Hyperspectral Imaging Systems Market by Component (Hyperspectral Cameras, Accessories), Application (Military Surveillance, Remote Sensing, Machine Vision/Optical Sorting, Life Sciences & Medical Diagnostics) - Global Forecast to 2021

The global hyperspectral imaging systems market is projected to reach USD 12.71 Billion by 2021 from USD 7.41 Billion in 2016, at a CAGR of 11.4% during the forecast period. The base year considered for the study is 2015 and the forecast for the market size is provided for the period between 2016 and 2021.

This report aims to estimate the market size and future growth potential of the global hyperspectral imaging systems market across different segments such as component, application and geography. Factors such as technological innovation in sensor design, increased adoption of hyperspectral imaging systems in research, broadening utility in a wide range of applications ranging from military research to civil/industrial monitoring, and manufacturing of low-cost cameras that are lightweight and compact. However, high cost of hyperspectral cameras and the complexity in processing and analyzing the high amounts of imaging data generated are restraining the growth of this market.

Research Methodology

This study estimates the hyperspectral imaging systems market size for 2016 and projects its demand till 2021. Primary and secondary research was used to for market estimation and forecast. Various secondary sources such as directories, industry journals, and databases have been used to identify and collect information useful for this extensive commercial study of the hyperspectral imaging systems market. Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess prospects of the hyperspectral imaging systems market. For market engineering process both top-down and bottom-up approaches and several data triangulations were used for market estimation and market forecasting for the overall market segments and sub-segments of hyperspectral imaging systems market. All possible factors that affect the market included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was combined and added with detailed inputs and analysis from MarketsandMarkets and presented in this report. The breakdown of the profiles of primaries is depicted in the figure below:

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Key players operating in the hyperspectral imaging systems market include Headwall Photonics, Inc. (U.S.), Corning Incorporated (U.S.), SPECIM, Spectral Imaging Ltd. (Finland), Resonon (U.S.), Telops (Canada), Norsk Elektro Optikk AS (Norway), Applied Spectral Imaging (U.S.), BaySpec Inc. (U.S.), Surface Optics Corporation (U.S.), and ChemImage Corporation (U.S.).

Key Target Audience:

• Hyperspectral imaging system providers
• Original equipment manufacturers (OEMs)
• Research organizations & consulting firms
• Technology standards organizations
• Alliances & associations related to HSI technology
• Venture capitalists & investors

 Scope of the Report

• This study covers the global and regional market for hyperspectral imaging systems—by component, application, and region

Hyperspectral Imaging Systems Market, by Component

• Hyperspectral Cameras
• Accessories

Hyperspectral Imaging Systems, by Application

• Military Surveillance
• Remote Sensing
• Machine Vision/Optical Sorting
• Life Sciences & Medical Diagnostics
• Other Applications (Colorimetry, Meteorology, Thin Film Manufacturing, and Night Vision)

Hyperspectral Imaging Systems Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific
  • Japan
  • China
  • India
  • Rest of Asia-Pacific (RoAPAC)
• Rest of the World (RoW)

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company‘s specific needs. The following customization options are available for the report:

Geographic Analysis

• Further breakdown of the European hyperspectral imaging systems market into Germany, France, the U.K., Italy, and Spain
• Further breakdown of the APAC hyperspectral imaging systems market into India, China, and Japan.

Company Information

• Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 12)
    1.1 Objectives of the Study
    1.2 Market Definition
           1.2.1 Markets Covered
           1.2.2 Years Considered for the Study
    1.3 Currency
    1.4 Limitations
    1.5 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Market Size Estimation
    2.2 Market Breakdown and Data Triangulation
    2.3 Assumptions for the Study

3 Executive Summary (Page No. - 22)
    3.1 Introduction
    3.2 Conclusion

4 Premium Insights (Page No. - 26)
    4.1 Global Hyperspectral Imaging Systems: Market Overview
    4.2 Global Hyperspectral Imaging Systems Market Size, By Component, 2016 to 2021 (USD Billion)
    4.3 Global Hyperspectral Imaging Systems Market Size, By Application, 2016 to 2021
    4.4 Global Hyperspectral Imaging Systems Market: Geographic Snapshot

