Infrared Thermography Market Size, Share & Growth

Updated on : October 23, 2024

Infrared Thermography Market Size & Growth

[224 Pages Report] The global infrared thermography market size for building inspection is estimated to be worth USD 445 million in 2023 and is projected to reach USD 606 million by 2028, growing at a CAGR of 6.4% during the forecast period 2023 to 2028 Growing demand for smart buildings is one of the major opportunities that lies ahead for market growth.

Infrared Thermography Market size Forecast to 2028

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Infrared Thermography Market Trends

Driver: Increasing emphasis on energy efficiency and sustainability

Infrared thermography enables precise identification of areas requiring repairs or retrofitting to improve energy efficiency. This targeted approach helps allocate resources more effectively and avoid unnecessary interventions, resulting in optimized energy consumption and reduced operational costs. Efforts to enhance energy efficiency through infrared thermography inspections lead to significant cost savings in the long run. By addressing energy-related issues promptly, building owners can cut down on energy bills and operational expenses.

Restraint: Initial investment and training costs

Adopting infrared thermography for building inspection necessitates an upfront investment in thermal imaging equipment, which includes high-quality infrared cameras and associated hardware and software. These initial costs can be significant, especially for small businesses or organizations with limited budgets. Maintaining thermal imaging equipment, ensuring its accuracy, and calibrating it periodically adds to the overall costs. Regular maintenance is crucial to preserving the quality of thermal images and ensuring reliable results during inspections.

Opportunity: Growing demand for smart buildings

Smart and green buildings prioritize energy efficiency and sustainable practices. Infrared thermography is a valuable tool for assessing the thermal performance of building envelopes, insulation systems, and HVAC systems. Integrating infrared thermography with building automation systems enhances overall building management. By regularly monitoring thermal conditions, smart buildings can trigger automated responses to rectify temperature anomalies or potential energy wastage, optimizing energy consumption and reducing operational costs.

Challenge: Data analysis and reporting complexity

Data analysis and reporting in infrared thermography for building inspection can be complex due to the nature of the data collected and the need to accurately interpret and communicate. Infrared inspections generate a significant number of thermal images, especially for larger buildings or complex structures. Managing and analyzing these large data sets can be challenging, requiring efficient data storage, organization, and retrieval systems. Interpreting thermal images requires a deep understanding of building materials, construction techniques, and heat transfer principles. Thermographers must be able to distinguish between normal temperature variations and anomalies that could indicate defects or issues.

Infrarred Thermography Market for Building Inspection: Ecosystem

The infrared thermography Industry for building inspection is marked by the presence of a few tier-1 companies, such as Teledyne FLIR LLC (US), Fluke Corporation (US),  and Axis Communications AB (Sweden), and many more. These companies have created a competitive ecosystem by investing in research and development activities to launch highly efficient and reliable thermal imaging offerings.

Infrared Thermography Market Share

The market for thermal modules to hold second largest market share during the forecast period

The growth of thermal modules for thermal imaging has surged due to technological advancements, reduced costs, and diversified applications. These modules have become smaller, with higher resolution and better image quality, finding use in industries from defense to consumer electronics. Integration with IoT and connectivity has expanded real-time monitoring capabilities. Regulatory standards and increasing market competition have further fueled innovation and accessibility.

Unmanned segment by Solution type to hold highest CAGR during the forecast period

These cameras have become more sophisticated, offering higher resolution and improved image processing. They find applications in various sectors, including surveillance, industrial inspections, agriculture, and search and rescue. As automation and AI integration increase, unmanned thermal imaging cameras are poised to play a pivotal role in enhancing efficiency, safety, and data-driven decision-making.

Fire/Flare Detection application to hold second highest market share during the forecast period

Fire and flare detection using thermal imaging has gained significant importance due to its effectiveness in early detection and prevention. Thermal imaging technology detects heat signatures, making it ideal for identifying fires and flares, especially in challenging environments. These systems are crucial for industrial facilities, oil refineries, and hazardous areas.

Infrared Thermography Market Regional Analysis

Asia Pacific held to register highest CAGR in the infrared thermography market for building inspection during forecast period

The Asia Pacific region has witnessed significant growth in thermal imaging, driven by robust infrastructure development. This technology plays a crucial role in construction quality control, power infrastructure maintenance, industrial predictive maintenance, and enhancing security across sectors. The technology continues to advance, and its applications are expanding to new areas, promoting safety, efficiency, and innovation in the region.

Infrared Thermography Market Size by Region

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Top Infrared Thermography Companies - Key Market Players:

The overall Infrared Thermography companies is dominated by The key players in include

• Teledyne FLIR LLC (US),
• JENOPTIK AG (Germany),
• SKF (Sweden),
• Fluke Corporation (US),
• Raytheon Technologies Corporation (US),
• Axis Communications AB (Sweden), Inc,
• Xenics nv (Belgium),
• Zhejiang Dali Technology Co.,Ltd. (China),
• OPGAL Optronics Industries Ltd (Israel),
• InfraTec GmbH (Germany),
• Seek Thermal (US),
• Infrared Cameras Inc. (US) and
• Allied Vision Technologies GmbH (Germany). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the market.

Infrared Thermography Market Report Scope :

Infrared Thermography Market Highlights

The study segments the infrared thermography market for building inspection based on By Application, By Product Type, By Building Type, By Solution and By Region

Recent Developments In Infrared Thermography Industry

• In February 2023, Xenics nv (Belgium) launched Lynx R and XSL R series and expanding its linear SWIR camera portfolio. Linear SWIR cameras are available for demanding applications such as food sorting, machine vision, spectroscopy, optical fibre monitoring, semiconductor inspection, LIDAR sensing and spectral-domain optical coherence tomography.
• In November 2022, Teledyne FLIR launched FLIR ONE Edge Pro, a wireless thermal-visible camera for mobile devices. Unlike previous models, the reimagined FLIR ONE Edge Pro need not be physically connected to its companion mobile device, providing maximum thermal inspection flexibility.
• In May 2021, Teledyne Technologies acquired FLIR Systems, a leading provider of thermal imaging solutions. The acquisition allowed Teledyne to enhance its portfolio by integrating advanced thermal imaging technology and expanding its capabilities in the defense, industrial, and commercial markets.

Frequently Asked Questions (FAQs)

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