New York, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hyperspectral Imaging System Global Market Report 2022" - https://www.reportlinker.com/p06228524/?utm_source=GNW
, Applied Spectral Imaging Ltd, Raytheon Company, BaySpec Inc, Horiba Ltd, Hamamatsu Photonics K.K, Thorlabs Inc, Cubert GmbH, Diaspective Vision GmbH and Raptor Photonics.
The global hyperspectral imaging system market is expected to grow from $15.04 billion in 2021 to $17.76 billion in 2022 at a compound annual growth rate (CAGR) of 18.1%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $33.48 billion in 2026 at a CAGR of 17.2%.
The hyperspectral imaging system market consists of sales of hyperspectral imaging products and services by entities (organizations, sole traders, partnerships) that are used to collect images at different wavelengths. Hyperspectral imaging is a technique used in a variety of industries and applications to collect images at various wavelengths by using a spectral view at each point of the image in each direction to collect spectra for each pixel in the sample to identify objects and processes.
The main types of products in hyperspectral imaging systems are cameras and accessories.Cameras are used to capture images and scan them under ultra-scan, ultraviolet, and infra-red rays.
Cameras are used in laboratories, diagnostics, and other applications.The different technologies include push broom, snapshot, others and are used in applications such as military surveillance, remote sensing, life sciences, and medical diagnostics, machine vision, and optical sorting, among others.
It is implemented in various sectors such as food and agriculture, healthcare, defense, mining and metrology, others.
North America was the largest region in the hyperspectral imaging system market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing demand from the military and defense sectors is expected to drive the growth of the hyperspectral imaging system market going forward.The defense sector requires collecting airborne and space-borne intelligence, surveillance, and reconnaissance (ISR) information for various internal uses, through various electro-optical devices, such as hyperspectral imaging.
These devices also have applications in various aerial vehicles.For instance, in 2020, the Pentagon’s Defense Innovation Unit (DIU) was seeking offers from US operators of remote sensing satellites capable of providing data analytics and imagery services.
The DIU is interested in remote sensing technologies such as hyperspectral imaging, synthetic aperture radar, electro-optical imaging, radiofrequency sensing, and infrared imaging. Therefore, the increasing demand from the military and defense sectors propels the growth of the hyperspectral imaging system market.
The development of affordable hyperspectral imaging cameras is providing an opportunity to expand the usage of the technology in various fields and applications.From the historic period, the cost of hyperspectral imaging systems is high but the recent emerging affordable hyperspectral imaging systems are proving to be helpful in many fields especially in medical and diagnostics, scientific and laboratories, and others.
For instance, in 2020 Hyspex, a Norway-based company that offers hyperspectral cameras, announced the launch of an affordable universal hyperspectral camera with sharp optics and good accuracy. The camera features a special detector and is designed for field, laboratory, and airborne applications.
In January 2020, Headwall Photonics, US-based hyperspectral imaging instruments, and solutions company entered into a partnership agreement with Ocean Insights to distribute Headwall products through the commercial channels in the countries.The agreement results in the growth of Headwall hyperspectral imaging systems overall the region.
Ocean Insights is a Germany-based spectrometers manufacturer.
The countries covered in the hyperspectral imaging system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06228524/?utm_source=GNW
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