A recent report published by Infinium Global Research on the shortwave infrared (SWIR) market provides an in-depth analysis of segments and sub-segments in the global as well as regional shortwave infrared (SWIR) market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional shortwave infrared (SWIR) market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global shortwave infrared (SWIR) market. According to the report, the global shortwave infrared (SWIR) market is projected to grow at a CAGR of 9% over the forecast period of 2021-2027. The Shortwave infrared (SWIR) market was valued at USD 169 million in 2021 and is expected to reach USD 283 million in 2027.
Shortwave infrared is an advanced electromagnetic spectrum band that lies in the infrared (IR) range. Shortwave infrared is majorly used to capture better image quality than visible lights imaging. Images captured from it are of high quality and object-specific. Shortwave infrared cameras are used by the military to identify the radiation and for the detection of explosives that are not visible by naked eyes. Due to its feature, this technology is majorly used in conventional surveillance imaging and advancements in hyperspectral imaging applications. Rising uses in research projects for surveillance and object detection also support the extension of this market. Furthermore, a worldwide adaptation of twilight vision technologies by enterprises also will drive the demand for Shortwave Infrared across the world.
The major driving force of the market is, the increased use of SWIR cameras for military & defense applications due to the special ability of SWIR cameras of recording in uneven environmental conditions, such as fog, dark, and water vapor. Increased utilization of SWIR for marine intelligence, surveillance, and vision enhancement will propel the growth of the market in the forecast period. The capability of SWIR cameras to see through windshields of vehicles unlike long-wave infrared (LWIR) and medium wave (MWIR) infrared cameras during both day and night, as well as their capability to identify and differentiate between explosive and no explosive objects is boosting the growth of the market. However, due to stringent government rules, import and export become challenging, as it requires legal documentation, approval of commodity jurisdiction for selling SWIR cameras will restrain the growth of the market in the forecast period.
Based on region, the world Shortwave Infrared (SWIR) Market has been segregated into North America, Asia Pacific, Europe, & Africa. North America is anticipated to capture the highest market share of the shortwave infrared (SWIR) market in the forecast period. The use of SWIR for industrial, commercial, military, and defense purposes are some of the major reasons contributing to the region holding the largest market share. Moreover, the region is also having a rise in the demand for shortwave infrared cameras for the space industry. The Asia Pacific is expected to dominate the shortwave infrared market because of the rapid industrial growth and infrastructural development in developing countries like India, Taiwan, and China. The market in developing regions such as Europe, Africa, and South America is also projected to rise in the forecast period.
The report on global shortwave infrared (SWIR) market covers segments such as type, technology, and end use. On the basis of type, the sub-markets include area scan, and line scan. On the basis of technology, the sub-markets include cooled infrared imaging, and uncooled infrared imaging. On the basis of end use, the sub-markets include aerospace, electronics & communication, food & beverage, and military & defense.
The report provides profiles of the companies in the market such as Sensor Unlimited In., Xenix, FLIR Systems, Inc., New Imaging Technologies (NIT), Sofradir, Allied Vision Technologies GmbH, Raptor Photonics Limited, Hamamatsu Photonics K.K, OPAL Optronics Industries Ltd, and Photonic Science & Engineering Limited.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of shortwave infrared (SWIR) market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.