Global Hyperspectral Imaging Systems Market Insights Forecasts to 2032
- The Global Hyperspectral Imaging Systems Market Size was valued at USD 16.1 Billion in 2022.
- The Market is growing at a CAGR of 11.3% from 2022 to 2032.
- The worldwide Hyperspectral Imaging Systems Market size is expected to reach USD 47.3 Billion by 2032.
- Asia Pacific is expected to grow the fastest during the forecast period.
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The Global Hyperspectral Imaging Systems Market Size is expected to reach USD 47.3 Billion by 2032, at a CAGR of 11.3% during the forecast period 2022 to 2032.
Imaging spectroscopy devices is a different term for hyperspectral imaging. In terms of picture quality, hyperspectral imaging varies from multispectral imaging and delivers more sensitivity than conventional or multispectral imaging. These systems have a wide range of applications in industries such as healthcare, research and development, the food industry, the military industry, and others, such as remote sensing, calorimetry, and night vision. In terms of image quality, hyperspectral imaging differs from multispectral imaging, and it has better sensitivity than conventional or multispectral imaging, among other advantages. Using multispectral imaging as an example, each dataset comprises between 2 and 20 shots, whereas hyperspectral imaging has more than 20 photos per dataset. Furthermore, multispectral imaging provides 4 to 20 data points per pixel, but hyperspectral imaging covers the whole spectrum per pixel (and hence costs more). In addition, hyperspectral imaging has several advantages, including the absence of the need for prior information to use the spectrum at each place. Furthermore, it contains a wealth of information for evaluating and processing the image. Many firms are investing in hyperspectral imaging technology because of its benefits.
This research report categorizes the global hyperspectral imaging systems market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global hyperspectral imaging systems market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global hyperspectral imaging systems market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.
Global Hyperspectral Imaging Systems Market Report Coverage
|Market Size in 2021:||USD 16.1 Bn|
|Forecast Period:||2022 – 2032|
|Forecast Period 2022 – 2032 CAGR:||11.3%|
|022 – 2032 Value Projection:||USD 47.3 Bn|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||140|
|Segments covered:||By Product, By Technology, By Application, By End User, By Region.|
|Companies Covered:||Imec, XIMEA GmbH, Resonon, Inc., Headwall Photonics, Inc., Telops Inc., Corning Incorporated, Norsk Elektro Optikk AS, Surface Optics Corporation, Bayspec Inc., Applied Spectral Imaging, Spectral Imaging Ltd., Pixxel, Surface Optics Corporation and Others.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The increased need for data integrity and consistency in HIS (hyperspectral imaging technology) applications like weather, food, agriculture, and defense is driving market demand. HSI applies solid analytical approaches in industries like food and agriculture that leverage picture technology. Hyperspectral imaging systems capture pictures in over a hundred neighbouring spectral bands. While hyperspectral photography is useful for material characterization and identification, multispectral imagery is useful for distinguishing between landscape patterns and land surface elements. Individual pixel analysis is usually useful for recognizing specific items in a picture and mapping element distribution. Hyperspectral imaging sensors have an advantage over other spectral systems, such as multispectral sensors, in their ability to measure and detect molecular absorption. Moreover, with developments in image processing and analysis hardware and software, there is an increased application of hyperspectral imaging technology in numerous research projects throughout the world. HIS has higher specificity and granularity, faster picture capture speed than other spectrum imagers, and non-invasive imaging.
Fast computers, sensitive detectors, and enormous data storage capacity are required for the analysis of hyperspectral data. Hyperspectral cubes are enormous multi-dimensional datasets that can exceed hundreds of gigabytes in size, necessitating a significant amount of data storage space. These variables greatly raise the total cost of getting and analyzing hyperspectral data. Because it is difficult and expensive to transport and keep such large volumes of data, researchers confront similar issues in sorting through the data on their while using just the most important images.
- In 2022, the camera segment is dominating the market with the largest market share over the forecast period.
Based on the product, the global hyperspectral imaging systems market is segmented into cameras and accessories. Throughout these segments, the camera segment is influencing the market with the largest revenue share during the forecast period. A hyperspectral camera measures the intensity of light over a wide variety of spectral bands. With this feature, every pixel in the image has a continuous spectrum, which may be utilized for precise and detailed item identification. Furthermore, the availability of low-cost cameras and increased computer power are expected to drive greater usage of these devices during the projection period. Furthermore, recent advances in sensor development, for example, have contributed to the expansion of the camera industry. Recent advancements include high-speed and low-cost circuits, sophisticated manufacturing processes, and unique signal-processing approaches. These advancements are expected to improve the quality, economic efficiency, and dependability of technological goods.
