Short Wave Infrared Market 2015 to grow up to USD 118.9 million by 2022
NEW YORK, Sept. 12, 2016 /PRNewswire/ -- "Increased demand of shortwave IR in military for its night sighting capabilities and technological development of shortwave IR detector are driving the growth of the market"
The global Short Wave Infrared (SWIR) market is expected to grow from USD 66.5 million in 2015 to USD 118.9 million by 2022, at a CAGR of 8.6% from 2016 to 2022. The major drivers for the global Short Wave Infrared (SWIR) market are technological development in terms of size, weight, and power at low cost for military application such as the night sighting capabilities. Night sighting technology is used to detect objects in low light or total darkness using thermal radiations. These devices help to form intensified images which are not visible to naked eyes because of the insufficient light reaching to the eyes from the objects. Thus, night vision technologies with numerous applications are acting as a strong driver for Short Wave Infrared (SWIR) market.
"The manufacturing & process industry segment of the global Short Wave Infrared (SWIR) market held the largest market share in 2015"
The manufacturing & process industry segment held the largest market share in 2015. The main reason for its large market share include increased necessity to detect defects and irregularities that are often not visible to the naked eye, thus helping take corrective measures before the occurrence of system failures.
"North America Short Wave Infrared (SWIR) market is projected to grow at the highest CAGR during the forecast period"
North America segment is expected to grow at the highest CAGR during forecasted period. North America is one of the most technologically advanced application markets due to the presence of prominent system suppliers, large companies, and detector manufacturers. The size of the region, the affluence of its consumers, and the competitiveness of OEMs have resulted in making the region an attractive market for shortwave IR detector manufacturers.
Break-up of the profile of primary participants:
- By Company Type: Tier 1 - 57%, Tier 2 - 26%, and Tier 3 - 17%
- By Designation: C-level - 65%, Director-level - 25%, and Others - 10%
- By Region: Asia-Pacific - 40%, North America - 30%, Europe - 20%, and RoW - 10%
The key players in the global Short Wave Infrared (SWIR) market are Sensors Unlimited, Inc. (U.S.). Teledyne DALSA Inc. (Canada), Xenics (Belgium), Allied Vision Technologies GmbH (Germany), and FLIR Systems Inc. (U.S.).
Reasons to Buy the Report:
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the global Short Wave Infrared (SWIR) market comprehensively and provides the closest approximations of the revenue numbers for overall market and various subsegments across different verticals and regions.
- The report helps stakeholders to gauge the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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