5 Market Overview (Page No. - 29)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Market Drivers
                    5.2.1.1 Growing Number of Research Projects Using Hyperspectral Imaging Techniques
                    5.2.1.2 Widening Industrial Applications of Hyperspectral Imaging
           5.2.2 Market Restraint
                    5.2.2.1 High Costs Associated With the Use of Hyperspectral Imaging
           5.2.3 Market Opportunity
                    5.2.3.1 Untapped Market Opportunities in Emerging Countries
           5.2.4 Market Challenge
                    5.2.4.1 Attaining Super-Resolution in A Cost-Effective Manner
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of New Entrants
           5.3.2 Threat of Substitutes
           5.3.3 Bargaining Power of Suppliers
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry

6 Global Hyperspectral Imaging Systems Market, By Component (Page No. - 36)
    6.1 Introduction
    6.2 Hyperspectral Cameras
    6.3 Accessories

7 Global Hyperspectral Imaging Systems Market, By Application (Page No. - 43)
    7.1 Introduction
    7.2 Military Surveillance
    7.3 Remote Sensing
    7.4 Machine Vision/Optical Sorting
    7.5 Life Sciences and Medical Diagnostics
    7.6 Other Applications

8 Global Hyperspectral Imaging Systems Market, By Region (Page No. - 54)
    8.1 Introduction
    8.2 North America
           8.2.1 U.S.
           8.2.2 Canada
    8.3 Europe
           8.3.1 Germany
           8.3.2 France
           8.3.3 U.K.
           8.3.4 Spain
           8.3.5 Italy
           8.3.6 Rest of Europe (RoE)
    8.4 Asia-Pacific (APAC)
           8.4.1 China
           8.4.2 Japan
           8.4.3 India
           8.4.4 Rest of Asia-Pacific (RoAPAC)
    8.5 Rest of the World (RoW)

9 Competitive Landscape (Page No. - 79)
    9.1 Overview
    9.2 Market Analysis
           9.2.1 Introduction
    9.3 Competitive Situation and Trends
           9.3.1 Product Launches and Approvals
           9.3.2 Partnerships and Agreements
           9.3.3 Expansions
           9.3.4 Acquisitions

10 Company Profiles (Page No. - 86)
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, MnM View)*
     10.1 Headwall Photonics, Inc.
     10.2 Corning Incorporated
     10.3 Specim, Spectral Imaging Ltd.
     10.4 Resonon
     10.5 Telops Inc.
     10.6 Norsk Elektro Optikk as
     10.7 Applied Spectral Imaging
     10.8 Bayspec Inc.
     10.9 Surface Optics Corporation
     10.10 Chemimage Corporation

*Details on Marketsandmarkets View, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 100)
     11.1 Insights of Industry Experts
     11.2 Discussion Guide
     11.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.4 Introducing RT: Real-Time Market Intelligence
     11.5 Available Customization
     11.6 Related Report
     11.7 Author Details

List of Tables (68 Tables)

