Hyperspectral Imaging Systems Market – Global Industry Analysis and Forecast (2022 to 2029)

Hyperspectral Imaging Systems Market was valued at US$ 16.2 Bn. in 2021. The Global Hyperspectral Imaging Systems Market size is estimated to grow at a CAGR of 18.6 % over the forecast period.

Hyperspectral Imaging Systems Market Overview:

The report explores the Hyperspectral Imaging Systems market's segments (Product, Application, Technology, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Hyperspectral Imaging Systems market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Hyperspectral Imaging Systems market's contemporary competitive scenario. Hyperspectral Imaging Systems Market To Know About The Research Methodology :- Request Free Sample Report 2021 is considered as a base year to forecast the market from 2022 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.

Hyperspectral Imaging Systems Market Dynamics:

The development of spectrographs and detectors over the past decade has resulted in substantial cost reductions and improvements in instrumentation capabilities. This has led to the increasing use of hyperspectral imaging in a variety of applications. Hyperspectral cameras acquire a 3D view of the world and its spectral data. This is useful when images have to encompass a large area and may encode a large amount of data. The Hyperspectral Imaging System was developed initially for remote sensing applications such as satellite imaging of the earth. However, with technological advancements, the system has become smaller, more affordable, and more effective in a wide range of applications, including agriculture, pharmaceuticals, food testing, medical diagnostics, art research, and waste management. There has been an increase in funding and investments in hyperspectral imaging technologies. Technology advances and accelerated research demand for a wide range of applications have boosted the market demand for hyperspectral imaging technologies. A variety of applications have been successfully implemented using hyperspectral imaging as a result of increasing data management techniques and improved component fabrication, from food inspection to pathogen detection to airport security. Scientists can use the spectral fingerprints they obtain to compare them to the chemical composition, materials, liquids, events, and activities present in a scene. This will enable them to detect, identify, and characterize those substances, which can be attributed to a specific location on the scene. Researchers are collaborating with industry partners to create new ways of using and analyzing HSI videos for a variety of purposes. Using conventional imaging technology and spectroscopy, scientists developed spectral imaging to receive information on both spatial and spectral parameters. Players in the HSI systems market can expect growth opportunities in emerging economies in Asia and Latin America. For example, in China, several hyperspectral sensors have been developed for the rapid mapping of natural resources using remote sensing techniques. A Chinese project called Zhuhai-1, which combines 34 micro-nano satellites, including video, HSI, and high-resolution optical satellites, along with radar and infrared satellites, was launched in 2020, launching five new remote sensing satellites. However a bit of cost implementing and maintaining these systems hinders the growth of the market, there is also a lack of standardization, which also inhibits the market growth. It is challenging for marketers to adjust to the fluctuating production rates in the medical industry for diagnostic purposes, as well as the complex processes involved with hyperspectral imaging. Additionally, to store data effectively, a large amount of space is required, and skilled individuals are required to analyze the data from every angle, which restrain the market growth of hyperspectral imaging systems.

Hyperspectral Imaging Systems Market Segment Analysis:

Based on Product, the Hyperspectral Imaging Systems Market is segmented into Cameras and Accessories.The Cameras segment has the highest market share in 2021. Several factors will drive the growth of the hyperspectral cameras market, including technological advancements, the development of affordable hyperspectral imaging cameras, and the adoption of hyperspectral technology for military and industrial applications. Hyperspectral Imaging Systems Market Based on Application, the Hyperspectral Imaging Systems Market is segmented into Military, Remote Sensing, Life Science & Medical Diagnostic, Machine Vision & Optical Sorting, and Other.The Military segment has the highest market share in 2021. Improvements in hyperspectral imaging data management techniques and component fabrication techniques, as well as a better ability to produce accurate and consistent imaging data (in comparison with other conventional imaging techniques), have been driving the use of hyperspectral imaging systems in military surveillance applications. Military applications exploit the ability to differentiate materials to detect and identify camouflaged targets, so hyperspectral images captured by satellites, aircraft, or unmanned aerial vehicles can provide potential advantages in homeland security and surveillance. Hyperspectral imaging sensors are used in various defense applications, including high-altitude reconnaissance aircraft and commercial aircraft operating in medium-altitudes. Pentagon's Defense Innovation Unit started seeking offers from US operators for remote sensing satellites that can provide data analytics and imagery services related to remote sensing technologies, including hyperspectral imaging, synthetic aperture radar, and electro-optical imaging. Based on Technology: the Hyperspectral Imaging Systems Market is segmented into Push broom, Snapshot, and Other.The Snapshot segment has the highest market share in 2021 and it will boost the market growth during the forecast period. A major factor behind its growth is the advantages provided by snapshot hyperspectral imaging systems, which make this technology optimal for real-time analysis. Government funding, as well as new product launches, are also supporting the growth of this market.

