North America Shortwave Infrared (SWIR) Market (2024-2029)

RESEARCH METHODOLOGY

The study involved four major activities in estimating the current size of the SWIR market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Various secondary sources have been referred to in the secondary research process to identify and collect information important for this study. The secondary sources include annual reports, press releases, and investor presentations of companies; white papers; journals and certified publications; and articles from recognized authors, websites, directories, and databases. Secondary research has been conducted to obtain critical information about the industry’s supply chain, the market’s value chain, the total pool of key players, market segmentation according to the industry trends (to the bottom-most level), regional markets, and key developments from market- and technology-oriented perspectives. The secondary data has been collected and analyzed to determine the overall market size, further validated by primary research.

List of major secondary sources

Primary Research

Extensive primary research was conducted after gaining knowledge about the current scenario of the SWIR market through secondary research. Several primary interviews were conducted with experts from the demand and supply sides across four major regions—North America, Europe, Asia Pacific, and RoW. This primary data was collected through questionnaires, emails, and telephonic interviews.

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Market Size Estimation

In the complete market engineering process, top-down and bottom-up approaches and several data triangulation methods have been used to estimate and forecast the overall market segments and subsegments listed in this report. Key players in the market have been identified through secondary research, and their market shares in the respective regions have been determined through primary and secondary research. This entire procedure includes the study of annual and financial reports of the top market players and extensive interviews for key insights (quantitative and qualitative) with industry experts (CEOs, VPs, directors, and marketing executives).

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the parameters affecting the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report. The following figure represents this study’s overall market size estimation process.

Bottom-Up Approach

• Identifying various applications of SWIR
• Analyzing the penetration of each type of SWIR technology through secondary and primary research
• Analyzing the penetration of SWIR for different applications and verticals through secondary and primary research
• Conducting multiple discussion sessions with key opinion leaders to understand the detailed working of SWIR and their implementation in numerous applications; this helped analyze the break-up of the scope of work carried out by each major company
• Verifying and cross-checking the estimates at every level with key opinion leaders, including CEOs, directors, operation managers, and finally with MarketsandMarkets domain experts
• Studying various paid and unpaid sources of information, such as annual reports, press releases, white papers, and databases

Top-Down Approach

• Focusing initially on the top-line investments and expenditures being made in the ecosystem of the SWIR market; further, splitting the key market areas based on imaging type, offering, technology, use case, vertical, and region, and listing the key developments
• Identifying all leading players and applications in the SWIR market based on region through secondary research and thoroughly verifying them through a brief discussion with industry experts
• Analyzing revenues, product mix, geographic presence, and key applications served by all identified players to estimate and arrive at percentage splits for all key segments
• Discussing splits with the industry experts to validate the information and identify key growth pockets across all key segments
• Breaking down the total market based on verified splits and key growth pockets across all segments

Data Triangulation

After arriving at the overall market size from the estimation process explained in the previous section, the total market was split into several segments and subsegments. The data triangulation procedure was employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides, and the market size was validated using top-down and bottom-up approaches.

Market Definition

Short Wave IR (SWIR) is a subset of the infrared band in the electromagnetic spectrum, covering wavelengths ranging from 1 to 3 microns. This wavelength is not visible to human eyes and can often offer a better image than what is achievable with visible light imaging. A number of manufacturers make SWIR imagers that detect various ranges of the electromagnetic spectrum with multiple qualities.

For imaging in this range, SWIR cameras convert the radiation of objects in the SWIR range to a measurable form. The capability of a SWIR camera depends on the type of component used. Lenses and detectors are the two most essential components of a SWIR camera and account for a significant percentage of the total parts of a SWIR camera. Indium gallium arsenide (InGaAs), mercury cadmium telluride (HgCdTe), and indium antimonide (InSb) are a few of the types of SWIR detectors available in the SWIR market.

Key Stakeholders

• SWIR material and component providers
• SWIR providers, integrators, and installers
• Electronic hardware equipment manufacturers
• Optical system manufacturers
• SWIR software and solution providers
• Consulting companies
• SWIR related associations, organizations, forums, and alliances
• Government and corporate bodies
• Research institutes and organizations
• Venture capitalists, private equity firms, and startup companies
• Distributors and traders
• Original equipment manufacturers (OEMs)
• End users

Report Objectives

• To define, describe, and forecast the SWIR market in terms of value, segmented by imaging type, by offering, by technology, use case, and vertical
• To describe and forecast the market, in terms of value, for various segments with respect to four main regions—North America, Europe, Asia Pacific, and Rest of the World (RoW)
• To study different types of materials used in SWIR products with the scope limited to qualitative research only
• To forecast the SWIR market in terms of volume
• To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the SWIR market
• To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
• To analyze opportunities for stakeholders by identifying high-growth segments of the SWIR market
• To benchmark players within the market using the proprietary Company Evaluation Matrix framework, which analyzes market players on various parameters within the broad categories of market rank and product offering
• To strategically profile the key players and comprehensively analyze their market shares and core competencies2 and provide a detailed competitive landscape for market leaders
• To analyze competitive developments, such as partnerships, collaborations, agreements, and joint ventures; mergers and acquisitions; expansions; and product launches and developments; in the SWIR market

Customization Options

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five)

Geographic Analysis

• Further breakdown of regions into respective countries