How has the swir market evolved, and where is it heading next?
The swir market size has grown strongly in recent years. It will grow from $2.38 billion in 2024 to $2.58 billion in 2025 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to rising investments in the military and defense sector, increasing adoption of SWIR technology for semiconductor inspection, expanding applications of SWIR technology in diverse industries such as surveillance, agriculture, and medical imaging, increasing penetration of SWIR technology in the commercial, industrial, and automotive sectors, rising demand for SWIR cameras in the food and beverage industries.
The swir market size is expected to see strong growth in the next few years. It will grow to $3.58 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to the increasing adoption of SWIR cameras in the oil and gas, glass, and medical industries, increasing use of SWIR cameras for craft inspection, spectrometry, and astronomy, growing need for SWIR cameras in ergonomics and psychology research, expanding applications of SWIR cameras in-vehicle navigation, especially in adverse conditions such as fog, snow, or dust, increasing adoption of SWIR cameras by governments. Major trends in the forecast period include the integration of SWIR technology into night vision systems, research and development initiatives, adoption of SWIR cameras in process industries, use of SWIR cameras for driver vision augmentation, and advancements in image sensors.
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What are the key drivers behind the rapid expansion of the swir market?
The increasing military and defense investments are expected to propel the growth of the SWIR market going forward. The military and defense industry encompasses the development, production, and supply of military equipment, technologies, and services for national defense and security purposes. The military and defense industries are rising due to increasing geopolitical tensions, technological advancements, and the growing need for national security and defense modernization. Military and defense investments drive SWIR adoption by funding advancements in imaging technology for enhanced surveillance, reconnaissance, and target identification capabilities. For instance, in April 2023, according to a report published by the Stockholm International Peace Research Institute, a Sweden-based international institute, global military spending reached an all-time high of $2,240 billion in 2022, reflecting a 3.7% increase in real terms. Notably, military expenditure in Europe saw a significant 13% rise over the year. Therefore, increasing military and defense investments are driving the SWIR market.
What is the segmentation for the swir market?
The swir market covered in this report is segmented –
1) By Type: Area Scan, Line Scan
2) By Technology: Cooled, Uncooled
3) By End-User: Electronics And Communication, Aerospace, Food And Beverage, Automotive, Medical And Healthcare, Military And Defense, Other End-Users
Subsegments:
1) By Area Scan: Multispectral Area Scan SWIR Cameras, Hyperspectral Area Scan SWIR Cameras, High-Speed Area Scan SWIR Cameras
2) By Line Scan: Continuous Line Scan SWIR Cameras, High-Resolution Line Scan SWIR Cameras, High-Speed Line Scan SWIR Cameras
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Who are the most influential companies in the swir market?
Major companies operating in the SWIR market are BAE Systems, Thales Group, Raptor Photonics Ltd., Leonardo DRS Inc., Hamamatsu Corp., Jenoptik AG, FLIR Systems Inc., Gooch & Housego Plc, Teledyne DALSA Inc., Sofradir, Lynred, Xenics NV, Sensors Unlimited Inc., InView Technology Corporation, IRCameras LLC, Episensors Inc., Allied Vision, Sierra-Olympic Technologies Inc., Irnova AB, New Imaging Technologies, Photon Etc Inc., Princeton Infrared Technologies Inc., SWIR Vision Systems Inc., QmagiQ LLC
What are the most influential trends expected to drive the swir market forward?
Major companies operating in the SWIR market are developing innovative technology, such as shortwave infrared (SWIR) cameras, to gain a competitive edge in the market. SWIR cameras are a compact industrial and advanced scientific camera series that utilize InGaAs sensor technology to image in the short-wave infrared spectrum ranging from 900 nm to 1,700 nm. For instance, in November 2022, Allied Vision Technologies GmbH, a Germany-based company that specializes in developing industrial machine vision cameras and imaging solutions, launched four new shortwave infrared cameras named Goldeye. These cameras are equipped with dual-stage sensors, cooling systems, and image correction features, enabling the detection of wavelengths from 1.9 to 2.2 micrometers. They are versatile for applications such as laser beam profiling, detecting waste and water content, identifying foreign objects, and contamination.
What are the major regional insights for the swir market, and which region holds the top position?
North America was the largest region in the SWIR market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the SWIR market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The SWIR Market Report 2025 Offer?
The swir market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Short-wave infrared (SWIR) refers to a specific band of the infrared spectrum that spans wavelengths from approximately 1,000 nanometers (nm) to 3,000 nm. SWIR imaging is used in various applications, including industrial inspection, surveillance, and scientific research, due to its ability to penetrate materials such as smoke, haze, and certain fabrics and to provide detailed images that are not visible in the visible light spectrum.
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