The Global Hyperspectral Imaging System Market Size accounted for USD 13.4 Billion in 2021 and is projected to occupy a market size of USD 55.8 Billion by 2030 growing at a CAGR of 17.3% from 2022 to 2030.

Hyperspectral imaging (HSI) is a system that analyzes a wide range of light instead of just assigning primary colors such as red, blue, green to each pixel. The light striking each pixel is broken down into many special spectral bands in order to offer more information on what is imaged. Mainly this algorithms and the image processing methodologies associated with HSI is a major product of military research, and were primarily used to identify targets and other objects against background clutter. In addition, hyperspectral imaging systems are a powerful tool for remote sensing or non-contact of molecular chemical information of material quality or composition. Fields of application for this technology include pharmaceuticals, material sciences, pathology, ecological, polymer sciences, forensics, bio-medicine, geological studies, pathology and agriculture.

Hyperspectral Imaging System Market Report Statistics

• Global hyperspectral imaging system market revenue is estimated to reach USD 55.8 Billion by 2030 with a CAGR of 17.3% from 2022 to 2030
• North America hyperspectral imaging system market share generated over 37% shares in 2021
• According to recent insights, the US congress requested over 715 billion for defense sector in fiscal 2022 budget
• Asia-Pacific hyperspectral imaging system market growth will record substantial CAGR of over 18% from 2022 to 2030
• Based on products, cameras captured around 60% of the overall market share in 2021
• Among applications, military sector generated shares of over 26% in 2021
• Growing demand for remote sensing in defense sector is a popular hyperspectral imaging system market trend that is fueling the industry demand

Global Hyperspectral Imaging System Market Dynamics

Market Drivers

• Rising industrial application of hyperspectral imaging
• Surging technological advancements in the industry
• Growing need for remote sensing data in defense and homeland operations

Market Restraints

• High cost and complexity
• Data storage challenges

Market Opportunities

• Mounting use of unmanned aerial vehicles
• Rising investments and funding from private and public organizations

Hyperspectral Imaging System Market Report Coverage

Market	Hyperspectral Imaging System Market
Hyperspectral Imaging System Market Size 2021	USD 13.4 Billion
Hyperspectral Imaging System Market Forecast 2030	USD 55.8 Billion
Hyperspectral Imaging System Market CAGR During 2022 - 2030	17.3%
Hyperspectral Imaging System Market Analysis Period	2018 - 2030
Hyperspectral Imaging System Market Base Year	2021
Hyperspectral Imaging System Market Forecast Data	2022 - 2030
Segments Covered	By Product, By Application, And By Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled	Headwall Photonics Inc., Imec, Resonon, Corning Incorporated, Norsk Elektro Optikk AS, Surface Optics Corporation, Bayspec Inc., Chemimage Corporation, Spectral Imaging Ltd., Applied Spectral Imaging, and Telops Inc.
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Hyperspectral Imaging System Market Growth Factors

Innovation in hyperspectral imaging system coupled with advancement in technology, designs, and features is driving the demand from various fields, such as remote sending, mining, military, vision, meteorology, healthcare, and optical. The various advantages of hyperspectral imaging system such as the non-requirement of prior knowledge of the spectrum and sample are estimated to drive investments from market player, which is likely to drive the demand during the forecast period. Furthermore, exiting market players are switching to advanced technologies to gain competitive advantage. Growth opportunities in emerging countries, rise in R&D, and the aim to sustain international product quality standards is expected to drive market expansion. Moreover, advancements in sensor technologies have improved the image quality, economic efficiency, and reliability of the technical products and thus, are likely to fuel the market growth.

Hyperspectral Imaging System Market Segmentation

The global hyperspectral imaging system market is segmented based on product, application, and geography.

Hyperspectral Imaging System Market By Product

• Cameras
• Accessories

According to our hyperspectral imaging system industry analysis, cameras accounted for majority of the market share in 2021 and are likely to do so in the coming years. The growing technological advancement and easy availability of cameras is attributed to the significant market share. High-speed, low-cost circuits, advanced manufacturing processes, and a novel signal processing approach are among the most significant recent developments. The quality, economic efficiency, and dependability of technical products are expected to improve as a result of these developments.

Hyperspectral Imaging System Market By Application

• Military
• Remote Sensing
• Medical Diagnostics
• Machine Vision & Optical Sorting
• Others

According to the hyperspectral imaging system market forecast, the military application gathered a considerable amount of share from 2022 to 2030. The segment's rapid growth can be attributed to advancements in data management and component fabrication techniques. Hyperspectral imaging has numerous military applications, including tracking and identification of personnel and other objects. Furthermore, remote sensing and medical diagnostics sub-segments have gained significant traction in recent years.

Hyperspectral Imaging System Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Hyperspectral Imaging System Market Regional Analysis

The hyperspectral imaging system market analysis is provided for major regional markets including North America, Europe, China, Southeast Asia, Japan and India followed by major countries. For each region, the market size and volume for different segments has been covered under the scope of report. North America accounted for a large market share, and is likely to lead the market in the forecast period. The market growth in this region can be largely attributed to the factors such as high adoption of hyperpsectral imaging systems in research, increase in research funding, growing awareness on the benefits of hyperspectral imaging in commercial industries, and technological advancements

Hyperspectral Imaging System Market Players

Some of the global hyperspectral imaging system companies included in the report are Headwall Photonics Inc., Imec, Resonon, Corning Incorporated, Norsk Elektro Optikk AS, Surface Optics Corporation, Bayspec Inc., Chemimage Corporation, Spectral Imaging Ltd., Applied Spectral Imaging, and Telops Inc.

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