Hyperspectral Imaging Market: Future Key Trends and CAGR Prediction through 2029

Posted by Arslan on March 11th, 2020

The global hyperspectral imaging market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each hyperspectral imaging market player in a comprehensive way. Further, the hyperspectral imaging market report emphasizes the adoption pattern of the hyperspectral imaging across various industries.

The hyperspectral imaging market report highlights the following players:

  • Hexagon AB
  • Harris Corporation
  • Hansa Luftbild
  • Antrix Corporation
  • Others

The hyperspectral imaging market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.

Global hyperspectral imaging market is forecast to touch US $ 1.2 Bn by 2029 end. On the back of increasing demand for efficient imagery analytics from industry clusters, the hyper spectral remote sensing market has witnessed a spurt in investments. Private companies along with the governments of major countries are realizing the benefits of this technology, thus investing a huge sum of money into the advancement of hyper spectral imaging technology. FluroSat, SaraniaSat etc. are some of the startups in hyper spectral imaging technology that have secured significant investments. NASA and ISRO on the other hand are the government organizations dedicated towards the development and exploration of finer spatial resolutions for hyper spectral imaging industry. On this premise, the global hyperspectral imaging market is expected to register a CAGR of ~5% over the forecast period.

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Key Takeaways of Global Hyperspectral Imaging Market

Global hyperspectral imaging market is expected to create an absolute value opportunity of around US$ 850 Mn by 2029 end, adding 3X more value as compared to 2019. Forestry and Agriculture accounted for majority of the market share in 2019 owing to wide adoption of imaging services across numerous applications. Despite accounting for a lower market share in 2019, Aerospace & Defence will be amongst the most lucrative end use sectors and are estimated to grow at a CAGR of ~14% till 2029. North America maintained its hegemony in the hyperspectral imaging Market in 2018, owing to high spending in hyperspectral image technology. With anticipated growth of over 14%, East Asia is the next growth epicenter for hyperspectral imaging market owing to the surging adoption of imaging services across major industries.

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