According to the new market research report hyperspectral imaging systems market is projected to reach USD 30.0 billion by 2025 from USD 12.4 billion in 2020, at a CAGR of 19.3%.
The
increasing funding and investments, growing industrial applications of
hyperspectral imaging are the major factors driving the growth of the
hyperspectral imaging systems market.
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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 hyperspectral imaging
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 systems market include Headwall Photonics, Inc.
(US), Applied Spectral Imaging, Inc. (US), Corning Incorporated (US),
Specim, Spectral Imaging Ltd. (Finland), Telops, Inc. (Canada), Surface
Optics Corporation (US), Norsk Elektro Optikk AS (Norway), Resonon, Inc.
(US), BaySpec, Inc. (US), Cubert GmbH (Germany), inno-spec GmbH
(Germany), XIMEA GmbH (Germany), imec (Belgium), and ChemImage
Corporation (US).
Recent Developments
> In 2019,
Headwall Photonics launched its advanced sensor payloads (consisting of
hyperspectral sensors and LIDAR for unmanned aerial vehicle platforms)
> In 2018, SPECIM opened a new facility in Espoo, Finland
>
In 2018, Telops signed a distribution agreement with Infrared Imaging
LLC. This agreement strengthened the position of Telops in the US
market.
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North America was the largest regional market for hyperspectral imaging systems in 2019.
The
hyperspectral imaging systems market is segmented into North America,
Europe, the Asia Pacific, and the Rest of the World. In 2019, North
America was the largest regional segment of the overall market, followed
by Europe. 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.
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