Table 1 Hyperspectral Imaging Systems Market Size Snapshot
Table 2 Global Hyperspectral Imaging Systems Market Size, By Component, 2014–2021 (USD Million)
Table 3 Global Hyperspectral Cameras Market Size, By Region, 2014–2021 (USD Million)
Table 4 North America: Hyperspectral Cameras Market Size, By Country, 2014–2021 (USD Million)
Table 5 Europe: Hyperspectral Cameras Market Size, By Country, 2014–2021 (USD Million)
Table 6 Asia-Pacific: Hyperspectral Cameras Market Size, By Country, 2014–2021 (USD Million)
Table 7 Global Hyperspectral Imaging Systems Accessories Market Size, By Region, 2014–2021 (USD Million)
Table 8 North America: Hyperspectral Imaging Systems Accessories Market Size, By Country, 2014–2021 (USD Million)
Table 9 Europe: Hyperspectral Imaging Systems Accessories Market Size, By Country, 2014–2021 (USD Million)
Table 10 Asia-Pacific: Hyperspectral Imaging Systems Accessories Market Size, By Country, 2014–2021 (USD Million)
Table 11 Global Hyperspectral Imaging Systems Market Size, By Application, 2014–2021 (USD Million)
Table 12 Global Hyperspectral Imaging Systems Market Size for Military Surveillance, By Region, 2014–2021 (USD Million)
Table 13 North America: Hyperspectral Imaging Systems Market Size for Military Surveillance, By Country, 2014–2021 (USD Million)
Table 14 Europe: Hyperspectral Imaging Systems Market Size for Military Surveillance, By Country, 2014–2021 (USD Million)
Table 15 Asia-Pacific: Hyperspectral Imaging Systems Market Size for Military Surveillance, By Country, 2014–2021 (USD Million)
Table 16 Global Hyperspectral Imaging Systems Market Size for Remote Sensing, By Region, 2014–2021 (USD Million)
Table 17 North America: Hyperspectral Imaging Systems Market Size for Remote Sensing, By Country, 2014–2021 (USD Million)
Table 18 Europe: Hyperspectral Imaging Systems Market Size for Remote Sensing, By Country, 2014–2021 (USD Million)
Table 19 Asia-Pacific: Hyperspectral Imaging Systems Market Size for Remote Sensing, By Country, 2014–2021 (USD Million)
Table 20 Global Hyperspectral Imaging Systems Market Size for Machine Vision/Optical Sorting, By Region, 2014–2021 (USD Million)
Table 21 North America: Hyperspectral Imaging Systems Market Size for Machine Vision/Optical Sorting, By Country, 2014–2021 (USD Million)
Table 22 Europe: Hyperspectral Imaging Systems Market Size for Machine Vision/Optical Sorting, By Country, 2014–2021 (USD Million)
Table 23 Asia-Pacific: Hyperspectral Imaging Systems Market Size for Machine Vision/Optical Sorting, By Country, 2014–2021 (USD Million)
Table 24 Global Hyperspectral Imaging Systems Market Size for Life Sciences and Medical Diagnostics, By Region, 2014–2021 (USD Million)
Table 25 North America: Hyperspectral Imaging Systems Market Size for Life Sciences and Medical Diagnostics, By Country, 2014–2021 (USD Million)
Table 26 Europe: Hyperspectral Imaging Systems Market Size for Life Sciences and Medical Diagnostics, By Country, 2014–2021 (USD Million)
Table 27 Asia-Pacific: Hyperspectral Imaging Systems Market Size for Life Sciences and Medical Diagnostics, By Country, 2014–2021 (USD Million)
Table 28 Global Hyperspectral Imaging Systems Market Size for Other Applications, By Region, 2014–2021 (USD Million)
Table 29 Global Hyperspectral Imaging Systems Market Size, By Region, 2014-2021 (USD Million)
Table 30 North America: Hyperspectral Imaging Systems Market Size, By Country, 2014-2021 (USD Million)
Table 31 North America: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 32 North America: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 33 U.S.: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 34 U.S.: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 35 Canada: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 36 Canada: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 37 Europe: Hyperspectral Imaging Systems Market Size, By Country, 2014-2021 (USD Million)
Table 38 Europe: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 39 Europe: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 40 Germany: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 41 Germany: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 42 France: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 43 France: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 44 U.K.: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 45 U.K.: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 46 Spain: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 47 Spain: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 48 Italy: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 49 Italy: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 50 RoE: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 51 RoE: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 52 Asia-Pacific: Hyperspectral Imaging Systems Market Size, By Country, 2014-2021 (USD Million)
Table 53 Asia-Pacific: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 54 Asia-Pacific: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 55 China: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 56 China: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 57 Japan: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 58 Japan: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 59 India: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 60 India: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 61 RoAPAC: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 62 RoAPAC: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 63 RoW: Hyperspectral Imaging Systems Market Size, By Component, 2014-2021 (USD Million)
Table 64 RoW: Hyperspectral Imaging Systems Market Size, By Application, 2014-2021 (USD Million)
Table 65 Product Launches and Approvals (2013–2016)
Table 66 Partnerships and Agreements (2013-2016)
Table 67 Expansions (2013–2016)
Table 68 Acquisitions (2013-2016)

List of Figures (28 Figures)

