According to the new market research report Hyperspectral Imaging Market is projected to reach USD 30.0 billion by 2025 from USD 12.4 billion in 2020, at a CAGR of 19.3%.
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North America was the largest regional market for market in 2019
The
global Hyperspectral Imaging Market has been divided into four major
regions, namely, North America, Europe, Asia Pacific, and the Rest of
the World (RoW). North America is expected to account for the largest
share of the global market in 2019. Factors such as growth in research
funding, technological advancements, and increasing awareness of the
benefits of hyperspectral imaging in commercial industries across the
region are driving the market for hyperspectral imaging systems in North
America.
The Snapshot technology segment is expected to grow at the highest CAGR during the forecast period
Based
on technology, the Hyperspectral Imaging Systems Market is segmented
into pushbroom (line-scanning), snapshot (single shot), and other
technologies [whiskbroom (point-scanning), tunable filters (wavelength
scan), and imaging FTIR (time scanning)]. The pushbroom segment is
estimated to account for the largest share of the market in 2019, while
the snapshot segment is projected to register the highest CAGR during
the forecast period. This can be attributed to the advantages offered by
snapshot hyperspectral imaging systems, which make this technology most
suitable for real-time analysis.
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In 2019, the cameras segment accounted for the largest share of the market
On
the basis of product, the Hyperspectral Imaging Market is segmented
into cameras and accessories. Cameras are expected to command the larger
share of the market, by product, in 2019. Technological advancements,
the development of affordable hyperspectral imaging cameras, and the
increasing adoption of hyperspectral technology for defense and
industrial applications are driving the growth of the hyperspectral
cameras segment.
The prominent players operating in the Hyperspectral Imaging Market
include Headwall Photonics, Inc. (US), Applied Spectral Imaging, Inc.
(US), Corning Incorporated (US), Surface Optics Corporation (US), Norsk
Elektro Optikk AS (Norway), Resonon, Inc. (US), Specim, Spectral Imaging
Ltd. (Finland), Telops, Inc. (Canada), BaySpec, Inc. (US), Cubert GmbH
(Germany), inno-spec GmbH (Germany), XIMEA GmbH (Germany), imec
(Belgium), and ChemImage Corporation (US).
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