Shortwave Infrared Market Size & Share, By Component (Hardware, Software, Services), Scanning Type Technology Application (Machine Vision, Thermal Imaging, Hyperspectral Imaging, Security & Surveillance, Photovoltaics), End User, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Shortwave Infrared Market was over USD 175.1 Million in 2023 and is estimated to surpass USD 360.5 Million by end of the year 2032, witnessing more than 8.2% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 175.1 Million
• CAGR (2024-2032): 8.2%
• Forecast Year Value (2032): USD 360.5 Million
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

One major growth driver for the Shortwave Infrared (SWIR) market is the increasing demand for SWIR cameras in various industries such as automotive, electronics, and surveillance. SWIR cameras offer high sensitivity and resolution, making them ideal for applications that require precision and accuracy, such as in machine vision systems. Additionally, the growing adoption of SWIR cameras for security and surveillance purposes, especially in defense and law enforcement sectors, is expected to further drive the market growth.

Another important growth driver for the SWIR market is the rising investment in research and development activities to enhance the performance and functionality of SWIR cameras. Manufacturers are focusing on developing advanced SWIR cameras with improved capabilities, such as higher frame rates, wider spectral ranges, and enhanced image processing algorithms. These technological advancements are likely to expand the application scope of SWIR cameras and create new opportunities for market growth.

Report Scope

Report Coverage	Details
Segments Covered	Component, Scanning Type, Technology, Application, End User
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Allied Vision Technologies, FLAC Systems, Hamamatsu Photonics K.K., InfraTec, IRCameras LLC, New Imaging Technologies, NITROSYS, Photon etc., Princeton Infrared Technologies, Raptor Photonics., Sensors Unlimited, Sierra-Olympic Technologies, Sofradir, Teledyne DALSA, Xenics

Industry Restraints:

On the other hand, one major restraint for the SWIR market is the high cost associated with SWIR cameras and related components. The initial investment required for acquiring SWIR cameras can be prohibitive for some end-users, especially small and medium-sized enterprises. Additionally, the ongoing operational costs, including maintenance and calibration, can further add to the overall expenses, which may limit the market adoption of SWIR technology.

Another significant restraint for the SWIR market is the lack of standardization and interoperability among different SWIR camera manufacturers. The absence of common specifications and protocols can hinder the seamless integration of SWIR cameras with other imaging systems and software, leading to compatibility issues and performance inconsistencies. This challenge can pose difficulties for end-users in selecting and deploying SWIR cameras effectively, thereby impeding the market growth to some extent.

Regional Forecast:

North America:

The North America region, including the United States and Canada, holds a significant market share in the Shortwave Infrared (SWIR) market. The increasing demand for SWIR technology in various industries such as defense and security, automotive, and healthcare is driving the market growth in this region. The presence of key players and technological advancements in the area are further boosting the market expansion. The United States, in particular, is a major contributor to the SWIR market with its developed infrastructure and increasing investments in research and development activities.

Asia Pacific:

In the Asia Pacific region, countries like China, Japan, and South Korea are witnessing a robust growth in the Shortwave Infrared market. The increasing adoption of SWIR technology in industrial automation, surveillance, and consumer electronics is propelling the market growth in this region. China, with its growing manufacturing industry and technological advancements, is a key market for SWIR technology. Japan and South Korea are also contributing significantly to the market with their focus on innovation and research in the field of SWIR technology.

Europe:

Europe, including countries like the United Kingdom, Germany, and France, is also a prominent market for Shortwave Infrared technology. The presence of key players and government initiatives promoting the adoption of SWIR technology are driving market growth in this region. The automotive industry in Germany, the defense sector in the United Kingdom, and the healthcare industry in France are major end-users of SWIR technology, further fueling market expansion. The increasing investments in research and development activities and the growing demand for SWIR cameras and sensors are expected to drive the market growth in Europe.

Segmentation Analysis:

In terms of segmentation, the global shortwave infrared market is analyzed on the basis of Component, Scanning Type, Technology, Application, End User.

Shortwave Infrared Market Size & Share:

The Shortwave Infrared market can be segmented by component into hardware, software, and services. Hardware includes components such as sensors, cameras, and lenses that are used to capture and process shortwave infrared images. Software encompasses the algorithms and software tools used to analyze and interpret the data captured by the hardware. Services are the professional services provided by companies to help customers implement and optimize their shortwave infrared systems. The market size and share of each component are influenced by the increasing demand for advanced imaging solutions in various industries.

Scanning Type Technology Application:

The Shortwave Infrared market can also be segmented by scanning type technology application into machine vision, thermal imaging, hyperspectral imaging, security & surveillance, and photovoltaics. Machine vision is one of the fastest-growing applications of shortwave infrared technology, as it is used for automated inspection and quality control in manufacturing processes. Thermal imaging utilizes shortwave infrared cameras to detect heat signatures and is widely used in industries such as building inspection, firefighting, and surveillance. Hyperspectral imaging combines shortwave infrared with visible and near-infrared spectra to provide detailed spectral information for various applications. Security & surveillance applications use shortwave infrared cameras for covert surveillance, perimeter monitoring, and threat detection. Photovoltaics utilize shortwave infrared technology for inspecting solar panels and optimizing energy generation.

End User:

The Shortwave Infrared market can be segmented by end-user into industrial, commercial, military & defense, healthcare, and others. The industrial sector is a key end-user of shortwave infrared technology, using it for quality control, process monitoring, and automation in manufacturing plants. Commercial applications include building inspection, agriculture, and transportation, where shortwave infrared cameras are used for structural analysis, crop monitoring, and traffic management. The military & defense sector utilizes shortwave infrared technology for night vision, target identification, and reconnaissance. In healthcare, shortwave infrared imaging is used for medical diagnostics, surgical imaging, and monitoring patient vital signs. Other end-users include research institutions, academic organizations, and government agencies that use shortwave infrared technology for scientific research and environmental monitoring.

Competitive Landscape:

The Shortwave Infrared (SWIR) market is highly competitive with several key companies vying for market share. The increasing demand for SWIR technology in various industries such as defense, surveillance, automotive, and agriculture has fueled the competition among players to innovate and offer advanced solutions. Companies are focusing on developing high-performance SWIR cameras, sensors, and imaging systems to meet the evolving needs of customers. Some of the top companies operating in the Shortwave Infrared Market across the world include FLIR Systems, Hamamatsu Photonics, Xenics, New Imaging Technologies, Allied Vision Technologies, Princeton Infrared Technologies, Sensors Unlimited, Sofradir, FluxData Inc., and Photon Etc.

Top Market Players:

1. FLIR Systems

2. Hamamatsu Photonics

3. Xenics

4. New Imaging Technologies

5. Allied Vision Technologies

6. Princeton Infrared Technologies

7. Sensors Unlimited

8. Sofradir

9. FluxData Inc.

10. Photon Etc.