BIS Research Study Projects the Global Hyperspectral Imaging Market to Reach $1.64 Billion by 2027

FREMONT, Calif., July 28, 2022 /PRNewswire/ -- The premium market intelligence study by BIS Research titled Hyperspectral Imaging Market – A Global and Regional Analysis projects the market to reach $1.64 billion in terms of revenue by 2027, at a CAGR of 13.17%.  

Hyperspectral imaging (HSI) technology examines a broad spectral range of light frequencies ranging from ultraviolet (UV) to infrared (IR) by developing hypercube data, which is a three-dimensional dataset having one spectral dimension and two spatial dimensions.

HSI is an emerging imaging technology that can be used for various applications such as medical diagnostics, image-guided surgery, drug analysis, defense, agriculture, food quality monitoring, mining, geology, environmental monitoring, and biological research.

This report includes the various hyperspectral imaging cameras that are intended for use in healthcare, defense, agriculture, mining, food inspection, and environmental analysis, among others. Additionally, the report also covers the several accessories used along with the hyperspectral imaging cameras, such as light sources, software systems, and lenses.

The detailed study is a compilation of ten market data tables and 264 figures spread through 324 pages and an in-depth TOC on "Hyperspectral Imaging Market  – Analysis and Forecast, 2022-2027."

Demand - Drivers and Limitations

Following are the demand drivers for the hyperspectral imaging market:

• Widespread applications of hyperspectral imaging technology
• Increasing demand from the military and defense sectors
• Increasing investment by the government for research and development activities
• Increase in the prevalence of chronic disorders and the geriatric population boosting the growth of medical hyperspectral imaging market
• Growing awareness regarding early diagnosis of diseases
• Increased global food safety concerns

The market is expected to face some limitations as well due to the following challenges:

• High cost of hyperspectral devices
• Lack of infrastructure and skilled professionals to support hyperspectral devices
• High volume of produced data

Reasons to Buy this Report

This exclusive report on the hyperspectral imaging market will help in the following ways:

•  Development of advanced hyperspectral imaging devices spanning various applications
•  Understanding the regulatory scenario of the market in different regions
•  Understanding the patent trend of the market
•  Targeting end users to increase the adoption of hyperspectral imaging devices
•  Support in analyzing the market opportunities
•  Understanding the competitive positioning of the key companies in the market

Analyst's Take on the Market:

According to Satyendra Singh Rajput, Lead Analyst, BIS Research, "The market for hyperspectral imaging, in the healthcare segment, is expected to grow rapidly as the technology has the potential to be used in image-guided surgeries, where it can provide better visuals without the use of contrast agents."

View the report on Global Hyperspectral Imaging Market

Key Companies Operating in the Market and Competitive Landscape

The companies that are profiled have been selected based on inputs gathered from primary experts and analysis of company coverage, product portfolio, and market penetration.

Some of the players in this market are:

Company Type 1: Established Companies

• BaySpec, Inc.
• Corning Incorporated
• CytoViva, Inc.
• Headwall Photonics, Inc.
• HORIBA Ltd.
• HyperMed Imaging, Inc.
• Konica Minolta (Specim Spectral Imaging Ltd)
• Norsk Elecktro Optikk A/S
• Photon Etc.
• Resonon, Inc.
• Swift Medical
• IMEC International
• Teledyne FLIR LLC
• Inno-Spec GmbH

Company Type 2: Emerging Companies

• Clyde Hyperspectral Imaging and Technology Ltd
• Cubert GmbH
• Diaspective Vision GmbH
• Emberion
• GAMAYA
• HAIP Solutions GmbH

Who Should Buy This Report?

The companies that are manufacturing and commercializing hyperspectral imaging cameras and accessories for use in healthcare, defense, agriculture, mining and minerals, research institutions, and regulatory bodies.

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Key Questions Answered in the Report:

• What are the major market drivers, challenges, and opportunities in the global hyperspectral imaging market?
• What are the underlying structures resulting in the emerging trends within the global hyperspectral imaging market?
• How is each segment of the global hyperspectral imaging market expected to grow during the forecast period, and what is the anticipated revenue to be generated by each segment by the end of 2027?
• What are the significant developmental strategies implemented by the major players in order to sustain in the competitive market? What are the key regulatory bodies controlling the entry of hyperspectral imaging products into the market?
• Who are the leading players with significant offerings to the global hyperspectral imaging market? What is the current market dominance for each of these leading players?
• What is the expected compound annual growth rate (CAGR) to be witnessed by the leading players in the market during the forecast period 2022-2027?
• What are the major technological as well as regional adoption trends pertaining to the global hyperspectral imaging market?
• What are the major technologies employed in the global hyperspectral imaging market? Which is the most dominating technology?
• Who are the key manufacturers in the global hyperspectral imaging market, and what are their contributions?

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About BIS Research: 

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals. 

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management. 

BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape. 

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