Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Hyperspectral Imaging Systems Market by Product (Camera, Accessories), Technology (Snapshot, Pushbroom), Application (Military, Remote Sensing (Agriculture, Environmental), Machine Vision, Life Sciences & Diagnostics) & Region-Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global hyperspectral imaging systems market is projected to reach USD 34.3 billion by 2028 from USD 16.8 billion in 2023, at a CAGR of 15.4% during the forecast period.
The growth of this market is majorly driven by the growing AI-based hyperspectral sensing techniques for food, agriculture, and medical applications. However, However, issues related to data storage restrain the growth of the hyperspectral imaging systems market.
The cameras segment accounted for the highest market share in the hyperspectral imaging systems market, by product, during the forecast period
Based on the product segment, the hyperspectral imaging systems system market is categorized into cameras and accessories. The cameras segment is expected to witness a high market share during the forecast period. This can be attributed to the growing advancements in technology to make it a low-cost camera.
Snapshot technology accounted for the highest CAGR during the forecast period
Based on technology, the hyperspectral imaging systems market is segmented into pushbroom, snapshot, and other technologies. In 2022, the pushbroom dominated the market and snapshot technology to observe the highest growth rate. Factors supporting the growth of snapshot technology include an increasing number of product launches.
The North America segment accounted for the highest market share in the hyperspectral imaging systems market, by region, during the forecast period
Based on the region, the global hyperspectral imaging systems market is categorized into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to witness a high market share during the forecast period. The presence of technologically advanced hyperspectral products and the increasing adoption of hyperspectral in mining and pharmaceutical companies are supporting the growth of the hyperspectral imaging systems market.
Market Dynamics
Drivers
- Increasing Funding and Investments for Innovation in Hardware and Software Advancement
- Growing Industrial Applications of Hyperspectral Imaging
- Increasing Need for Remote Sensing Data in Defense/Homeland Security Operations and Commercial Applications
Restraints
- Data Storage Challenges and High Costs in Hyperspectral Imaging Systems
Opportunities
- AI-based Hyperspectral Sensing Techniques for Food, Agriculture, and Medical Applications
- Untapped Market Opportunities in Emerging Countries
Challenges
- Lack of Cost-Effective Super-Resolution in Spatial Domain
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 199 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $16.8 Billion |
| Forecasted Market Value (USD) by 2028 | $34.3 Billion |
| Compound Annual Growth Rate | 15.4% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Hyperspectral Imaging Systems Market, by Product
6.1 Introduction
6.2 Cameras
6.2.1 Increasing Applications in Defense and Industrial Applications to Drive Market
6.3 Accessories
6.3.1 Increased Use of Hyperspectral Imaging Systems to Support Adoption of Associated Accessories
7 Hyperspectral Imaging Systems Market, by Technology
7.1 Introduction
7.2 Pushbroom
7.2.1 Pushbroom to Dominate Market During Forecast Period
7.3 Snapshot
7.3.1 Snapshot Segment to Witness Highest Growth Rate During Study Period
7.4 Other Technologies
8 Hyperspectral Imaging Systems Market, by Application
8.1 Introduction
8.2 Military Surveillance
8.2.1 Lesser Costs and Greater Operational Uptime for Expensive Airborne and Maritime Assets to Drive Market
8.3 Remote Sensing
8.3.1 Agriculture
8.3.1.1 Agriculture to be Largest and Fastest-Growing Segment in Remote Sensing Applications Market During Study Period
8.3.2 Mining/Mineral Mapping
8.3.2.1 Hyperspectral Imaging Systems to Determine Spectrally Unique Areas at Surface and Produce Comprehensive Mineral Maps
8.3.3 Environmental Monitoring
8.3.3.1 Wide Applications in Environmental Testing and Analysis of Chemical Nature of Liquids, Solids, and Gases to Propel Market
8.3.4 Other Remote Sensing Applications
8.4 Life Sciences & Medical Diagnostics
8.4.1 Life Sciences & Medical Diagnostics Segment to Register Highest Growth Rate During Forecast Period
8.5 Machine Vision & Optical Sorting
8.5.1 Growing Focus on Automation for Productivity Enhancement in Various Industries to Augment Segment
8.6 Other Applications
9 Hyperspectral Imaging Systems Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- Applied Spectral Imaging
- Bayspec, Inc.
- Brandywine Photonics
- Chemimage Corporation
- Clyde Hsi
- Corning Incorporated
- Cubert GmbH
- Cytoviva, Inc.
- Diaspective Vision
- Galileo Group, Inc.
- Gamaya
- Glana Sensors Ab
- Headwall Photonics
- Hinalea Imaging
- Horiba, Ltd.
- Hypermed Imaging, Inc.
- Imec
- Inno-Spec GmbH
- Jb Hyperspectral Devices GmbH
- Malvern Panalytical Ltd.
- Norsk Elektro Optikk
- Orbital Sidekick
- Ornet Sdn Bhd
- Photon Etc.
- Resonon Inc.
- Specim, Spectral Imaging Ltd.
- Surface Optics Corporation
- Telops Inc.
- Thorlabs, Inc.
- Ximea GmbH
For more information about this report visit https://www.researchandmarkets.com/r/i365bp
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