The global hyperspectral imaging systems market is anticipated to reach USD 17.64 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 10.6% during the forecast period. New product launches coupled with advancements in technology, designs, and features is driving the demand from various fields, such as military, remote sensing, healthcare, mining, vision and optical, and meteorology.
There
are certain advantages of hyperspectral imaging, such as the non-requirement of
prior knowledge of the spectrum and sample. In addition, it provides extensive
information for analyzing and processing the image. These advantages are
anticipated to drive investments from market players, which is anticipated to
drive the demand during the forecast period. Hyperspectral imaging is being
used extensively in the healthcare sector, mainly for ophthalmology, gastrointestinal
procedures, tissue diagnosis, fluorescence microscopy, and vascular system
imaging. The increasing application can be attributed mainly to its high
clarity and accuracy of this imaging method.
Rapid
industrialization along with demand for high bandwidth communication is fueling
growth of hyperspectral imaging systems market in the forthcoming years. In
addition, existing market players are switching to advanced technologies to
gain competitive advantage. Rise in R&D and growth opportunities in emerging
countries and the aim to maintain international product quality standards is
anticipated to drive market expansion.
Affordable
electronic circuits and high-speed technologies have cascaded into introduction
of advanced sensor technologies. Furthermore, advancements in sensor
technologies have improved the image quality, economic efficiency, and
reliability of the technical products and thus, are anticipated to fuel the
market growth.
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Hyperspectral
Imaging Systems Market Report Highlights
- Hyperspectral camera is
estimated to hold the largest market share in near future due to the
recent advancements in sensor development which have led to growth of the
camera segment
- Military segment accounts
for the largest market share due to advancement in data management of
hyperspectral imaging along with component fabrication techniques, better
accuracy and consistency compared to other conventional imaging techniques
- Asia Pacific has been
estimated to be the fastest growing region due to the presence of large
pool of patients, increasing healthcare awareness, rising government
funding for R&D, and upcoming research projects
- Major players operating in
the hyperspectral imaging systems market include Headwall Photonics Inc.;
Resonon, Telops Inc.; Corning Incorporated; Norsk Elektro Optikk AS;
Surface Optics Corporation; Bayspec Inc.; Chemimage Corporation; and
Applied Spectral imaging.
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Hyperspectral
Imaging Systems Market Segmentation
Grand View Research has segmented
the global hyperspectral imaging systems market on the basis of product,
application, and region:
Hyperspectral
Imaging Systems Product Outlook (Revenue, USD Million, 2014 - 2025)
- Cameras
- Accessories
Hyperspectral
Imaging Systems Application Outlook (Revenue, USD Million, 2014 - 2025)
- Military
- Remote Sensing
- Medical Diagnostics
- Machine Vision & Optical
Sorting
- Others
Hyperspectral
Imaging Systems Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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