Shortwave Infrared Market by Scanning Type, Technology, Vertical And Geography - Global Forecast to 2023

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Sep 19, 2017, 14:34 ET

NEW YORK, Sept. 19, 2017 /PRNewswire/ -- "High demand from industrial vertical fueling the growth of SWIR market"
The SWIR market is expected to grow at a CAGR of 7.68% between 2017 and 2023, to reach USD 1,357.7 million by 2023 from USD 809.9 million in 2016. The high demand for SWIR cameras from the industrial vertical is one of the major factors fueling the growth of the said market. Semiconductor inspection, thermography, solar cell inspection, and glass inspection are some of the applications for which SWIR cameras are used in the industrial vertical. The high price of SWIR cameras compared with other substitute technologies has hampered the widespread application of these cameras. This is currently the major factor limiting the growth of the said market.

Read the full report: https://www.reportlinker.com/p05106686

"Growth of SWIR market expected to be driven by line scan cameras during forecast period"
The market for line scan SWIR cameras is expected to witness significant growth during the forecast period. The major applications of line scan cameras are in the industrial vertical. These cameras are well suited for applications requiring imaging of fast-moving objects, and their cost is lower than that of area scan cameras, thereby leading to their wide adoption in the industrial vertical.

"Market for cooled SWIR segment expected to grow at highest CAGR during forecast period"
The SWIR market based on technology is segmented into cooled and uncooled cameras. Cooled SWIR cameras have detectors that are usually more sensitive than uncooled SWIR cameras, while the cost of uncooled cameras is generally lower than that of cooled cameras. The high cost of cooled SWIR cameras is currently limiting the penetration rate of these cameras. However, technological advancements in the SWIR industry are expected to lower down the cost of SWIR cameras, thereby boosting the growth of the cooled SWIR market.

"Market in APAC to witness significant growth during forecast period"
The SWIR market in APAC is expected to grow at the highest CAGR during the forecast period. China, Japan, and South Korea are some of the major countries driving the growth of the said market in this region. The high demand for SWIR cameras from industrial, military and defense, and commercial verticals of these countries is one of the major factors fueling the growth of the said market. North America held the largest size of the SWIR market in 2016 and is expected to witness significant growth during the forecast period. The increasing demand for SWIR cameras, especially cooled cameras, from the scientific research vertical is one of the major factors accelerating the growth of the said market in North America.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the SWIR market. Following is the breakup of the profiles of primary participants for the report:
• By Company Type: Tier 1—35 %, Tier 2—45%, and Tier 3—20%
• By Designation: C-Level Executives—35%, Directors—25%, and Others—40%
• By Region: North America—45%, Europe—20%, APAC—30%, and RoW—5%
Moreover, the report profiles the key players in the SWIR market and analyzes their market ranking. The prominent players profiled in this report are Sensors Unlimited (US), FLIR Systems (US), Xenics (Belgium), New Imaging Technologies (France), Allied Vision Technologies (Germany), Hamamatsu Photonics K.K. (Japan), Photon etc. (Canada), Princeton Instruments (US), Sofradir Group (France), and Raptor Photonics (UK).

Research Coverage:
This research report categorizes the SWIR market on the basis of scanning type, technology, vertical, and geography. The report also provides a description of the major drivers, restraints, challenges, and opportunities pertaining to this market, as well as the value chain analysis and market ranking analysis.

Reasons to Buy the Report:
The report would help the leaders/new entrants in the SWIR market in the following ways:
1. The report segments the SWIR market comprehensively and provides the closest market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for the SWIR market.
3. The report would help stakeholders understand their competitors better and gain insights to improve their position in the SWIR market. The competitive landscape section describes the competitor ecosystem.

Read the full report: https://www.reportlinker.com/p05106686

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