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Market Size – USD 180.5 Million in 2022, Market Growth – at a CAGR of 9.6%, Market Trends – Increasing investment in advanced SWIR technologies in North America

VANCOUVER, BRITISH COLUMBIA, CANADA, May 15, 2023 /EINPresswire.com/ -- The global Shortwave Infrared (SWIR) market size was USD 180.5 Million in 2022 and is expected to register a revenue CAGR of 9.6% during the forecast period, according to latest analysis by Emergen Research. Rising demand for SWIR imaging in defense and surveillance applications is a major factor projected to support market revenue growth during the forecast period. Increasing applications of SWIR in various end-use industries are driving market revenue growth. SWIR cameras are used for photography over greater areas, collecting spectral information at each pixel, and simultaneously increasing temporal and dynamic range in addition to imaging over a wider spectral range. The high temporal resolution provides enormous volumes of data with traditional frame-based imaging, which calls for computationally demanding processing. By offering an entirely new way of conceiving of acquiring optical information, event-based vision overcomes this difficulty.

The Shortwave Infrared (SWIR) market is a rapidly growing industry that has seen an increasing demand for its applications in various fields. SWIR technology operates in the wavelength range of 0.9 to 1.7 microns, and it has unique advantages such as high sensitivity, imaging capabilities, and penetration depth, which make it suitable for use in various industrial applications.

However, the SWIR market is not without its challenges. One of the biggest challenges facing the industry is the high cost of SWIR cameras, which limits their adoption in certain industries. Additionally, the lack of awareness and understanding of SWIR technology among end-users and consumers is also hindering the growth of the market.

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Key Points of Shortwave Infrared Market:

Extensive coverage of the analysis of the Shortwave Infrared market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Shortwave Infrared market
Complete data about the key manufacturers and vendors in the Shortwave Infrared market

Leading Companies of the Shortwave Infrared Industry and Profiled in the Report are:

Collins Aerospace, Teledyne FLIR LLC, Xenics nv, New Imaging Technologies (NIT), Raptor Photonics, Lynred, Opgal Optronic Industries Ltd., Photon Etc., Hamamatsu Photonics K.K. and its affiliates, IRCameras LLC

Some Key Highlights From the Report

The Lead sulfide segment is expected to register fastest revenue CAGR during the forecast period. Short-wavelength infrared photodetectors utilize lead sulfide nanoparticles due to their outstanding sensitivity to light, band gap tunability, and solution processability.

The industrial segment accounted for largest revenue share in 2022. Professionals in the food sector are using SWIR infrared imaging as an alternative to X-ray imaging that allows them to monitor performance and ensure repeatability across their manufacturing processes. The production lines are continuously under quality control due to these solutions.

North America accounted for largest revenue share in 2022 owing to rising demand from the military and defense sector. SWIR imaging can identify stealth laser targets and can see through smoke, dust, or fog. It is also utilized in industry for applications including substance inspection and sorting.
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Based on Type, the Shortwave Infrared Market is segmented into:

Offering Outlook (Revenue, USD Million; 2019–2032)
Hardware
Software
Services

Material Outlook (Revenue, USD Million; 2019–2032)
Lead Sulfide
Indium Gallium Arsenide
Indium Antimonide
Mercury Cadmium Telluride

Scanning Type Outlook (Revenue, USD Million; 2019–2032)
Area Scan
Line Scan

Regional Analysis:

The report sheds light on the region expected to dominate the Shortwave Infrared market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Shortwave Infrared market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.

Key Benefits of Buying the Global Shortwave Infrared Report:

Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Shortwave Infrared market.
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Shortwave Infrared Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Shortwave Infrared Market

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