The increasing funding and investments and growing industrial applications of hyperspectral imaging are the major factors driving the growth of this market.
According to the new market research report Hyperspectral Imaging Systems Market is projected to reach USD 30.0 billion by 2025, at a CAGR of 19.3%.
The pushbroom segment is estimated to account for the largest share of the market in 2019, while the snapshot segment is projected to register the highest CAGR during the forecast period. Based on technology, the Hyperspectral Imaging Market is segmented into pushbroom (line-scanning), snapshot (single shot), and other technologies [whiskbroom (point-scanning), tunable filters (wavelength scan), and imaging FTIR (time scanning)]. This can be attributed to the advantages offered by snapshot hyperspectral imaging systems, which make this technology most suitable for real-time analysis.
Cameras are expected to command the larger share of the market, by product, in 2019. On the basis of product, the Hyperspectral Imaging Systems Market is segmented into cameras and accessories. Technological advancements, the development of affordable hyperspectral imaging cameras, and the increasing adoption of hyperspectral technology for defense and industrial applications are driving the growth of the hyperspectral cameras segment.
The prominent players operating in the Hyperspectral Imaging Systems Market include Headwall Photonics, Inc. (US), Applied Spectral Imaging, Inc. (US), Norsk Elektro Optikk AS (Norway), Resonon, Inc. (US), Specim, Spectral Imaging Ltd. (Finland), Corning Incorporated (US), Surface Optics Corporation (US), Telops, Inc. (Canada), BaySpec, Inc. (US), Cubert GmbH (Germany), inno-spec GmbH (Germany), XIMEA GmbH (Germany), imec (Belgium), and ChemImage Corporation (US).
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