Hyperspectral Imaging System Market to 2023 - Dominated by (Military, Remote Sensing and Environmental Monitoring) Applications

Global hyperspectral imaging systems market is projected to reach USD 21.33 billion by 2023 from USD 9.51 billion in 2018, at a CAGR of 17.5%. Factors driving growth of market are growing industrial applications of hyperspectral imaging & increasing funding & investments.

Advancements in hyperspectral imaging data management and component fabrication techniques and better accuracy & consistency of hyperspectral imaging data (as compared to conventional imaging techniques) are major factors driving adoption of hyperspectral imaging systems in military surveillance applications.

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North America is expected to account for the largest share of the market followed by Europe. However, Asia Pacific is expected 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.

List of companies profiled in the report
• Headwall Photonics (US)
• Corning Incorporated (US)
• SPECIM(Finland)
• Resonon (US)
• Telops(Canada)
• Norsk Elektro Optikk (Norway)
• Applied Spectral Imaging (US)
• Bayspec (US)
• Surface Optics Corporation (US)
• Chemimage Corporation (US)
• Cubert GmbH (Germany)

Hyperspectral imaging systems market is segmented into cameras and accessories. Cameras segment is expected to dominate market with largest share and is also expected to grow at highest CAGR during forecast period. This is attributed to factors like recent advances in sensor development &computing power & availability of low-cost cameras with widening industrial applications.

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Global hyperspectral imaging systems market is segmented into North America (US and Canada), Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe), Asia Pacific (Japan, China, India, & Rest of Asia Pacific), & Rest of the World. While, North America is expected to dominate global hyperspectral imaging systems market in 2018, Asia Pacific is expected to register highest CAGR during the forecast period.

Manufacturers and vendors of hyperspectral imaging systems
• Original equipment manufacturers (OEMs)
• Research organizations & consulting firms
• Technology standards organizations
• Alliances & associations related to hyperspectral imaging technology
• Venture capitalists & investors

Information and Discount on this study “Hyperspectral Imaging System Market by Product (Camera, Accessories) & Application (Military, Remote Sensing, Environmental Monitoring, Agriculture, Mineral Map, Machine Vision/Optical Sorting, Life Sciences & Medical Diagnosis) - Global Forecast to 2023” research at https://www.reportsnreports.com/contacts/discount.aspx?name=404419 .

Hyperspectral imaging is an innovative technology that is used to acquire and analyze images of an object. With continuous advancements in hardware and software for image processing and analysis, hyperspectral imaging is increasingly being used in a number of research projects across the globe.

The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 – 30%; Tier 2 -50%; Tier 3 - 20%.
• By Designation: C-level- 27%; D-level- 32%; others- 41%.
• By Region: North America-33%; Europe-28%;APAC-23%; Rest of the World- 16%

Hyperspectral imaging offers several advantages, such as higher specificity and granularity, higher image acquisition speed as compared to other spectral imagers, and non-invasive imaging.

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