Global Shortwave Infrared Market Size

Shortwave Infrared Market Analysis

The Shortwave Infrared Market is anticipated to register a CAGR of 8.6% during the forecast period. The increasing applications of the technology across several end-user industries are driving the market. The applications are not limited to defense and healthcare, as shortwave infrared technology is increasingly adopted into the automotive sector owing to the rising demand for ADAS.

• SWIR is used for testing purposes in various industries, such as semiconductor manufacturing. Along with this, the increasing need for miniaturization and low-power consumption technology across defense applications positively influences the market.
• 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. Also, the growing demand for SWIR products for monitoring and inspection application is expected to drive market growth. The primary advantage of using SWIR technology in military applications is that SWIR cameras can see through and image higher contrast images and provide data even through the mist, rain, and challenging atmospheric conditions.
• SWIR cameras have emerged to provide surveillance for securing risky zones. They can be mounted on buildings, trucks, and unmanned aerial vehicles and can detect any human activity or threats. Moreover, such cameras are adopted by geologists for studying several physical aspects of the earth.
• Additionally, SWIR has the advantage of low power consumption and can sense temperature, making it useful for detecting fires. A shortwave infrared sensor on the Earth Observation satellite from DigitalGlobe (an American commercial provider of space imagery and geospatial material) can see through dense smoke clouds from burning objects on the ground.
• SWIR cameras are being used more frequently for vehicle navigation. As driverless vehicles become more common, SWIR technology can aid in navigating through fog, snow, dust, and rain. Due to the expanding use of SWIR cameras in autonomous vehicles, the Israeli firm TriEyeintends to create a SWIR camera for the dashboard of consumer cars that can successfully navigate through snow, fog, dust, and rain.
• However, COVID-19 has caused a setback in the development of autonomous cars in the automotive industry as the global lockdown has impacted the testing of autonomous vehicles. Also, with the implementation of remote working, it is estimated that urbanization in most countries is decelerating as more people move to rural and suburban areas. This is causing testing and utilization challenges for Autonomous vehicles which delays their development and rollout time, hampering the growth of the studied market.