Hyperspectral Imaging Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2026


Transparency Market Research

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The demand within the global hyperspectral imaging systems market has been rising on account of advancements in the field of spatial imaging. The need for improved analysis of distinct components within a spectral image is felt across a wide range of industries. It is expected that the global hyperspectral imaging systems market would increase in size and revenues in the years to come. This projection can be explained in terms of the multiple applications for hyperspectral imaging in the healthcare industry.

  • Use of hyperspectral imaging systems in the domain of geology and mining has played a vital role in the growth of the global market. Geologists consider hyperspectral imaging systems to be the life of complex operations pertaining to landscape analysis.
  • Hyperspectral imaging systems come in handy for monitoring the health of crops, and hence, the agricultural sector has also emerged as a key end-user of these systems. Moreover, hyperspectral imaging systems act as prewarning devices in case of disease outbreaks on the field.
  • The relevance of hyperspectral imaging systems in mineralogy and food processing is amongst other drivers of market demand.

It is evident that the global hyperspectral imaging systems market has a wide application portfolio. Hence, it is safe to assert that this market gains revenues from multiple sources and avenues. Surveillance, astronomy, and chemical imaging have emerged as new applications of hyperspectral imaging systems in recent times. Furthermore, the use of hyperspectral imaging systems in studying the properties of the human eye has also pushed market growth.

Global Hyperspectral Imaging Systems Market: Overview

There are certain things that are not visible to the naked eye, here hyperspectral imaging comes into play. Hyperspectral imaging is used to identify materials, find objects, or detecting processes. In case of hyperspectral cameras, they combine spectroscopy with digital imaging technique.  

Based on application, the global hyperspectral imaging systems market can be segmented into machine vision/ optical sorting, military surveillance, life sciences & medical diagnostics, and other applications (meteorology, thin film manufacturing, colorimetry, remote sensing, and night vision). On the basis of component, the market is classified into accessories and hyperspectral cameras. 

The report offers a comprehensive overview of various factors contributing to the expansion of the global hyperspectral imaging systems market. It also provides insights into challenges that the market could face over the forecast period. The prevailing trends in overall market operations are also studied in the report in detail. 

Global Hyperspectral Imaging Systems Market: Trends and Prospects

The global hyperspectral imaging systems market is driven by various factors, they include technological innovation in sensor design, quantitative increase of research projects using hyperspectral imaging systems, manufacturing lightweight and compact low-cost cameras, and expanding industrial applications of HIS. The relative complexity of analyzing and processing the high amounts of imaging data acts as a major hindrance to the growth of the market. Plus the high cost of hyperspectral cameras is another drawback for the market growth. 

In terms of application, the life sciences and medical diagnostics segment is said to aid the market growth, and is projected to score a high CAGR in the forecast period. The recent progress in image analysis methods hyperspectral cameras, and computational power providing prospects in medical applications are expected to supplement the market segment. The military surveillance is pegged to be another attractive application segment of the market, and is projected to hold large share of the market in coming years. The growth can be attributed to factors such technological advancements and consistency and accuracy of data.

The hyperspectral cameras segment based on component held a large market share in 2016. Due to the growth of low-cost hyperspectral cameras and rise in adoption for new applications, this segment of the market is set to grow over the forecast period. 

Global Hyperspectral Imaging Systems Market: Regional Analysis

Geographically, the global hyperspectral imaging systems market can be segmented into North America, Europe, Asia Pacific, and Rest of the World. North America is said to account for a large market share, and is expected to lead the market in the forecast period. The market growth in this region can be largely attributed to the factors such as increase in research funding, high adoption of hyperspectral imaging systems in research, growing awareness on the benefits of hyperspectral imaging in commercial industries, and technological advancements. Another promising region for the market is Asia-Pacific, and this region is projected to register a high CAGR over the forecast period. 

Global Hyperspectral Imaging Systems Market: Vendor Landscape

The report profiles some of the key companies operating in the global hyperspectral imaging systems market. It also offers insights into the threats and opportunities that the companies are projected to witness in the coming years. Some of the prominent players in the market are Corning Incorporated, SPECIM, Spectral Imaging Ltd., Headwall Photonics, Inc., Resonon, Telops, Applied Spectral Imaging, BaySpec Inc., Surface Optics Corporation, Norsk Elektro Optikk AS, and ChemImage Corporation.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

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