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Hyperspectral Imaging Market, (By Technology Type: spatial scanning, spectral scanning. By System Type: Benchtop camera, Outdoor camera, Airborne camera, Hyperspectral software, Others. By Application: Military surveillance, Mineralogy, Food Processing, Agriculture, Healthcare, Research, Others. By Form Factor . By Region - North America, Europe, Asia Pacific, and LAMEA) | Global Industry Size, Share, Analysis, and Forecast 2022-2032

Published Date : May 2022 | Report Id : ESCPH 120 | Format : PDF,PPT | Slides : 175
Report Type : Syndicate Report

The global hyperspectral imaging market was valued at $171.2 million in 2021 and it is expected to reach $732.2 million at a CAGR of 13.20% between 2022 and 2032. Hyperspectral imaging also known as HIS, which is a technique to analyze a wide spectrum of light instead of just assigning primary colors such as blue, red, and green to each pixel. The major purpose of hyper-spectrum imaging is to find objects and identify materials or detecting processes.     

By region, North America holds the largest share in the global hyperspectral imaging market.   

Hyper spectrum imaging finds a wide range of applications in remote sensing and recognizes the components of matter. However, a hyper-spectrum imaging system is widely used in various fields such as astronomy, agriculture, molecular biology, biomedical imaging, geology, physics, cultural heritage, food processing, mineralogy, and environment and surveillance. Hence, the growing demand for hyper-spectrum imaging in several fields and its increasing use of it in various applications are anticipated to drive the growth of the market during the forecast period. Moreover, several major factors such as increasing funding and investments in these fields, rising industrial applications of hyperspectral imaging, and the untapped market opportunities in developing countries are expected to provide heavy growth opportunities in upcoming years. Furthermore, in the medical sector, a hyperspectral imaging system is used to provide various procedures in the pharmaceutical industry. Due to the rising usage to perform quality control tests that help detect foreign materials and chemicals. The system can further help in the identification of targeted tumor tissue and blood vessel, lymph nodes, and a bundle of nerves by covering the targeted area and providing the image. Hence, these images contain information regarding several light wavelength bands. 

Hyperspectral Imaging Market

Source: SAI Research

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Based on products, the global hyperspectral imaging market is segmented into hyperspectral cameras and other accessories. The camera segment is expected to boost the market due to the increasing advancements in sensor development including high speed and low-cost service, and advanced manufacturing technologies. Along with these, the quality, economic efficiencies, and reliability of technical products are expected to rise in upcoming years. Therefore, cameras are anticipated to hold the largest share of the hyperspectral imaging market. Furthermore, the adoption of advanced cameras used in defense and military-industrial applications is boosting the hyperspectral imaging camera segment. Based on applications, the hyperspectral imaging market is categorized into defense and military, remote sensing, healthcare diagnostics, machine vision, and optical sorting, among others. The defense and military segment accounts for the largest share of the global hyperspectral imaging market. Due to the advancements in hyperspectral imaging data management and component fabrication techniques the hyperspectral imaging market is expected to grow in the upcoming years. Besides this, the healthcare sector is also anticipated to be the fastest-growing segment due to the increasing usage of the hyperspectral imaging system, which provides diagnostics information related to tissue morphology, composition, and physiology. Additionally, other rising factors such as the fluorescence, scattering, and absorption of tissue changes are anticipated to drive the healthcare segment in the upcoming years. 

Based on regions, the global hyperspectral imaging market is segmented into North America, Europe, Asia-Pacific, Latin America, Africa, and Middle East Country. Among these, the North American region holds the maximum market share across the globe and this region is also estimated to hold its dominant position in upcoming years due to good healthcare infrastructure, high healthcare spending, and growing adoption of advanced technologies. In the U.S market, several major players are focusing on investing more in R&D activities for the benefit of the medical sector. Moreover, the Patient Protection and Affordable Care Act are further estimated to accelerate the growth of the healthcare segment in the North American region. Therefore, these primary factors are expected to fuel the hyperspectral imaging market during the forecast period from 202 to 2032. Moreover, the Asia-Pacific market is estimated to grow at the highest growth rate during the upcoming years due to the technological advancements in the development of cost-effective hyperspectral imaging systems, which are widely used in several commercial applications in price-sensitive Asia-Pacific region. Hence, these major factors are driving the growth of the hyperspectral imaging market in several developing countries such as India, Japan, China, South Korea, and Singapore. Among these countries, China is considered a huge market for hyperspectral imaging cameras.

