According to the MarketsandMarkets’ research report, “Shortwave Infrared (SWIR) Market by Scanning Type (Area Scan and Line Scan), Technology (Cooled and Uncooled), Application (Security & Surveillance, Monitoring & Inspection, and Detection), Vertical, and Geography - Global Forecast to 2024”, the SWIR market is expected to be worth $147 million in 2018 and reach $258 million by 2024, at a CAGR of 9.87%. Conservative gains, but indicative of future expansion. As per the research firm, growth of this market can be attributed to the high demand for SWIR cameras from the nonindustrial vertical, especially from the military and defense sector for security and surveillance applications.
- Uncooled segment to hold larger share of SWIR market in 2018
- Market for monitoring & inspection application to grow at highest CAGR during forecast period
- North America is expected to hold the largest share of the SWIR market in 2018.
- Key players operating in the SWIR market are Sensors Unlimited (US), FLIR Systems (US), Xenics (Belgium), New Imaging Technologies (France), Allied Vision Technologies (Germany), Sofradir (France), Raptor Photonics (UK), Hamamatsu Photonics K.K. (Japan), and Opgal Optronic Industries (Israel).
Need more visible light on the topic? Checkout the “Shortwave Infrared (SWIR) Market” report.