Hyperspectral Imaging Systems Market Regional Insights:

The North America region has the highest market share in 2021. Increasing innovations in surveillance in this region are expected to boost the market's growth. Because of the presence of countries such as the US that have made significant investments in surveillance. A variety of law enforcement agencies use advanced technology to monitor and track multiple individuals or vehicles during the day and at night and monitor the activities in a particular area in addition to the military. Such deployments are expected to increase the use of hyperspectral imaging systems, and therefore, hyperspectral imaging devices. The US has a large military expenditure. The US Congress, in its fiscal 2022 budget, requested USD 715 billion for the Defense Department, an increase of USD 10 billion compared to the fiscal 2021 budget. According to the budget for fiscal 2022 released in May 2021, the Biden administration requested USD 753 million for national defense, an increase of 2% over the prior year. The Pentagon's budget of USD 715 billion is likely to fund weapon programs and key national security priorities. Another USD 38 billion has been added for defense-related programs by DOE and other federal agencies. US soldiers have discovered thousands of pounds of explosives hidden on the battlefield in Afghanistan by using hyperspectral imagers to spot objects that are normally hidden from sights, such as camouflaged tanks or smoke coming from an improvised bomb factory. The Asia Pacific region is witnessing the fastest-growing region during the forecast period. Technological improvements have led to the development of cost-effective hyperspectral imaging systems, which are being used in commercial applications in the price-sensitive Asia Pacific. This is the main reason for the high growth of this market. China, Japan, and India offer significant growth opportunities for hyperspectral imaging. China currently represents a huge market for cameras that detect hyperspectral data due to its booming economy. The objective of the report is to present a comprehensive analysis of the global Hyperspectral Imaging Systems Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Hyperspectral Imaging Systems Market dynamic, and structure by analyzing the market segments and projecting the Hyperspectral Imaging Systems Market size. Clear representation of competitive analysis of key players by Design, price, financial position, Product portfolio, growth strategies, and regional presence in the Hyperspectral Imaging Systems Market make the report investor’s guide.

Hyperspectral Imaging Systems Market Scope: Inquire before buying

Global Hyperspectral Imaging Systems Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US$ 16.2 Bn.
Forecast Period 2022 to 2029 CAGR: 18.6% Market Size in 2029: US$ 53.4 Bn.
Segments Covered: by Product • Cameras • Accessories
by Application • Military • Remote Sensing • Life Sciences & Medical Diagnostics • Machine Vision & Optical Sorting • Other
by Technology • Push broom • Snapshot • Others

Hyperspectral Imaging Systems Market by Region:

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Hyperspectral Imaging Systems Market Key Players:

