Shortwave Infra-Red (SWIR) Camera Market is Anticipated to Grow at a CAGR of 7.1% During the Forecast Period 2018-2025, Says Esticast Research and Consulting
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 have experienced a greater demand in numerous commercial as well governmental applications such as product inspection, counterfeit object detection and defense and military sector. Moreover, favorable initiatives taken by governments in the field of biological sciences and agriculture are motivating authorities to emphasize more on the R&D of imaging techniques, hence creating futuristic opportunities for the market growth”
Area cameras expected to show an impressive growth rate during the forecast period, owing to the surge in border disputes.
In the current scenario, there are numerous countries which are facing border disputes and terrorism threats. With increasing safety concerns, government organizations are focusing on adopting advanced defense mechanisms. SWIR cameras have emerged out as the best eye keeper for securing the risky zones. Area cameras can be mounted on trucks, building UAVs and can effectively detect human and various other threats from a safe distance away. The thermal imaging surveillance is very helpful for dealing with security tasks in dark and foggy conditions. Moreover, these cameras are highly preferred by the geologists in order to study various physical aspects of the earth.
SHORTWAVE INFRA-RED (SWIR) CAMERA MARKET REVENUE BY TYPE, 2017
North America held the largest chunk of market share in 2016 owing to rapid technical development and increasing applications.
The continuously increasing penetration of SWIR technology in various applications such as counterfeit detection, chemical detection, smartphone SWIR cameras and defense and military is expanding the base of SWIR cameras market in the region. The US is the largest consumer of SWIR technology especially for homeland security issues which includes prevention of terroristic attacks 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. In addition to this, SWIR cameras are being used by the U.S. army in order to detect oil spills in the marine environment. The region held more than 1/3rd of the global market share in 2017. However, Asia-Pacific is also expected to emerge out as a lucrative platform for the growth of SWIR cameras because of continuously increasing defense budgets among the countries such as China, India, Taiwan and Japan.
NORTH AMERICA SHORTWAVE INFRA-RED (SWIR) CAMERA MARKETREVENUE GROWTH RATE, 2012-2022
Expanding and enhancing the product portfolio will assist the major players to grow rapidly in the market.
The major market players are adopting various market strategies in order to develop and get an expanded foot hold in the very market. Product launch and product enhancement has emerged out as the most adopted strategy among the major market players in order to retain their market position and revenue generation. Raptor Photonics, a key market player, has recently launched a visible SWIR camera with the OWL 1280, offering HD resolution for high-end, long-range surveillance, scientific and astronomy applications. The OWL 1280 offers visible extension from 0.4µm to 1.7µm to enable high sensitivity imaging. Products are being modified and enhanced as per the varying requirements coming from different fields. The major companies are investing a generous share of their revenue for the R &D of their products and technology. In 2016, FLIR Systems invested nearly 9% of the total revenue earned for the R&D. In addition to this, acquisition is the most adopted strategy for the expansion of market base. SCD acquired US based Quantum Imaging recently. The acquisition is intended to strengthen and expand SCD’s SWIR related activities in the US defense and homeland security markets.
To know more about the report, visit at https://www.esticastresearch.com/market-reports/shortwave-ir-camera-market
KEY FINDINGS OF GLOBAL SWIR CAMERA MARKET
• Countries such as China and other Asian countries are expected to grow with the fastest growth rate during the forecast period.
• Area cameras held more than 50% of the global market share. However, linear cameras are expected to grow with the fastest growth rate of 8031% during the forecast period.
• Optical communication dominated the global market in 2017, holding nearly 3/7th of the global market.
• Aerial SWIR cameras are expected to witness the highest CAGR of 10.03% during the forecast period.
Acquisition, product launch and strategic agreements have emerged out as the key strategies adopted by the major market players all over the globe. Some major market players are Sensors Unlimited, Xenics, Photonic Science, Princeton Instruments, Axiom Optics, New Imaging Technologies, IR Cameras, Atik Cameras, and Raptor.
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