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Hyperspectral Imaging Market Size

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The global hyperspectral imaging market is expected to reach USD 129.6 million by 2025
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Hyperspectral Imaging Market Share, Size, Analysis, Growth,
Industry Trends and Forecast to 2025 | Hexa Research
“The global hyperspectral imaging market size was
valued at USD 96.5 million in 2017 and is expected to
grow at a CAGR of 3.8% from 2017 to 2025..”
19 March 2019, The global Hyperspectral Imaging Market is expected to reach USD 129.6 million by 2025. Over
the past few years, incorporation of engineered materials including multicore optical fiber have played a crucial
role in the inclusion of advanced instrumentation capabilities and reduction in the cost of ownership. This trend
is projected to add to the demand of hyperspectral imaging as a key tool for providing extensive information to
buyers in remote sensing, manufacturing, astronomy, and surveillance industries.
Technological advancements have led to the development of surveillance cameras and related devices. Cost
reduction in the IT sector, growing demand for big data analysis, and management of centralized data are
expected to positively impact the market of video surveillance. Therefore, the technological advancements and
increasing application of video surveillance in various segments including retail and manufacturing s ectors is
projected to increase the utility of hyperspectral devices in the near future.
Over the past few years, the utility of hyperspectral imaging in medium and low altitude UAVs has grown
significantly and is expected to expand the market considerably over the coming years. Furthermore, the
Commercial Off-The-Shelf (COTS) sensors are very useful for spectral tagging, checkpoint inspections, and
border control. It is also a cost-effective solution for detecting metal corrosion and metal fatigue on aircrafts and
naval vessels.
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Hyperspectral remote sensing technology is also known as imaging spectroscopy. It has gained importance in
multiple fields including minerals and material identification, vegetation mapping, and scientific researches. The
materials are detected through signal-to-noise ratio, spectral coverage, and spectral resolution. Remote sensing
technology was started as mineral and soil detection tool in the field of geology.
In past few years, the application of remote sensing has expanded with the advancement of technology.
Hyperspectral imaging systems are used in defense, life science, remote sensing, and optical sorting sectors. It
also enables to check the coastal water quality and estimation of eutrophication. In the agricultural sector, it is
used for plant health monitoring, weed identification, soil detection, and ripeness evaluation.
Hyperspectral imaging coupled with spatial pattern recognition algorithm enables soil pattern detection,
contaminants detection, defect identification in the manufacturing process, and coating condition assessment.
Hyperspectral machine vision system is preferred for quality control process including automated commodity
sorting and picking. It provides more accurate and faster results than the conventional machine vision system. As
machine vision is an important tool for sectors including food & beverage, pharmaceutical, and chemicals, the
utility of hyperspectral imaging in all these sectors is increasing. In addition, hyperspectral imaging is an
important tool for analyzing the topography of waste materials including, metal, plastic, and paper.
Some of the key manufacturers include Headwall Photonics, Corning, Specim Spectral Imaging, Resonon,
Telops, Norsk Elektro Optikk, BaySpec, and Imec. New product launches and business partnership with key
distributors are projected to remain critical success factors in the near future. In June 2018, Headwall Photonics
introduced advanced sensor payloads consisting of LIDAR and hyperspectral sensors for deployment on
Unmanned Aerial Vehicle (UAV) platforms.
The launch enabled the company to provide solutions for critical remote sensing applications for both civil and
military infrastructure inspection. On similar lines, in April 2018, Telops announced partnership with a
distributer, Infrared Imaging LLC, with the view to strengthen its position in the U.S. market.
Hexa Research has segmented the hyperspectral imaging market report based on product, application and
region:Segmentation by product
• Visible/Near-Infrared (VNIR)
• Short-Wave Infrared (SWIR)
• Mid-Wave Infrared (MWIR)
• Long-Wave Infrared (LWIR)
Segmentation by application
• Defense and Surveillance
• Remote Sensing
• Life Sciences & Medical Diagnostics
• Machine Vision & Optical Sorting
• Others
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Segmentation by region
• North America
• Europe
• China
• Japan
• South East Asia
• India
• Rest of the World
Key players analyzed:
• Headwall Photonics, Inc.
