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Global Hyperspectral Imaging Market is Expected to Reach $74.29 Million by 2019, at a CAGR of 12.0% From 2014 to 2019

FORT WORTH, Texas, April 7, 2015 /PRNewswire/ --

The Global Hyperspectral Imaging market report defines and segments the concerned market with analysis and forecast of revenue. This market is expected to reach $74.29 million by 2019 and is estimated to grow at a CAGR of 12.0% from 2014 to 2019.

Browse through the TOC of global hyperspectral imaging market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.

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Hyperspectral imaging (HSI) is a colorimetric technique that captures the spectral fingerprint of objects in the visible (includes nearby IR and UV) spectrum through a multitude (tens to hundreds) of narrow band optical filters. It is broadly considered to be the subset of spectral imaging, which captures all the color tones of the scene over separate pixels.

It optically distinguishing any slight variation in visually similar colors, therefore, ensuring a high spectral resolution image capturing process. Some of the major utility areas of HSI sensors and cameras are to forecast cyclogenesis and the development of hurricane force winds in the North Pacific and Atlantic oceans. It identifies regions of stratospheric air, and detect major atmospheric parameters such as temperature, precipitation, ozone, air quality, and carbon dioxide in order to predict and monitor the climatic conditions.

Factors such as increasing adoption of hyperspectral imaging, technological advancements, data accuracy and consistency drive the market growth for hyperspectral imaging market. Besides, operator safety, patient comfort and safety are some of the major factors oriented in the hyperspectral imaging market. It is also used in areas such as mining and mineralogy industry, agriculture and environment testing.

HSI market has various application segments, out of which military surveillance commanded largest share in 2013, and it will continue to grow further. The airborne hyperspectral imagery is valuable for military and civilian applications, such as detection of military camouflage, landmine detection, target identification, detection of anomalies.

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HSI is used to visualize and access the images of in-depth structures of eye, surface tissues, mucosal membranes, the gastrointestinal tract, and vascular systems, therefore, fueling the growth of the hyper-spectral imaging market in the life science and clinical research sector.

Geographically, the North American region contributed 50.4% in 2013 to the global hyperspectral imaging market. The North American market was estimated at $19.0 million in 2013, and is expected to grow at a CAGR of 12.3% from 2014 to 2019. In terms of high growth potential, the Asian hyper-spectral imaging market is an open market, expected to witness maximum growth from 2014 to 2019.

Global hyper-spectral imaging market is well segmented on the basis of application in various fields and country specific geographical insights. The hyper-spectral imaging market, by application is segmented into agriculture industry, food industry, life science & medical diagnostics, environmental monitoring, military surveillance (defense), colorimetry, mining & mineralogy, meteorology, and machine control & process vision. The report is divided on the basis of major regions and countries, such as North America (U.S. and Canada), Europe (EU-5), Asia (Japan, China, India), and Rest of the World (RoW).

This report also includes the market share, value chain analyses, and market metrics such as drivers, restraints and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of the key players in the market including major companies of the market.

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The Global Optical Imaging Devices Market is mainly driven by enhanced image quality which increases the accuracy in disease diagnosis, and therefore increasing prevalence to cancer, cardiac, neurological and musculoskeletal disorders. The market was estimated at $915.75 million in 2013 and is expected to reach $1.9 billion by 2018, at a CAGR of 11.4%.

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