Hyperspectral Imaging Systems Market Growth & Trends
The global hyperspectral imaging systems market size is expected to reach USD 28.63 billion by 2030, expanding at a CAGR of 10.7% from 2024 to 2030, according to a new report by Grand View Research Inc. It is anticipated to expand at a CAGR of 10.3% during the forecast period. New product launches coupled with advancements in technology, designs, and features are driving the demand from various fields, such as military, remote sensing, healthcare, mining, vision and optical, and meteorology. There are certain advantages of hyperspectral imaging, such as the non-requirement of prior knowledge of the spectrum and sample.
In addition, it provides extensive information for analyzing and processing the image. These advantages are anticipated to drive investments from market players, which is anticipated to drive the demand during the forecast period. Hyperspectral imaging is being used extensively in the healthcare sector, mainly for ophthalmology, gastrointestinal procedures, tissue diagnosis, fluorescence microscopy, and vascular system imaging. The increasing application can be attributed mainly to the high clarity and accuracy of this imaging method.
Gather more insights about the market drivers, restrains and growth of the Hyperspectral Imaging Systems Market
Rapid industrialization along with demand for high bandwidth communication is poised to fuel the growth of the hyperspectral imaging systems market in the forthcoming years. In addition, existing market players are switching to advanced technologies to gain competitive advantages. A rise in R&D and growth opportunities in emerging countries and the aim to maintain international product quality standards are anticipated to drive market expansion.
Affordable electronic circuits and high-speed technologies have cascaded into the introduction of advanced sensor technologies. Furthermore, advancements in sensor technologies have improved the image quality, economic efficiency, and reliability of the technical products and thus, are anticipated to fuel the market growth.
Hyperspectral Imaging Systems Market Report Highlights
Hyperspectral camera is estimated to hold the largest market share in the near future due to the recent advancements in sensor development, which have led to the growth of the camera segmentThe military segment accounted for the largest market share due to advancements in data management of hyperspectral imaging along with component fabrication techniques, better accuracy, and consistency compared to other conventional imaging techniquesAsia Pacific has been estimated to be the fastest growing region due to the presence of a large pool of patients, increasing healthcare awareness, rising government funding for R&D, and upcoming research projectsBrowse more reports published by Grand View Research.
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Corning Inc.SpecimSpectral Imaging Ltd.Resonon Inc.Headwall PhotonicsTelopsNorsk Elektro OptikkSurface Optics CorporationBaySpec, Inc.HAIP Solutions GmbHXIMEA GmbHimecAbout Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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