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Global Hyperspectral Imaging Market By Product(Cameras, Accessories), By Technology (Snapshot, Pushbroom, Others), By End User (Military, Machine Vision, Others), By Region–Forecast & Opportunities to 2026

Report Description

The global hyperspectral imaging market accounted for USD 8.7 billion in 2019. It is projected to register growth at a CAGR of 12.9% during the forecast period.

COVID-19 has impacted all the businesses across the globe. It has disrupted many markets for long term but it is expected to have short-tem impact on hyperspectral imaging market. Due to lockdown the production and manufacturing of many industries have been halted. The demand and supply gap has been severely affected.  Due to lockdown and mobility restriction the hyperspectral market is expected to have some short-term negative impact.

Definition:

The hyperspectral imaging (HSI) market can be defined as a series of activities through which one can capture images and the values of spectral radiance are assigned to each pixel using various wavelengths of the electromagnetic spectrum under visible & infrared region. It is a combination of spectroscopy and digital imaging in order to enhance the ability to distinguish over the detection methods and conventional imaging. It also enhances sensitivity.

Market Dynamics (Drivers/Opportunities):

The advancement in technologies in hyperspectral imaging sector is likely to drive the growth in this market. The various advancements in software and hardware for analysis and processing of image have been taking place. Due technological advancement more industries are adopting HSI. Thus, drives the market to witness growth.

The investments in hyperspectral imaging (HSI) market have been increasing immensely across the globe. The funding in HSI research sector is also increasing immensely. This is major driver factor of HSI Market during the forecast period.

Industries such as medical, military and commercial are adopting hyperspectral imaging system rapidly at a large scale is likely to drive growth in HSI market. It has been proved to be very beneficial for all these industries across the globe. This creates huge opportunity in HSI market during forecast period.

Market Insights, by Product

On the basis of product the hyperspectral imaging market has been segmented into cameras and accessories. The cameras market accounted for the highest market share in 2019. The cameras market is projected to register growth at highest CAGR. The major drives factor are the affordable hyperspectral imaging cameras are being developed, technological advancement and increase in the adoption of  hyperspectral technology in various sectors such as industrial and defense application. All this factors together drive the growth in market.

Market Insights, by Technology

Based on the technology, the hyperspectral imaging market has been segmented into snapshot, pushbroom and other technologies. The pushbrrom segment accounted for the maximum market share in 2019. It known for simplified illumination requirements and high spectral resolution. It has features such as minimum heat, minimum illumination exposure and shorter capturing time when compared to others. All this factors drives the growth of hyperspectral imaging market during forecast period.

Market Insights, by End-User

On the basis of end-user, the hyperspectral imaging market is segmented into remote sensing, military, machine vision, medical diagnostics, optical sorting and others. The military segment has accounted for the maximum market growth in 2019. The various factors leading to growth are better accuracy & consistency, component fabrication and advanced data management.

The medical diagnostic segment is projected to witness fastest growth during the forecast period. Diagnostic information regarding tissue morphology, physiology and composition can be captured through hyperspectral imaging. It has wide range of utilization in medical diagnostic market thus, drives the growth in this segment during the forecast period. 

Regional Insights

The North America region accounted for maximum market share in 2019. The funding for research has been increased immensely in North America region which is driving market growth. The technological advancement and awareness about the benefits of hyperspectral imaging in commercial industries is increasing is also responsible for market growth in North America segment. The North America region is projected to witness growth at highest CAGR during the forecast period.

Key Companies & Market Share Insights

The key market players in hyperspectral imaging market are Spectral Imaging, Specim, Headwall Photonics, Corning Incorporated, Resonon Inc., Norsk Elektro Optikk, Telops, CytoViva, Surface Optics Corporation, Raytheon Company, Appied Spectral Imaging Ltd., Chemlmage Corporation, BaySpec Inc., HyperMed Imaging Inc. and Camlin Ltd.

Segments Covered in the Report

This report forecasts The Global Hyperspectral Imaging Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2025. For the purpose of this study, Our Company has segmented the global Automotive Brake System market report on the basis of product, technology and end-User.

Hyperspectral Imaging Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • ValueChain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Hyperspectral Imaging Market, By Product, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Cameras
  • Accessories
  1. Hyperspectral Imaging Market, By Technology, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Snapshot
  • Pushbroom
  • Other technologies
  1. Hyperspectral Imaging Market, By End User, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Remote Sensing
  • Military
  • Machine Vision
  • Medical Diagnostics
  • Optical Sorting
  • Others
  1. Hyperspectral Imaging Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Product
    • By Technology
    • By End-User
    • By Country
      • USA
        • By End-User
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Product
      • By Technology
      • By End-User
      • By Country
        • Brazil
          • By End-User
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Product
        • By Technology
        • By End-User
        • By Country
          • UK
            • By End-User
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Product
          • By Technology
          • By End-User
          • By Country
            • China
              • By End-User
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Product
            • By Technology
            • By End-User
            • By Country
              • Saudi Arabia
                • By End-User
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Camlin Ltd.
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Specim
    • Spectral Imaging,
    • Headwall Photonics
    • Corning Incorporated
    • Resonon Inc.
    • Norsk Elektro Optikk
    • Telops
    • CytoViva
    • Surface Optics Corporation
    • Raytheon Company
    • Appied Spectral Imaging Ltd.
    • Chemlmage Corporation
    • BaySpec Inc.
    • HyperMed Imaging Inc.
  2. Appendix
    • Interrelated Market

 

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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