Shortwave Infrared Market

Report Scope & Overview:

Shortwave Infrared (SWIR) Market Size will be valued at USD 366.58 million by 2030, and it was valued at USD 182.63 million in 2022, and grow at a CAGR of 9.1% over the forecast period 2023-2030.

Shortwave infrared (SWIR) is an advanced electromagnetic spectrum band in the infrared (IR) range. Shortwave infrared is widely used to capture better image quality than visible light images. Images taken in shortwave infrared are directly related to the object. Infrared cameras that detect radiation that is undetectable to the naked eye are known as shortwave infrared cameras. Because of their feature, this technology is widely used in general monitoring thinking and advances in hyperspectral imaging applications.

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MARKET DYNAMICS:

KEY DRIVERS:

• Increased use of SWIR cameras in the military and defense sectors.

• Increase in adoption of SWIR cameras in machine vision applications.

• SWIR detectors have been upgraded in terms of technological features and qualities.

• SWIR cameras are in high demand for a variety of commercial applications.

RESTRAINTS: 

• Import and export of SWIR cameras are subject to strict rules.

OPPORTUNITIES: 

• SWIR cameras are in higher demand for new applications.

CHALLENGES: 

• SWIR cameras have high manufacturing costs.

IMPACT OF COVID-19:

COVID-19 has had a severe impact on the global economy as well as all industries. Governments in several countries have established borders to stop the plague from spreading. The initial phase of the epidemic's global shutdown in many countries has had a significant influence on people's lives and quality of life. As a result, the global supply chain has been shattered. The global economy has shrunk as commodity demand has decreased considerably. Due to the outbreak, which has caused a lack of immature materials, production in all industries has been slowed. Productivity declines are caused by variables such as depreciation and supply chain disruption. The SWIR market has been seeing significant growth over the years due to the high adoption of SWIR technology in both industrial and non-industrial for various applications including security, surveillance, monitoring, and testing. However, the COVID-19 epidemic has led to a slowdown in SWIR market growth. One of the key factors is the decline in demand for SWIR cameras for a variety of applications including industrial process monitoring, industrial furnace monitoring, solar cell testing, test screening, and applications that improve driver perception. The epidemic has halted the acceptance of SWIR cameras due to the huge disruption it has caused to businesses and the global economy. The epidemic has led to a decline in productivity leading to a sharp decline in business inputs.

By Material, the Shortwave Infrared (SWIR) Market is subdivided into Indium Gallium Arsenide, Lead Sulfide, SWIR Market, by Scanning Type, Area Scan, Line Scan, Indium Antimonide, and Mercury Cadmium Telluride.

The market based on the type of scanner is divided into area scanning and line scanning. SWIR scan cameras in the area dominated the SWIR market based on the 2020 model, and the trend is expected to continue during the forecast period. The high position of SWIR scanning cameras in the area can be attributed to their wide range of all precision. Industrial process monitoring, industrial furnace monitoring, solar cell testing, pilot vision enhancement, space photography, and security and surveillance are some of the applications of local SWIR scan cameras.

By Technology, the Shortwave Infrared (SWIR) Market is subdivided into Uncooled Technology and Cooled Technology. The SWIR market is expected to be led by an uncooled segment during the forecast period. The high position of this component may be due to the high demand for industrial & non-industrial SWIR cameras, especially from the military and defense sector due to its low cost compared to SWIR cooler cameras. SWIR-cooled cameras have more sensitive sensors than non-coated SWIR cameras, while the cost of non-cooled cameras is generally lower than that of cooler cameras.

MARKET SEGMENTATION:

By Offerings

• Hardware

• Software

• Service

By Material

• Indium Gallium Arsenide

• Lead Sulfide

• SWIR Market

By Scanning Type

• Area Scan

• Line Scan

• Indium Antimonide

• Mercury Cadmium Telluride

By Technology

• Uncooled Technology

• Cooled Technology

By Application

• Security & Surveillance

• Detection

• Monitoring & Inspection

By Vertical INDUSTRY

• Military & Defense

• Scientific Research

• Industrial

• Non-Industrial

• Medical

• Others

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REGIONAL ANALYSIS:

North America hosted the largest SWIR market share. One of the main reasons for the leading position in North America is the military presence and protection of a few prominent people, scientific research, and medical players in North America who produce the need for SWIR cameras. However, several companies providing SWIR cameras are present in the region, which can also contribute to the growth of the SWIR market in North America.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

COMPETITIVE LANDSCAPE:

The key players in the Shortwave Infrared (SWIR) Market are Collins Aerospace, Xenics, Allied Vision Technologies, Lynred, Photon, Teledyne FLIR, New Imaging Technologies, Raptor Photonics, Opgal Optronic, Hamamatsu Photonics & Other Players