DUBLIN, April 28, 2022 /PRNewswire/ — The “Hyperspectral Imaging System Market by Product (Camera, Accessories), Technology (Snapshot, Push broom), Application (Military, Remote Sensing (Agriculture, Mining, Environmental), Machine Vision, Life Sciences & Diagnostic) – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global hyperspectral imaging systems market is projected to reach USD 35.8 billion by 2026 from USD 15.4 billion in 2021, at a CAGR of 18.4% during the forecast period.
Hyperspectral imaging systems are used to capture narrow spectral bands over a continuous spectral range. Market growth can largely be attributed to factors such as increasing funding and investments in this field and the growing industrial applications of hyperspectral imaging. In addition, the untapped market opportunities in emerging markets are expected to provide growth opportunities for players in this market during the forecast period. However, data storage issues and the high costs associated with hyperspectral imaging systems are expected to limit their adoption, thereby restricting market growth during the forecast period.
Cameras segment is expected to dominate the market during the forecast period.
On the basis of product, the hyperspectral imaging systems market is segmented into cameras and accessories. Cameras commanded the largest share of the hyperspectral imaging systems market, by product, in 2020, and this trend is expected to continue during the forecast period. Technological advancements, the development of affordable hyperspectral imaging cameras, and the increasing adoption of hyperspectral technology for defense and industrial applications are driving the growth of the hyperspectral cameras segment.
Military surveillance segment to dominate the market during the forecast period.
Based on application, the hyperspectral imaging systems market is segmented into military surveillance, remote sensing, machine vision & optical sorting, life sciences & medical diagnostics, and other applications (includes colorimetry, meteorology, thin-film manufacturing, and night vision). The military surveillance segment accounted for the largest share of the hyperspectral imaging systems market in 2020. Advancements in hyperspectral imaging data management and component fabrication techniques, as well as the better accuracy and consistency of hyperspectral imaging data (as compared to other conventional imaging techniques), are the major factors driving the adoption of hyperspectral imaging systems in military surveillance applications.
Asia Pacific is expected to grow at the highest CAGR during the forecast period.
Geographically, the hyperspectral imaging systems market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2020, North America accounted for the largest share of the hyperspectral imaging systems market. North America is the largest market for hyperspectral imaging systems. Asia Pacific market is estimated to register the highest CAGR during the forecast period. Technological advancements have resulted in the development of cost-effective hyperspectral imaging systems, which are being used in several commercial applications in the price-sensitive Asia Pacific region. This is the major factor responsible for the high growth of the Asia Pacific market. Hyperspectral imaging has significant growth opportunities in China, Japan, and India. Currently, China is considered a huge market for hyperspectral cameras due to its flourishing economy.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Hyperspectral Imaging Systems Market Overview
4.2 Asia-Pacific: Hyperspectral Imaging Systems Market, by Application and Country (2021)
4.3 Hyperspectral Imaging Systems Market for Remote Sensing Applications, by Type, 2021-2026
4.4 Hyperspectral Imaging Systems Market: Geographic Growth Opportunities
