The global Hyper Spectral Imaging Systems (HSI) market reached a value of US$ 16.7 billion in 2021. Looking ahead, the market is expected to reach $ 16.2 billion by 2027, growing at a CAGR of 18.9% between 2022 and 2027.
Hyperspectral imaging technologies are used to capture tiny spectral bands over a wide spectral range. The market's expansion can be largely ascribed to elements like rising funding and investments in this area and the expanding number of industrial uses for hyperspectral imaging. Additionally, during the anticipated period, participants in this market should have development prospects due to the untapped market potential in emerging markets. Hyperspectral imaging systems are projected to be less widely adopted during the forecast period as a result of their high costs and problems with data storage.
One of the important reasons driving market expansion is the expanding medical and healthcare industry, as well as the increasing utilization of medical imaging systems. By examining the make-up and physiology of the body's tissues and cells, hyperspectral imaging devices are frequently used for the diagnosis and treatment of numerous disorders. It is also used to track the development of various chronic conditions and look for the presence of malignant cells. A further element driving expansion is the expanding use of sophisticated imaging systems in unmanned aerial vehicles (UAVs).
22 January 2020: imec introduces three new hyperspectral imaging systems outside the lab --
Leading research and innovation hub in nanoelectronics and digital technologies, imec, will be showcasing its latest innovative technologies in the field of imaging and sensors industry at the upcoming SPIE Photonics West 2020 and ITF Photonics 2020 events. The events will be held side by side, with the SPIE Photonics West taking place from 01- 06 February in San Francisco, and the ITF Photonics 2020 happening on 03 February in the same city.
Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
By Application, it is segmented into
North America accounted for 48.3% of worldwide sales in 2021 and is predicted to maintain its lead throughout the projection period. A favourable regulatory framework, particularly in the US, is blamed for this. In addition to early and consistent involvement with the sponsor and unique regulatory designations helpful for many CGTs, the U.S. FDA has established a collaborative regulatory method for CGTs. Additionally, the U.S. regulatory approval procedure is expanding and becoming more advantageous for vendors creating CGT products. To speed up the approval procedure, the U.S. FDA has given CGTs the orphan drug category, breakthrough designation, accelerated approvals, and RMAT designations. The region with the fastest CAGR during the forecast period is Asia Pacific. Regenerative medicine-focused biotechnology companies are becoming more prevalent in the Asia Pacific region. Furthermore, the area is expected to continue to hold its position as the hub of cell research and therapy thanks to the steady expansion of destinations for medical tourists including Thailand, Singapore, and India.
The Hyper Spectral Imaging Systems (HSI) Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Hyper Spectral Imaging Systems (HSI) Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 18.9% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | Corning Incorporated, Headwall Photonics, Inc., Specim, Spectral Imaging Ltd., Norsk Elektro Optikk as (NEO), Resonon, Inc., Telops, Applied Spectral Imaging, Bayspec, Inc., Surface Optics Corporation, Chemimage Corporation, Cubert GmbH, Raytheon, Galileo Group, Inc., Hypermed Imaging, Inc., Inno-Spec, Camlin Group Ltd., IMEC, XIMEA GmbH, Brandywine Photonics, Cytoviva, Inc., Diaspective Vision, Gamaya, Hinalea Imaging, Orbital Sidekick, Photon Etc., Ximea Gmbh, Clyde Hsi, Glana Sensors Ab |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 131 |
Customization Available | Yes, the report can be customized as per your needs |
What is the growth rate of Hyper Spectral Imaging Systems (HSI) Market?
The Hyper Spectral Imaging Systems (HSI) Market is growing at a CAGR of 18.9% over the next 5 years.
Who are the key players in Hyper Spectral Imaging Systems (HSI) Market?
Corning Incorporated, Headwall Photonics, Inc., Specim, Spectral Imaging Ltd., Norsk Elektro Optikk as (NEO), Resonon, Inc., Telops, Applied Spectral Imaging, Bayspec, Inc., Surface Optics Corporation, Chemimage Corporation, Cubert GmbH, Raytheon, Galileo Group, Inc., Hypermed Imaging, Inc., Inno-Spec, Camlin Group Ltd., IMEC, XIMEA GmbH, Brandywine Photonics, Cytoviva, Inc., Diaspective Vision, Gamaya, Hinalea Imaging, Orbital Sidekick, Photon Etc., Ximea Gmbh, Clyde Hsi, Glana Sensors Ab
What are the significant types of Hyper Spectral Imaging Systems (HSI) Market?
PC Based, Outdoor Camera, Airborne, Others
What are the major end-use applications of Hyper Spectral Imaging Systems (HSI) Market?
Military Surveillance & Homeland Security, Industry, Medical Diagnostics, Food Processing, Mineralogy, Astronomy, Others
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
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MARKET ENGINEERING
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