The Shortwave Infrared (SWIR) Market is expected to grow significantly over the next several years, with a compound annual growth rate (CAGR) of 8.9% from USD 166 million in 2021 to USD 277 million in 2027.

Numerous variables, such as improvements in scanning technologies like line and area scan, applications in security and surveillance, monitoring and inspection, and detection, are responsible for this increase. The ongoing development of SWIR technologies, rising demand across verticals, and a broad selection of products in the market all contribute to the SWIR market's growth. The market is anticipated to increase steadily as more industries come to understand the advantages of SWIR applications. This will encourage innovation and adoption in a variety of international sectors.

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The COVID-19 pandemic's effects caused the Shortwave Infrared (SWIR) market, which had previously seen significant expansion, to decline. The pandemic slowed the market's growth rate even though it was previously widely used in both industrial and non-industrial sectors for applications like security, surveillance, monitoring, and inspection. This was especially noticeable in the decline in demand for SWIR cameras in a number of critical applications, including sorting, solar cell inspection, industrial process monitoring, furnace monitoring, and driver vision enhancement. The pandemic's restrictions, which included company interruptions and setbacks to the world economy, limited the widespread use of SWIR cameras. During this difficult time, the market contracted even more as a result of production cuts and lower company inputs.

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Uncooled SWIR technology to have the largest market size in SWIR market during the forecast period

Throughout the forecast period, the uncooled segment is expected to lead the Shortwave Infrared (SWIR) market. This dominance is mainly due to the significant demand for uncooled SWIR cameras in the non-industrial vertical, especially in the military and defence sector. This preference for uncooled SWIR cameras in this sector can be attributed to their affordability when compared to cooled SWIR cameras. While cooled SWIR cameras generally have more sensitive detectors, the lower cost of uncooled cameras makes them an advantageous option for a variety of applications, which helps to explain the segment's leadership position in the SWIR market.

Non industrial vertical to grow with highest CAGR in SWIR market during the forecast period

Over the course of the projection period, the non-industrial vertical is expected to dominate the shortwave infrared (SWIR) market. Strong acceptance in the military and defence industry, especially for applications pertaining to eyesight enhancement, is what drives this leadership. Scientific research is predicted to require a significant amount of SWIR technology, and during the forecast period, a noteworthy increase in demand is anticipated. The adoption of SWIR technology in the scientific research vertical is largely driven by the North American region, particularly by the increased demand for area scan SWIR cameras. This helps explain why the non-industrial segment of the SWIR market is leading.

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North America accounts for the largest share of the SWIR market during the forecast period

Because of the significant presence of important players in the military and defence, scientific research, and medical sectors, North America emerged as the leading player in the Shortwave Infrared (SWIR) market in 2021. The area maintains its dominant position in the market for SWIR cameras because it is home to several notable enterprises. The presence of prominent North American SWIR camera providers, such as Teledyne FLIR (US), Collins Aerospace (US), Princeton Instruments (US), IRCameras (US), and Photon etc. (Canada), further propels the expansion of the SWIR market in the area.

The report profiles key players in the SWIR market and analyzes their market shares. Players profiled in this report are Collins Aerospace (US), Teledyne FLIR (US), Xenics (Belgium), New Imaging Technologies (France) and Allied Vision Technologies (Germany), Raptor Photonics (UK), Lynred (France), Opgal Optronic (Israel), Photon etc. (Canada), Himamatsu Photonics (Japan), Intevac (US), InView Technology (US), Sierra-Olympic Technologies (US), FluxData (US), IRCameras (US), Episensors (US), Princeton Infrared Technologies (US), Leonardo DRS (US), InfraTec (Germany), Tonbo Imaging (India), COX (South Korea), C-THERMAL (Austria), Dali Technology (China), Axis Communication (Sweden) and HGH Infrared Systems (France).

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