December 07, 2020
As per the market research report titled ‘Global Shortwave Infrared (SWIR) Market Size study, by technology (Uncooled and Cooled), By Product Type (SWIR Area Cameras and SWIR Linear Cameras), By End-users (Defense and Military, Healthcare & Research, Automotive and Other end-user) and Regional Forecasts 2020-2027’ available with Market Study Report LLC, global shortwave infrared (SWIR) market was remunerated at USD 161.50 million in 2019 and is slated to record a robust CAGR of 9.60% during 2020-2027.
The business intelligence report states that widespread application of the product across numerous verticals including construction, industrial, and defense & military, coupled with rising adoption due to beneficial attributes such as ability to covert lasers & beacons, day-to-night imaging, high sensitivity, and superior resolution are bolstering the growth of the global shortwave infrared market size.
Additionally, increasing adoption of shortwave infrared (SWIR) across various applications including identifying & sorting, anti-counterfeiting, electric board inspection, and proceed quality control is further stimulating the overall market outlook.
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Growing focus of industry players towards introducing innovative products along with increasing number of mergers, acquisitions, product launches, and other strategic collaborations are positively swaying the global shortwave infrared market dynamics. However, stringent regulations germane to the import and export of SWIR cameras is a major restraining factor for the industry expansion during the stipulated timeframe.
Based on technology landscape, the industry is split into cooled, and uncooled. With regards to product type, the market is bifurcated into SWIR linear cameras, and SWIR area cameras. The end-user terrain of global shortwave infrared industry comprises of automotive, healthcare & research, defense & military, and others.
From a regional frame of reference, global shortwave infrared market is divided into Latin America, Asia-Pacific, Europe, North America, and rest of the world. The country wise segmentation of the market comprises of Mexico, Brazil, South Korea, China, Japan, India, Australia, Spain, Italy, France, Germany, United Kingdom, Canada, and the U.S.
As per credible reports, North America market accrued significant returns in the recent past, owing to high concentration of manufacturers and escalating product demand in the U.S. On the other hand, Asia-Pacific shortwave infrared market is reckoned to exhibit the highest CAGR during 2020-2027.
Major organizations operating in worldwide shortwave infrared market are Intevac Inc., Hamamatsu Photonics K.K., Photon etc., Raptor Photonics Limited, Allied Vision Technologies GmbH, Xenics NV, Princeton Instruments, Sensors Unlimited (United Technologies Company), and FLIR Systems Inc. among others.