Hyperspectral Imaging Market Analysis by End Use Industry (Mining and Mineral, Forestry and Agriculture, Infrastructure and Urban Planning, Oil & Gas, Utility and Energy, Aerospace & Defense, Environment Monitoring and Control), by Region – Global Forecast 2022-2032
According to a recently revised study by Fact.MR, the global hyperspectral imaging market is expected to reach $2 billion by the end of 2032, at a CAGR of 11.34%. The hyperspectral remote sensing market has experienced an investment boom due to the surge in demand from industrial clusters for efficient image analysis.
The outlook for hyperspectral imaging from 2017 to 2021 is largely robust, experiencing a CAGR of 10% over that historical period. With the onset of COVID-19, the outlook has set back in several applied industries, including space research. However, its scope has risen significantly, especially in the medical realm of detecting the presence of novel coronaviruses in infected patients.
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Both governments and private companies are investing heavily in the benefits of hyperspectral imaging technology. On the other hand, organizations such as NASA and ISRO are government-sponsored organizations dedicated to designing and launching hyperspectral imaging systems with finer spatial resolution for hyperspectral astronomy purposes.
Highlights of market research
- Global demand for hyperspectral imaging will be valued at USD 683 million by the end of 2022.
- Agriculture and forestry emerging as lucrative investment pockets for hyperspectral imaging
- Aerospace and defense will remain a high-growth sector with a CAGR of 14%.
- The United States will be an attractive investment destination, with sales reaching 22% by the end of 2022.
- China will experience a 12% CAGR amid high application rates for its space program.
- Extensive research in healthcare to broaden Germany’s growth prospects by registering 9% CAGR
“Rising investments in aerospace and satellites and military spending are expected to drive market demand for hyperspectral imaging technology over the next few years,” said Fact.MR analysts.
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competitive landscape
Working with manufacturers allows businesses to increase production and meet consumer demand, thereby increasing revenue and market share. New products and technologies allow end users to enjoy the benefits of organic products in nature. The results of strategic cooperation can help companies increase their production capacity.
- October 2021 CUBERT GmBH introduces the HIS-ULTRIS 5, a compact hyperspectral video imager with light field technology. The new ULTRIS 20 offers the same spectral range as its predecessor (450-850nm – VNIR) and features an 8nm sampling rate, a total of 50 bands, a 15Hz frame rate and 250 x 250 pixel resolution.
- In July 2021, Resonon launched the Pika NUV2 hyperspectral camera. This instrument scans ultraviolet light and covers the spectral range of 330 nm – 800 nm, making it the only commercially available ultraviolet imaging system. These devices will enable new research and development in a variety of fields including insect, animal, agricultural and horticultural vision and industrial quality control.
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More insights available
Fact.MR’s presents an unbiased analysis of the hyperspectral imaging market in new products and presents historical demand data from 2022 to 2032 (2017-2021) and forecast statistics.
This study provides essential insights into markets based on end-use industries (mining and minerals, forestry and agriculture, infrastructure and urban planning, oil and gas, utilities and energy, aerospace and defense, environmental monitoring and control and others). is disclosed across five fields. Key regions (North America, Latin America, Europe, Asia Pacific and Middle East and Africa).
Key Players analyzed in Hyperspectral Imaging Market Research:
- Airbus Defense and Space
- Antrix Corporation
- them
- Hanja LuftBuild AG
- L3Harris Technologies (Harris Corporation)
- hexagon AB
- Hyperspectral Solutions LLC
- Planet Labs PBC
- Saatelogic AG
- Spectier
- sanbon map company
Key Segments Covered in Hyperspectral Imaging Industry Survey
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end-use industry
- Mining and minerals
- forestry and agriculture
- Infrastructure and Urban Planning
- oil and gas
- Utilities and Energy
- Aerospace and Defense
- Environmental monitoring and control
- other industries
The report covers the following Hyperspectral Imaging market insights and assessments which are helpful to all the participants involved in the Hyperspectral Imaging market:
- Data on recently introduced regulations and their impact on key industry and on-demand hyperspectral imaging markets.
- Latest industry analysis of Hyperspectral Imaging market along with key analysis of market drivers, trends and influencing factors
- Analysis of key trends in the Hyperspectral Imaging market and changing consumer preferences in key industries.
- Changes in Hyperspectral Imaging Demand and Consumption of Various Products
- Key Trends Highlighting Funding by Leading Investors in Multiple Countries
- New investment opportunities in different technologies and types of products or services
- Comprehensive data and competitive analysis of key players in Hyperspectral Imaging
- Hyperspectral Imaging Market sales in the US will grow at a steady pace, fueled by growing consumer confidence and economic recovery.
- Europe’s Hyperspectral Imaging demand forecast remains stable as many countries such as the UK, France and Germany focus on driving growth.
Key Questions in Hyperspectral Imaging Market Research Report:
- What are the current scenarios and key trends in the Hyperspectral Imaging market industry?
- What key strategies are businesses adopting to expand their consumer base?
- What are the key categories and future potentials of the Hyperspectral Imaging market?
- What are the key Hyperspectral Imaging market drivers and what are their projected impacts in the short, medium and long term?
- What is the size of the Hyperspectral Imaging market and what are the opportunities for key players?
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