Shortwave Infrared (SWIR) Market

Key Revenue Pockets - Shortwave Infrared (SWIR) Market

The global shortwave infrared (SWIR) market is projected to grow from USD 177 million in 2020 to USD 279 million by 2025, at a CAGR of 9.5%. The market is driven by the rising demand for SWIR cameras for machine vision applications and the increasing adoption of SWIR cameras in commercial applications.

The SWIR market for line-scan SWIR technology is expected to grow at the highest CAGR during the forecast period. Line-scan SWIR technology enables users to see beyond the visible spectrum; this allows cameras based on SWIR technology to be used in night vision enhancement, moisture detection, solar cell inspection, camouflage detection, silicon wafer inspection, and surveillance applications.

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The uncooled SWIR technology is projected to account for a large size in the SWIR market during the forecast period than the cooled segment. This is primarily because of the characteristics and multivariate features of the uncooled SWIR technology that cater to many applications and sub-applications.

The SWIR market for the security and surveillance application is expected to grow at the highest CAGR during the forecast period. Applications such as commercial security in offices and commercial establishments, automobile, and aerospace require SWIR technology as it has become a necessity in these applications. Moreover, considering growing security threats, countries are installing SWIR detectors to control and monitor thermal movement, which would help detect if borders are being trespassed.

The SWIR market for the non-industrial vertical is expected to grow at the highest CAGR during the forecast period. Technological improvements in SWIR have made it versatile as it is highly used in applications such as military & defense and scientific research. Moreover, SWIR imaging offers many opportunities for advanced image processing applications.

The APAC SWIR market is projected to grow at the highest CAGR during the forecast period. This growth is expected due to the massive production of electronic components and accessories in countries such as China, Japan, India, Vietnam, the Philippines, and Bangladesh. The demand for SWIR technology is growing, with a surge in sub-applications and the disruption of SWIR technology in the manufacturing processes. SWIR players are increasing their footprints in these countries by undertaking strategies such as collaborations, partnerships, increasing supply, and providing services.

Related Reports:

Shortwave Infrared (SWIR) Market with COVID-19 Impact Analysis by Scanning Type (Area Scan and Line Scan), Technology (Cooled and Uncooled), Application (Security and Surveillance, Monitoring and Inspection, and Detection), Vertical (Industrial and Non-industrial), and Region - Global Forecast to 2025

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Report Code
SE 4173
RI Published ON
6/11/2020
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