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Shortwave infrared (SWIR) is an advanced electromagnetic spectrum band that lies in the infrared (IR) range. The shortwave infrared is majorly used to capture better image quality than the visible lights imaging. Images captured from the shortwave infrared are object-specific. Shortwave infrared cameras are used to detect radiation that is invisible to the human eye. Due to its feature, this technology is majorly used in conventional surveillance imaging and advancements in a hyper spectral imaging application.
The factors are expected to drive the market are an increase in demand for SWIR Cameras from emerging economy such as China and India. Moreover, the surge in the adoption of SWIR cameras in several commercial application is anticipated to boost the market. The increasing demand for 3D- Printed SWIR cameras are an upcoming opportunity for the market. However, high cost is associated to procure SWIR cameras are hampering the market growth.
Key Market Driver -
• Surge in Demand for SWIR Cameras for Use in Multiple Commercial Applications • Upgradation of Technological Features and Characteristics of SWIR Detectors
Key Market Restraint -
• Stringent Regulations Related to Import and Export of SWIR Cameras are Hampering Market Growth
By type, the market is segmented into area scan and line scan. Based on technology, the market is segmented into cooled and uncooled. Based on the application, the market is categorized into security & surveillance, monitoring & inspection, and detection. Based on vertical, the market is classified as industrial and non-industrial. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Major key players that are present in the Shortwave Infrared (SWIR) market are Allied Vision Technologies (Germany), Collins Aerospace (The U.S.), FLIR Systems (The U.S.), Hamamatsu Photonics K.K. (Japan), New Imaging Technologies (France), Xenics NV (Belgium)and among others.
The shortwave infrared (SWIR) market is analyzed across four major regions North America, Europe, Asia Pacific, and Rest of the World. At present, North America is expected to steer the shortwave infrared (SWIR) market during the forecast period. This growth is owing to the presence of key players, which include Collins Aerospace, FLIR Systems, and others.
The Asia Pacific is projected to capture a significant market share of the market during the forecast period. This market growth is owing to the increased demand for cost-efficient SWIR cameras from the defense force of China and India. The increasing demand for SWIR technology from pharmaceuticals and medical industries has shown enormous growth in commercial applications such as scientific research & development(R&D) and several medical services.
Europe also exhibits significant growth in the market. This growth is attributed to key players' presence, which includes Allied Vision Technologies, New Imaging Technologies, Xenics NV, and others. The Rest of the World registers significant growth during the forecast period. This growth is attributed to the growing demand for Shortwave Infrared (SWIR) in South America and Middle East & Africa for security & surveillance, monitoring & inspection, and detection.
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