Global Hyperspectral Imaging Systems Market is Projected to Reach USD 25.2 Billion by 2024 from USD 11.1 Billion in 2019 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 9, 2020--
The “Hyperspectral Imaging System Market by Product (Camera, Accessories), Technology (Snapshot, Push broom), Application (Military Surveillance, Remote Sensing, Machine Vision/Optical Sorting, Life Sciences & Medical Diagnosis) - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The global hyperspectral imaging (HSI) systems market is projected to reach USD 25.2 billion by 2024 from USD 11.1 billion in 2019, marking a CAGR of 17.8%.
Increasing funding and investments and growing industrial applications are expected to drive the overall growth of the hyperspectral imaging systems market.
Market growth can largely be attributed to factors such as increasing funding and investments in this field and the growing industrial applications of HSI. The untapped market opportunities in emerging markets are also expected to provide growth opportunities for players in the market. On the other hand, data storage issues and the high costs associated with HSI systems are expected to limit adoption, thereby restricting the market growth during the forecast period. Attaining super-resolution in a cost-effective manner is a major challenge faced by the industry, which may hamper the market growth to a certain extent.
The cameras segment is expected to dominate the market during the forecast period.
On the basis of product, the hyperspectral imaging systems market is segmented into cameras and accessories. Cameras are expected to command a larger share of the hyperspectral imaging systems market, by product, in 2019. Technological advancements, the development of affordable hyperspectral imaging cameras, and the increasing adoption of hyperspectral technology for defence and industrial applications are driving the growth of the hyperspectral cameras segment.
The life sciences and medical diagnostics segment will witness the highest growth in the hyperspectral imaging systems market.
Based on application, the hyperspectral imaging systems market is segmented into military surveillance, remote sensing, machine vision & optical sorting, life sciences & medical diagnostics, and other applications (includes colourimetry, meteorology, thin-film manufacturing, and night vision). The military surveillance segment is estimated to account for the largest share of the hyperspectral imaging systems market in 2019, while the life sciences & medical diagnostics segment is projected to register the highest CAGR during the forecast period. This is attributed to the increasing use of hyperspectral imaging in medical diagnosis and image-guided surgery.
North America will dominate the market during the forecast period.
Geographically, the hyperspectral imaging systems market is segmented into North America, Europe, the Asia Pacific, and Rest of the World. In 2018, North America accounted for the largest share of the hyperspectral imaging systems market. The large share of this region can be attributed to the presence of highly developed research infrastructure, availability of technologically advanced imaging products, and growing adoption of hyperspectral imaging in military surveillance, environmental monitoring, mining, machine vision, and life sciences and diagnostics.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall hyperspectral imaging systems market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to position their business better and make suitable go-to-market strategies. This report will enable stakeholders to understand the pulse of the market and provide them with information on the key market drivers, restraints, opportunities, and challenges.
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.3.2 Markets Covered
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Size Estimation and Methodology
2.2.1 Primary-Based Market Estimation
2.2.2 Growth Forecast
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Hyperspectral Imaging Systems: Market Overview
4.2 Asia Pacific: Market, By Application (2019)
4.3 Market for Remote Sensing Applications, By Type, 2019-2024
4.4 Market: Geographic Snapshot
5 Market Overview
5.1.1 Market Drivers
5.1.2 Market Restraints
5.1.3 Market Opportunities
5.1.4 Market Challenges
6 Hyperspectral Imaging Systems Market, By Product
7 Hyperspectral Imaging Systems Market, By Technology
7.4 Other Technologies
8 Hyperspectral Imaging Systems Market, By Application
8.2 Military Surveillance
8.3 Remote Sensing
8.4 Life Sciences & Medical Diagnostics
8.5 Machine Vision & Optical Sorting
8.6 Other Applications
9 Hyperspectral Imaging Systems Market, By Region
9.2 North America
9.4 Asia Pacific
9.5 Rest of the World
10 Competitive Landscape
10.2 Market Ranking
10.3 Competitive Situation and Trends
10.3.1 Partnerships, Agreements, & Collaborations (2016-2019)
10.3.2 Product Launches (2016-2019)
10.3.3 Acquisitions (2016-2019)
10.3.4 Expansions (2016-2019)
10.4 Competitive Leadership Mapping (2019)
10.4.1 Vendor Inclusion Criteria
10.4.2 Visionary Leaders
10.4.4 Dynamic Differentiators
10.4.5 Emerging Companies
11 Company Profiles
11.1 Headwall Photonics, Inc.
11.2 Specim, Spectral Imaging Ltd.
11.3 Norsk Elektro Optikk as (NEO)
11.4 Resonon, Inc.
11.5 Corning Incorporated
11.7 Applied Spectral Imaging
11.8 Bayspec, Inc.
11.9 Surface Optics Corporation
11.10 Chemimage Corporation
11.11 Cubert GmbH
11.13 Galileo Group, Inc.
11.14 Hypermed Imaging, Inc.
11.16 Camlin Group Ltd.
11.18 Other Players
For more information about this report visit https://www.researchandmarkets.com/r/k6lzgd
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PUB: 01/09/2020 10:11 AM/DISC: 01/09/2020 10:11 AM