Global Hyperspectral Imaging Market By Product Type (Hyperspectral Imaging Camera, Accessories), By Technology (Push Broom, Snapshot, and Others), By Application (Medical Diagnostics, Remote Sensing, Military Surveillance, Machine vision, and Other Applications), By Spectral Range (Visible Hyperspectral Imaging, Visible Near-Infrared (VNIR) Hyperspectral Imaging, Short-Wave Infrared (SWIR) Hyperspectral Imaging, Mid-Wave Infrared and Long-Wave Infrared Hyperspectral Imaging, and Other Spectral Ranges), By End-User(Healthcare, Food And Agriculture, Defence, Mining And Metrology, and Other End-Users), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Report Overview

In 2023, the Global Hyperspectral Imaging Market was valued at USD 16.9 Billion and it is projected to expand to USD 51.2 Billion by 2032; Compound Annual Growth Rate (CAGR) of 13.5% during this period. The growth in this market can be attributed to increasing demands for remote sensing in agriculture, defense and commercial applications.

Hyperspectral imaging is an imaging technique which collects and processes electromagnetic spectrum information in order to generate the spectrum for each pixel in an image, in order to locate objects, identify materials or detect processes. Hyperspectral imaging divides its spectrum into many more bands than what humans can perceive – with fine wavelength resolution covering an expansive wavelength spectrum range; unlike multiband imaging which measures spaced-apart bands. It may be used either alone or alongside multiband imaging which measures continuous bands over a specified range.

Note: Actual Numbers Might Vary in the final report

Key Takeaways

• Market Size and Growth: The global Hyperspectral Imaging Market is estimated to reach a market size of USD 51.2 Billion by 2032, with a projected Compound Annual Growth Rate (CAGR) of 13.5% from 2023 to 2032.
• Market Segmentation:
  • Product Type: Dominated by Hyperspectral Cameras and Accessories.
  • Technology: Push-broom technology holds the highest demand, followed by snapshot technology.
  • Application: Military surveillance and remote sensing are leading applications.
  • Spectral Range: Visible Near-Infrared (VNIR) Hyperspectral Imaging holds the largest market share.
  • End-User: Healthcare sector dominates the market, followed by the food and agriculture sector.
• Market Drivers: Increasing demand for better diagnostics and monitoring systems is driving the growth of the hyperspectral imaging market. The technology offers advanced imaging capabilities and real-time analysis, leading to improved outcomes in various sectors.
• Market Restraints: The high cost of hyperspectral imaging systems is a significant challenge, especially for smaller organizations and developing economies. The initial investment and maintenance costs can be prohibitive for some potential users.
• Market Opportunities: Emerging economies, particularly in Latin America and the Asia Pacific, present untapped potential for the hyperspectral imaging market. These regions show significant growth potential due to increasing investments in research and development and technological advancements.
• Key Market Players: Leading players in the market include ClydeHSI, Cubert, Headwall Photonics Inc., Specim Spectral Imaging Ltd., and others. These companies are focusing on product innovation, research and development, and strategic partnerships to maintain their dominance in the market.
• Regional Analysis: North America holds a major share in the global market, followed by the Asia Pacific region, which is experiencing rapid growth. Factors such as technological advancements and increased investment in research and development contribute to the market’s growth in these regions.

Product Analysis

Hyperspectral Camera is the dominating segment through the forecast period

The Hyperspectral Imaging Market is segmented based on product type, hyperspectral camera and accessories. Among these, hyperspectral cameras held the majority of revenue share. In 2022, hyperspectral cameras accounted for a 53.0% share among other product types. Hyperspectral cameras are pivotal in capturing high-resolution spectral data across different wavelengths. These cameras are designed to capture a vast amount of spectral information, enabling detailed analysis and interpretation of data.

They find large-scale applications in various industries, including agriculture, healthcare, and defense, for crop monitoring, disease detection, non-invasive diagnostics, and target detection. The dominance of the hyperspectral camera segment can be attributed to the rising demand for modern imaging solutions and the continuous advancement in camera technologies, leading to improved image quality, perfection, and reliability.

