Shortwave Infrared Market Size, Share, Growth Analysis, By Wavelength Range(Short Wavelength Infrared (SWIR): 1.4 - 1.8 micrometers, Mid-Wavelength Infrared (MWIR): 1.8 - 3 micrometers), By Applications(Defense and Security, Industrial Manufacturing), By Components(SWIR Cameras, SWIR Sensors) - Industry Forecast 2024-2031

Global Shortwave Infrared Market size was valued at USD 181.53 billion in 2022 and is poised to grow from USD 197.32 billion in 2023 to USD 384.60 million by 2031, growing at a CAGR of 8.7% in the forecast period (2024-2031).

In recent years, the Shortwave Infrared market globally has in recent times experienced a change in consumer preferences and demands mainly on its diverse uses in an array of sectors. SWIR technology that operates in wavelengths ranging between 1.4 and 3 microns has emerged useful in fields such as defense and security industry, mechanical industry, medical area, among others. This market has been dominated by the industry with several applications in defence and security. Night vision, surveillance, and target detection use SWIR cameras and sensors. Defense application of the technology comes about due to the penetrating power that enables it to overrun such weather conditions as fog and smoke. Continuous efforts are aimed at improving efficacy while minimizing expenses associated with SWIR detectors. Adoption will also widen in industries as technological progress is anticipated; for example, more miniature and less expensive SWIR cameras will emerge.

The SWIR market can experience rapid growth but this may be hindered by factors like high startup costs as well as low consumer understanding. The market is thus expected to increase in relation to addressing these challenges and making people aware of the advantages of SWIR technology. Besides, in industrial applications, SWIR imaging is used during quality control and for inspection purposes. Its capability to identify defects in materials that are not visible to the human eye is crucial for ensuring the integrity of manufacturing processes.