SWIR Camera Market Growth Forecast

SWIR Camera Market Growth Forecast

  • 03-09-2020

SWIR Camera Market
SWIR in Camera Market stands for Shortwave Infrared Market and it is expected to be valued at a total of 147 Million USD by the end of 2018. This market is also expected to reach the valuation of a whopping 258 Million USD by the end of 2024, with a CAGR of 9.87% during the forecast period. They are rapidly being used in industries like electronics and semiconductors, food beverages and aerospace. The increasingly high demand of SWIR cameras is one of the driving factors in the growth of the software infrared market. But the largest market for SWIR cameras is the security and surveillance market. In 2017, the area camera segment boasted the highest revenue share in the global SWIR market. 
North America holds the highest share of the overall market, which is almost 1/3rd of the total market as of 2017. 
The United States of America is the largest user of SWIR Technology for its varied uses, especially for the homeland security issues. It is used for monitoring and for the prevention of terrorist attacks, oil spills in the marine environment as well as for other public disputes.  Back in 2013, the U.S Air Force Research Laboratory at Wright Patterson Air-Force Base, Ohio, issued a broad agency announcement regarding Low Cost Short Infrared Camera Cores program. Along with that, the U.S Government has taken several major initiatives for the development of biological sciences and agriculture that are paving the way for R&D Imaging technique, aiding in the growth of the SWIR Market. 
Area Cameras are expected to showcase impressive growth during the forecast period aided by an increasing demand from the defense sector.
In the current world, several countries are entangled in major border disputes. This leads to defense issues and these countries along with several terror threats. In 2017, Princeton students introduced a new kind of high-quality Indium-Arsenide based Short Wave Infrared which is being used for in vivo imaging by hundreds of researchers at MIT. In January 2018, SCD acquired US Based Quantum Imaging, with the intention of expanding SWIR’s market base in defense and in homeland security departments. 
Key Findings
•    The SWIR market in Asian countries, like India and China is expected to grow with the fastest rate during the forecast period, which is from 2020-2025. 
•    Linear cameras are supposed to witness an increase in CAGR of 8.31 during the forecast period. 
•    The optical communication segment dominated the global market in 2017, holding almost 3/7th of the Global Market. 
Key Market Players:
1.    Sensors Unlimited
2.    Xenics
3.    Photonic Science
4.    Princeton Instruments
5.    Axiom Optics
6.    New Imaging Technologies
7.    IR Cameras
8.    Atik Cameras 
9.    Raptor 
Sensors Unlimited in known for its SWIR Imaging Solutions and InGaAs technology products. Its leading position in SWIR market can be attribute to a powerful portfolio of SWIR Cameras which consists of both Area Scan Cameras and Area Line Cameras. In 2016 the company launched 320 MicroSWIR Camera and GL2048R Camera.

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