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Hyperspectral Imaging Market Overview, Growth, Trends, Demand Forecast Report
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The manufacturing of low cost camera, which are compact and lightweight, is also driving the growth of the market. Based on component, the hyperspectral camera segment is expected to account larger share of the market, due to increasing adoption of hyperspectral technology in defense and commercial applications, technological advancement and development of affordable hyperspectral imaging camera. Moreover, based on application, the life sciences and medical diagnostics is expected to grow at fastest rate during the forecasted period, due to accuracy of image data and analysis and advancement in hyperspectral cameras.
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The rapid growth in emerging economies is expected to create opportunity for the manufacturers of hyperspectral imaging products. However, high cost associated with the use of hyperspectral imaging, lack of skilled professionals, lack of awareness, and analyzing the high amount of imaging data generated are the key factors hampering the growth of the global market.
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Globally, the hyperspectral imaging market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to the increasing number of research projects, increasing healthcare awareness, mining explorations, and environmental testing.
The key players operating in the global hyperspectral imaging market are Headwall Photonics Inc., Corning Incorporated, Resonon, Telops Inc., Norsk Elektro Optikk AS, Bayspec Inc., Surface Optics Corporation, Applied Spectral imaging, and Chemimage Corporation.
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