DUBLIN--(BUSINESS WIRE)--Aug 22, 2018--The "Hyperspectral Imaging System Market by Product & Application - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global hyperspectral imaging systems market is projected to reach USD 21.33 billion by 2023 from USD 9.51 billion in 2018, at a CAGR of 17.5%.

Factors driving the growth of this market are growing industrial applications of hyperspectral imaging and increasing funding & investments. However, data storage issues and high costs associated with the use of hyperspectral imaging are expected to restrain the growth of this market during the forecast period.

Based on product, the hyperspectral imaging systems market is segmented into cameras and accessories. The cameras segment is expected to dominate the market with the largest share and is also expected to grow at the highest CAGR during the forecast period. This is attributed to factors such as recent advances in sensor development & computing power and the availability of low-cost cameras with widening industrial applications.

On the basis of application, the hyperspectral imaging systems market is segmented into military surveillance, remote sensing, machine vision and optical sorting, life sciences and medical diagnostics, and other applications. The military surveillance segment is expected to account for the largest share of the hyperspectral imaging systems market in 2018.

The advancements in hyperspectral imaging data management and component fabrication techniques as well as the better accuracy and consistency of hyperspectral imaging data (as compared to other conventional imaging techniques) are the major factors driving the adoption of hyperspectral imaging systems in military surveillance applications.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Hyperspectral Imaging Systems Market, By Product

7 Hyperspectral Imaging Systems Market, By Application

8 Hyperspectral Imaging Systems Market, By Region

9 Competitive Landscape

10 Company Profiles

Headwall Photonics, Inc. Corning Incorporated Specim, Spectral Imaging Ltd. Resonon Telops Inc. Norsk Elektro Optikk as (NEO) Applied Spectral Imaging Bayspec Surface Optics Corporation Chemimage Corporation Cubert GmbH

For more information about this report visit https://www.researchandmarkets.com/research/6h73p6/20_billion?w=4

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SOURCE: Research and Markets

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PUB: 08/22/2018 12:02 PM/DISC: 08/22/2018 12:02 PM