Hyperspectral Imaging Systems Market Dynamics and Trends Report

Hyperspectral Imaging Systems Industry Overview

The global hyperspectral imaging systems market size was estimated at USD 14.13 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2030. The rising adoption of hyperspectral imagery systems in various sectors, such as R&D, healthcare, defense, food industry, night vision, and remote sensing, is anticipated to create high demand in the market. In addition, technological advancements, such as sensor design, high spectral resolution, high spatial resolution, and compact & lightweight devices, are anticipated to further boost product adoption. For instance, Pixxel launched its third hyperspectral imaging satellite, which was mounted on the Polar Satellite Launch Vehicle (PSLV) in November 2022.

Gather more insights about the market drivers, restrains and growth of the Hyperspectral Imaging Systems Market

Hyperspectral imaging systems characterization involves assessing various aspects of their performance, capabilities, and specifications. This process typically includes spectral range, spectral resolution, temporal resolution, and many other factors. In comparison to traditional imaging and detection methods, hyperspectral imaging enhances sensitivity and differencing capability by integrating digital imaging with spectroscopy. The growing adoption of this technology is primarily attributed to its clarity and precision. Moreover, hyperspectral imaging devices offer several key benefits, including the ability to analyze spectral data at each point without prior knowledge. Furthermore, it provides comprehensive information for image analysis and processing. Owing to these advantages, this technology is attracting investments from many companies. However, high hyperspectral imaging system prices and lack of standardization and interoperability of this system may hinder market growth.

The growing application scope of hyperspectral imaging, such as the detection of rock minerals, the diagnosis of plant diseases in crops, diagnostic imaging, and the detection of foreign toxins in food processing are expected to boost its adoption. In addition, the applications of hyperspectral imaging are particularly increasing in the field of disease diagnosis and image-guided surgeries. The market is anticipated to grow at a significant rate, as hyperspectral imaging offers strong potential for disease screening, detection, and diagnosis due to its ability to recognize biochemical modifications brought on by the development of diseases, such as changes in cancer cell metabolism.

In January 2023, Imec demonstrated a system that combines a Visible and Near Infrared (VIS-NIR) spectral camera with high-resolution RGB imaging for data acquisition at video rate. The camera offers three sensors, which are integrated into a single housing. The camera is also equipped with a standard F-mount lens. This is expected to help users opt for a suitable sensor and compare the pros and cons of different spectral resolutions and ranges without needing to own numerous gadgets. The camera can provide support in uncontrollably dynamic scenarios including medical situations such as image-assisted surgeries.

Browse through Grand View Research's Medical Devices Industry Research Reports.

• The global lower extremity implants market size was estimated at USD 13.2 billion in 2023 and is projected to grow at a CAGR of 2.96% from 2024 to 2030. The growing penetration of robots in orthopedic procedures is accelerating market growth.

• The global pressure monitoring market size was estimated at USD 11.6 billion in 2023 and is projected to grow at a CAGR of 8.4% from 2024 to 2030. The increasing prevalence of chronic diseases, such as hypertension, cardiovascular diseases, and respiratory disorders, has significantly boosted the demand for pressure monitoring devices.

Key Companies profiled:

• Corning Inc.

• Specim

• Spectral Imaging Ltd.

• Resonon Inc.

• Headwall Photonics

• Telops

• Norsk Elektro Optikk

• Surface Optics Corporation

• BaySpec, Inc.

• HAIP Solutions GmbH

• XIMEA GmbH

• imec

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Recent Developments

• In January 2024, Specim, Spectral Imaging Ltd. entered into a partnership with GEONA hyperspectral. Specim proudly endorses GEONA as its preferred standalone processing solution for the complete range of SPECIM airborne hyperspectral sensors

• In April 2023, Headwall Photonics and K8 announced Aermatica3D srl as an authorized, official reseller of their remote sensing products in Italy. Leveraging Aermatica3D's engineering expertise, the company is capable of developing custom solutions tailored for companies, professional firms, and research institutes

• In June 2022, Resonon Inc. announced the launch of its Pika IR-L and IR-L+ hyperspectral cameras (925 - 1700 nm). These instruments boast impressive spectral and spatial resolution, which, when combined with their compact size and lightweight, render them ideal for UAV-based remote sensing applications