The shortwave infrared (SWIR) market is expected to be valued at USD 147 million in 2018 and is likely to reach USD 258 million by 2024, at a CAGR of 9.87% during the forecast period. High demand for SWIR products from the nonindustrial vertical is one of the major factors driving the growth of the market. Moreover, SWIR cameras are increasingly being used in various industries such as electronics and semiconductors, food & beverages, and aerospace for machine vision application; this factor is also expected to considerably boost the growth of the said market in the coming years.
By technology, uncooled segment to account for largest market share during forecast period

In this report, the SWIR market, by technology, has been segmented into cooled and uncooled. Among the two, uncooled segment is expected to hold a larger share of the market throughout the forecast period. The dominant position of this segment can be attributed to the high demand for uncooled SWIR cameras owing to their low cost compared with cooled SWIR cameras. Security & surveillance is the major application area for which uncooled SWIR cameras are used in the SWIR market.
By scanning type, line scan segment is expected to grow at highest CAGR during forecast period

The market for line scan SWIR products is expected to witness significant growth during the forecast period. The major applications of line scan cameras are in the industrial vertical. SWIR cameras are well suited for applications requiring imaging of fast-moving objects, and their cost is lower than that of area scan cameras, thereby leading to their wide adoption in the industrial vertical. A number of companies in the SWIR market offer line scan SWIR cameras. For example, Xenics (Belgium), under its Lynx line scan camera product range, offers various linear SWIR cameras that are available in 3 line resolutions of 512, 1,024, and 2,048 pixels. The company also offers Xlin-1.7-3000, which is a high-speed 3,000-pixel SWIR line scan InGaAs detector.

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North America expected to hold largest share of SWIR market in 2018

North America is expected to hold the largest share of the SWIR market in 2018. The US currently accounts for the largest share of the SWIR market in North America, followed by Canada and Mexico. APAC is expected to witness significant growth in the SWIR market during the forecast period. China, India, and Japan are the key countries contributing to the growth of the SWIR market in APAC. Security & surveillance, and monitoring & inspection are the key applications for which SWIR cameras are used in these regions.

A few 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).

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