Hyperspectral Imaging Systems Market Projected To Grow at a CAGR Of 12.50% | Application (Military Surveillance, Machine Vision, Medical Diagnostics) Outlook 2024

Hyperspectral Imaging Systems Market was projected to grow at a CAGR of 12.50% from 2019 to 2024
The global hyperspectral imaging systems market was projected to grow at a CAGR of 12.50% from 2019 to 2024. The global market is estimated and forecasted in terms of revenue (USD billion) generated by the hyperspectral imaging systems market.

Axiom Market Research & Consulting™ added a report on global hyperspectral imaging systems market. The global hyperspectral imaging systems market was projected to grow at a CAGR of 12.50% for the forecast period 2019 to 2024. The global market is estimated and forecasted in terms of revenue (USD billion) generated by the hyperspectral imaging systems market.

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The global hyperspectral imaging systems market is segmented based on application and geography. By application, the hyperspectral imaging systems market is segmented into military surveillance, environmental testing, mining & mineralogy, agriculture, machine control & process vision, life sciences & medical diagnostics, food industry, colorimetry and meteorology. Among various applications, the life sciences & medical diagnostics segment is expected to grow at a lucrative rate during the forecast period of 2019 to 2024. The growth of this segment is majorly attributed to the developments in hyperspectral cameras coupled with accuracy of image data & analysis. The global hyperspectral imaging systems market is studied for North America, Europe, Asia-Pacific, and RoW that includes the Middle East & Africa and the remaining countries. North America accounted for the largest market for hyperspectral imaging systems in 2017, dominated by the U.S. The growth in this region is supported by robust infrastructure and high affordability of the consumers.

The global hyperspectral imaging systems market is driven by factors such as surging applications of hyperspectral imaging techniques across the various industry verticals, increasing awareness of hyperspectral imaging systems etc. However, the initial associated cost of the hyperspectral imaging systems is the major hurdle of the industry.

The leading players of the global hyperspectral imaging systems market are Applied Spectral Imaging, Bayspec Inc., Chemimage Corporation, Corning Incorporated, FluxData,Inc., Galileo Group, Inc., Headwall Photonics Inc., IMEC, ITRES, Merrick & Company, MicaSense, Inc., Middleton research, Norsk Elektro Optikk As, Resonon, Inc., SpecTIR, Specim, Spectral Imaging Ltd., Surface Optics Corp. and Telops Inc. among others.

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