Hyperspectral Imaging Market Report 2022: Wide-Spread Applications of Hyperspectral Imaging Technology & Increasing Investments by the Government for Research and Development Activities Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Hyperspectral Imaging Market - A Global and Regional Analysis: Analysis and Forecast, 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global hyperspectral imaging market was estimated to be at $791.2 million in 2021, which is expected to grow with a CAGR of 13.17% and reach $1,640.3 million by 2027. The growth in the global hyperspectral imaging market is expected to be driven by the widespread applications of hyperspectral imaging technology, the increasing demand and investments from military and defense sectors, the increased emphasis of government on research and development activities, increasing prevalence of various chronic disorders and growing geriatric population, the growing awareness regarding early diagnosis of diseases, and the increasing global food safety concerns.

Market Lifecycle Stage

The hyperspectral market is still in the nascent phase. Increased research and development activities are underway to develop more hyperspectral imaging products.

The increasing technological advancements in hospitals, diagnostic centers, military and defense sectors, agriculture practices, and research centers are some of the major opportunities in the global hyperspectral imaging market. Moreover, the increasing demand in developing regions is also an opportunity for the growth of the market.

Market Segments

by Application

• Healthcare (Medical Imaging/Diagnostics, Pharmaceuticals, Image-Guided Surgery, Others)
• Defense
• Environmental Monitoring and Agriculture
• Mining and Material
• Food Inspection
• Others (Art Conservation, Machine Vision, and Optical Sorting)

The global hyperspectral imaging market in the application segment is expected to be dominated by the mining and material segment.

by Technology

• Push-broom
• Snap-shot
• Others (Whiskbroom (Point Scanning), Tunable Filters (Wavelength Scanning), and Imaging FTIR (Time Scanning))

Global hyperspectral imaging is dominated by the push-broom technology segment.

by Spectral Range

• Visible Hyperspectral Imaging
• Visible Near-Infrared (VNIR) Hyperspectral Imaging
• Short-Wave Infrared (SWIR) Hyperspectral Imaging
• Mid-Wave Infrared and Long-Wave Infrared Hyperspectral Imaging
• Others

Global hyperspectral imaging is dominated by the visible near-infrared (VNIR) hyperspectral imaging segment.

by Product

• Hyperspectral Imaging Cameras
• Other Accessories

by Region

• North America - U.S., Canada
• Europe - Germany, France, U.K., Italy, Spain, Rest-of-Europe
• Asia-Pacific - Japan, China, India, Australia, South Korea, Rest-of-Asia-Pacific
• Latin America - Brazil, Mexico, Rest-of-Latin America
• Middle East and Africa - U.A.E., South Africa, Rest-of-Middle East and Africa

North America held the largest share in the global hyperspectral imaging market in 2021, and the trend is anticipated to continue during the forecast period 2022-2027.

Demand - Drivers and Limitations

Following are the drivers for the hyperspectral imaging market:

• Wide-Spread Applications of Hyperspectral Imaging Technology
• Increasing Demand and Investments from the Military and Defense Sectors
• Increasing Investments by the Government for Research and Development Activities
• Increasing Prevalence of Chronic Disorders and Geriatric Population Boosting the Growth of Medical Hyperspectral Imaging
• Growing Awareness Regarding Early Diagnosis of Diseases
• Increased Global Food Safety Concerns

The market is expected to face some limitations too due to the following challenges:

• High Cost of The Hyperspectral Devices
• Lack of Infrastructure and Skilled Professionals to Support Hyperspectral Devices
• High Volume of Produced Data

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration.

Some of the prominent names established in this market are:

Company Type 1: Established Companies

• BaySpec, Inc.
• Corning Incorporated
• CytoViva, Inc.
• Headwall Photonics, Inc.
• HORIBA Ltd.
• HyperMed Imaging, Inc.
• IMEC International
• Inno-spec GmbH
• Konica Minolta, Inc.
• Norsk Elektro Optikk A/S
• Photon Etc.
• Resonon, Inc.
• Swift Medical Inc.
• Teledyne FLIR LLC

Company Type 2: Emerging Companies

• Clyde Hyperspectral Imaging and Technology Ltd.
• Cubert GmbH
• Diaspective Vision GmbH
• Emberion
• GAMAYA
• HAIP Solutions GmbH

Key Topics Covered:

1 Markets

2 Global Hyperspectral Imaging Market (by Application)

3 Global Hyperspectral Imaging Market (by Technology), 2020-2027

4 Global Hyperspectral Imaging Market (by Spectral Range)

5 Global Hyperspectral Imaging (by Product)

6 Region

7 Market - Competitive Benchmarking & Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/sgd3p2