Global Hyperspectral Imaging Market Insights, Opportunity Analysis, Market Shares and Forecast 2017 – 2023

Global Hyperspectral Imaging Market Insights, Opportunity Analysis, Market Shares and Forecast 2017 – 2023

  • March 2016 •
  • 140 pages •
  • Report ID: 4366111 •
  • Format: PDF
The global hyper spectral imaging market is anticipated to grow at a CAGR of 12% for the forecasted period of 2016-2022. Hyper spectral imaging technique is the combination of digital imaging and spectroscopy, used to generate spectral based disparity in the image. HIS works on the principle of spectral-based contrast.

Spectral based contrast is generated by using either reflected, or transmitted or emitted light from samples’ image. The images are obtained from it at multiple wavelengths and are shaped in to 3-D hyper spectral data cube with one spectral dimension and two spatial dimensions. Various application areas of global hyper spectral imaging market are agriculture, colorimetry, environmental testing, food industry, life science & medical diagnostics, mining & mineralogy, military surveillance, meteorology and machine control & process vision. The military application segment dominates the global hyper spectral imaging market and accounts for a market share of approximately 19%. However, life science and medical diagnostic segment is expected to grow at the highest CAGR during the forecast period.

Currently, the global hyper spectral imaging market is undergoing a rapid change due to increasing application areas and development of new technologies. Rapidly increasing adoption of HIS, in various medical procedures like ophthalmology, vascular system, mucosal membrane analysis, surface tissue etc., increasing use of the technique in various research activities, increasing awareness among the industries such as food, life science, environmental etc., with respect to hyper spectral imaging techniques and technological advancements in HIS techniques are the few factors that are driving the global hyper spectral imaging market. Increasing patient base in emerging economies and favorable government policies are few growth opportunities for this segment. However, lack of skilled professionals, reimbursement issues faced by the manufacturers and requirement of high initial investment and installation cost are hampering the market growth to a certain extent.

Globally, the biggest market for hyper spectral imaging is North America. In 2014, North America has a market share of approximately 51%. Prevalence of major manufacturers in the region with increased awareness and adoption of the HIS technology as compared to any other region are the factors responsible for this large market share of the region However, Asia Pacific is anticipated to grow at the highest CAGR in the forecast period. China and Japan provides great opportunity and it is expected that the market will grow rapidly during the forecast period. The leading players in the global hyper spectral imaging market have adopted partnership/collaboration, mergers and expansion as the most preferred strategies to increase their product portfolio and expand their respective market presence. The key market players are Applied Spectral Imaging Ltd., Brandywine Photonics LLC, ChemImage Corporation, Cubert-GmbH, CytoViva, Inc., Gilden Photonics Ltd., Headwall Photonics, Inc., HyVista Corporation Pty Ltd., Imec, LemnaTec GmbH, Norsk Elektro Optikk A/S, Optics A/S, Specim Spectral Imaging Ltd., Surface Optics Corp. and Telops Inc. In June 2016, SPECIM Spectral Imaging has increased its product portfolio by launching new camera series SPECIM FX 10 designed specifically for industry needs. It was launched to cater growing market demand.