5 Market Overview
5.2 Market Dynamics
220.127.116.11 Increasing Funding and Investments
18.104.22.168 Growing Industrial Applications of Hyperspectral Imaging
22.214.171.124 Increasing Need for Remote Sensing Data in a Wide Range of Defense/Homeland Security Operations and Commercial Applications
126.96.36.199 Data Storage Challenges and High Costs
188.8.131.52 Untapped Market Opportunities in Emerging Countries
184.108.40.206 Attaining Super-Resolution in a Cost-Effective Manner
5.3 Regulatory Landscape
5.4 COVID-19 Impact on the Hyperspectral Imaging Systems Market
5.5.1 Hyperspectral Imaging Systems Market
5.6 Technology Analysis
5.7 Pricing Analysis
5.8 Trade Analysis
5.9 Patent Analysis
5.10 Value Chain Analysis
5.11 Supply Chain Analysis
5.12 Hyperspectral Imaging Systems Ecosystem
5.12.1 Role in the Ecosystem
5.13 Trends/Disruptions Impacting Customer Business
5.13.1 Revenue Shift and Revenue Pockets for Hyperspectral Imaging System Manufacturers
5.14 Porter’s Five Forces Analysis
6 Hyperspectral Imaging Systems Market, by Product
6.2.1 Hyperspectral Imaging Cameras to Witness the Highest Growth Owing to Their Increasing Applications in Defense & Industrial Applications
6.3.1 Increasing Adoption of Hyperspectral Imaging Systems to Support the Adoption of Associated Accessories
7 Hyperspectral Imaging Systems Market, by Technology
7.2.1 Pushbroom Technology Segment Dominates the Hyperspectral Imaging Systems Market
7.3.1 Snapshot Segment to Witness the Highest Growth During the Forecast Period
7.4 Other Technologies
8 Hyperspectral Imaging Systems Market, by Application
8.2 Military Surveillance
8.2.1 Military Surveillance is the Largest Application Segment of the Hyperspectral Imaging Systems Market
8.3 Remote Sensing
220.127.116.11 Agriculture is the Largest & Fastest-Growing Segment of the Remote Sensing Applications Market
8.3.2 Mining/Mineral Mapping
18.104.22.168 Hyperspectral Imaging Systems Can Accurately Map Areas That Are Spectrally Unique at the Surface to Produce Comprehensive Mineral Maps
8.3.3 Environmental Monitoring
22.214.171.124 Hyperspectral Imaging Systems in Environmental Monitoring Are Used to Monitor Natural Disasters
8.3.4 Other Remote Sensing Applications
8.4 Life Sciences & Medical Diagnostics
8.4.1 Life Sciences & Medical Diagnostics Segment to Register the Highest Growth During the Forecast Period
8.5 Machine Vision & Optical Sorting
8.5.1 Growing Focus on Automation to Increase Productivity in Various Industries Will Drive the Market for Machine Vision and Optical Sorting
8.6 Other Applications
9 Hyperspectral Imaging Systems Market, by Region
10 Competitive Landscape
10.2 Key Player Strategies/Right to Win
10.3 Market Ranking Analysis
10.4 Company Evaluation Quadrant
10.4.2 Emerging Leaders
10.4.3 Pervasive Players
10.5 Company Evaluation Quadrant for SMEs/Start-Ups
10.5.1 Progressive Companies
10.5.2 Starting Blocks
10.5.3 Responsive Companies
10.5.4 Dynamic Companies
10.6 Competitive Scenario
10.6.1 Product Launches
10.6.3 Other Developments
10.7 Company Product Footprint
11 Company Profiles
11.1 Key Players
11.1.1 Headwall Photonics, Inc.
11.1.2 Specim, Spectral Imaging Ltd.
11.1.3 Norsk Elektro Optikk As
11.1.4 Resonon Inc.
11.1.5 Corning Incorporated
11.1.6 Applied Spectral Imaging
11.1.7 Bayspec, Inc.
11.1.8 Chemimage Corporation
11.1.9 Cubert Gmbh
11.1.10 Galileo Group, Inc.
11.1.11 Hypermed Imaging, Inc.
11.1.13 Inno-Spec Gmbh
11.1.14 Surface Optics Corporation
11.1.15 Telops Inc.
11.2 Other Players
11.2.1 Brandywine Photonics
11.2.2 Cytoviva, Inc.
11.2.3 Diaspective Vision
11.2.5 Hinalea Imaging
11.2.6 Orbital Sidekick
11.2.7 Photon Etc.
11.2.8 Ximea Gmbh
11.2.9 Clyde Hsi
11.2.10 Glana Sensors Ab
For more information about this report visit https://www.researchandmarkets.com/r/avdl37
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets