According to research report the global hyperspectral imaging systems market
is projected to reach USD 42.96 billion by 2027 from USD 9.51 billion
in 2018, at a CAGR of 17.5%. The growing industrial applications of
hyperspectral imaging and increasing funding & investments are the
major factors driving the growth of the global hyperspectral imaging
systems market.
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by product, the cameras segment is expected to dominate the market in 2018
The
hyperspectral imaging systems market is categorized into two product
segments, namely, cameras and accessories. The cameras segment is
expected to command the largest share of the global hyperspectral
imaging systems market in 2018. Factors such as recent advances in
sensor development & computing power and the availability of
low-cost cameras with widening industrial applications are driving the
growth of this market segment.
Based on application, the military surveillance segment is expected to account for the largest share in 2018
On
the basis of application, the hyperspectral imaging systems market is
segmented into military surveillance, remote sensing, machine vision and
optical sorting, life sciences and medical diagnostics, and other
applications. The military surveillance segment is expected to account
for the largest share of the hyperspectral imaging systems market in
2018. The advancements in hyperspectral imaging data management and
component fabrication techniques as well as the better accuracy and
consistency of hyperspectral imaging data (as compared to other
conventional imaging techniques) are the major factors driving the
adoption of hyperspectral imaging systems in military surveillance
applications.
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North America to dominate the hyperspectral imaging systems market in 2018
By
region, the global hyperspectral imaging systems market is segmented
into North America, Europe, Asia Pacific, and the Rest of the World
(RoW). In 2018, North America is expected to dominate the global
hyperspectral imaging systems market, followed by Europe. The large
share of this region can be attributed to the presence of highly
developed research infrastructure; availability of technologically
advanced imaging products; and growing adoption of hyperspectral imaging
in military surveillance, environmental monitoring, mining, machine
vision, and life sciences & diagnostics.
The global hyperspectral
imaging system market is highly competitive and fragmented. The
prominent players operating in this market include Headwall Photonics
(US), Applied Spectral Imaging (US), Corning Incorporated (US), Surface
Optics Corporation (US), Norsk Elektro Optikk (Norway), Resonon (US),
SPECIM (Finland), TELOPS (Canada), BaySpec (US), Cubert (Germany), and
ChemImage (US).