Hyperspectral Imaging System Market By Product (Cameras and Accessories), Technology (Pushbroom, Whiskbroom, and Snapshot), Application (Military Surveillance, Remote Sensing, Machine Vision & Optical Sorting, and Life Sciences & Medical Diagnostics) - Global Analysis & Forecast 2020-2030
Report ID : 343 | Published Date : Apr 2020 | Pages : 160 | Region : Global | Report Code : MD-107
Hyperspectral Imaging System Market Introduction and Overview
A hyperspectral imaging system collects images of a single object in a series of spectral windows and processes the information through an electromagnetic spectral. It consists of more than 20 bands of spectral data for each pixel. These systems can be used to perform color readings for small areas with relatively low errors and can also be used as an alternative to standard colorimetric methods. They are used across a wide range of applications, including molecular biology for genomics & proteomics research, astronomy, agriculture, biomedical imaging, geosciences, surveillance, and quality assessment, among others.
The global hyperspectral imaging system market is driven by the advantages that it provides, such as higher picture obtaining speed and higher accuracy & granularity, when contrasted with other imaging systems. Moreover, increasing applications in different industrial verticals, rising government funding & investments, and technological advancements have been pivotal in contributing to the extensive growth of the global hyperspectral imaging systems market. However, the high costs of these imaging systems are likely to restrain market growth to a certain extent.
The global hyperspectral imaging system market can be segmented by product, technology, and region.
Hyperspectral Imaging System Market By Product
Based on product, the hyperspectral imaging system market can be segmented into cameras and accessories. The cameras segment accounted for the largest share in 2019 and is growing at the highest rate in the global hyperspectral imaging system market. Increasing applications, as well as technological advancements in the cameras used in hyperspectral imaging systems, are anticipated to fuel the cameras segment during the forecast period.
Hyperspectral Imaging System Market By Technology
Based on technology, the market can be segmented into push broom, whiskbroom, snapshot, and others. In terms of market share, the push broom segment is estimated to account for the largest market share owing to high spatial resolution when compared with other technologies as well as shorter image capturing time.
Hyperspectral Imaging System Market By Application
Based on the application, the market can be segmented into military surveillance, remote sensing, machine vision & optical sorting, life sciences & medical diagnostics, and others. The life sciences & medical diagnostics segment is anticipated to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to increasing applications and the use of hyperspectral imaging in medical diagnosis and image-guided surgery owing to the advantages that these systems provide when compared with other imaging systems.
Hyperspectral Imaging System Market By Region
The global hyperspectral imaging system market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the hyperspectral imaging system market followed by Europe and Asia Pacific. North America will continue its dominance during the forecast period owing to factors such as the growing adoption of hyperspectral imaging in various fields including military surveillance, medical diagnostic, agricultural sector, environmental monitoring, and mining, among others. Moreover, technological advancements, rising government investments, and growing inclination toward the adoption of novel technologies in this region are anticipated to boost market growth during the forecast period.
Hyperspectral Imaging System Market Prominent Players
Some of the prominent players in the global hyperspectral imaging system market include Headwall Photonics, Inc., Specim, Spectral Imaging Ltd., Corning Incorporated, Norsk Elektro Optikk AS (NEO), Resonon Inc., BaySpec, Inc., Telops, Cubert GmbH., Galileo Group, Inc., and Itres Research, among others.