• Applied Spectral Imaging • Bayspec, Inc • Brandywine Photonics • Chemimage Corporation • Clyde Hsi • Corning Incorporated • Cubert Gmbh • Cytoviva, Inc • Diaspective Vision • Galileo Group, Inc • Gamaya • Hinalea Imaging • Imec • Inno-Spec Gmbh • Orbital Sidekick • Photon Etc • Resonon Inc • Telops Inc • Ximea Gmbh Frequently Asked Questions: 1. What is the study period of the market? Ans. The Global Hyperspectral Imaging Systems Market is studied from 2017-2029. 2. What is the growth rate of Hyperspectral Imaging Systems Market? Ans. The Global Hyperspectral Imaging Systems Market is growing at a CAGR of 18.6% over next 7 years. 3. Which region has largest share in The Global Hyperspectral Imaging Systems Market? Ans. North America holds the largest share. 4. What is the Global Hyperspectral Imaging Systems Market segment based on Technology? Ans. Based on Technology, The Global Hyperspectral Imaging Systems Market is divided into Push broom, Snapshot, and Others. 5. Who are the key players in the Global Hyperspectral Imaging Systems Market? Ans. The key players in the Global Hyperspectral Imaging Systems Market are Applied Spectral Imaging, Bayspec, Inc, Brandywine Photonics, Chemimage Corporation, Clyde His, Corning Incorporated, Cubert Gmbh, Cytoviva, Inc, Diaspective Vision, Galileo Group, Inc, Gamaya, Hinalea Imaging, Imec, Inno-Spec GmbH, Orbital Sidekick, Photon Etc, Resonon Inc, Telops Inc, and Ximea GmbH.
1. Global Hyperspectral Imaging Systems Market Size: Research Methodology 2. Global Hyperspectral Imaging Systems Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Hyperspectral Imaging Systems Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Hyperspectral Imaging Systems Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Hyperspectral Imaging Systems Market Size Segmentation 4.1. Global Hyperspectral Imaging Systems Market Size, by Product(2021-2029) • Cameras • Accessories 4.2. Global Hyperspectral Imaging Systems Market Size, by Application(2021-2029) • Military • Remote Sensing • Life Sciences & Medical Diagnostics • Machine Vision & Optical Sorting • Other 4.3. Global Hyperspectral Imaging Systems Market Size, by Technology(2021-2029) • Push broom • Snapshot • Other 5. North America Hyperspectral Imaging Systems Market (2021-2029) 5.1. North America Hyperspectral Imaging Systems Market Size, by Product(2021-2029) • Cameras • Accessories 5.2. North America Hyperspectral Imaging Systems Market Size, by Application(2021-2029) • Military • Remote Sensing • Life Sciences & Medical Diagnostics • Machine Vision & Optical Sorting • Other 5.3. North America Hyperspectral Imaging Systems Market Size, by Technology(2021-2029) • Push broom • Snapshot • Other 5.4. North America Hyperspectral Imaging Systems Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Hyperspectral Imaging Systems Market (2021-2029) 6.1. European Hyperspectral Imaging Systems Market, by Product(2021-2029) 6.2. European Hyperspectral Imaging Systems Market, by Application(2021-2029) 6.3. European Hyperspectral Imaging Systems Market, by Technology(2021-2029) 6.4. European Hyperspectral Imaging Systems Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Hyperspectral Imaging Systems Market (2021-2029) 7.1. Asia Pacific Hyperspectral Imaging Systems Market, by Product(2021-2029) 7.2. Asia Pacific Hyperspectral Imaging Systems Market, by Application(2021-2029) 7.3. Asia Pacific Hyperspectral Imaging Systems Market, by Technology(2021-2029) 7.4. Asia Pacific Hyperspectral Imaging Systems Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Hyperspectral Imaging Systems Market (2021-2029) 8.1. Middle East and Africa Hyperspectral Imaging Systems Market, by Product(2021-2029) 8.2. Middle East and Africa Hyperspectral Imaging Systems Market, by Application(2021-2029) 8.3. Middle East and Africa Hyperspectral Imaging Systems Market, by Technology(2021-2029) 8.4. Middle East and Africa Hyperspectral Imaging Systems Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Hyperspectral Imaging Systems Market (2021-2029) 9.1. South America Hyperspectral Imaging Systems Market, by Product(2021-2029) 9.2. South America Hyperspectral Imaging Systems Market, by Application(2021-2029) 9.3. South America Hyperspectral Imaging Systems Market, by Technology(2021-2029) 9.4. South America Hyperspectral Imaging Systems Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Applied Spectral Imaging 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Baysper, Inc 10.3. Brandywine Photonics 10.4. Chemimage Corporation 10.5. Clyde His 10.6. Corning Incorporated 10.7. Cubert GmbH 10.8. Cytoviva, Inc 10.9. Diaspective Vision 10.10. Galileo Group, Inc 10.11. Gamaya 10.12. Hinalea Imaging 10.13. Imec 10.14. Inno-Spec GmbH 10.15. Orbital Sidekick 10.16. Photon Etc 10.17. Resonon Inc 10.18. Telops Inc 10.19. Ximea GmbH

About This Report

Report ID 12619
Category Electronics
Published Date July 2022
Updated Date
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