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The shortwave infrared camera market size is projected to increase by USD 144.71 million, at a CAGR of 10.51% between 2023 and 2028. The growth trajectory of the market is fueled by various key factors. Notably, increased government investments in military devices and night vision systems drive the demand for advanced shortwave infrared cameras, enhancing surveillance and target identification capabilities. Furthermore, the growing adoption of SWIR cameras and thermal imaging cameras in commercial applications, such as agriculture, manufacturing, and security, contributes significantly to market expansion. Additionally, the rising utilization of night vision cameras across industries further fuels SWIR camera market growth, highlighting the importance of shortwave infrared technology in enhancing visibility and imaging capabilities in low-light conditions. These combined factors create a favorable environment for the sustained growth of the SWIR camera market, driving innovation and adoption across both military and civilian sectors.
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The SWIR camera market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market is characterized by its versatile applications across various industries. SWIR technology is integral to defense equipment, enabling vehicle navigation even in adverse conditions by detecting colors and properties of materials. It plays a crucial role in craft inspection, spectrometry, and astronomy, facilitating climate change experiments and ecosystem evaluation. In healthcare, SWIR cameras aid in microbe and disease assessment, while in other sectors like ergonomics and psychology, they contribute to water-cooled systems and fan-cooled systems' monitoring. SWIR cameras find applications in the food & beverage industry and agriculture industry, optimizing operational costs and work efficiency through moisture detection. With drones increasingly utilizing SWIR technology for agricultural production, the market is witnessing SWIR cameras emerge as a significant revenue contributor in the area scan segment across various verticals, including process industries and industrial heating system monitoring.
By End-user
The market share growth by the defense and military segment will be significant during the forecast period. SWIR cameras are used in various applications in the defense and military sector, such as night vision, target acquisition, missile detection, and weapon and vehicle vision. These cameras provide the military with various advantages in terms of night visibility and combat drills. Their precision in the SWIR visibility range enables soldiers to perform defense operations at night.
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The defense and military segment showed a gradual increase in the market share of USD 65.11 million in 2018. Defense and military expenditure is increasing globally due to factors such as the US-China tensions and civil unrest. In addition, the rising geopolitical tensions between countries have led to a significant increase in military spending globally. These factors are expected to drive the growth of the military and defense segment during the forecast period.
SWIR area cameras are general-purpose shortwave infrared cameras, which offer easier setup and alignment than shortwave infrared linear cameras. SWIR area cameras are best suited for applications where the object is stationary, even if only momentarily. In addition, major reasons for the growth of the shortwave infrared area camera segment include fixed resolutions of cameras, simpler installation, easy and quick access to images of a defined area, and greater flexibility as a single image can be segmented into multiple regions or portions to look for specific objects. Consequently, the availability of several numbers of shortwave infrared area cameras and the usage of SWIR area cameras for various applications like defense, military, healthcare, and others will increase the demand for SWIR cameras and drive the segment growth, which in turn will drive shortwave infrared camera market growth during the forecast period.
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APAC is estimated to contribute 37% to the growth of the global market during the forecast period.
Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The growth of the market in APAC is attributed to various factors, such as the rising demand for SWIR cameras and machine vision cameras. APAC will grow at the fastest rate, with the rapid transition from analog to digital devices. Countries such as China, Japan, and India are investing significantly in their military and defense sectors.
Moreover, the rise in defense spending is fueled by increasing security concerns due to terrorist attacks. Thus, the use of SWIR cameras is rising in the region. Japan, China, South Korea, and India are the major revenue contributors in this region owing to the presence of various industrial manufacturing units, such as automotive manufacturing, paper manufacturing, glass manufacturing, computer accessories manufacturing, and semiconductor foundries. Hence, such factors are expected to drive SWIR camera market growth in this region during the forecast period.
The market is driven by a myriad of factors, including the increasing demand for defense equipment and the rising adoption of SWIR technology in vehicle navigation systems, especially for operation in adverse conditions. SWIR cameras find extensive applications in diverse sectors such as craft inspection, agriculture, and industrial heating system monitoring, contributing significantly to operational efficiency and revenue generation. However, challenges such as high operational costs and the need for specialized expertise hinder market growth. Nonetheless, emerging trends like the use of shortwave infrared cameras in climate change experiments and ecosystem evaluation offer promising opportunities for market expansion.
Increased government investments in military devices is the key factor driving market growth. Governments across the world are investing in next-generation technology in the military segment, mainly to provide military personnel with improved and accurate information. This has driven the market, as the adoption of IR thermography devices has increased in the defense sector. Shortwave infrared cameras are designed to provide rapid target acquisition in military operations. Shortwave infrared cameras deliver night vision to soldiers and enable them to target the object in complete darkness, hence improving situational awareness.
Additionally, the growing geopolitical tensions between countries have contributed to a significant increase in military spending worldwide. Thus, the rise in investments in military modernization will lead to an increase in the adoption of shortwave infrared cameras. SWIR cameras are widely used for intelligence, surveillance, and reconnaissance in military and security applications. Therefore, increasing defense spending worldwide will drive shortwave infrared camera market growth during the forecast period.
Increasing spending on consumer electronics is the primary trend shaping market growth. The high spending on consumer electronics is attributed to the rise in disposable incomes and the growing popularity of digitalization. It represents the money that is available to a household to spend on different goods or services. Thus, growth in disposable incomes will boost consumer spending, which, in turn, will drive the growth of the market. Align with market trends and analysis, the global consumer electronics market is expected to grow due to the growing popularity of technologically advanced electronic devices and the availability of different brands and products at various price points.
Consequently, these factors are influencing market players to launch shortwave infrared cameras for applications such as surveillance. Hence, the high disposable income and the growing demand for electronic goods are likely to increase the spending on consumer electronics, which will boost shortwave infrared camera market growth during the forecast period.
The capital-intensive nature of the market is a significant challenge that may impede SWIR market growth. SWIR cameras are advanced technology-driven equipment and require continuous R&D to add features and applications. Furthermore, as the market is growing, the demand for this equipment is increasing. Hence, to cater to the growing needs of consumers, foundries require substantial amounts of capital to expand their production capacity and invest in R&D.
Moreover, market players continue to focus on R&D, and it takes a lot of failures and capital investments before they can come up with a new technology or a new product. Hence, these additional investments in innovative products and endeavors to upskill employees add to the net cost of the market players, which poses a challenge for the market. Thus, such factors are likely to pose a challenge to the shortwave infrared camera market growth during the forecast period.
The SWIR camera market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the shortwave infrared camera market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The shortwave infrared camera market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The SWIR camera market witnesses robust growth driven by its diverse applications and advanced technologies. InGaAs image sensors enable high-resolution imaging through atmospheric obscurants, crucial for surveillance systems in the military & defense vertical. SWIR cameras play pivotal roles in driver vision augmentation and solar cell safety checks, penetrating fog, smoke, and haze with precision. They find applications in marine intelligence and vision enhancement, detecting explosive and non-explosive objects. With capabilities like low-light and night vision imaging, SWIR cameras aid covert illumination in various scenarios.
Moreover, import and export regulations, including ITAR compliance, influence global adoption. Key players like Sensors Unlimited lead innovation in detector technologies, offering both uncooled and cooled camera technology solutions for scientific research, climate change studies, and medical applications like dental OCT and bone micro-fracture identification. Shortwave IR cameras equipped with uncooled camera technology are pivotal in various sectors. They analyze air temp, water vapor, and chemical composition, detecting explosive objects and aiding low-light vision imaging. In scientific research applications, they facilitate microbe and disease analysis and offer high-resolution inspection in industries like food & beverages and medical sectors.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.51% |
Market Growth 2024-2028 |
USD 144.71 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.95 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, market growth analysis , Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alkeria Srl, Ascendent Technology Group Inc., Attollo Engineering, BaySpec Inc., Episensors, Exosens, Guohui OPTO electronic, Hamamatsu Photonics KK, Hangzhou Viewsheen Technology Co. Ltd., HEICO Corp., Intevac Inc., Leonardo DRS, Nedinsco, New Imaging Technologies, Photon Etc. Inc., Princeton Infrared Technologies Inc., Raptor Photonics Ltd., Raytheon Technologies Corp., SWIR Vision Systems Inc., Teledyne Technologies Inc., Tibidabo Scientific Industries Ltd., TKH Group NV, and TriEye LTD. |
Market dynamics |
Parent growth market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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