The accessories segment is expected to grow significantly as it enables users to customize their image systems according to specific requirements, enhance system capabilities, and improve hyperspectral imaging solutions’ overall performance and efficiency. Accessories complement the hyperspectral imaging system by providing additional features and enhancing performance. These accessories include lenses, filters, light sources, software, and calibration tools. These factors contribute to the strong market growth potential of the accessories segment.

Technology Analysis

Push-broom Technology is in High Demand

The market is segmented into push-broom, snapshot, and other technologies based on technology. Among these technologies, the push-broom technology accounted for 56.0% of the market share. A Push-broom camera collects all the spectral and spatial info about a target line-by-line. It’s made up of a spectrographic camera, a color camera, and a lens that needs to be tailored to the camera’s wavelength range. The architecture of Push-Broom scanning is better than that of earlier scanning technologies, and it has a much smaller payload size, power output, and volume. However, it does come with some challenges when getting the radiometric accuracy you need. Most existing HSPs use push-broom scanning, usually for flat surface inspections.

Moreover, snapshot technology will be the fastest-growing segment based on technology. The hyperspectral image is obtained during the integration time of the detector array. There is no scanning involved in this method. The entire data cube is captured at a single point in time by the snapshot spectral imager. In most cases, the image sensor is a 2D sensor, and some technique is used to project the image cube onto the image sensor. Some of the image sensor speed is faster than the scanning-based method. However, due to the limitation of pixels on image sensors, there is a tradeoff between spatial resolution and spectral resolution. Most of the image sensor speeds are faster than scanning-based methods.

Note: Actual Numbers Might Vary in the final report

Application Analysis

Military Surveillance Is In Demand Due To The Increased Use Of Hyperspectral Cameras.

Based on applications, the market is further divided into medical diagnostics, military surveillance, remote sensing, machine vision, and other applications. Among these applications, military surveillance accounted for the largest market share of 28.0% in 2022. Implementing hyperspectral imaging sensors is widespread in the defense and government sectors. These sensors are employed in various applications, ranging from small satellites to high-altitude commercial aircraft.

Additionally, hyperspectral imaging is employed on many medium-to-low-altitude crewless aerial vehicles (UAVs). These small, lightweight, customized COTS sensors can be utilized on-site and in vehicles for various purposes, such as checkpoint inspection, spectral tagging, and border control. An emerging application is the detection of metal corrosion on aircraft and naval vessels due to its ability to provide high-resolution spectral and spatial data.

Similarly, remote sensing application is expected to advance significantly over the forecast period. Hyperspectral remote sensing can help us understand the physical and chemical properties of many different terrain features, atmospheric phenomena, and crop health and can be used to characterize them. The main applications of this technology are coastal zone management, geology, mineral exploration, agriculture, forestry, ecology, mine detection, small-scale zone mapping, and camouflage.

Spectral Range Analysis

Visible Near-Infrared (VNIR) Hyperspectral Imaging Range Leads the Market.

Based on spectral range, the market is further divided into visible hyperspectral imaging, visible near-infrared (VNIR) hyperspectral imaging, short-wave infrared (SWIR) hyperspectral imaging, mid-wave infrared and long-wave infrared hyperspectral imaging, and other spectral ranges. Among these spectral ranges, visible near-infrared (VNIR) hyperspectral imaging accounted for the largest market share of 25% in 2022. It is used for nutritive element detection. Visible near-infrared (VNIR) HIS is a technique developed in recent years and has received increasing attention in forestry due to its rapid and accurate non-destructive detection of plants.

Recently, in 2023, visible and near-infrared hyperspectral imaging (NIRH) was used as an advanced parasite detection system for Sashimi.  Sashimi is a traditional Japanese food consisting solely of raw aquatic products. Traditionally, parasites on Sashimi are detected by a microscope, immunofluorescence assay, and polymerase chain reaction. However, these methods are labor and time-consuming and cannot easily be implemented by the industry.

