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Hyperspectral Imaging Market by Key Players Corning, Specim, Spectral Imaging, Ximea, Applied Spectral Imaging, Imec
Hyperspectral Imaging Market
Furthermore, its rising applications in military surveillance are driving the market as it gives differentiation between man-made materials and natural surrounding and is also used to avoid airborne surveillance by studying the surrounding conditions.
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Technological advancements in the design of the sensors and cameras also support the growth of the hyperspectral imaging market. The manufacturing of the compact, lightweight, and low-cost peripheral devices that are used in industrial applications is propelling the market.
Agriculture, military surveillance, chemical imaging, environmental monitoring, food and beverages processing, and remote sensing are the major applications of the hyperspectral imaging market. The adoption of the hyperscale imaging in the agriculture sector is estimated to increase substantially during the forecast period. The growth of the market is propelled by the growing adoption of the hyperspectral imaging in acquiring the images of crops for monitoring their development.
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North America leads the market due to the early adoption of the technology in the region. The research & development activities in the region also support the market growth. In 2016, around USD 27 billion were spent on R&D in medical technology globally, of which around 30% to 35% investments were done by North America.
The Asia Pacific is estimated to become the most lucrative market due to the increasing number of manufacturing units in the region. The declining price of the semiconductor devices in the region also drives the market growth.
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The prominent vendors in hyperspectral imaging market are Headwall Photonics, Corning, Specim, Spectral Imaging, Resonon, Ximea, Telops, Brandywine photonics, Norsk Elektro Optikk, Applied Spectral Imaging, BaySpec, Imec, Surface Optics, and ChemImage.
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