Hyperspectral Imaging Systems Market - By Product (Camera, Accessories), By Technology (Push Broom, Snapshot), By Application (Military, Remote Sensing, Medical Diagnostics, Machine Vision & Optical Sorting)– Global Forecast to 2032

Hyperspectral Imaging Systems Market Size

Hyperspectral Imaging Systems Market size was valued at over USD 16 billion in 2022 and is projected to reach more than USD 47 billion by 2032.
 

Hyperspectral imaging systems refer to advanced imaging technologies that capture and analyse a wide range of spectral information from an object or scene. Hyperspectral imaging systems capture data across numerous narrow and contiguous spectral bands, resulting in a high-resolution spectral signature for each pixel of an image. The growing usage of hyperspectral imaging in various areas including healthcare, R&D, night vision, defence, food industry, and remote sensing is expected to drive the market demand. Furthermore, technological developments such as sensor design, high spatial resolution, high spectrum resolution, compact and lightweight devices are estimated to increase acceptance in near future.
 

Hyperspectral imaging systems are extensively used in remote sensing applications such as agriculture, forestry, environmental hazard monitoring, and mineral exploration. The growing demand for detailed and accurate information about land, crops, water bodies, and natural resources is driving the adoption of hyperspectral imaging systems.
 

COVID-19 Impact

The COVID-19 pandemic moderately impacted the overall medical imaging sector. The pandemic led to disruptions in global supply chains due to lockdowns, travel restrictions, and manufacturing plant closures. This affected the production and availability of hyperspectral imaging systems, leading to delays in delivery and installation for customers. The supply chain challenges impacted the market growth to some extent. However, the increased demand for diagnostic and monitoring solutions in the healthcare sector positively impacted the market share.

Hyperspectral Imaging Systems Market Trends

Government initiatives and funding play a crucial role in driving the development and adoption of hyperspectral imaging systems. Governments provide financial support for research and development activities related to hyperspectral imaging. Funding programs and grants are available to academic institutions, research organizations, and companies engaged in developing innovative hyperspectral imaging technologies. Moreover, governments form partnerships with private companies to support the development and deployment of these systems. These partnerships involve joint funding, sharing of resources and expertise, and collaboration in research and development projects.
 

Hyperspectral Imaging Systems Market Analysis

Based on product, the hyperspectral imaging systems market is segmented into camera, accessories. The camera segment held the largest revenue size over USD 9 billion in 2022 and is estimated to witness significant growth more than USD 29 billion by 2032. Factors such as recent advancements in the development of sensors have contributed to the growth of the camera segment. The development of highly sensitive and high-resolution sensors, such as charge-coupled devices (CCDs) and complementary metal-oxide-semiconductor (CMOS) sensors, has greatly improved the performance of hyperspectral imaging systems. Moreover, modern hyperspectral cameras can cover a wider spectral range, including the visible, near-infrared (NIR), and shortwave infrared (SWIR) regions of the electromagnetic spectrum. Therefore, with ongoing technological advancements and cost reductions, cameras will continue to play a pivotal role in expanding the capabilities and applications of hyperspectral imaging.
 

Based on technology, the hyperspectral imaging systems market is bifurcated into push broom, snapshot, and others. The snapshot segment is anticipated to witness highest CAGR at 12.1% during the forecast period. The growth of snapshot technology in hyperspectral imaging systems is driven by several factors that contribute to its increased adoption and expanded applications such as patient’s snapshot which delivers aggregated view of patient’s entire clinical data at once. Snapshot hyperspectral imaging systems provide real-time imaging capabilities, enabling immediate data acquisition and analysis.
 

Hyperspectral imaging systems market is bifurcated based on the application including military, remote sensing, medical diagnostics, machine vision & optical sorting, and others. The medical diagnostics segment is anticipated to witness highest CAGR at 12% during the forecast period. Diagnostic information about tissue anatomy, content, and physiology is provided via hyperspectral imaging. The identification of the spread of a disease, the scattering, fluorescence, and absorption of the tissue change through this type of imaging have a wide range of applications in tissue pathology diagnostics.
 

Hence, hyperspectral imaging can be widely used in gastrointestinal procedures, ophthalmology diagnostics, fluorescence microscopy, advanced wound care management, cell biology, and vascular systems. Due to ongoing innovation and technological breakthroughs, high clarity and accuracy in this technology are expected to generate growth prospects in medical diagnostics industry during the projected years.
 

U.S. hyperspectral imaging systems market accounted for more than USD 5 billion in 2022 and will grow momentously more than USD 14 billion by 2032. This is owing to the region's strong healthcare infrastructure, high healthcare spending, adoption of cutting-edge technologies, and the presence of numerous industry participants. The region's scientific activities have also increased due to better funding.
 

In addition, to having significant research funding through government organisations such as the National Institutes of Health (NIH), the country spends majority of its funds on healthcare. Market expansion is accelerating as a result of the focus on healthcare and efforts related to it, such as the Patient Protection and Affordable Care Act.
 

Hyperspectral imaging systems Market Share

Some of the notable key industry players operating in the hyperspectral imaging systems market include:

•  Headwall Photonics, Inc.
• Telops Inc.
• Corning Incorporated
• Norsk Elektro Optikk AS
• Surface Optics Corporation
• Bayspec Inc.
• Applied Spectral Imaging
• Surface Optics Corporation
• Specim, Spectral Imaging Ltd.
• Resonon
• XIMEA GmbH
   

 These market participants are implementing various growth strategies such as collaborations, partnerships, acquisitions & mergers, and new product development and launches to strengthen product offerings as well as gain a competitive edge over others.
 

Hyperspectral Imaging Systems Industry News:

• In September 2022, Resonon introduced two new NIR range (925 - 1700 nm) the Pika IR-L and Pika IR-L+ hyperspectral imagers. The new images are smaller, nearly three times lighter, and have a greater spectral resolution those produced by the current generation of NIR imagers. This has helped the company to enhance its product portfolio and expand its market presence.
   
• In September 2022, NASA and the U.S. Geological Survey announced the use of sophisticated airborne imaging to map sections of the Southwest U.S. for key minerals. The scientists used hyperspectral data from hundreds of wavelengths of reflected light to better comprehend the Earth's geology, biology, and the effects of climate change. The Geological Earth Mapping Experiment (GEMx) collect measurements over the country's arid and semi-arid regions using NASA's Hyperspectral Thermal Emission Spectrometer (HyTES) and Airborne Visible/Infrared Imaging Spectrometer (AVIRIS) instruments flown on NASA's ER-2 and Gulfstream V aircraft.
   

Hyperspectral imaging systems market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Product (USD Million)

• Camera
• Accessories   

By Technology (USD Million)

• Push broom
• Snapshot
• Other

By Application (USD Million)

• Military
• Remote sensing
• Medical diagnostics
• Machine vision & optical sorting
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • Switzerland
  • Norway
  • Finland
  • Sweden
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Indonesia
  • Taiwan
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Israel