Increasing Private and Public Expenditure for the Development of Semiconductors Infrastructure is driving the growth of the Global SWIR Market

Due to its innovative applications, imaging in the shortwave infrared (SWIR), which encompasses a wavelength spectrum extending from 0.9um to 2.5um, has received much interest recently. Shortwave infrared cameras are stand-alone devices that detect invisible radiation to the naked eye. One of the key causes of increased interest in areas like traditional surveillance imaging and developments in hyper spectrum imaging applications is advancements in SWIR sensors. The SWIR (Shortwave Infrared) waveband has certain distinct characteristics that make it an effective sensing band. Even if the signal is bounced off the target, the Shortwave infrared (SWIR) can work in the dark as an infrared sensor for imaging applications.

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Global SWIR market is expected to reach USD 345.02 million by 2028 from USD 179.02 million in 2020, growing with the healthy CAGR of 9.2% in the forecast period of 2021 to 2028. Some factors driving the market are surging demand for short wave infrared cameras for machine vision applications. SWIR cameras are also smaller and light weight when compared to thermal cameras. The growth of the market has been highly boosted by increasing demand for multispectral imaging systems. The growing adoption of SWIR for different applications by various end-users is boosting the growth of the SWIR market.

Increasing demand for multispectral imaging amongst various industries for numerous different applications will drive the market's growth rate

The demand for multispectral imaging amongst various industries for numerous different applications increases the utilization of SWIR, which is expected to act as a major driver for the growth of the global SWIR market. This is driving the growth of the market. Increased expenditure by public and private players on infrastructure development will also promote the market growth rate. Continuous research and development pertaining to the deployment of advanced technologies will yet again widen the scope of growth.  

Report Scope and Market Segmentation

Segment Analysis:

Global SWIR market is segmented into six notable segments which are based on the scanning type, detector type, chemical composition, application, component and industry.

• On the basis of scanning type, the global SWIR market has been segmented into line scan and area scan. In 2021, line scan is expected to dominate the global SWIR market with 54.59% market share due to the increasing affordability of line scan cameras, the capability of scanning at a high resolution, suitable for high-speed applications, and the ability to capture large objects.
• On the basis of detector type, the global SWIR market has been segmented into cooled and uncooled. In 2021, uncooled is expected to dominate the global SWIR market with 61.56% market share due to its high reliability and cost-effective nature, which does not require cryogenic cooling, and better manufacturability. All these factors lead to the availability of a wide variety of infrared cameras.
• On the basis of chemical composition, the global SWIR market has been segmented into indium gallium arsenide, mercury cadmium telluride, indium antimonide (INSB), lead sulfide quantum dots  and others. In 2021, indium gallium arsenide is expected to dominate the global SWIR market with 53.82% market share as it is the most common technology being used in infrared spectroscopy for studying light in the wavelength range of 0.9 to 1.7 microns. Moreover, it has high electron mobility, allowing it to function at higher frequencies.
• On the basis of application, the global SWIR market has been segmented into machine vision, thermal imaging, hyperspectral imaging, security & surveillance, photovoltaics and others. In 2021, security & surveillance is expected to dominate the global SWIR market with 39.62% market share due to factors such as low noise, compactness, which support the adoption of SWIR systems. Additionally, they also provide better vision during harsh weather conditions.
• On the basis of component, the global SWIR market has been segmented into hardware, software and services. In 2021, hardware is expected to dominate the global SWIR market with 53.07% market share as cameras and sensors are majorly utilized for SWIR. These images increase the ability to see through fog and haziness, cater to a wide dynamic range, and provide high sensitivity.
• On the basis of industry, the global SWIR market has been segmented into commercial, industrial, medical, military & defense and others. In 2021, industrial segment is expected to dominate the global SWIR market with 43.54% market share which is mainly attributed to wide application areas of SWIR in different industrial fields, such as metal smelting, steel rolling, the hot process for glass bottles, and more.

Major Players              

Data Bridge Market Research recognizes the following companies as the market players in SWIR market: Sensors Unlimited (U.S.), Teledyne Technologies Incorporated. (U.S.), Xenics NV (Belgium), Lynred (U.S.), Allied Vision Technologies GmbH (Germany), Hamamatsu Photonics K.K. (Japan), Photon Inc, (U.K.), Princeton Infrared Technologies, Inc. (U.S.), Raptor Photonics (U.K.), IRCameras LLC (U.S.), Intevac, Inc. (U.S.), SWIR Vision Systems (U.S.), Edmund Optics Inc. (U.S.), Atik Cameras Limited (U.K.), and Silent Sentinel (U.K.).  

Market Development

• In January 2021, Allied Vision Technologies GmbH announced the integration of their Goldeye SWIR camera series with Sony's new innovative IMX990 and IMX991 InGaAs sensors. Under this integration, the series will be expanded by 4 models with innovative sensors, which are sensitive in both the visible and the short-wave infrared (SWIR) range. This will help the company to enhance its offerings in the market.
• In May 2021, NIT announced launch of SenS 1280S-VT model. This new product integrates NIT 1280x1024pixel @ 10um sensor, operates with a USB3 output, and is bundled with GUI – NITVISION. This new product is designed for applications such as laser beam analysis, silicon, solar wafer inspection, process control, medical, food analysis, microscopy, and others. This will help the company to enhance their offerings in the market.
•  In May 2020, InfraTec GmbH entered into a partnership with Jenoptik to supply infrared cameras. This partnership, covers the supply of hand-held and stationary high-end infrared cameras and infrared lenses. Through this partnership, the company could meet increased demand for thermographic cameras for use in fever detection at airports or railway stations, to efficiently check large groups of people with the help of high-resolution non-contact temperature measurement technology.
• Airbus Defence & Space (ADS), the prime contractor for the European Copernicus Land Surface Temperature Monitoring (LSTM) mission, selected Lynred to create a new linear SWIR (shortwave infrared) array in April 2021. This linear SWIR array will be integrated into an image that measures land-surface temperatures and will suit the imager instrument's unique needs. This will assist the organization in expanding its consumer base and market share.

Regional Analysis

Geographically, the countries covered in the SWIR market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in SWIR market during the forecast period 2021 - 2028

The market is expected to be dominated by North America, which is expected to rise rapidly due to factors such as strong presence of thermal imaging providers and growing adoption of technological innovations in SWIR.

Asia-Pacific is estimated to be the fastest-growing region in SWIR market the forecast period 2021 - 2028

Asia-Pacific is expected to increase significantly as well. China dominates the Asia-Pacific SWIR market due to factors such as the presence of many SWIR suppliers and providers and increasing adoption of automation for business processes. Furthermore, as part of their economic growth aspirations, growing economies in APAC, such as India, are heavily investing in the infrastructure development.

COVID-19 Impact Analysis

Due to the widespread usage of SWIR technology in both industrial and non-industrial verticals for various applications, including security, surveillance, monitoring, and inspection, the SWIR market has seen substantial expansion in recent years. The COVID-19 epidemic, on the other hand, has slowed the SWIR market's growth rate. The fall in demand for SWIR cameras for various applications such as industrial process monitoring, industrial furnace monitoring, solar cell inspecting, inspection sorting, and driver vision-enhancing applications is one of the primary factors. Due to the tremendous disruptions created by the epidemic to businesses and the global economy, the use of SWIR cameras was limited. Production has been curtailed as a result of the epidemic, resulting in a significant drop in company inputs.  

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