New York, United States , Nov. 09, 2023 (GLOBE NEWSWIRE) -- The Global Multispectral Camera Market Size is to Grow from USD 1.29 Billion in 2022 to USD 3.21 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.5% during the projected period.
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Multispectral cameras are powerful imaging equipment that can capture images at several wavelengths of the electromagnetic spectrum, offering significant data and insights that go beyond what the human eye can see. They are widely employed in a range of industries, including agricultural, defence, environmental monitoring, healthcare, and industrial applications. The growing demand for these systems in applications such as armed forces and defence, aerospace and aviation, monitoring and security, commercial operations such as surveying and mapping, remote sensing, life science and healthcare diagnostics, environment tracking, and others are propelling the multispectral camera market. Multispectral cameras collect information from the visible, infrared, SWIR, MWIR, and LWIR sections of the electromagnetic spectrum and are frequently employed for target & tracking, as well as Intelligence, Surveillance, and Reconnaissance, Imaging Systems. However, hyperspectral cameras, sensor-equipped drones, and satellite imagery compete with multispectral cameras. These alternatives may offer different capabilities, cost-effectiveness, or broader coverage, posing a threat to the market share of multispectral cameras.
Browse key industry insights spread across 200 pages with 140 market data tables and figures & charts from the report on "Global Multispectral Camera Market Size, Share, and COVID-19 Impact Analysis By Application (Defence, Commercial), By Cooling Technology (Cooled, Uncooled), By Spectrum (Visible Light, Near-Infrared, Short-wave infrared (SWIR), Mid-wave Infrared (MWIR), and Long-wave Infrared (LWIR)), By End Use (Man-portable, Payloads), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032)".
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The defence segment is expected to grow at the fastest pace in the global multispectral camera market during the forecast period.
The global multispectral camera market is divided into two segments based on application: defence and commercial. The defence segment is projected to expand at the greatest rate in the global multispectral camera market throughout the forecast period. Multispectral cameras are rapidly expanding in defines applications due to their ability to improve situational awareness and operational capabilities.
The near-infrared segment is expected to hold the largest share of the global multispectral camera market during the forecast period.
The global multispectral camera market is classified into visible light, near-infrared, short-wave infrared (SWIR), mid-wave infrared (MWIR), and long-wave infrared (LWIR) segments. The near-infrared segment will likely account for the majority of the global multispectral camera market throughout the forecast period. Precision agriculture is a major driver of the demand for NIR multispectral cameras. These cameras can provide detailed information about crop conditions, moisture levels, and nutrient levels, allowing farmers to maximize resource use and yields.
The payloads segment is expected to grow at the fastest pace in the global multispectral camera market during the forecast period.
The global multispectral camera market is divided into two segments: man-portable and payloads. The payloads segment is anticipated to expand at a rapid pace in the global multispectral camera market throughout the forecast period. A number of variables contribute to the increased use of multispectral cameras in payloads. For an instance, there is a rising requirement for detailed and accurate remote sensing data in a variety of industries such as forestry, agriculture, environmental monitoring, and infrastructure inspection.
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Asia Pacific is projected to hold the largest share of the global multispectral camera market during the study period.
During the projected period, Asia Pacific is anticipated to dominate the largest share of the global multispectral camera market. Precision agriculture is gaining popularity in countries such as China and India, and government initiatives to boost agricultural productivity are fueling up demand for multispectral cameras.
During the study period, North America is projected to expand at the highest pace in the global multispectral camera market. This is because of the presence of key market participants, technological advancements, and the widespread adoption of advanced imaging technologies in industries such as agriculture, defense, and healthcare.
Europe is a further significant market for multispectral cameras. The agricultural and environmental monitoring businesses are significant in the region, which supports the demand for multispectral cameras.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Multispectral Camera Market include Teledyne FLIR, Leonardo DRS, Collins Aerospace, Hensoldt, JAI, TetraCam Inc., Telops Inc., DJI, Paras Aerospace, Cubert GMBH, HGH Group, Opgal Optronics Industries Ltd., Unispectral, Silios technology, and Others.
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Recent Market Developments
In May 2023, Teledyne DALSA, a Teledyne Technologies company, has announced the availability of its Linea2 4k Multispectral 5GigE line scan camera. With its 5GigE interface and five times the bandwidth of the Linea GigE camera, this new camera takes vision systems to the next level in terms of performance and value. The Linea2 4k Multispectral 5GigE captures high resolution RGB plus Near Infrared (NIR) multispectral images at the same time to reveal invisible features that visible lighting alone cannot detect.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Multispectral Camera Market based on the below-mentioned segments:
Global Multispectral Camera Market, By Application
- Defense
- Commercial
Global Multispectral Camera Market, By Cooling Technology
- Cooled
- Uncooled
Global Multispectral Camera Market, By Spectrum
- Visible Light
- Near-Infrared
- Short-wave infrared (SWIR)
- Mid-wave Infrared (MWIR)
- Long-wave Infrared (LWIR)
Global Multispectral Camera Market, By End Use
- Man-portable
- Payloads
Global Multispectral Camera Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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