Hyperspectral Imaging Systems Market by Product (Camera, Accessories), Technology (Snapshot, Pushbroom), Application (Military, Remote Sensing (Agriculture, Environmental), Machine Vision, Life Sciences & Diagnostics) & Region-Global Forecast to 2028

Hyperspectral Imaging Systems Market by Product (Camera, Accessories), Technology (Snapshot, Pushbroom), Application (Military, Remote Sensing (Agriculture, Environmental), Machine Vision, Life Sciences & Diagnostics) & Region-Global Forecast to 2028

The global hyperspectral imaging systems market is projected to reach USD 34.3 billion by 2028 from USD 16.8 billion in 2023, at a CAGR of 15.4% during the forecast period. The growth of this market is majorly driven by the growing AI-based hyperspectral sensing techniques for food, agriculture, and medical applications. However, However, issues related to data storage restrain the growth of the hyperspectral imaging systems market.

“The cameras segment accounted for the highest market share in the hyperspectral imaging systems market, by product, during the forecast period”

Based on the product segment, the hyperspectral imaging systems system market is categorized into cameras and accessories. The cameras segment is expected to witness a high market share during the forecast period. This can be attributed to the growing advancements in technology to make it a low-cost camera.

“Snapshot technology accounted for the highest CAGR during the forecast period”

Based on technology, the hyperspectral imaging systems market is segmented into pushbroom, snapshot, and other technologies. In 2022, the pushbroom dominated the market and snapshot technology to observe the highest growth rate. Factors supporting the growth of snapshot technology include an increasing number of product launches.

“The North America segment accounted for the highest market share in the hyperspectral imaging systems market, by region, during the forecast period”

Based on the region, the global hyperspectral imaging systems market is categorized into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to witness a high market share during the forecast period. The presence of technologically advanced hyperspectral products and the increasing adoption of hyperspectral in mining and pharmaceutical companies are supporting the growth of the hyperspectral imaging systems market.

Breakdown of supply-side primary interviews, by company type, designation, and region:

By Company Type: Tier 1 (30%), Tier 2 (48%), and Tier 3 (22%)

By Designation: C-level (28%), Director-level (33%), and Others (39%)

By Region: North America (32%), Asia- Pacific (23%), Europe (30%), Rest of the World (15%)

Prominent companies include Headwall Photonics (US), Corning Incorporated (US), Specim, Spectral Imaging Ltd. (Finland), Resonon, Inc. (US), Norsk Elektro Optikk(Norway), Telops, Inc. (Canada), Applied Spectral Imaging (US), Surface Optics Corporation (US), ChemImage Corporation (US), Cubert GmbH (Germany), BaySpec, Inc. (US), Galileo Group, Inc. (US), HyperMed Imaging, Inc. (US), Inno-Spec GmbH (Germany), Clyde HSI (Scotland), Imec (Belgium), Brandywine Photonics (US), XIMEA GMBH (Germany), Photon ETC. (Canada), CytoViva, Inc. (US), Diaspective Vision (Germany), Gamaya (Switzerland), Hinalea Imaging (US), Orbital Sidekick (US), Glana Sensors AB (Sweden), Malvern Panalytical Ltd (UK), JB Hyperspectral Devices GmbH (Germany), HORIBA Ltd. (Japan), ORNET SDN BHD (Malaysia), and Thorlabs, Inc. (US).

Research Coverage

This research report categorizes the hyperspectral imaging systems market by product, technology, application, and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the hyperspectral imaging systems market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the hyperspectral imaging systems market. Competitive analysis of upcoming startups in the hyperspectral imaging systems market ecosystem is covered in this report.

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall hyperspectral imaging systems market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers, restraints, opportunities, and challenges influencing the growth of the hyperspectral imaging systems market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the hyperspectral imaging systems market.

Market Development: Comprehensive information about lucrative markets – the report analyses the hyperspectral imaging systems market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the hyperspectral imaging systems market

Competitive Assessment: In-depth assessment of market ranking, growth strategies and service offerings of leading players like Headwall Photonics (the US), Corning Incorporated (US), Specim, Spectral Imaging Ltd. (Finland), Resonon, Inc. (US), and Norsk Elektro Optikk (Norway), among others in the hyperspectral imaging systems market strategies.