Hyper spectral imaging technique is a type of digital spectroscopy, which includes combination of various methods such as UV, nearby infrared, visible and fluorescence imaging, etc. Imaging spectrometer is used to produce hyper spectral images. The combination of digital imaging and spectroscopy, facilitates the generation of spectral based disparity in an image. Hyper spectral imaging works on the principle of spectral-based contrast. The images so obtained are at multiple wavelengths and are shaped in 3D hyper spectral data cube with one or two spectral dimensions. The success of global hyper spectral imaging market in heterogeneous applications across diverse sectors ranging from healthcare to military surveillance and rapid technological advancements are some of the major factors propelling the growth of the market. Global hyper spectral imaging market is anticipated to reach $15.77 billion by 2023 from $7.41 billion in 2016 with the CAGR of 11.4% during forecast period 2016-2023.Factors that impact the growth of market include:
- Increasing industrial applications of hyper spectral imaging
- Increasing number of research projects using hyper spectral imaging techniques
- Rising awareness about hyper spectral imaging
The hyper spectral imaging technique is used in various sectors such as military, agriculture, mining, food, life science, medical diagnostic, etc. The major factors identified, that drive the global hyper spectral imaging market are increasing awareness about hyper spectral imaging techniques among various industries. The use of hyper spectral imaging method, in food imaging could be utilized as a pattern to depict the biochemical structure of the pixel, allowing the visualization of the elements of the food sample on pixel level. The hyper spectral imaging (HSI) offers better accuracy and precise data extraction. Other drivers include increasing adoption of HSI in various medical procedures like ophthalmology, surface tissue vascular system, and mucosal membrane analysis, etc., technological advancements in HSI techniques and increasing use of hyper spectral imaging technique in various research activities is also contributing to the growth of this market. Rising adoption of hyper spectral imaging techniques in mining, medical diagnostics, and military surveillance is likely to spur the demand of global hyper spectral imaging market. However, reimbursement issues faced by the manufacturers, lack of adept professionals, high installation cost, and requirement of high initial investments and are some of the challenges hampering the growth of the global hyper spectral imaging market.
Source: OBRC Analysis
The global hyper spectral imaging market is segmented on the basis of end-users, application and components. On the basis of end user, the global hyper spectral imaging market is sub-segmented into:
- Agriculture
- Colorimetry
- Environmental testing
- Food industry
- Life science & medical diagnostics
- Mining & mineralogy
- Military surveillance
- Meteorology and machine control & process vision.
On the basis of application, the global hyper spectral imaging market is sub segmented into:
- Remote sensing
- Military surveillance
- Life sciences & medical diagnostics
- Machine vision and optical sorting
- Other applications
On the basis of component, the global hyper spectral imaging market is sub segmented into:
- Hyper spectral cameras
- Accessories
The revenue for the above industrial end-user and applications are specific to the hyper spectral imaging market. However, the total revenue of these end user and application in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up component segment.
Geographically, the global hyper spectral imaging market is segmented into:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America held the largest market share of global hyper spectral imaging market, in 2016. The major reason for high market share is presence of major manufacturers in the region with increased awareness and adoption of the HSI technology. Europe holds the second largest market share followed by Asia Pacific. However, Asia Pacific is anticipated to grow at the highest CAGR in the forecast period. China and Japan provides great opportunities in the region and is expected that the market will grow rapidly during the forecast period.
Various end-users of hyper spectral imaging include agriculture, colorimetry, environmental testing, food industry, life science & medical diagnostics, mining & mineralogy, military surveillance, meteorology and machine control & process vision. Environmental testing areas include usage of HSI for forecasting hurricanes, force winds, detect major atmospheric parameters such as ozone, air quality, temperature, to predict climatic conditions, detect environmental hazards etc. In food industry, it is used to keep a track on development of crops and monitor crops’ health too. HSI plays an important role in medical industry by enabling research and development in nano delivery of drugs, nano toxicology and is also in diagnosis of tissues during progression of disease. The military application segment dominates the global hyper spectral imaging market and accounts for the market share of approximately 19%. Also, the global hyper spectral imaging market is segmented on the basis of application segment, which is sub-segmented into remote sensing, military surveillance, life sciences & medical diagnostics, machine vision and optical sorting and other applications. Moreover, the hyper spectral imaging market is segmented on the basis on components and those components are hyper spectral cameras and accessories. Snapshot sensors can identify and detect the objects in various applications for different industrial uses such as, industrial, medical, automotive and security surveillance.
The major market players of the global hyper spectral imaging market are:
- APPLIED SPECTRAL IMAGING LTD.
- BRANDYWINE PHOTONICS LLC.
- CHEMIMAGE CORPORATION
- CUBERT-GMBH
- CYTOVIVA, INC.
- GILDEN PHOTONICS LTD.
- HEADWALL PHOTONICS, INC.
- HYVISTA CORPORATION PTY LTD.
- IMEC
- LEMNATEC GMBH
- NORSKELEKTROOPTIKK A/S
- OPTICS A/S
- SPECIM SPECTRAL IMAGING LTD.
- SURFACE OPTICS CORP.
- TELOPS INC.
Detailed analysis of these companies provided in this report comprises overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
These companies use various strategies such as mergers & acquisitions, collaboration, partnership and product launching. For example: In June 2016, SPECIM Spectral Imaging increased its product portfolio by launching new camera series SPECIM FX 10 designed specifically for industry needs. It was launched to cater growing market demand. Similarly, in April 2016, Applied Spectral Imaging (ASI) and Agilent Technologies Inc. entered into an agreement which stated that both the companies will conjointly market ASI's GenASIs imaging platforms and Agilent's fluorescence in situ hybridization (FISH) products and solutions.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as partnership as in April 2016, Applied Spectral Imaging (ASI) and Agilent Technologies Inc. entered into an agreement to work conjointly and market the ASI’s GenASIs imaging platform.
- Provide in detail the different segments such as application, component and end user which affect the global hyper spectral imaging market.
- Provide you the patent analysis of global hyper spectral imaging market.
- Identify and understand the strength, opportunities, challenges and threat of global hyper spectral imaging market.
- Provide revenues of major players of the market such as Applied Spectral Imaging ltd.
- Provide you the various regulatory policies which affect the global hyper spectral imaging market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global hyper spectral imaging market offers the longest chain of market segmentation covering major market segmentation based on applications, components and end users. The report tracks the major market trends in the global hyper spectral imaging market such as technological innovation and upgradation like High-throughput hyperspectral imaging technology and real time hyperspectral imaging. For each market segments covered in global hyper spectral imaging market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the hyper spectral imaging industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global hyper spectral imaging market:
- North America held the largest revenue share in 2016.
- Agreement is the key strategy adopted by the various market players of global hyper spectral imaging market.
- Military surveillance sector is the major segment of end user and application.
