Hyperspectral Imaging Market by Technology Advancements, Demand and Global Outlook 2021 to 2026

Global Hyperspectral Imaging Market 2021-2026 is a comprehensive report which provides a detailed overview of the major driver, opportunities, challenges, current Market trends and strategies impacting the Global Hyperspectral Imaging Market in conjunction with calculation and forecast of size, share, and growth rate analysis. Combining the analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the Hyperspectral Imaging Market all told its geographical and merchandise segments.

The global hyperspectral imaging market (henceforth referred to as the market studied or the HSI market) was valued at USD 144.61 million in 2020, and it is expected to reach a value of USD 322.88 million by 2026 while registering a CAGR of 14.88% during the period of 2021-2026.

The Global Hyperspectral Imaging Market is highly competitive and consists of a number of major players. Companies like Bayspec Inc., Specim Spectral Imaging Ltd, Corning Incorporated, Surface Optics Corporation, Headwall Photonics Inc., Resonon Inc., HyperMed Imaging Inc., Norsk Elektro Optikk AS, Cubert GmbH, XIMEA GmbH, HinaLea Imaging (TruTag Technologies Inc.) among others.

Key Developments:

- In February 2020 - IMEC introduced three new hyperspectral imaging systems outside the lab. Researchers from the Palo Alto Research Center (PARC) are also active in this space and are engineering hyperspectral imaging technology to be lightweight, programmable, and inexpensive for widespread use. Such instances suggest that the emphasis on mobile devices may increase over the forecast period.
- In January 2020 - Specim Spectral Imaging Ltd launched Specim AFX10, which is a compact and complete solution for lightweight hyperspectral imaging that can be mounted, for example, on a drone.

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Scope of the Report:

Hyperspectral imaging (HSI) is a set of activities via which images are captured, and spectral radiance values are assigned to each pixel through various wavelengths of the electromagnetic spectrum under visible and infrared regions. Sensors provide information on hundreds of narrow wavelength bands of the composite. The pixels are sorted and characterized using statistical analysis with the help of a software classifying among the groups of pixels.
The current hyperspectral imaging technology is complemented by powerful sensors capable of covering large surfaces of the earth with exceptional spatial, spectral, and temporal resolutions. The technology is effectively used in numerous remote sensing applications that require the estimation of physical parameters of many complex surfaces and identification of visually similar materials having fine spectral signatures due to such features.

Key Market trends:

Defense to be the Fastest Growing Segment

- The defense industry faces a variety of challenges daily, and many of the problems need to be countered with the latest technologies. The lack of such latest technologies indirectly leads to the vulnerability of the entity. The defense sector has particularly invested in the acquisition of the latest technologies.
- The total military budget around the world was estimated to be around USD 1.8 trillion, which is an approximate increase of 2.6% compared to the previous global military budget in 2017. Such an increase in the budget is expected to create opportunities for many such innovations to be implemented in the domain.
- Moreover, in 2019, the National Reconnaissance Office, an agency of the United States Department of Defense, awarded its hyperspectral imaging study contract to HySpecIQ. As per the National Reconnaissance Office, HySpecIQ is developing new hyperspectral imaging capabilities that can potentially contribute to its current and future overhead architecture.
- Defense environments are extensively using unmanned aerial vehicles (UAVs) to improve aerial and ground reconnaissance activities, and this is where HSI technologies find applications. Aerial vehicles have been in rising demand over recent years.

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The key insights of the Hyperspectral Imaging Market report:

The report provides key statistics on the Market Status of the Hyperspectral Imaging Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
The Hyperspectral Imaging Market report presents the company profile, product specifications, capacity, production value, and 2015-2021 Market shares for key vendors.
The total Market is further divided by company, by country, and by application/type for the competitive landscape analysis.
The report estimates 2021-2026 Market development trends of Hyperspectral Imaging Market .
Analysis of upstream raw materials, downstream demand and current Market dynamics is also carried out
The report makes some important proposals for a new project of Hyperspectral Imaging Industry before evaluating its feasibility.

Finally, Hyperspectral Imaging Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. Automotive Actuators industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

Key points in this report:

– The Market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

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