• Resonon Inc.
• Specim, Spectral Imaging Ltd.
• Imec
• Surface Optics Corporation
• Norsk Elektro Optikk AS (NEO)
• Corning Incorporated
• ITRES
• Telops
• BaySpec, Inc.
• Brimrose Corporation
• ZOLIXINSTRUMENTS CO.,LTD
• Shenzhen Wayho Technology Ltd
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Table of Content of Hyperspectral Imaging Market
Chapter 1. Executive Summary
Chapter 2. Methodology and Scope
2.1. Research methodology
2.2. Assumptions
2.3. List of data sources
Chapter 3. Introduction
3.1. Research scope & market segmentation
Chapter 4. Hyperspectral Imaging Market Trends: Drivers & Opportunities
4.1. Key industry trends
4.1.1. Raw material trend
4.1.2. Technology trend
4.1.3. Supplier trend
4.1.4. Buyer trend
4.2. Market drivers
4.2.1. Rising spending towards surveillance
4.2.2. Advancement in remote sensing
4.3. Market restraints
4.3.1. High cost and complexity associated with hyperspectral imaging
4.4. Opportunity assessment
4.5. Value chain analysis
4.6. PESTEL Analysis
4.7. Porter's five forces analysis
Chapter 5. Hyperspectral Imaging Market Trends, By Product
5.1. Global Hyperspectral Imaging market movement, by product, 2017 & 2025
5.2. Visible/Near-Infrared (VNIR)
5.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
5.3. Short-Wave Infrared (SWIR)
5.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
5.4. Mid-Wave Infrared (MWIR)
5.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
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5.5. Long-Wave Infrared (LWIR)
5.5.1. Market estimates and forecast, 2015 - 2025 (USD Million)
Chapter 6. Hyperspectral Imaging Market Trends, By Application
6.1. Global Hyperspectral Imaging market movement, by application, 2017 & 2025
6.2. Defense and Surveillance
6.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
6.3. Remote Sensing
6.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
6.4. Life Sciences & Medical Diagnostics
6.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
6.5. Machine Vision & Optical Sorting
6.5.1. Market estimates and forecast, 2015 - 2025 (USD Million)
6.6. Others
6.6.1. Market estimates and forecast, 2015 - 2025 (USD Million)
Chapter 7. Hyperspectral Imaging Market Trends, By Region
7.1. Global Hyperspectral Imaging market movement, by region, 2017 & 2025
7.2. North America
7.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.2.2. Market estimates and forecast, by product, 2015 - 2025 (USD Million)
7.2.3. Market estimates and forecast, by application, 2015 - 2025 (USD Million)
7.3. Europe
7.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.3.2. Market estimates and forecast, by product, 2015 - 2025 (USD Million)
7.3.3. Market estimates and forecast, by application, 2015 - 2025 (USD Million)
7.4. China
7.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.4.2. Market estimates and forecast, by product, 2015 - 2025 (USD Million)
7.4.3. Market estimates and forecast, by application, 2015 - 2025 (USD Million)
7.5. Japan
7.5.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.5.2. Market estimates and forecast, by product, 2015 - 2025 (USD Million)
7.5.3. Market estimates and forecast, by application, 2015 - 2025 (USD Million)
7.6. South East Asia
7.6.1. Market estimates and forecast, 2015 - 2025 (USD Million)
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7.6.2. Market estimates and forecast, by product, 2015 - 2025 (USD Million)
7.6.3. Market estimates and forecast, by application, 2015 - 2025 (USD Million)
7.7. India
7.7.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.7.2. Market estimates and forecast, by product, 2015 - 2025 (USD Million)
