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Shortwave Infrared Market Analysis

ID: MRFR//5848-HCR | 100 Pages | Author: Ankit Gupta| July 2024

The dynamics of the Shortwave Infrared (SWIR) market are shaped by a variety of factors that collectively influence its growth and evolution. Technological advancements play a pivotal role in driving market dynamics. Continuous research and development efforts contribute to the improvement of SWIR sensors, making them more sensitive, efficient, and versatile. As the technology evolves, it opens up new possibilities for applications across diverse industries, fueling the demand for SWIR solutions.

Market demand is a significant driver of dynamics in the SWIR market. Various industries, including healthcare, manufacturing, defense, and agriculture, contribute to the demand for SWIR technology. The ability of SWIR sensors to provide valuable insights and imaging capabilities makes them indispensable in applications such as medical diagnostics, quality control, surveillance, and environmental monitoring. Understanding and responding to the evolving needs of these industries are crucial for businesses operating in the SWIR market.

Government policies and regulations also play a pivotal role in shaping market dynamics. Policies favoring the adoption of SWIR technology in defense and surveillance applications, as well as initiatives supporting its use in agriculture and environmental monitoring, influence market growth. Regulatory frameworks can either facilitate or impede the adoption of SWIR solutions, making it essential for businesses to navigate and comply with these regulations to thrive in the market.

The competitive landscape contributes to the dynamism of the SWIR market. The presence of key players, their market share, and strategic moves such as mergers, acquisitions, and partnerships impact the overall competitiveness. Companies that invest in innovation, establish strong market presence, and differentiate their offerings gain a competitive edge. This competition drives continuous improvement and innovation in SWIR technology, benefiting end-users with enhanced solutions.

Economic factors, including global economic conditions, also influence the dynamics of the SWIR market. Economic stability and growth contribute to increased investments in research and development, fostering technological innovation. Conversely, economic downturns may lead to a slowdown in investments, affecting the pace of technological advancements and market expansion. The cyclical nature of the economy necessitates adaptability and resilience for businesses operating in the SWIR market.

End-user industries significantly shape market dynamics. The specific needs and applications within sectors such as healthcare, manufacturing, and defense drive the development and adoption of SWIR solutions. For instance, the demand for SWIR technology in medical imaging or quality control processes in manufacturing propels market growth in these segments. Understanding the unique requirements of each industry is essential for businesses to align their offerings with market dynamics.

Environmental factors, including climate change and natural disasters, contribute to the dynamics of the SWIR market. The technology's utility in disaster management, environmental monitoring, and remote sensing positions it as a valuable tool in addressing challenges related to climate change and natural calamities. The increasing awareness of environmental issues amplifies the demand for SWIR technology in applications related to sustainability and conservation.

Covered Aspects:

Report Attribute/Metric Details

Global Shortwave Infrared Market Overview:

Shortwave Infrared Market Size was valued at USD 0.21 Billion in 2023. The Shortwave Infrared market industry is estimated to grow and expand from USD 0.22 Billion in 2024 to USD 0.43 Billion by 2032, contributing a growth rate or CAGR (compound annual growth rate) of 8.20% during the projected timeframe (2024 - 2032). Gas imaging sensors' capability to collect high-resolution pictures and their frequent use in industrial machine vision and the military and defense are the key market drivers contributing to market growth and expansion.

Shortwave Infrared Market

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Shortwave Infrared Market Trends

  • Growing number of shortwave infrared cameras used in industrial machines drives market growth.

The rising number of shortwave infrared cameras used in industrial machines drives the Market CAGR for shortwave infrared. The capacity of InGaAs perception, which is highly effective in collecting high-resolution pictures, and the rising need for SI cameras defense and computer vision uses are the driving factors for the Shortwave Infrared Satellite Imaging Market. Several governments' attempts to safeguard the military by upgrading critical defense and military equipment will undoubtedly favorably influence the SWIR Shortwave Infrared Marketplace. Furthermore, there is an increasing demand for SWIR solutions to monitor and check applications.