- In 2022, the snapshot segment is influencing the largest market share over the forecast period.
Based on the technology, the global hyperspectral imaging systems market is classified into push broom, snapshot, and others. Among these segments, the snapshot segment is dominating the market. Several reasons contribute to the rising use and extended applications of snapshot technology in hyperspectral imaging systems, such as patient snapshots, which provide an aggregated picture of a patient's whole clinical data at once. Snapshot hyperspectral imaging systems are capable of real-time imaging, allowing for quick data gathering and processing.
- In 2022, the military segment is dominating the largest market share over the forecast period.
On the basis of application, the global hyperspectral imaging systems market is classified into the military, remote sensing, medical diagnostics, machine vision & optical sorting, and others. Among these segments, the military segment is leading the market due to advancements in data management and component production procedures. Hyperspectral imaging has several military uses, including tracking and identification of soldiers and other objects. Better precision and consistency as compared to other traditional imaging techniques are driving category development.
- In 2022, the healthcare segment is leading the largest market growth during the forecast period.
Based on the end user, the global hyperspectral imaging systems market is classified into food & agriculture, healthcare, defense, mining & metrology, and others. Among these segments, the healthcare segment is dominating the market owing to its non-contact, non-ionizing, and label-free imaging modalities, hyperspectral imaging can be an important tool for research and illness detection in the healthcare industry. hyperspectral imaging technology must be used in the healthcare business. Furthermore, the rising number of investments in the area is expected to stimulate the growth of this subject. The present digital transformation in the healthcare business is projected to have a significant influence on the industry. Furthermore, portable hyperspectral imaging sensors are increasingly being integrated into healthcare operations for applications such as speedy, non-invasive examination of healthy or sick tissue in outpatient surgical centers and wider usage of small drones or unmanned aerial vehicles for life-saving interventions.
Regional Segment Analysis of the hyperspectral imaging systems market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America dominated the market with the largest market revenue during the forecast period
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North America is dominating the significant market growth during the forecast period due to the region's outstanding healthcare infrastructure, high healthcare spending, adoption of innovative technology, and the presence of a significant number of industry participants. Furthermore, increased financing has bolstered scientific efforts in the region. The United States spends the greatest money per person on healthcare and has the most research funds and grants accessible through government institutions such as the National Institutes of Health (NIH). The increased focus on healthcare and associated measures, such as the Patient Protection and Affordable Care Act, is propelling market expansion.
Asia Pacific is expected to experience high revenue market growth during the forecast period, due to the availability of a huge pool of patients, increased healthcare awareness, government financing for R&D, and planned research initiatives. The growing need for hyperspectral imaging in research, remote sensing, and mining exploration is expected to boost regional market expansion.
The report offers the appropriate analysis of the key organizations/companies involved within the global hyperspectral imaging systems market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- XIMEA GmbH
- Resonon, Inc.
- Headwall Photonics, Inc.
- Telops Inc.
- Corning Incorporated
- Norsk Elektro Optikk AS
- Surface Optics Corporation
- Bayspec Inc.
- Applied Spectral Imaging
- Spectral Imaging Ltd.
- Surface Optics Corporation
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In September 2022, The Pika IR-L and Pika IR-L+ are two new NIR range (925 - 1700 nm) hyperspectral imagers from Resonon. The new pictures are smaller, three times lighter, and have greater spectral resolution than the current generation of NIR images.
- In July 2022, Headwall Photonics announced its acquisition of Holographix LLC to increase its production capabilities to meet future expansion.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Hyperspectral Imaging Systems Market based on the below-mentioned segments:
Global Hyperspectral Imaging Systems Market, By Product
Global Hyperspectral Imaging Systems Market, By Technology
- Push broom
Global Hyperspectral Imaging Systems Market, By Application
- Remote Sensing
- Medical Diagnostics
- Machine Vision
- Optical Sorting
Global Hyperspectral Imaging Systems Market, By End Users
- Food & Agriculture
- Mining & Metrology
Hyperspectral Imaging Systems Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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