7.7.3. Market estimates and forecast, by application, 2015 - 2025 (USD Million)
7.8. Rest of the World
7.8.1. Market estimates and forecast, 2015 - 2025 (USD Million)
7.8.2. Market estimates and forecast, by product, 2015 - 2025 (USD Million)
7.8.3. Market estimates and forecast, by application, 2015 - 2025 (USD Million)
Chapter 8. Competitive Landscape
8.1. Vendor landscape analysis
8.2. Strategic framework
8.3. List of buyers
8.4. Company profiles
8.4.1. Headwall Photonics, Inc.
8.4.1.1. Company Overview
8.4.1.2. Product Benchmarking
8.4.1.3. Financial Performance
8.4.1.4. SWOT
8.4.1.5. Recent Initiatives
8.4.1.6. Future Outlook and Strategies
8.4.2. Resonon Inc.
8.4.2.1. Company Overview
8.4.2.2. Product Benchmarking
8.4.2.3. Financial Performance
8.4.2.4. SWOT
8.4.2.5. Recent Initiatives
8.4.2.6. Future Outlook and Strategies
8.4.3. Specim, Spectral Imaging Ltd.
8.4.3.1. Company Overview
8.4.3.2. Product Benchmarking
8.4.3.3. Financial Performance
8.4.3.4. SWOT
8.4.3.5. Recent Initiatives
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8.4.3.6. Future Outlook and Strategies
8.4.4. imec
8.4.4.1. Company Overview
8.4.4.2. Product Benchmarking
8.4.4.3. Financial Performance
8.4.4.4. SWOT
8.4.4.5. Recent Initiatives
8.4.4.6. Future Outlook and Strategies
8.4.5. Surface Optics Corporation
8.4.5.1. Company Overview
8.4.5.2. Product Benchmarking
8.4.5.3. Financial Performance
8.4.5.4. SWOT
8.4.5.5. Recent Initiatives
8.4.5.6. Future Outlook and Strategies
8.4.6. Norsk Elektro Optikk A S (NEO)
8.4.6.1. Company Overview
8.4.6.2. Product Benchmarking
8.4.6.3. Financial Performance
8.4.6.4. SWOT
8.4.6.5. Recent Initiatives
8.4.6.6. Future Outlook and Strategies
8.4.7. Corning Incorporated
8.4.7.1. Company Overview
8.4.7.2. Product Benchmarking
8.4.7.3. Financial Performance
8.4.7.4. SWOT
8.4.7.5. Recent Initiatives
8.4.7.6. Future Outlook and Strategies
8.4.8. ITRES
8.4.8.1. Company Overview
8.4.8.2. Product Benchmarking
8.4.8.3. Financial Performance
8.4.8.4. SWOT
8.4.8.5. Recent Initiatives
8.4.8.6. Future Outlook and Strategies
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8.4.9. Telops
8.4.9.1. Company Overview
8.4.9.2. Product Benchmarking
8.4.9.3. Financial Performance
8.4.9.4. SWOT
8.4.9.5. Recent Initiatives
8.4.9.6. Future Outlook and Strategies
8.4.10. BaySpec, Inc.
8.4.10.1. Company Overview
8.4.10.2. Product Benchmarking
8.4.10.3. Financial Performance
8.4.10.4. SWOT
8.4.10.5. Recent Initiatives
8.4.10.6. Future Outlook and Strategies
8.4.11. Brimrose Corporation
8.4.11.1. Company Overview
8.4.11.2. Product Benchmarking
8.4.11.3. Financial Performance
8.4.11.4. SWOT
8.4.11.5. Recent Initiatives
8.4.11.6. Future Outlook and Strategies
8.4.12. ZOLIXINSTRUMENTS CO., LTD
8.4.12.1. Company Overview
8.4.12.2. Product Benchmarking
8.4.12.3. Financial Performance
8.4.12.4. SWOT
8.4.12.5. Recent Initiatives
8.4.12.6. Future Outlook and Strategies
8.4.13. Shenzhen Wayho Technology Ltd
8.4.13.1. Company Overview
8.4.13.2. Product Benchmarking
8.4.13.3. Financial Performance
8.4.13.4. SWOT
8.4.13.5. Recent Initiatives
8.4.13.6. Future Outlook and Strategies
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Hexa Research is a market research and consulting organization, offering industry reports, custom research
and consulting services to a host of key industries across the globe. We offer comprehensive business
intelligence in the form of industry reports which help our clients obtain clarity about their business
environment and enable them to undertake strategic growth initiatives.
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