Furthermore, the fact that it uses fewer watts will benefit the Shortwave Infrared Industry Demand. This can also measure temperature, which implies it can detect fire. For example, Digi globe's monitoring satellite features a sensor that can see through dense smokestacks. It will aid in expanding the worldwide Shortwave Infrared Market Participation. Shortwave infrared cameras are also widely used in the security and defense industries, enhancing the market's value. SWIR cameras' capacity to see clearly in difficult situations such as cigarette smoke, fog, mist, and vaporized water expands their uses. These are commonly utilized in marine intellect, monitoring, and vision improvement operations. SWIR cameras are widely used in various industries, creating enormous potential prospects for the market. They are employed in scientific research for climate change investigations, ecological evaluation, illness analysis, and psychology.

The Covid 19 epidemic has had a substantial impact on a variety of businesses. Covid has significantly hindered company growth potential in the production, tourism and travel transport, medical and retail industries. Despite the new WFH standard, IT, finance, banking, and telecommunications businesses could not mitigate the pandemic's effects, and the government sector was no exception. Comparably, the Infrared Shortwave Sector has been affected.

For instance, the US Department of Defense reported that the President's budget proposal of USD 705.4B reflects a modest increase in 2021 over the FY 2020 authorized amount of USD 704.6B. Thus, demand for Shortwave Infrared is anticipated to increase throughout the projected timeframe due to the rising number of Shortwave infrared cameras used in industrial machines. Thus, driving the Shortwave Infrared market revenue.

Shortwave Infrared Market Segment Insights:

Shortwave Infrared Type Insights

The Shortwave Infrared Market segmentation, based on Type, includes Area Scan and Line Scan. The area scan category dominated the market, accounting for 65% of market revenue (USD 0.1 Billion) in 2022. The broad acceptance of area scans in this market is likely due to their widespread use across different verticals. Area scan uses for shortwave infrared cameras include process manufacturing, commercial heat pump tracking, solar cell inspections, and surveillance systems.

Figure 1: Shortwave Infrared Market, by Type, 2022 & 2032 (USD Billion)

Shortwave Infrared Market, by Type, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Shortwave Infrared Technology Insights

The Shortwave Infrared Market segmentation, based on technology, includes Cooled Infrared Imaging and Uncooled Infrared Imaging. The Uncooled Infrared Imaging category generated the highest market revenue of about 51% (USD 0.1 billion) in 2022. In terms of overall market share, Uncooled SWIR technology outperforms Cooled technology. In this regard, it is crucial to highlight it as it offers the potential for a longer life cycle due to fewer moving components. Uncooled technology has a lower total cost and is easier to maintain, which will significantly influence end-user selection.

Shortwave Infrared End-Use Insights

The Shortwave Infrared Market segmentation, based on End-Use, includes Aerospace, Electronics & Communication, Food & Beverage, Medical and healthcare and Military & Defense. The Military & Defense segment dominated the market, accounting for 37% of market revenue (USD 0.1 Billion) in 2022. In defense applications, infrared imaging provides excellent vision and recognition in close and complete darkness. Because so much monitoring and targeting occurs in the dark, infrared (IR) frequencies are critical for military and defense study and development.

Shortwave Infrared Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Shortwave Infrared market will dominate during the projected timeframe, owing to the region's varied spectrum of SWIR systems. Furthermore, led by end-users such as aviation, military, aviation, and weather prediction will boost the market growth in the North American area.

Furthermore, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Shortwave Infrared Market Share by Region 2022 (USD Billion)

Shortwave Infrared Market Share by Region 2022

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s Shortwave Infrared market accounts for the second-highest market share. This rise is linked to significant companies and a growing need for SWIR equipment from the pharma and healthcare sectors, resulting in huge commercial use growth. Further, the German Shortwave Infrared market holds the largest market share, and the UK Shortwave Infrared market is expected to grow and expand significantly in the European region during the projected timeframe.