Therefore, there is an urgent need to find a quick, easily performed, reliable, and intelligent method for detecting parasites in Sashimi. Currently, the use of visible and near-infrared is well established for food quality detection, including disease monitoring, insect pest detection, and protein and fat content assessment.

End-User Analysis

The Healthcare Sector is dominating the Global Hyperspectral Imaging Market.

Based on end-users, the market is further divided into healthcare, food and agriculture, defense, mining and metrology, and other end-users. The healthcare segment is expected to hold the largest market share of 32.5 % during the forecast period. These technology can be used in various healthcare applications, such as non-invasive diagnosis, surgical guidance, wound monitoring, and more. It allows healthcare professionals to analyze high-resolution spectral data to detect anomalies, monitor disease progression, and guide surgical procedures. The digital transformation of the health sector is currently significantly impacting the industry.

The fastest-growing segment in the market based on end-users is the food & agriculture segment. Hyperspectral imaging is an important component of the agricultural value chain, which is responsible for food quality, safety, and traceability. It assists in the accurate monitoring of crop health and disease detection, as well as the assessment of food quality characteristics such as ripeness and freshness, as well as contamination. Government initiatives to promote sustainable agriculture and incorporating technology into agricultural operations are further contributing to the expansion of the Hyperspectral Imaging industry.

Similarly, The mining and metrology section holds a significant market share. The Earth has around 4000 minerals that are naturally occurring. These minerals are deposited in various chemical compositions, each with distinct spectral characteristics that include a distinct line and assist in identifying additional minerals. Hyperspectral imaging techniques (HIs) are particularly beneficial in this context.

Key Market Segments

By Product Type

• Hyperspectral Camera
• Accessories

By Technology

• Push-broom
• Snapshot
• Other Technologies

By Application

• Medical Diagnostics
• Military Surveillance
• Remote Sensing
• Machine Vision
• Other Applications

By Spectral Range

• Visible Hyperspectral Imaging
• Visible Near-Infrared (VNIR) Hyperspectral Imaging
• Short-Wave Infrared (SWIR) Hyperspectral Imaging
• Mid-Wave Infrared and Long-Wave Infrared Hyperspectral Imaging
• Other Spectral Ranges

By End-User

• Healthcare
• Food and Agriculture
• Defense
• Mining and Metrology
• Other End-Users

Drivers

Increasing Demand For Better Diagnostics and Better Monitoring Systems.

Hyperspectral imaging technologies provide high-quality spectral data for better analysis and detection of anomalies in various applications, such as healthcare and agriculture. The need for advanced diagnostic tools and monitoring systems drives the hyperspectral imaging market. Hyperspectral imaging provides not only advanced imaging capabilities but also real-time analysis. This leads to better patient outcomes, agricultural practices, and efficient resource management.

According to research, Belgium-based Nano electronics Imec Research Hub, a research hub specializing in hyperspectral imaging, has partnered with German camera manufacturer Ximea to create a new line of hyperspectral imaging cameras, referred to as xiSpe2, which are designed to be used in machine vision applications.

Restraints

High Cost

Hyperspectral imaging requires specialized equipment, sophisticated sensors, and advanced data analysis techniques to develop and implement the technology. This can lead to high upfront costs for acquiring and maintaining these systems. Affordability can also hinder hyperspectral adoption, especially in developing economies and small organizations with limited budgets. The need for inspection tasks also affects the cost.

Top-of-the-line hyperspectral technology can be purchased for as low as 20,000 EUR per camera system. Commercial HISs are available, but at a starting price of around 28,000 USD, they are very expensive for many customers and applications. Hence, the development of affordable camera systems is essential. Hypertension imagers can cost tens of thousands of dollars. Therefore, many consumers avoid using the technology.

Opportunity

Untapped Potential In Emerging Economies

Hyperspectral imaging is expected to experience significant growth opportunities in emerging economies, particularly Latin America and Asia Pacific. To meet the increasing demand for precise and rapid mapping of natural resources through remote sensing technologies, China has developed and deployed several hyperspectral sensors, including 34 satellites and a combination of radar and infrared satellites launched in September 2019 under the Zhuhai 1 Project.

