Hyperspectral Imaging Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR44344
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The hyperspectral imaging market has the potential to grow by USD 278.53 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 17.23%.

This hyperspectral imaging market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (military and surveillance, healthcare, food and agriculture, remote sensing, and other applications) and geography (North America, Europe, APAC, South America, and MEA). The hyperspectral imaging market report also offers information on several market vendors, including BaySpec Inc., Corning Inc., Cubert GmbH, Gooch and Housego Plc, Headwall Photonics Inc., HyperMed Imaging Inc., Konica Minolta Inc., Norsk Elektro Optikk AS, Resonon Inc., and Telops Inc. among others.

What will the Hyperspectral Imaging Market Size be in 2021?

Hyperspectral-Imaging-Market-Market-Size-2020-2025

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Hyperspectral Imaging Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing use of night vision cameras is notably driving the hyperspectral imaging market growth, although factors such as high capital investment may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hyperspectral imaging industry. The holistic analysis of the drivers will help in predicting end goals and refining marketing strategies to gain a competitive edge.

This hyperspectral imaging market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Hyperspectral Imaging Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • BaySpec Inc.
  • Corning Inc.
  • Cubert GmbH
  • Gooch and Housego Plc
  • Headwall Photonics Inc.
  • HyperMed Imaging Inc.
  • Konica Minolta Inc.
  • Norsk Elektro Optikk AS
  • Resonon Inc.
  • Telops Inc.

 

The vendor landscape of the hyperspectral imaging market entails successful business strategies deployed by the vendors. The hyperspectral imaging market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the hyperspectral imaging market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Hyperspectral Imaging Market?

Hyperspectral-Imaging-Market-Market-Share-by-Region-2020-2025

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37% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for hyperspectral imaging in APAC. 

The report offers an up-to-date analysis of the geographical composition of the market. APAC has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. The increasing number of medical diseases will facilitate the hyperspectral imaging market growth in APAC over the forecast period. The report offers an up-to-date analysis of the geographical composition of the market, competitive intelligence, and regional opportunities in store for vendors.

What are the Revenue-generating Application Segments in the Hyperspectral Imaging Market?

Hyperspectral-Imaging-Market-Market-Share-by-Application-2020-2025

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The hyperspectral imaging market share growth by the military and surveillance segment has been significant. This report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2021-2025 and embrace technologies to improve business efficiency.

This report provides an accurate prediction of the contribution of all the segments to the growth of the hyperspectral imaging market size. Furthermore, our analysts have indicated actionable market insights on post COVID-19 impact on each segment, which is crucial to predict change in consumer demand.

 

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What are the Key Factors Covered in this Hyperspectral Imaging Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive hyperspectral imaging market growth during the next five years
  • Precise estimation of the hyperspectral imaging market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hyperspectral imaging market across North America, Europe, APAC, South America, and MEA 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hyperspectral imaging market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The hyperspectral imaging market growth will increase by $568.86 million during 2019-2024.
The hyperspectral imaging market is expected to grow at a CAGR of 14.71% during 2019-2024.
Technavio has segmented the hyperspectral imaging market by application (Military and surveillance, Healthcare, Food and agriculture, Remote sensing, and Other applications) and geographic (North America, APAC, Europe, South America, and MEA).
BaySpec Inc., Corning Inc., Cubert GmbH, Gooch & Housego Plc, Headwall Photonics Inc., Norsk Elektro Optikk AS, Resonon Inc., Specim, Spectral Imaging Ltd., Spectris Plc, Telops are a few of the key vendors in the hyperspectral imaging market.
APAC will register the highest growth rate of 37.17% among the other regions. Therefore, the hyperspectral imaging market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Japan
  • Germany
  • South Korea (Republic of Korea)
The key factors driving the hyperspectral imaging market growth are:
  • Increasing use of night vision cameras
  • Growing number of research projects using hyperspectral imaging techniques
The hyperspectral imaging market vendors should focus on grabbing business opportunities from the military and surveillance segment as it accounted for the largest market share in the base year.
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