Hyperspectral Imaging System Market Report 2025

The hyperspectral imaging system market size has grown rapidly in recent years. It will grow from $24.57 billion in 2024 to $28.39 billion in 2025 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rising healthcare expenditure, rising use of diagnostic medical imaging and rising advanced healthcare infrastructure.

The hyperspectral imaging system market size is expected to see rapid growth in the next few years. It will grow to $48.88 billion in 2029 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to increasing cancer cases, increasing geriatric population, increase in healthcare access, and rise of autonomous vehicles. Major trends in the forecast period include a focus on product innovations, collaborations and acquisitions, investments, technology advancements, and the use of artificial intelligence.

The increasing popularity of autonomous vehicles is anticipated to drive the growth of the hyperspectral imaging system market in the coming years. Autonomous vehicles are designed to operate without human driver assistance. Hyperspectral imaging systems can greatly improve the perception and decision-making abilities of these vehicles, allowing them to navigate a variety of challenging environments with enhanced safety and efficiency. For example, in August 2022, the National Association of Insurance Commissioners, a U.S.-based non-profit organization, projected that by 2025, there will be 3.5 million self-driving vehicles on U.S. roads, with this number rising to 4.5 million by 2030. Consequently, the rising popularity of autonomous vehicles is likely to increase the demand for hyperspectral imaging systems.

The increasing incidence of cancer is expected to drive the growth of the hyperspectral imaging system market. Cancer is a leading cause of death globally, with one in five people likely to develop it during their lifetime. This prevalence presents a significant opportunity for hyperspectral imaging systems to make a substantial impact in medical diagnostics and enhance patient outcomes. For example, according to the American Cancer Society Facts and Figures, a U.S.-based health organization, approximately 1.9 million new cancer cases were diagnosed in the U.S. in 2022, leading to 609,360 deaths. Projections for 2023 suggest a slight increase, with over 1.9 million new cases and around 609,820 deaths anticipated. Thus, the rising prevalence of cancer is propelling the growth of the hyperspectral imaging system market.

Prominent players in the hyperspectral imaging systems market are concentrating on product innovation and the development of new solutions to solidify their market positions. For instance, in September 2022, Resonon, a US-based company specializing in hyperspectral imaging cameras and solutions, introduced two new near-infrared (NIR) range hyperspectral imagers, Pika IR-L and Pika IR-L+. These imagers are smaller, nearly three times lighter, and offer improved spectral resolution compared to the previous generation of NIR imagers.

Major companies in the hyperspectral imaging systems market are dedicated to incorporating new technologies and introducing innovative products to enhance their market standing. In January 2023, Panasonic Holdings Corporation, a Japan-based company, achieved the highest sensitivity in hyperspectral imaging technology by applying compressed sensing technology, commonly used in medical care and space exploration. This advancement allows for the identification of subtle color differences that are challenging to discern with the naked eye, maintaining the usability of conventional color cameras and improving image analysis and recognition accuracy.

In April 2023, Photonis, a France-based manufacturer of electro-optical detection and imaging systems, acquired Telops for an undisclosed amount. This acquisition enables Photonis to expand its technological expertise by incorporating hyperspectral capabilities into its portfolio. Telops, a Canadian-based company, is known for developing and manufacturing high-performance hyperspectral imaging systems and infrared cameras.

Major companies operating in the hyperspectral imaging system market include Corning Incorporated, Cubert GmbH, Norsk Elektro Optikk AS, Telops Inc, Thorlabs Inc., Surface Optics Corporation, Applied Spectral Imaging Inc, Headwall Photonics, XIMEA GmbH, Bayspec Inc, DAEIL SYSTEMS Co Ltd, LightPath Technologies Inc, Zolix Instruments Co Ltd, Beijing Huaqiang Zongheng Technology Co Ltd, Shenzhen Wayho Technology Co Ltd, Specim, Pixxel, Imec, Photonis, Resonon partners, NTechLab, Russian Space Systems (RKS), Geoscan Group, Space Research Institute of the Russian Academy of Sciences, ScanEx Research and Development Center Terrasigna, TRL Space, Romanian Space Agency, MDA Corporation, ITRES Research Limited, Optech (Teledyne Optech), APEX Spectral Technol, ImpactVision, Vitta, Hi Technologies, Brain4care, TissueLabs, Ninsaúde, Zane Wave, Mvp Tech, N Tech Security Systems, Ansari Security Systems, V-ITS, Rezatec, HyVista Corporation, Specto Natura, Sokotra Capital Ltd.

North America was the largest region in the hyperspectral imaging system market in 2024. The regions covered in the hyperspectral imaging system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hyperspectral imaging system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Hyperspectral imaging is a technique widely employed across various industries and applications to gather images at different wavelengths. This involves obtaining a spectral view at each point of the image in each direction, enabling the collection of spectra for every pixel in the sample. This process aids in the identification of objects and processes.

The primary products within hyperspectral imaging systems comprise cameras and accessories. Cameras play a crucial role in capturing images and scanning them under ultraviolet, infrared, and other specified rays. These cameras find applications in laboratories, diagnostics, and various other fields. Different technologies such as push broom, snapshot, and others are utilized in applications such as military surveillance, remote sensing, life sciences, medical diagnostics, machine vision, optical sorting, and more. Hyperspectral imaging is implemented across diverse sectors, including food and agriculture, healthcare, defense, mining and metrology, among others.

The hyperspectral imaging system market research report is one of a series of new reports that provides hyperspectral imaging system market statistics, including hyperspectral imaging system industry global market size, regional shares, competitors with a hyperspectral imaging system market share, detailed hyperspectral imaging system market segments, market trends and opportunities, and any further data you may need to thrive in the hyperspectral imaging system industry. This hyperspectral imaging system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hyperspectral imaging systems market includes revenues earned by entities by providing point scanning, line scanning, and area scanning. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.