In a recent published report, Kenneth Research has updated the market report for Shortwave Infrared (SWIR) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Shortwave Infrared (SWIR) Market products.
Kenneth Research has published a detailed report on Shortwave Infrared (SWIR) Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
The Global Shortwave Infrared (SWIR) Market was valued at USD 815.32 million in 2016 and is projected to reach USD 1592.19 million by 2025, growing at a CAGR of 7.72% from 2017 to 2025.
Short-wave infrared (SWIR) light is typically defined as light in the 0.9 – 1.7μm wavelength range, but can also be classified from 0.7 – 2.5μm. SWIR technology is used in a variety of applications including electronic board inspection, solar cell inspection, produce inspection, identifying and sorting, surveillance, anti-counterfeiting, process quality control. Benefits of SWIR includes high sensitivity, high resolution, seeing in the light of night glow or night sky radiance, day-to-night imaging, covert illumination, able to see covert lasers and beacons, no cryogenic cooling required, conventional, low-cost visible spectrum lenses, small size, and low power.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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1. Market Drivers
1.1 Rising application areas of SWIR cameras
1.2 Increasing demand for SWIR line scan cameras for machine vision applications
1.3 Adoption of SWIR cameras in military and defense sector
1.4 Technological enhancements in SWIR detectors
2. Market Restraints
2.1 High cost of SWIR cameras
2.2 Strict import and export regulations that restrain the market growth
The Global Shortwave Infrared (SWIR) Market is segmented on the technology, scanning type, vertical, and region.
2. By Scanning Type:
2.1 Line Scan
2.2 Area Scan
3. By Vertical:
3.1 Military & Defense
3.2 Scientific Research
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Allied Vision Technologies GmbH
2. Sofradir Group
3. New Imaging Technologies
4. Sensors Unlimited Inc.
5. Xenics NV
6. Flir Systems, Inc.
7. Hamamatsu Photonics K.K.
8. Raptor Photonics Limited
9. Photon Etc.
10. Princeton Instruments
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Shortwave Infrared (SWIR) Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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