Shortwave Infra-Red (SWIR) Camera Market is anticipated to grow at a CAGR of 7.1% during the forecast period of 2018-2025
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As per the report “Shortwave Infra-Red Camera Market By Type ( SWIR area cameras, SWIR linear cameras ), By Application ( Optical communications, Physics and chemistry measurement, Aerial ), Industry Trends, Estimation & Forecast, 2017 – 2025″ SWIR camera market is expected to grow with a CAGR of 7.1% during the forecast period of 2018-2025.
In 2017, the area camera segment held the highest revenue share in the global SWIR camera market.
“With the rapid development of imaging technology and optics, SWIR cameras would experience a hike in demand for various commercial as well governmental applications such as product inspection, counterfeit object detection and defense and military sector.”
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North America held nearly 1/3rd share of the overall market in 2017, owing to high adoption within military and other commercial activities
The U.S. is the largest consumer of SWIR technology especially for homeland security issues which includes prevention of terroristic attacks, oil spills in the marine environment and other public disputes. In 2013, officials of the U.S. Air Force Research Laboratory at Wright-Patterson Air Force Base, Ohio, issued a broad agency announcement for the Industrial Base for Low Cost Shortwave Infrared (SWIR) Camera Cores program. Moreover, favorable initiatives taken by the U.S. government for the development of biological sciences and agriculture are motivating authorities to emphasize more on the R&D of imaging techniques, hence opening a growth pathway for the market.
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Area cameras to exhibit an impressive growth during the forecast period with increasing demand from the defense sector
In the current scenario, there are numerous countries which are dealing with immense border disputes and terrorism threats. This has led to an increase in safety concerns of the respective governments and has compelled them to adopt the latest defense components. SWIR area cameras have emerged out as an eagle’s eye for securing the risky zones. They can be mounted upon trucks, buildings, UAVs and can proficiently detect any kind of human activity or threat, even in dark and foggy situations. Moreover, these cameras are highly preferred by the geologists in order to study various physical aspects of the earth.
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Expanding the product portfolio and enhancing the products will assist the major players to excel in the market
Major market players are investing a generous share of their revenue in the R&D activities, in order to launch enhanced products. In May, 2017, Princeton Instruments introduced a new class of high-quality, indium-arsenide (InAs)–based, short-wave infrared (SWIR), which is being used for in vivo imaging by researchers at the MIT. Acquiring other players is also helping companies to enhance their technical capability and strengthen their foothold in the market. In January, 2018, SCD acquired US based Quantum Imaging, with the intention of strengthening and expanding SCD’s SWIR related activities in the US defense and homeland security markets.
• The market in Asian countries, such as China and India is expected to grow with the fastest rate during (2018 – 2025).
• Linear cameras are expected to witness a CAGR of 8.31% during the forecast period.
• By application, optical communication segment dominated the global market in 2017, holding nearly 3/7th of the global market.
Some major market players are Sensors Unlimited, Xenics, Photonic Science, Princeton Instruments, Axiom Optics, New Imaging Technologies, IR Cameras, Atik Cameras, and Raptor.