Global Hyper spectral Imaging Systems Market Report, published by Variant Market Research, forecast that the global market is expected to reach $18.9 billion by 2024; growing at a CAGR of 8.4% from 2016 to 2024.The hyper spectral imaging system (HSI) involves collection and processing of data which is collected across an electromagnetic spectrum. The hyper spectral imaging system enables obtaining spectrum for every pixel in a particular image or a sequence of images. These systems are widely used in food processing industry for monitoring and development of crops. Medical industries also pose a huge demand for hyper spectral imaging systems used in detection and treatment of numerous life threatening diseases.
Growth in industrial application, rise in demand from medical and food processing industry, and augmented demand for remote sensing and surveillance are the major factors driving the global hyper spectral imaging systems market. However, high cost of hyper spectral imaging systems would restrain the market growth in the coming years. Technological innovationand reduction in price would provide several growth opportunities for the market in the coming years.
The global hyper spectral imaging systems market has been segmented on the basis of system and end user. By system, the market is segmented into PC based, outdoor camera, airborne, and others. By end user, the market is further divided into military surveillance & homeland security, industry, medical diagnostics, food processing, mineralogy, astronomy, and others. By systems, PC based hyper spectral imaging systems accounted for the largest market share in 2016,owing to its several features such as, capability of detecting thousands of measurement points over a wide range of thermal images. The airborne segment is expected to grow at the fastest CAGR during the forecast period, owing to its increased demand in various applications such as tracking, surveillance, and agriculture. The military surveillance and homeland security segment accounted for the largest market share in the overall application segment in 2016. Geographically, the market is categorised into North America, Europe, Asia-Pacific and Rest of the World (RoW).
Based on geography, the global hyper spectral imaging systemsmarket has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers Germany, UK, Netherland, and others. Asia-Pacific covers China, India, Japan, Oceanic, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in the hyper spectral imaging sensors market are Headwall Photonics, Inc., Corning Incorporated, SPECIM, Spectral Imaging Ltd., Resonon, Telops, Applied Spectral Imaging, BaySpec Inc., Surface Optics Corporation, and ChemImage Corporation.
Scope of Hyper Spectral Imaging SystemsMarket
System Type Segments
- PC Based
- Outdoor Camera
- Military Surveillance & Homeland Security
- Medical Diagnostics
- Food Processing
- North America
- South America
- Middle East