The Asia-Pacific Shortwave Infrared Market is expected to grow quickly during the projected timeframe. The expanding competence of the region's electronic industry, particularly in Japan, China, and India, drives demand for SWIR technology in APAC. Moreover, China’s Shortwave Infrared market dominates the market share, and the Indian Shortwave Infrared market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.

Shortwave Infrared Key Market Players & Competitive Insights

Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Shortwave Infrared market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with significant market developments including new Type portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Shortwave Infrared industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the global Shortwave Infrared industry to benefit customers and capture untapped market share and revenue. The Shortwave Infrared industry has recently offered significant advantages to the Test and Measurement industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Shortwave Infrared market, including Sensors Unlimited Inc. (US), FLIR Systems, Inc. (US), Xenics (Belgium), New Imaging Technologies (NIT) (France), Allied Vision Technologies GmbH (Germany), Sofradir (France), Raptor Photonics Limited (Ireland), OPGAL Optronics Industries Ltd (Israel), Hamamatsu Photonics K.K. (Japan), Photon Etc. Inc. (Canada). C-THERMAL (Austria), HGH Infrared Systems (France), Photonic Science & Engineering Limited (UK), FluxData, Inc. (US), InfraTec Infrared LLC (US), Intevac, Inc. (US), and Princeton Instruments, Inc. (US) are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.

Elbit is a technological business that develops and distributes defense and homeland security products. The firm was established in 1996 and is based in Haifa, Israel. Elbit Systems Ltd., an Israeli firm, introduced the Advanced Multi-Sensor Payload Systems (AMPS NG) in April 2021 for army electro-optical aerial surveillance applications. In addition to its current charge-coupled gadget, FLIR sensor, and daylight Television sensors, the AMPS NG includes shortwave infrared (SWIR) technologies.

Toshiba Teli Corporation is a manufacturer of CMOS and CCD cameras used in the fields of machine vision, automated manufacturing, assessment, evaluation, and automation. Toshiba & TriEye confirmed their collaboration in April 2022. They are developing CMOS-based HD SWIR sensors for manufacturing procedures and uses. TriEye's SWIR sensor technology is used in the camera.

Key Companies in the Shortwave Infrared market include

  • Sensor Unlimited In. (US)

  • Xenix (Belgium)

  • FLIR Systems, Inc. (US)

  • New Imaging Technologies (NIT) (France)

  • Sofradir (France)

  • Allied Vision Technologies GmbH (Germany)

  • Raptor Photonics Limited (Ireland)

  • Hamamatsu Photonics K.K (Japan)

  • OPAL Optronics Industries Ltd (Israel)

  • C-THERMAL (Austria)

  • Photonic Science & Engineering Limited (UK)

  • HGH Infrared Systems (France)

  • FluxData, Inc. (US)

  • Intevac, Inc. (US)

  • InfraTec Infrared LLC (US)

  • Princeton Instruments, Inc (US)

Shortwave Infrared Industry Developments

April 2022: Toshiba & TriEye confirmed their collaboration in April 2022. They are developing CMOS-based HD SWIR sensors for manufacturing procedures and uses. TriEye's SWIR sensor technology is used in the camera.

April 2021: Lytid, a French business, will debut its improved SIRIS shortwave infrared (SWIR) sensor in April 2021. The camera is outfitted with a New Imaging Solutions deep-cooled Lin/Log indium gallium arsenide detector and photographic processing tools.

April 2021: Elbit Systems Ltd., an Israeli firm, introduced the Advanced Multi-Sensor Payload Systems (AMPS NG) in April 2021 for army electro-optical aerial surveillance applications. In addition to its current charge-coupled gadget, FLIR sensor, and daylight Television sensors, the AMPS NG includes shortwave infrared (SWIR) technologies.

Shortwave Infrared Market Segmentation:

Shortwave Infrared Type Outlook

  • Line scan

  • Area scan

Shortwave Infrared Technology Outlook

  • Cooled infrared imaging

  • Uncooled infrared imaging

Shortwave Infrared End-Use Outlook

  • Electronics and communication

  • Aerospace

  • Food and beverage

  • Medical and healthcare

  • Military and defense

Shortwave Infrared Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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