 million in terms of revenue by 2024.
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.
Powered by a vast expanse of end-use domains including residential, industrial, healthcare & life science, government & defense, commercial, and automotive, the commercialization scale of thermal imaging industry can fittingly be termed as humongous. Moreover, the rising technological expertise and increasing product demand across various business verticals would undoubtedly chart out a favorable progression curve for the thermal imaging market in the times to come.