Global Shortwave Infrared Market Size to worth USD 1599.0 Million by 2033: Forecast Analysis Report

Global Shortwave Infrared Market Size to worth USD 1599.0 Million by 2033

According to a research report published by Spherical Insights & Consulting, the Global Shortwave Infrared Market Size is Expected to Grow from USD 568.0 Million in 2023 to USD 1599.0 Million by 2033, at a CAGR of 10.90% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Shortwave Infrared Market Size, Share, and COVID-19 Impact Analysis, By Technology (Cooled and Uncooled), By Imaging Type (Spectral Imaging, Thermal Imaging, and Hyperspectral Imaging), By Use-Case (Security & Surveillance, Monitoring & Inspection, and Detection), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.           

Shortwave infrared (SWIR) is a subset of the infrared band in the electromagnetic spectrum, covering the wavelength ranging from 1.4 to 3 microns. It offers superior imaging details for applications including semiconductor inspection, fruit ripeness monitoring, and surveillance. Further, newer use cases and applications, including Advanced Driver Assistance Systems (ADAS), 3D sensing, hydration monitoring, bruise detection and ripeness monitoring, and non-invasive diagnostics, have been made possible by the integration of AI into SWIR systems. The use of SWIR in disaster management and response owing to its ability to see through smoke, fog, dust, and certain materials provides a lucrative market opportunity for shortwave infrared. Due to its improved vision and 3D sensing capabilities, SWIR improves driver safety by enhancing visibility in low light, thereby driving the market demand for SWIR. The surging demand for miniaturization and low-power consumption technology in defense applications is augmenting the market growth. On the contrary, the lower signal-to-noise ratio in a SWIR imager which makes it difficult to see fine details in images due to reduced clarity and quality of images may hamper the shortwave infrared market.

The cooled SWIR segment is dominating the global shortwave infrared market during the forecast period.

Based on the technology, the shortwave infrared market is classified into cooled and uncooled. Among these, the cooled SWIR segment is dominating the global shortwave infrared market during the forecast period. Lower operating temperatures are maintained by cooled SWIR sensors, which improves their sensitivity and detection power.

The spectral imaging segment is anticipated to grow at a rapid pace through the forecast period.

Based on the imaging type, the shortwave infrared market is classified into spectral imaging, thermal imaging, and hyperspectral imaging. Among these, the spectral imaging segment is anticipated to grow at a rapid pace through the forecast period. Spectral imaging data is acquired through various wavelengths, subsequently enabling the discovery and examination of materials with discrepancies.

The monitoring & inspection segment is expected to register the fastest CAGR growth during the forecast period.

Based on the use-case, the shortwave infrared market is classified into security & surveillance, monitoring & inspection, and detection. Among these, the monitoring & inspection segment is expected to register the fastest CAGR growth during the forecast period. Because SWIR cameras can identify defects and problems that other imaging technologies cannot, they are typically used in industries for quality control and maintenance projects.

North America is estimated to hold the largest share of the shortwave infrared market over the forecast period.

North America is estimated to hold the largest share of the shortwave infrared market over the forecast period. The military & defense, industrial, and commercial sectors in the region are driving the market demand for shortwave infrared. The introduction of various disruptive technologies has expanded the range of industries in which SWIR cameras can be used, creating a growth opportunity for SWIR camera suppliers in the region.

Asia Pacific is predicted to grow at the highest CAGR in the shortwave infrared market over the forecast period. The high industrialization and infrastructure development in countries like Taiwan and China are responsible for driving the market. Further, the strong manufacturing base in the electronics, automotive, and semiconductor sectors in the region is responsible for propelling the market.

Competitive Analysis

Major key players in the global shortwave infrared market include Flir Systems Inc., Hamamatsu Photonics K.K., Sensors Unlimited (United Technologies Company), Teledyne Princeton Instruments, Xenics, Leonardo DRS, Sofradir, Allied Vision Technologies GmbH, InView Technology Corporation, IRCameras LLC, Raptor Photonics, Princeton Infrared Technologies, Inc., Sierra-Olympic Systems, Inc., and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In May 2024, FLIR, part of Teledyne Technologies, and UE Systems, a world leader in ultrasound inspection tools, announced a business and technology partnership to provide industrial customers with leading-edge predictive maintenance solutions, beginning with the FLIR Si2-Series of acoustic imaging cameras: Si2-Pro, Si2-LD, and Si2-PD.

• In September 2023, Leonardo DRS, Inc. announced that it is releasing its next-generation 5-inch stabilized, multi-sensor EO/IR payload gimbal, with market-leading high-definition nighttime imaging capability.

• In February 2022, Espoo, Finland-based Emberion announced it has raised €6 million to address the needs of the machine vision and surveillance markets for VIS-SWIR (Visible/Short Wave Infrared) cameras with broad spectrum and wide dynamic range imaging performance.

• In January 2022, LUCID Vision Labs, Inc., a designer and manufacturer of unique and innovative industrial vision cameras, announced the launch of the new Atlas SWIR IP67-rated 1.3 MP and 0.3 MP cameras. The Atlas SWIR is a GigE PoE+ camera featuring wide-band and high-sensitivity Sony SenSWIR 1.3 MP IMX990 and 0.3 MP IMX991 InGaAs sensors, capable of capturing images across both visible and invisible light spectrums and boasting a miniaturized pixel size of 5μm.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the shortwave infrared market based on the below-mentioned segments:

Global Shortwave Infrared Market, By Technology

• Cooled
• Uncooled

Global Shortwave Infrared Market, By Imaging Type

• Spectral Imaging
• Thermal Imaging
• Hyperspectral Imaging

Global Shortwave Infrared Market, By Use-Case

• Security & Surveillance
• Monitoring & Inspection
• Detection

Global Shortwave Infrared Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa