Global Hyperspectral Cameras Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Hyperspectral Cameras Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

The human eye sees three bands of visible light (red, green, and blue), and more bands can be seen through spectral imaging. Hyperspectral imaging (HSI) uses a wider spectrum to acquire imaging and spectral data simultaneously, which collects detailed spectral information for each pixel. Hyperspectral cameras combine the capabilities of imaging cameras and spectroscopy to identify spectral features that are invisible to ordinary cameras or the human eye. Hyperspectral imaging is increasingly popular in various industries and research applications due to its non-invasive and non-destructive capabilities in identifying and quantifying materials. Hyperspectral cameras are used in diverse fields such as astronomy, agriculture, molecular biology, biomedical imaging, mineralogy, geology, physics, cultural heritage, food processing, environment, and monitoring.

Market Overview:

The latest research study on the global Hyperspectral Cameras market finds that the global Hyperspectral Cameras market reached a value of USD 135.26 million in 2023. It’s expected that the market will achieve USD 221.47 million by 2029, exhibiting a CAGR of 8.57% during the forecast period.

Photonis announces agreement to acquire Telops

April 11, 2023
Photonis a global leader of highly differentiated technology for defence and industrial markets, held by HLD since 2021, announced today the signature of a definitive agreement to acquire the Canadian company Telops, a specialist developer and manufacturer of high-performance hyperspectral imaging systems and infrared cameras.

With over 100 people including more than 40 R&D experts and headquarters based in Quebec, Canada, Telops is a recognized infrared imaging company, offering high end products at the edge of the art for research labs and international customers. Telops has distinguished itself with the quality of its personal and innovative approach to the technological challenges in the field of optics and photonics.

By welcoming Telops to Photonis, the merged group will provide unique high-end imaging products to their Business-to-Business customers through mastering of component manufacturing, a large geographical reach and advanced technological capabilities.

Advantages of Hyperspectral Cameras

Hyperspectral imaging provides enhanced per-pixel information, making it particularly valuable when distinguishing objects or materials with similar colors. Hyperspectral imaging can be used in a wide range of applications, including quality control (wood, textiles, paper, building materials, pharmaceuticals), process control (films, moisture content, color), sorting (food, recyclable materials, minerals), remote sensing (ocean color, environmental monitoring, agriculture) and various others. With advances in compact, cost-effective, and powerful hyperspectral imaging systems, the technology can be used in a variety of environments and across platforms, from microscopes to aircraft.

Hyperspectral cameras are advanced imaging devices designed to scan a variety of wavelengths, including visible, ultraviolet, and near-infrared spectra. They are exceptionally durable and cost-effective while delivering exceptional accuracy, minimal distortion, low stray light, and superior image quality. Hyperspectral cameras can obtain continuous spectral information and spatial information of targets, which makes them excellent at identifying and classifying targets. Hyperspectral cameras can be used in a variety of applications such as environmental monitoring, agriculture, medicine, etc. It can detect and analyze the chemical composition, physical properties, and spatial distribution of targets, thereby providing useful information for various applications. Hyperspectral cameras typically have high sensitivity and accuracy, which allows them to detect and analyze weak spectral features and subtle changes in targets. Hyperspectral cameras can acquire and process data in real time and can transmit data remotely, making data acquisition and processing more convenient and faster.

Government and private companies provide more investment support

Governments provide financial support for R&D 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. In addition, 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 on R&D projects.

Canadian hyperspectral imaging satellite company, Wyvern, has received a CAD $4M investment from Sustainable Development Technology Canada (SDTC). The investment is tied to a 3-year project that includes support from xarvio® Digital Farming Solutions, a brand of BASF Digital Farming GmbH. Wyvern, a space data company offering affordable and easy-to-access high-resolution hyperspectral imagery, secured an additional USD $7M of funding led by Uncork Capital, with key investors including MaC Venture Capital and Y Combinator. With the new capital, Wyvern’s first three satellites are fully funded, providing certainty to customers with an interest in purchasing the limited remaining capacity. Metaspectral, a software company advancing computer vision using deep learning and hyperspectral imagery, has completed a $4.7 million seed round from SOMA Capital, Acequia Capital, the Government of Canada, and multiple notable angel investors including Jude Gomila and Alan Rutledge.

Region Overview:

In 2022, the share of the Hyperspectral Cameras market in Europe stood at 34.48%.

Company Overview:

The major players operating in the Hyperspectral Cameras market include Specim, Headwall, Norsk Elektro Optikk AS (NEO), Telops, Cubert Hyperspectral, etc. Among which, Specim ranked top in terms of sales and revenue in 2023.

Specim is the leading global supplier of hyperspectral imaging solutions. Specim offers the broadest range of hyperspectral cameras, imaging spectrographs, software, and accessories to serve integrators, OEMs, research, and government organizations worldwide.

Founded in 1995, Specim is known as the pioneer of hyperspectral imaging and a trusted partner with products and support of superb quality and cost-efficiency. Specim has been a part of the Konica Minolta Group since 2020.

Segmentation Overview:

By type, VNIR Type segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Industrial segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Hyperspectral Cameras market covered in Chapter 3:

Cubert Hyperspectral
Headwall
Telops
LLA Instruments GmbH
Surface Optics Corporation
Hinalea Imaging
Norsk Elektro Optikk AS (NEO)
XIMEA
BaySpec
Specim
Photonfocus
Resonon

In Chapter 4 and Chapter 14.2, on the basis of types, the Hyperspectral Cameras market from 2019 to 2030 is primarily split into:

VNIR Type
NIR Type
SWIR Type
Others (MWIR, LWIR, etc.)

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hyperspectral Cameras market from 2019 to 2030 covers:

Industrial
Agriculture
Medical
Environmental Monitoring
Food Inspection
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)