About Hyperspectral Imaging-
Hyperspectral imaging also called imaging spectroscopy combined spectroscopy and the power of digital imaging. The main aim of hyperspectral imaging is to collect the spectrum for each pixel and find objects, detect processes, and identify materials by using hyperspectral cameras, hyperspectral sensors, and accessories. Increasing industrial applications such as remote sensing and machine vision of hyperspectral imaging and increasing utilization of hyperspectral imaging for environmental monitoring by many regional governments are the major drivers for the market. Additionally, the rising use of hyperspectral imaging in the healthcare sector for eye care is supplementing the growth of the market. However, high initial investments, rising reimbursement, data storage issues, and installation costs are limiting the market. Moreover, increasing funding, investment for hyperspectral imaging, innovation in miniaturization, and sensor technology may create an opportunity for the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
In the last couple of decades, the global hyperspectral imaging market was highly concentrated on very few players including Headwall Photonics, Corning Incorporated, SPECIM, Resonon, Telops, and a few others. Thus the market was showing strategic monopoly in a moderately competitive environment. However, with respect to minimal initial investments in hyperspectral imaging manufacturing have favored the number of new entrants to gain market share from the local market. Global leaders' businesses might be affected due to new entrants. Moreover, global leaders will continuously adopt strategic partnerships and technological developments to gain a competitive edge in a moderately competitive environment Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
HeadWall Photonic Inc. (United States), Telops Inc. (Canada), Corning Incorporated (United States), Norsk Electro Optics corporation (America), Surface Optics Corporation .(California), Bayspec Inc. (California), Applied Spectral Imaging (United States), Surface Optics Corporation.(United States), Resonon (Montana) and XIMEA GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Cubert GmbH (Germany), Imec (Belgium), INO (Canada) and Teledyne FLIR LLC.(United States).
Segmentation Overview
AMA Research has segmented the market of Europe Hyperspectral Imaging- market by Type (Visible/Near-Infrared (VNIR), Short-Wave Infrared (SWIR), Mid-Wave Infrared (MWIR) and Long-Wave Infrared (LWIR)), Application (Military Surveillance, Remote Sensing (Agriculture, Mining/Mineral Mapping, Environmental Monitoring), Life Sciences & Medical Diagnostics, Machine Vision & Optical Sorting and Other Applications) and Region.
On the basis of geography, the market of Hyperspectral Imaging- has been segmented into Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe). If we see Market by Component, the sub-segment i.e. Hyperspectral Cameras will boost the Hyperspectral Imaging- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Use of Hyperspectral Imaging in the Healthcare Sector for Eye Care
Market Growth Drivers:
Increasing Industrial Applications such as remote sensing and Machine Vision of Hyperspectral Imaging and Increasing Utilization of Hyperspectral Imaging for Environmental Monitoring by Many Regional Governments
Challenges:
Rising Reimbursement and Data Storage Issues
Restraints:
High Initial investments and installation costs limit the market
Opportunities:
Increasing Funding and Investment for Hyperspectral Imaging, Innovation in Miniaturization and Sensor Technology may create an opportunity for the market and Growing Number of Research Projects for Hyperspectral Imaging
Market Leaders and their expansionary development strategies
On July 2022, Headwall Photonics, a manufacturer of holographic master gratings, and spectrometers for OEM customers, announced the acquisition of Holographix LLC. For over 25 years, Holographic has focused on replicating micro- and nanostructures into high-performance, custom-designed photonic solutions for the life sciences, semiconductor, aerospace and defense, and metrology markets.
In May 2023, Specim announced the next-generation near-infrared line-scan hyperspectral camera, Specim GX17, for advanced machine vision. The new Specim GX17 complements Specim’s highly successful FX camera series, the first hyperspectral cameras designed specifically for industrial use.
Key Target Audience
Hyperspectral Imaging Manufacturers, Distributors and Suppliers, Raw Material Suppliers, Government Agencies, Private Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.