Figure 1 Research Design
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Data Triangulation Methodology
Figure 6 Key Data From Secondary Sources
Figure 7 Key Data Points From Primary Sources
Figure 8 Global Hyperspectral Imaging Systems Market Size, By Component, 2016 to 2021 (USD Million)
Figure 9 Global Hyperspectral Imaging Systems Market Size, By Application, 2016 to 2021 (USD Million)
Figure 10 Geographical Snapshot of the Global Hyperspectral Imaging Systems Market
Figure 11 Major Factors Driving the Growth of the Global Hyperspectral Imaging Systems Market
Figure 12 Hyperspectral Cameras to Account for the Largest Market Share in 2016
Figure 13 Life Sciences & Medical Diagnostics Segment to Witness Highest Growth During the Forecast Period
Figure 14 Asia-Pacific to Record the Highest CAGR During the Forecast Period
Figure 15 Global Hyperspectral Imaging Systems Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Hyperspectral Cameras to Dominate the Global Hyperspectral Imaging Systems Market, By Component, 2016 to 2021 (USD Million)
Figure 17 North America Dominated the Global Hyperspectral Cameras Market in 2016 (USD Million)
Figure 18 North America Dominated the Global Hyperspectral Imaging Systems Accessories Market in 2016 (USD Million)
Figure 19 Global Hyperspectral Imaging Systems Market, By Application, 2016 to 2021 (USD Million)
Figure 20 North America: Hyperspectral Imaging Systems Market Snapshot
Figure 21 Europe: Hyperspectral Imaging Systems Market Snapshot
Figure 22 Asia-Pacific: Hyperspectral Imaging Systems Market Snapshot
Figure 23 RoW: Hyperspectral Imaging Systems Market Snapshot
Figure 24 Key Developments in the Hyperspectral Imaging Systems Market, By Company (2013–2016)
Figure 25 Market Evolution Framework: Partnerships, Agreements, Contracts, and Collaborations are Fueling the Market Growth
Figure 26 Battle for Market Share: Product Launches & Approvals Was the Key Growth Strategy Adopted By Market Players Between 2013 & 2016
Figure 27 Application Mix of the Top 5 Players in the Global Hyperspectral Imaging Systems Market
Figure 28 Company Snapshot: Corning Incorporated

The global hyperspectral imaging systems market is projected to reach USD 12.71 Billion by 2021 from USD 7.41 Billion in 2016, growing at a CAGR of 11.4% from 2016 to 2021. A number of factors, such as growing number of research projects using hyperspectral imaging techniques and widening industrial applications of HSI are driving the growth of this market. However, the high cost associated with the use of hyperspectral imaging technology is expected to restrain the growth of this market in the coming years.

The hyperspectral imaging systems market is segmented on the basis of component, application, and region. On the basis of component, the market is segmented into hyperspectral cameras and accessories. A hyperspectral camera consist of an HSI imaging sensor and imaging spectrograph. Advances in sensor development and computing power, along with the availability of low-cost cameras with widening industrial applications are boosting the growth of this market.

On the basis of application, the market is into military surveillance, remote sensing, machine vision/ optical sorting, life sciences & medical diagnostics, and other applications (colorimetry, meteorology, thin film manufacturing, and night vision). The life sciences & medical diagnostics segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the advancements in hyperspectral cameras and accuracy of image data & analysis.

The hyperspectral imaging systems market is segmented into four major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America is expected to account for the largest share of the global market. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The market for hyperspectral imaging systems is expected to grow in emerging economies in APAC as they have a growing number of manufacturing bases. These cameras are used for homeland surveillance, spaceborne applications, agriculture and mineral surveillance, and other research activities requiring constant spectral vigilance.

Headwall Photonics, Inc. (U.S.), Corning Incorporated (U.S.), SPECIM, Spectral Imaging Ltd. (Finland), Resonon (U.S.), Telops (Canada), Norsk Elektro Optikk AS (Norway), Applied Spectral Imaging (U.S.), BaySpec Inc. (U.S.), Surface Optics Corporation (U.S.), and ChemImage Corporation (U.S.) are some of the key players in the hyperspectral imaging systems market.

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