Trends

Rise in Selection of Hyperspectral Imaging in Precision Agriculture for Crop Monitoring, Disease Detection, and Yield Optimization.

Hyperspectral imaging has become a trending technique for assessing the quality and safety of agricultural and horticultural products. It combines the power of remote sensing with machine vision and point spectrometry to create high-quality images that can be used to spot flaws and contaminants. Users in this field have been able to recognize some of the most important uses of hypersonic imaging for precision agriculture, look at how it’s been used in the past and the present, and figure out what needs to be done to make sure end-users have solutions that meet global sustainability goals.

Hyperspectral remote sensing is important in agriculture, providing comprehensive and detailed information on crops and their conditions. This information can be used to accurately monitor crop nutrition, detect diseases and stress factors promptly, and facilitate high throughput phenotyping for effective plant breeding. Additionally, hyperspectral images aid in species and genotypic discrimination and provide valuable information on the biochemical characteristics of crops, which can lead to improved agricultural management practices and increased crop productivity.

Regional Analysis

North America Holds a Major Share in the Global Hyperspectral Imaging Market

The North American region has a 32.0% market share in 2022. A well-developed technological infrastructure, substantial research development investments, and the presence of key players in the market identify North America. North America has adopted hyperspectral imaging in various industries, such as healthcare, agriculture, defense, and environmental monitoring.

The high usage of this technology in the region can be attributed to several factors, including a full-fledged healthcare system, an increased emphasis on precision agriculture, and the widespread use of hyper-spectral imaging in defense. Furthermore, North America’s market growth is further supported by favorable government initiatives and industry-led and research-based collaborations.

Asia Pacific is the region experiencing the foremost fast growth in the global hyperspectral imaging Market. Components such as industrialization, technological advancement, and increased investment in research and development have contributed to the fast development of the region’s market.

Major players in the region, such as China, Japan, and India, are seeing a significant uptake of hyperspectral Imaging Technology in various sectors, such as agriculture, healthcare, and Mining. This growth is due to the region’s large population, expanding infrastructure, and increasing demand for quality agricultural products. Additionally, several government initiatives encourage the adoption of advanced imaging technologies, as well as emerging economies focusing on technology adoption.

Note: Actual Numbers Might Vary in the final report

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherlands
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

Implementation of Various Strategies Helps to Maintain The Dominance Of Industry Leaders

Key players in the market are executing various strategies such as partnerships, product launches, R&D investments, mergers, acquisitions, etc. Some of the leading players in this market include Headwall Photonics and Spectral Imaging Ltd., as well as Corning Incorporated. Product launches, large investments in research and development, partnerships, and acquisitions are some of the key growth strategies that these companies are using to stay ahead of the competition.

The global hyperspectral imaging market is significantly fragmented due to the appearance of a few key players worldwide. The appearance of new key players faces fierce competition from the leading players in the market. Key market players’ strategies include product innovation and development to increase their product portfolio, expand their appearance in the market, and meet the increasing demand for hypersonic imaging solutions. Key players mainly focus on technological innovation, research and development (R&D), and geographic expansion to increase their competitive advantage.

The following are some of the major players in the industry:

• ClydeHSI
• Cubert
• Perspective Vision GmbH
• Headwall Photonics Inc.
• Specim Spectral Imaging Ltd.
• Imec
• Norsk Elektro Optikk A/S
• Resonon Inc
• Surface Optics Corp
• Ximea
• Other Key Players

Recent Development

• In September 2022, Hyperspectral imaging company Resonon launched two new hyperspectral NIR range imagers (NIR range from 925 nm to 1700 nm): the Pika IS-L and IS-L+. The new IS-L hyperspectral images are smaller, about three times lighter, and offer a higher spectral resolution than the current generation NIR images.
• In July 2022, Headwell declared a strategic investment in PerClassBV, a software package developed by PerClass that enables the intuitive analysis of spectral imaging data. This software package, Mira Spectrum Analysis, is designed for research, industrial, and commercial applications and is compatible with multiple spectral sensors. PerClass aims to make interpreting spectral imaging data for industrial applications easier.

Report Scope