The report "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", is projected to grow from USD 177 million in 2020 to USD 279 million in 2025, at a CAGR of 9.6%. The growth can be attributed to the rising demand for line-scan SWIR cameras for machine vision applications, increasing penetration of SWIR cameras in the military & defense vertical, and growing adoption of SWIR cameras in commercial applications.
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APAC, by region, is expected to grow at the highest CAGR during the forecast period.
APAC is set to witness the highest growth rate during the forecast period due to the numerous manufacturing capabilities of the region. The demand for SWIR technology is increasing in daily manufacturing operations and for reducing the manufacturing costs of products. SWIR detectors are used in the manufacturing process of electronics, food & beverage, and glass and security & surveillance. Considering the tensions between India, Pakistan, and China, the demand for SWIR technology is rising from the military & defense sector of these countries for installations at borders for monitoring and security applications.
Key market players
Key players in the SWIR market include Collins Aerospace (US), FLIR Systems (US), Xenics NV (Belgium), New Imaging Technologies (France), Allied Vision Technologies (Germany), and Hamamatsu Photonics K.K. (Japan). FLIR Systems is a well-known player for providing innovative and customized SWIR products. An impactful brand name and a large customer base are among the key factors that have resulted in the leading position of Collins Aerospace in the SWIR market. Additionally, the company has strong R&D capabilities and geographic presence. Xenics focuses on strategies such as product launches and developments to strengthen its product portfolio and maintain its position in the SWIR market.
North America, by region, is expected to account for the largest market share during the forecast period
One of the major reasons for North America’s domination of the market is the presence of several prominent military & defense, scientific research, and medical players, which is generating demand for SWIR cameras. As North America is the largest producer of weapons and ancillaries, SWIR products are one of the important technologies being marketed. Moreover, several companies offering SWIR cameras are present in this region, which further adds to the growth of the SWIR market in North America.
Line-scan SWIR technology, by scanning type, is expected to grow at the highest CAGR during the forecast period
Line-scan SWIR technology enables users to see beyond the visible spectrum; it also helps in scanning the object/body line by line, thereby helping in covering the whole area of the object, thus providing an accurate image of the object. Line-scan SWIR detectors are highly used in manufacturing to find out flaws and rectify them before delivery.
Security & surveillance, by application type, is expected to account for the largest market share during the forecast period
SWIR imagers are complimentary to thermal imagers when it comes to vision enhancement and low visibility in poor weather conditions. Imagery in the SWIR technology is similar to visible imagery, in that it senses reflected light; thus, interpretation and scene analysis is better than thermal systems. Thermal imagers have good detection abilities, and such imagers are a good complement to SWIR technology. While thermal imaging can detect the presence of a warm object against a cool background, a SWIR detector can actually identify what that object is (for instance, ships, vehicles, or personnel).
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