AP NEWS
ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Hyperspectral Imaging Market Worth USD 568.86 Million By 2024

November 2, 2020 GMT
Technavio has announced its latest market research report titled Global Hyperspectral Imaging Market 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global Hyperspectral Imaging Market 2020-2024 (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--Nov 2, 2020--

The global hyperspectral imaging market size is poised to grow by USD 568.86 million during 2020-2024, progressing at a CAGR of almost 15% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

ADVERTISEMENT

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201102005158/en/

Technavio has announced its latest market research report titled Global Hyperspectral Imaging Market 2020-2024 (Graphic: Business Wire)

The rise in the number of medical diseases to be one of the primary factors that will have a positive impact on the growth of the hyperspectral imaging market during the next few years. Technological innovations such as the advancements in hyperspectral cameras, computational power, and image analysis, are increasingly being implemented in medical applications. Imaging sensors can diagnose non-invasive diseases and surgeries, and they do not emit any radiations that may harm the equipment operator or patient. The increase in the number of chronic diseases will subsequently drive the need for hyperspectral imaging, fueling market growth.

Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform

ADVERTISEMENT

Report Highlights:

  • The major hyperspectral imaging market growth came from the military and surveillance segment. Hyperspectral imaging sensors are increasingly being used for military and surveillance applications and tactical missions in unmanned air vehicles (UAVs) and unmanned ground vehicles (UGVs). These sensors are used for base protection and security as they are equipped with spectral signatures. Owing to their high productivity, they are increasingly used in intelligence, surveillance, and reconnaissance (ISR) to gain information from potential adversaries and to advance national security. Market growth in this segment will be faster than the growth of the market in the remote sensing and other applications segment.
  • APAC was the largest hyperspectral imaging market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the growing food and beverage industry are also demanding hyperspectral imaging to improve the automation and testing process. This saves time and cost in handling large quantities of food and beverage containers and will significantly drive hyperspectral imaging market growth in this region over the forecast period. China and Japan are the key markets for hyperspectral imaging in APAC. Market growth in this region will be faster than the growth of the market in other regions.
  • The global hyperspectral imaging market is fragmented. BaySpec Inc., Corning Inc., Cubert GmbH, Gooch & Housego Plc, Headwall Photonics Inc., Norsk Elektro Optikk AS, Resonon Inc., Specim, Spectral Imaging Ltd., Spectris Plc, and Telops. are some of the major market participants. To help clients improve their market position, this hyperspectral imaging market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the hyperspectral imaging market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

Rising Investments and the Adoption of Hyperspectral Imaging in Environmental Monitoring will be a Key Market Trend

Large organizations located across the globe are investing in private sectors to prevent further environmental damage. Hyperspectral imaging plays a key role in mapping and monitoring the environment. Hyperspectral imagery information is useful in detecting wetland ecosystems affected by oil as the collected information is used to identify the changes in wetland vegetation and prevent damage. These images provide high-resolution information for targets in various circumstances. The rising investments and the adoption of hyperspectral imaging in environmental monitoring will be the major trends that will impact hyperspectral imaging systems market growth during the forecast period. Such factors will drive hyperspectral imaging market growth by 2024.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Hyperspectral Imaging Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist hyperspectral imaging market growth during the next five years
  • Estimation of the hyperspectral imaging market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the hyperspectral imaging market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hyperspectral imaging market vendors

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Military and surveillance - Market size and forecast 2019-2024
  • Healthcare - Market size and forecast 2019-2024
  • Food and agriculture - Market size and forecast 2019-2024
  • Remote sensing - Market size and forecast 2019-2024
  • Other applications - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer Landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • BaySpec Inc.
  • Corning Inc.
  • Cubert GmbH
  • Gooch & Housego Plc
  • Headwall Photonics Inc.
  • Norsk Elektro Optikk AS
  • Resonon Inc.
  • Spectris Plc
  • Telops

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201102005158/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: SOFTWARE DEFENSE AUDIO/VIDEO OTHER DEFENSE TECHNOLOGY MOBILE/WIRELESS OTHER TECHNOLOGY SECURITY

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 11/02/2020 04:00 AM/DISC: 11/02/2020 04:01 AM

http://www.businesswire.com/news/home/20201102005158/en