In North America, maximum major players are situated in countries such as the U.S, Canada, and Mexico. Therefore, the region is gaining market growth over the last few years. However, Finland-based Company called Specimen Limited has launched a new AFX10, which is a compact hyperspectral imaging camera used for airborne. This new launch is very easy to use and it can be also used to check the quality of water, evaluate the fertilizing usage in agriculture can identify the species of vegetables. It can also study the wildlife population. A U.S-based Company named Headwall photonics Inc launched a new facility for the advanced imaging sensor products, which would help them achieve growth in three major areas such as remote sensing, machine vision, biotechnology, and medical. India-based Company Pixxel has launched a hyperspectral imaging satellite on SpaceX, which would provide unprecedented views of the Earth, and it could help spot fugitive emissions and other risks regarding the climate. Hence, these new product launches are expected to propel the growth of the global hyperspectral market during the upcoming years from 2022 to 2032.                                                         

According to the study, key players such as Applied Spectral Imaging (U.S), Brandywine Photonics LLC (U.S), BaySpec Inc (U.S), Brimrose Corporation (U.S), Clyde HIS (U.K), Condi Food B.V (Netherlands), ChemImage Corporation (U.S), Cytovia Inc (U.S), Corning Inc (U.S), Cubert HyperSpectral (Germany), Diaspective Vision GmbH (Germany), EVK DI Kerschhaggl GmbH (Austria), Gamaya (Switzerland), Headwall Photonics Inc (U.S), Horiba (Japan), HySpex (Norway), HyVista (Australia), IMEC (U.S), OutSight (France), Orbital Sidekick (U.S), Photon ETC (Canada), Pixxel (India), Specim (Finland), Resonon Inc (U.S), Telops Inc (Canada), among others are leading the global hyperspectral imaging  market.

Scope of the Report:

Report Coverage

Details

Market Size in 2021 US$ 171.2 million
Market Volume Projection by 2032 US$ 732.2 million
Forecast Period 2022 to 2032 CAGR 13.20%
Base Year: 2021
     Historical Data  2019, 2020 and 2021
     Forecast Period 2022 to 2032
     Segments covered

By Technology Type:  spatial scanning, spectral scanning.

By System Type: Benchtop camera, Outdoor camera, Airborne camera, Hyperspectral software, Others

By Application Type: Military surveillance, Mineralogy, Food Processing, Agriculture, Healthcare, Research, Others

By Form Factor Type: Portable and benchtop. The portable equipment segment is further segmented into handheld and others. The benchtop equipment segment is further segmented into rack mounted and others.

     Geographies covered

North America (the U.S., Canada and Mexico); Europe (U.K., Germany, France, Italy and rest of Europe); Asia-Pacific (India, China, Japan, South Korea and rest of Asia-Pacific); and rest of the world (RoW) (the Middle East, Africa and Latin America, which includes central and South America).

     Companies covered Applied Spectral Imaging (U.S), Brandywine Photonics LLC (U.S), BaySpec Inc (U.S), Brimrose Corporation (U.S), Clyde HIS (U.K), Condi Food B.V (Netherlands), ChemImage Corporation (U.S), Cytovia Inc (U.S), Corning Inc (U.S), Cubert HyperSpectral (Germany), Diaspective Vision GmbH (Germany), EVK DI Kerschhaggl GmbH (Austria), Gamaya (Switzerland), Headwall Photonics Inc (U.S), Horiba (Japan), HySpex (Norway), HyVista (Australia), IMEC (U.S), OutSight (France), Orbital Sidekick (U.S), Photon ETC (Canada), Pixxel (India), Specim (Finland), Resonon Inc (U.S), Telops Inc (Canada) and others.

The Global Hyperspectral Imaging Market Has Been Segmented Into:

The Global Hyperspectral Imaging Market – By Technology Type:  

  •  spatial scanning
  • spectral scanning.

The Global Hyperspectral Imaging Market – By System Type: 

  • Benchtop camera
  • Outdoor camera
  • Airborne camera
  • Hyperspectral software
  • Others

The Global Hyperspectral Imaging Market – By Application Type: 

  • Military surveillance
  • Mineralogy
  • Food Processing
  • Agriculture
  • Healthcare
  • Research
  • Others

The Global Hyperspectral Imaging Market – By Form Factor Type: 

  • Portable and benchtop. The portable equipment segment is further segmented into handheld and others. The benchtop equipment segment is further segmented into rack mounted and others.

The Global Hyperspectral Imaging Market – by Regions:

North America 

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • Italy
  • U.K.
  • Russia
  • Rest of Europe Countries

Asia-Pacific

  • India
  • China
  • Japan
  • South Korea
  • North Korea
  • Rest of Asian Countries

LAMEA

  • Brazil
  • Saudi Arabia
  • Rest of LAMEA
Note: This table of contents is a content of a published report. As per client requirement, cross-sectional analysis across all industries or specific geography or ‘country-based’ analysis can be provided as a part of paid customization. Please place your queries on sales@sheeranalyticsandinsights.com or query@sheeranalyticsandinsights.com

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