Condition-based monitoring (CBM) has emerged as a critical instrument for lowering the cost of unplanned operations while also improving the efficacy, execution, and dependability of tools. Thermal abnormalities can be thoroughly examined using thermography for condition monitoring. Thanks to the advent of high-resolution infrared cameras, researchers are paying more attention to thermography as a non-contact approach for monitoring the temperature rise of objects and as a technique in great experiments to analyze processes thermally. It also allows for the early identification of weaknesses and failures in equipment while it is in use, decreasing system downtime, catastrophic failure, and maintenance expenses. In many applications, the usage of IRT as a condition monitoring approach has steadily increased during the previous three decades. Infrared cameras are steadily finding use in research and development, in addition to their routine use in condition monitoring and preventative maintenance. This study focuses on infrared crucial thermographic theoretical stages, experimental methodologies, relative and absolute temperature requirements, and infrared essential thermographic theoretical processes for electrical and electronics energy applications. Furthermore, this article addresses the major concerns and obstacles and makes some specific recommendations for future development. With developments in artificial intelligence, particularly computer fiction, depending on the present deep learning algorithm, IRT can boost CBM analysis.