New York, April 19, 2023 (GLOBE NEWSWIRE) -- The Infrared Thermography Market revenue was estimated at US$ 55.4 million in 2021 by Persistence Market Research (PMR). It is anticipated to grow at a CAGR of 7.2 % from 2022 to 2032, and reach US$ 115 billion over the forecast period (2022 to 2032).
Demand for infrared thermography technology used in building & construction industry is expected to rise at a CAGR of 6.9% from 2022 to 2032.
Infrared thermography is also referred to as thermal imaging. It is a technology that enables us to detect, measure, and transform infrared radiation emitted by objects into visible images. It finds applications in a wide range of sectors such as the detection of heat leaks in structures, the location of electrical hotspots in machinery, and the monitoring of machinery and process temperatures.
Beyond the mechanical and electronic sector applications, it is also widely used in the medical sector. Medical professionals use it for the detection of diseases like breast cancer or inflammation.
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Infrared thermography is frequently used in the construction sector for a variety of purposes. These include building inspections and concrete inspections.
A building's heat loss can be detected using infrared thermography, which can also reveal insulation issues, air leaks, or moisture intrusion. Contractors can use this to determine what needs to be fixed or improved.
This helps in providing increased energy efficiency and lowers heating and cooling costs. The detection of delamination, cracking, and other flaws in concrete construction can also be accomplished using infrared thermography.
Early detection of these problems allows contractors to address them before they worsen and become more expensive to resolve. This makes them highly attractive for use in the construction sector.
Key Takeaways from the Infrared Thermography Market Report
- Global infrared thermography demand is set to rise at 7.2% CAGR from 2022 to 2032.
- By application, building technology segment will progress at 6.9% CAGR through 2032.
- Based on type of thermometer, infrared thermal imaging cameras segment is projected to exhibit a CAGR of 6.7%.
- The USA infrared thermography industry revenues will reach US$ 16.7 million by 2032.
- Sales of infrared thermography solutions in China are likely to rise at 8.1% CAGR over the next decade.
- The United Kingdom infrared thermography industry will cross a valuation of US$ 5.7 million by 2032.
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Competitive Analysis:
The market players are investing heavily in research and development for new and efficient products. The companies are also focusing on product launches to augment their market positions.
Recent developments in the infrared thermography market:
In March 2020 – FLIR systems announced the launch of Ranger HDC MR, a High-Definition Mid-Range surveillance system. This technology can be beneficial in improving border and infrastructure security as well as the ability to detect illegal activities in ports and at borders.
More Insights Available
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the infrared thermography market presenting historical data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
The study reveals segments in terms of
- Technology (active IR thermography, and passive IR thermography),
- Subsector (commercial, residential, and defense),
- Application (night vision thermography, security & surveillance, transportation, unmanned systems, building technology),
- Infrared thermometers type (spot infrared thermometers, infrared scanner systems, infrared thermal imaging cameras),
- Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) from 2022 to 2032.
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