Hyperspectral Imaging System Market Analysis
The hyperspectral imaging system market had been valued at USD 10,700 million in 2018 and is predicted to grow at a whopping 17.4% CAGR between 2019- 2025, as per the recent analysis by Market Research Future (MRFR). Hyperspectral imaging or imaging spectroscopy is the merge of spectroscopy and digital imaging that improves the sensitivity & the ability to distinguish over the detection and conventional imaging methods. This form of imaging extensively augments the ability to segregate objects that rest on spectral properties.
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Various factors are propelling the global hyperspectral imaging system market growth. As per the latest MRFR report, such factors include the emergence of innovative products, growing awareness of advanced diagnostics methods, rising cases of cancer, technological advances in the electronics sector like lightweight and compact devices, high spatial resolution, high spectral resolution, and sensor design, and increasing industrial applications of hyperspectral imaging.
On the contrary, high cost coupled with a lack of qualified professionals may limit the global hyperspectral imaging system market growth over the forecast period. Besides, the grave effect of the ongoing COVID-19 pandemic is also impacting the market growth.
Hyperspectral Imaging System Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global hyperspectral imaging system market report based on application, technology, and product.
By product, the global hyperspectral imaging system market is segmented into long-wave infrared (LWIR), mid-wave infrared (MWIR), short-wave infrared (SWIR), and visible/near-infrared (VNIR). Of these, the visible/near-infrared (VNIR) segment is predicted to lead the market over the forecast period. Increasing adoption in different industries is adding to the segment growth. This will be followed by the mid-wave infrared segment, which is predicted to grow at a fast pace for its increasing use to detect biomass burning events, industrial gas leaks, or volcanic vents.
By technology, the global hyperspectral imaging system market is segmented into snapshot, push broom, and others. Of these, the push broom segment will dominate the market over the forecast period. The rising popularity of such devices for its shorter capturing time, heat load, high spectral resolution, minimized illumination exposure, and simplified illumination needs are adding to the growth of the segment.
By applications, the global hyperspectral imaging system market is segmented into medical diagnostics, machine vision/optical, remote sensing, and surveillance. Of these, the surveillance segment will spearhead the market over the forecast period. Increasing use of advanced technologies, especially in the defense sector, is adding to the growth of the segment.
Hyperspectral Imaging System Market Regional Analysis
Based on the region, the global hyperspectral imaging system market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific, & the Middle East and Africa. Of these, the Americas will have the lions share in the market over the forecast period. Rising healthcare spending, well-established healthcare sector, and presence of prominent market players are adding to the global hyperspectral imaging system market growth in the region.
The global hyperspectral imaging system market in Europe is predicted to have the second-largest share over the forecast period. Rising support from regulatory authorities for controlling cancer, growing expenses on defense, & increasing demand for easy to use and innovative hyperspectral imaging systems are adding to the global hyperspectral imaging system market growth in the region.
The global hyperspectral imaging system market in the APAC region is predicted to grow at a fast pace over the forecast period. The growing agriculture & biotechnology sector, coupled with increasing mining activities, are adding to the global hyperspectral imaging system market growth in the region.
The global hyperspectral imaging system market in the MEA is predicted to have limited share during the forecast period for limited exposure to innovative solutions and limited healthcare infrastructure.
Hyperspectral Imaging System Market Key Players
Eminent players profiled in the global hyperspectral imaging system market report include XIMEA GmbH (Germany), IMEC (Belgium), Camlin Group Ltd. (UK), Inno-Spec (Germany), Hypermed Imaging, Inc. (the US), Galileo Group, Inc.(the US), Raytheon (US), Cubert GmbH (Germany), Chemimage Corporation (US), Surface Optics Corporation (US), Bayspec, Inc.(the US), Applied Spectral Imaging(US), Telops (Canada), Corning Incorporated(US), Resonon, Inc. (the US), Norsk Elektro Optikk as (NEO) (Norway), Spectral Imaging Ltd. (Finland), Specim, and Headwall Photonics, Inc. (the US).
Table Of Contents
1. EXECUTIVE SUMMARY
1.1. Market Attractiveness Analysis
1.1.1. Global Hyperspectral Imaging System Market, By Product
1.1.2. Global Hyperspectral Imaging System Market, By Technology
1.1.3. Global Hyperspectral Imaging System Market, By Application
1.1.4. Global Hyperspectral Imaging System Market, By Region
2. MARKET INTRODUCTION
2.1. Definition
2.2. Scope Of The Study
2.2.1. Research Objective
2.2.2. Assumptions
2.2.3. Limitations
3. RESEARCH METHODOLOGY
3.1. Overview
3.2. Data Mining
3.3. Secondary Research
3.4. Primary Research
3.4.1. Breakdown Of Primary Respondents
3.5. Forecasting Techniques
3.6. Research Methodology For Market Size Estimation
3.6.1. Bottom-Up Approach
3.6.2. Top-Down Approach
3.7. Data Triangulation
3.8. Validation
4. MARKET DYNAMICS
4.1. Overview
4.2. Drivers
4.3. Restraints
4.4. Opportunities
5. MARKET FACTOR ANALYSIS
…TOC Continued
LIST OF TABLES
TABLE 1 GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET SYNOPSIS, 2019–2025
TABLE 2 GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET ESTIMATES & FORECAST, 2019–2025 (USD MILLION)
TABLE 3 GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET, BY PRODUCT, 2019–2025 (USD MILLION)
TABLE 4 GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET, BY TECHNOLOGY, 2019–2025 (USD MILLION)
TABLE 5 GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET, BY APPLICATION, 2019–2025 (USD MILLION)
TABLE 6 GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET, BY REGION, 2019–2025 (USD MILLION)
…Continued
LIST OF FIGURES
FIGURE 1 RESEARCH PROCESS
FIGURE 2 MARKET STRUCTURE FOR THE GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET
FIGURE 3 MARKET DYNAMICS FOR THE GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET
FIGURE 4 GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET SHARE, BY PRODUCT, 2018 (%)
FIGURE 5 GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET SHARE, BY TECHNOLOGY 2018 (%)
FIGURE 6 GLOBAL HYPERSPECTRAL IMAGING SYSTEM MARKET SHARE, BY APPLICATION 2018 (%)
…Continued
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