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Shortwave Infrared Market Size

Report ID: GMI8148
Published Date: Feb 2024
Report Format: PDF

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Shortwave Infrared Market Size

Shortwave Infrared Market was valued at over USD 170 million in 2023 and is estimated to register a CAGR of over 8% between 2024 & 2032.

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The SWIR market encompasses the technological landscape associated with capturing and utilizing shortwave infrared light. Applications spanning various industries including defense, agriculture, and industrial imaging leverage SWIR's capabilities for enhanced visibility, analysis & detection beyond the range of visible light. The market is growing due to increased product adoption in industrial imaging. SWIR's ability to penetrate specific materials, combined with its sensitivity to moisture and temperature variations, makes it useful for quality control and process monitoring in industries such as manufacturing, agriculture, and pharmaceuticals. As industries seek more accurate and reliable imaging solutions, the demand for SWIR technology is expected to grow.

For instance, in September 2020, FLIR Systems, through its FLIR GF77 Gas Find IR Series, provided professionals with the flexibility to use one uncooled gas detection camera for both gas detection and thermal inspections across chemical & industrial manufacturing, electric power utilities, natural gas supply chain, food & agricultural, and public safety.

Shortwave Infrared Market Report Attributes
Report Attribute	Details
Base Year:	2023
Shortwave Infrared Market Size in 2023:	USD 170 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	8%
2032 Value Projection:	USD 350 Million
Historical Data for:	2018 - 2023
No. of Pages:	250
Tables, Charts & Figures:	441
Segments covered:	Component, scanning type, technology, application, end user
Growth Drivers:	Growing demand of SWIR in defense and security Increasing integration of SWIR in automotive safety Growing adoption of SWIR in industrial imaging Rise in penetration of SWIR in agriculture sector SWIR witnesses its importance in medical imaging
Pitfalls & Challenges:	Limited availability of SWIR components Challenges in image calibration and standardization

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Growing demand in defense and security drives the shortwave infrared (SWIR) market. SWIR's ability to provide enhanced night vision, target recognition, and camouflage penetration meets defense & security requirements. Global military modernization efforts and rising security concerns are driving the adoption of SWIR technology in surveillance, reconnaissance & threat detection applications.

The limited supply of shortwave infrared components poses a significant barrier to market growth. Key components such as high-quality sensors & detectors face constraints in production due to material availability and manufacturing complexities. This lack of supplies can cause supply chain disruptions and limit the scalability of SWIR technology. Addressing these limitations through advancements in manufacturing processes and material sourcing is critical to realizing the SWIR market's full potential.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

Market size for Shortwave infrared surpassed USD 170 million in 2023 and is estimated to record and at over 8% CAGR between 2024 and 2032 attributed to the growing product adoption in industrial imaging.

Shortwave infrared industry from the area scan segment will witness high demand and is estimated to expand at over 7% rate from 2024-2032 owing to its suitability for a wide range of applications requiring extensive imaging and inspection.

North America shortwave infrared (SWIR) industry accounted for more than 30% revenue share in 2023 and is set to exhibit robust growth through 2032 driven by the strong presence of key players and a solid infrastructure for technological innovation coupled with the growing investments in defense & security applications across the region.

Some of the top companies engaged in the shortwave infrared (SWR) market are Allied Vision Technologies GmbH, FLAC Systems, Inc., Hamamatsu Photonics K.K., InfraTec GmbH, IRCameras LLC, New Imaging Technologies (NIT), NITROSYS GmbH, Photon, Princeton Infrared Technologies, Inc., Raptor Photonics Ltd., Sierra-Olympic Technologies, Inc., Sofradir, Teledyne DALSA, and Xenics.