Hyperspectral Imaging Systems Market To Reach US$ 37.5 Billion by 2027 | CAGR of 17.74%

SHERIDAN, WY, UNITED STATES, November 15, 2022 /EINPresswire.com/ -- As per the latest report by IMARC Group, titled “Hyperspectral Imaging Systems Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global hyperspectral imaging systems market size reached US$ 13.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 37.5 Billion by 2027, exhibiting a growth rate (CAGR) of 17.74% during 2022-2027. A hyperspectral imaging system represents a technique utilized to analyze a broad spectrum of light via a spectrometer. The device uses transferred, reflected, or radiated light from the object to develop its spectral-based image in various colors (including red, blue, and green). A Hyperspectral imaging system also measures the absorption of electromagnetic reflections, radiations, and emissions from the object. The technique is commonly used for the identification of contaminants in food products, monitoring the development of crops, screening of manufacturing defects, and automated sorting of products. As a result, hyperspectral imaging system finds widespread applications across several sectors, such as mining, agriculture, military and defense, food and beverage (F&B), medical diagnostics, etc.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

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Global Hyperspectral Imaging Systems Market Trends:

The expanding medical and healthcare industry and the escalating demand for these techniques are among the primary factors driving the hyperspectral imaging systems market. Besides this, the elevating requirement for these tools to detect the presence of cancerous cells and analyze the progression of other chronic illnesses is further augmenting the market growth. Moreover, hyperspectral imaging systems are extensively utilized for the treatment and diagnosis of various diseases by analyzing the physiology and composition of the tissues and cells in the body, which is also catalyzing the global market. Apart from this, the growing popularity of these techniques in unmanned aerial vehicles (UAVs) is acting as another significant growth-inducing factor. Additionally, several technological advancements in sensors and the rising improvements in the spatial resolution that make surveillance and mapping more effective are also stimulating the market growth. Furthermore, the increasing industrial and agricultural applications and the inflating investments in research and development (R&D) activities are expected to bolster the hyperspectral imaging systems market in the coming years.

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Global Hyperspectral Imaging Systems Market 2022-2027 Analysis and Segmentation:

Competitive Landscape With Key Players:

• Applied Spectral Imaging
• BaySpec, Inc.
• ChemImage Corporation
• Corning Incorporated
• Cubert GmbH
• Headwall Photonics, Inc.
• Norsk Elektro Optikk AS
• Resonon Inc.
• Spectral Imaging Ltd.
• Surface Optics Corporation
• Telops Inc.

Breakup by Product Type:

• Cameras
• Accessories

Breakup by Application:

• Military Surveillance
• Remote Sensing
• Life Sciences & Medical Diagnostics
• Machine Vision & Optical Sorting
• Others

Breakup by Technology:

• Pushbroom
• Snapshot
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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