Hyperspectral imaging is becoming an important part of optical spectroscopy-based imaging services. These include space missions, airborne remote sensing programs, industrial inspection and grading, medical applications, health diagnostics, food quality inspections, and defense and security applications.
The report "Hyperspectral Imaging - Market and Technology Forecast to 2030" offers a detailed analysis of the global hyperspectral imaging systems’ market over the next eight years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry and analyzes factors influencing demand for hyperspectral imaging systems.
Global hyperspectral imaging markets will reach US$49.4 bn through 2030 from US$20 bn in 2022. The availability of hyperspectral scanners in all types of spectral ranges has created ample industrial and commercial application opportunities for hyperspectral imaging worldwide. By 2030, the hyperspectral imaging business in the world will flourish in almost all types of end-use applications.
Non-destructive and non-invasive monitoring is making hyperspectral imaging popular among many commercial and industrial applications such as food quality testing, diagnosis of cancer, identifying counterfeits, identifying fake art, sorting recycled material, automotive dashboard cameras, and so on. The list will grow as many startups are entering into service-oriented businesses based on hyperspectral imageries.
Many hyperspectral imaging system developers and manufacturers are tech-driven and lack vision for the scalability of the business and lack skills for marketing. Headwall selling the majority of the equity to Arsenal Capital Partners or Specim selling their business to Konika Minolta are examples where lack of ability to scale has made these companies make such decisions.
Going further in the next ten years we could see more of such decisions from other hyperspectral imaging companies. Mostly due to lack of capital or lack of ability to scale the business. The business is going to be huge and will expand in many countries and applications.
In particular, it provides an in-depth analysis of the following
- Overview: Snapshot of the hyperspectral market during 202s - 2030, including highlights of the demand drivers, trends, and challenges. It also provides a snapshot of the spending concerning regions as well as by application, types, and platforms. It sheds light on the emergence of new platforms like snapshot hyperspectral video technology.
- Market Dynamics: Insights into the technological developments in the sensor materials, and camera form factors and a detailed analysis of the changing preferences of imaging service providers around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants.
- Segment Analysis: Insights into the hyperspectral imaging market from a segmental perspective and a detailed analysis of factors influencing the market for each segment.
- Regional Review: Insights into present hyperspectral imaging system strength and future demand for top countries within a region.
- Regional Analysis: Insights into the hyperspectral imaging market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis - Key Defense Market: Analysis of the key markets in each region, providing an analysis of the hyperspectral imaging system expected to be in demand in each region.
- Competitive landscape analysis: Analysis of competitive landscape of the global hyperspectral imaging industry. It provides an overview of key companies, together with insights such as product range, strategic prtnerships and SWOT analysis.
- The hyperspectral market is projected to register a CAGR of 12.0% over 2022-2030.
- In terms of platforms, the airborne remote sensing applications is anticipated to account for the largest share of revenue globally
- Industrial applications and laboratory analysis are anticipated to account for the second and third largest segments in terms of revenue over the forecast period.
- The remaining market share is held by Defense and Security
- Rising need for in-depth data from the optical images will increase demand for hyperspectral imaging system
This report has a market segmentation by Region, System Elements, Spectral range, and End-User:
- North America
- Middle East & Africa
- South America
- Aerial Remote Sensing
- Research Laboratories
- Industrial Applications
- Defense and Security
Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the hyperspectral imaging market over the next eight years
- Gain an in-depth understanding of the underlying factors driving demand for different hyperspectral cameras in the top spending countries and other potential markets across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
- Identify the major channels that are driving the global hyperspectral markets, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the hyperspectral imaging systems providers around the world.