The Shortwave Infrared (SWIR) Market is expected to register a CAGR of over 7.14%, during the forecast period 2018 - 2023. The report profiles the infrared imaging solution providers offering SWIR cameras and detectors for various industries.
Favorable government initiatives aimed at military and defense equipment upgrades are expected to drive the SWIR market, during the forecast period. Increasing applications in scientific research for surveillance and object detection also support the growth of this market. The demand for SWIR cameras from the industrial sectors (biomedical, healthcare, agriculture, agro-food industry, etc.) is mainly due to the ability of thermal, chemical, moisture detection, and imaging in low light. The use of thermal imaging, shortwave infrared (SWIR) cameras, and fluorescence imaging is increasing across the agriculture sector as well. The need to gather data on the plant growth, root development, water absorption, and drying, and photosynthesis etc., are being catered to by the technology. However, due to the increasing demand for the SWIR, along with the technological advancements in the sensors and detectors, prices are expected to decreases in the future.
Key players in the market are expected to invest in R&D to continuously innovate in SWIR cameras and sensor technology to have an edge in the market. Companies are also exploring new applications of SWIR across the healthcare sector for cancer surveillance and aerospace imaging technologies, among others.
Semiconductor Inspection Applications are Expected to Fuel the Market
With the expanding semiconductor market, due to the need for advanced technology across consumer electronics and photonics, the quality aspect of the semiconductor wafer becomes crucial. Technologically advanced SWIR InGaAs cameras are available in the market, which has the ability to detect internal defects or cracks, alignment of the layers in the making of transistors and memory cells, etc. The enablement of quality analysis of the semiconductor wafers and contactless machine-vision inspection of solar cells encourages the adoption of the SWIR technology, thus fuelling the growth of the market.
North America Expected to Occupy a Substantial Market Share
The adoption of SWIR across military and defense applications is already evident across the United States in North America. The SWIR is a key technology in the helmet-mounted light weapon of the US Military Special Operations Forces (SOF) arsenal. North America, being one of the largest markets for image processing technological research globally, is expected to have a substantial market share in 2018. The increasing scientific research and automobile imaging technology investments across the region substantiate the region’s market share, during the forecast period.
Key Developments in the Market
- Jun 2018: Leonardo DRS Inc., a leading technology innovator in the SWIR market made an agreement with Sierra Olympic Technologies Inc. (SOTI), a pioneer in thermal imaging technology. The agreement is in line with the company’s strategy to focus on product innovation and international market expansions while continuing a reliable supply of imaging technologies across the United States.
- Jan 2018: Sofradir, a key infrared detector provider, launched the smallest VGA SWIR detector, Snake SW Tecless. This technology supports high volume industrial imaging applications across aerospace, defense, and commercial markets, and is the first SWIR detector without a cooler that the company has commercialized. The product is expected to offer various machine vision opportunities for its clients.
Major Players: FLIR Systems, Hamamatsu Photonics K.K., Sensors Unlimited (United Technologies Company), Princeton Instruments, Xenics, Leonardo DRS, Sofradir, Allied Vision Technologies GmbH, InView Technology Corporation, Teledyne Inc., IRCameras LLC, Raptor Photonics, Princeton Infrared Technologies Inc., and Sierra-Olympic Systems Inc., among others.
Shortwave Infrared Market - Report Summary
Shortwave Infrared Market
Market Size in 2017
USD 866.76 million
Market Size in 2023
USD 1131.01 million
This report on the Shortwave Infrared Market offers the latest trends, growth prospects, industry competitiveness, major players, value/supply chain, regional market share, and forecast until 2023.
Reasons to Purchase this Report
- Analysis of various perspectives of the market with the help of Porter’s Five Forces Analysis
- The segments that are expected to dominate the market
- Regional analysis of the market during the forecast period
- Latest developments, market shares, and strategies employed by major market players and key innovators
- 3-month analyst support, along with the Market Estimate sheet (in excel)
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1.1 Key Study Deliverables
1.2 Shortwave Infrared (SWIR) Market Definition
1.3 Study Assumptions
2. Research Methodology
3. Executive Summary
4. Shortwave Infrared (SWIR) Market Insights
4.1 Shortwave Infrared (SWIR) Market Overview
4.2 Industry Attractiveness-Porter's Five Forces Model
4.2.1 Bargaining Power Of Suppliers
4.2.2 Bargaining Power Of The Consumers
4.2.3 Threat Of New Entrants
4.2.4 Threat Of Substitutes
4.2.5 Intensity of Competitive Rivalry
5. Shortwave Infrared (SWIR) Market Dynamics
5.1 Shortwave Infrared (SWIR) Market Drivers
5.1.1 Increasing Applications across End-user Industries
5.1.2 Need for Miniaturisation and Low-power Consumption Technology Across Defense Applications
5.2 Shortwave Infrared (SWIR) Market Challenges
5.2.1 High Cost of SWIR Cameras and Detectors
6. Shortwave Infrared (SWIR) Market Segmentation
6.1 By Technology
6.2 By Product Type
6.2.1 SWIR Area Cameras
6.2.2 SWIR Linear Cameras
6.3 By End-user Industries
6.3.1 Defense and Military
6.3.2 Scientific Research
6.3.5 Other End-user Industries (Aerospace)
6.4 By Region
6.4.1 North America
6.4.4 South America
6.4.5 Middle East & Africa
7. Competitive Intelligence - Company Profiles
7.1 FLIR Systems
7.2 Hamamatsu Photonics K.K.
7.3 Sensors Unlimited (United Technologies Company)
7.4 Princeton Instruments
7.6 Leonardo DRS
7.8 Allied Vision Technologies GmbH
7.9 InView Technology Corporation
7.10 Teledyne Inc.
7.11 IRCameras LLC
7.12 Raptor Photonics
7.13 Princeton Infrared Technologies, Inc.
7.14 Sierra-Olympic Systems, Inc.
*List Not Exhaustive
8. Investment Outlook
9. Future of the Shortwave Infrared Market