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Hyperspectral Imaging Market to Witness The Fastest Growth Over 2019 - 2025

Author : Ronak Bora | Published Date : 2019-06-07 

The Hyperspectral Imaging Market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.

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. However, a major hindrance to the growth of market is the relative complexity in analyzing and processing excessive amounts of imaging data gathered using hyperspectral imaging system. Moreover, the high cost of cameras is another challenge for the market growth, which can be overcome by advancements in technologies.

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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 hyperspectral imaging market is propelled by the growing adoption of the hyperspectral imaging in acquiring the images of crops for monitoring their development. Furthermore, it is also used to gather information regarding climatic conditions and maintain the health of specific crops. 

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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North America leads the hyperspectral imaging 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 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. Product development and innovations are the primary strategies used by the market players to gain the market share and expand the product portfolio.

For instance, in January 2018, Imec introduced ‘Snapscan’, the first camera having benefits of line scan (featured with high-speed image quality) and snapshot technologies based on the hyperspectral imaging. In January 2018, Specim introduced ‘Specim IQ’, the new generation portable camera featuring an inbuilt scanner, touch-screen interface, and on-board processing.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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