SWIR Camera Market to Soar at 11.4% CAGR till 2027; Growing Demand for Thermal Imaging Devices for Scientific Research Activities to Broaden Market Outlook

The global SWIR Camera market size is expected to reach USD 419.0 million by 2027 on account of rising adoption of these cameras for security and surveillance operations, finds Fortune Business Insights™ in its report, titled “SWIR Camera Market Size, Share and Covid-19 Impact, Analysis, By Product (SWIR Linear Camera, SWIR Area Camera), By Application (Inspection and Quality Control, Security and Surveillance, Astronomy, Thermography, Spectroscopy, and Others), By End-user (Industrial Manufacturing, Aerospace and Defense, Scientific Research and Life Sciences, and Others), and Regional Forecast, 2020 – 2027”. As per the report, the value of this market was at USD 178.9 million in 2019 and is expected to register a CAGR of 11.4% from 2020 to 2027.

The outbreak of the COVID-19 pandemic is projected to prove favorable for the SWIR camera market growth as these thermal imaging cameras are being widely utilized by healthcare professionals and public service agencies to detect high body temperature in individuals. Thus, the market is expected to exhibit strong growth in 2020.

Xenics Releases Its Revolutionary Manx R SWIR Camera

One of the prominent trends in this market is frequency with which market players are launching new products. Leading this trend is the Belgian SWIR imaging specialist, XenICs, who, after having released its Wildcat camera in February 2020, introduced its next-gen SWIR camera Manx R in May 2020. The novel camera solution comprises a series of linescan SWIR imagers, which are designed for use in several industrial applications, including laser wavelength measurement and Spectral-Domain Optical Coherence Tomography (SD-OCT). Featuring rectangular pixels, the cameras can be deployed in challenging environments to obtain high-accuracy and high-clarity images.

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Application of SWIR Imaging in Agriculture to Open Growth Avenues for the Market

Raising agricultural productivity has become high priority for countries as global population continues it ever-increasing trajectory. Shortwave infrared cameras can prove useful in aiding governmental efforts to boost farm yield as these devices can enable assessment of fruit ripening, detecting pathogens and diseases in plants, scheduling irrigation activities, and predicting water stress in crops. In Central Valley, California, for instance, NASA’s Landsat 8 satellite, equipped with SWIR and other thermal imaging equipment, provided images of large swathes of barren fields in the state. Today, around 33% of the state’s signature crops such as broccoli, grapes, and artichokes are being surveyed regularly by thermal imaging technologies. Thus, these cameras can prove instrumental for advancing agricultural practices, especially in developing countries, where dependence on primary activities is high.

Focused Innovation by Players to Characterize Market Competition

The competitive landscape of this market is dominated by the presence of a few large players and a bunch of relatively smaller companies. Both varieties are deeply engaged in diversifying their offerings through innovation designed for various end-user industries. While companies such as FLIR Systems are constantly upgrading their existing product line, others such as Allied Vision are adopting strategies such as mergers & acquisitions and partnerships with other players.

Industry Development:

• November 2019: Japan-based Hamamatsu Corporation introduced its InGaAs line-scan camera, the C15333-10E, conceived for inline nondestructive inspection using SWIR imaging. The camera features high-sensitivity and low-noise, making it an ideal candidate for industrial applications.

List of Key Companies Covered in this Market Report:

• Teledyne Princeton Instruments
• Raptor Photonics
• New Imaging Technologies (NIT)
• Leonardo DRS
• InView Technology Corporation
• FLIR Systems, Inc.
• Xenics
• Sierra-Olympic Systems, Inc.
• Princeton Infrared Technologies, Inc.
• Lynred
• IRCameras LLC
• Hamamatsu Photonics K.K.
• Allied Vision Technologies GmbH

Further Report Findings:

• The scientific research and life sciences segment, which held a share of 19.7% in 2019, is expected to grow at a healthy pace owing to the increasing preference for cost-effective SWIR cameras by scientists for research into different materials.
• North America is expected to lead the SWIR camera market share during the forecast on account of heavy investments by the US in upgrading its armed forces with the latest imaging technologies. In 2019, the region’s market size was at USD 60.0 million.
• In the Middle East, the market will be mainly driven by growing demand for thermal imaging equipment from the aerospace & defense industry.

Table of Segmentation: