April 18, 2019
WELLESLEY, Mass., April 18, 2019— A new report from BCC Research, “Hyperspectral Imaging: Technologies and Global Markets to 2023,” estimates that by 2023, the global market for hyperspectral imaging should reach $206.2 million, up from $104 million in 2018, indicating a compound annual growth rate (CAGR) of 14.7%.
Hyperspectral images provide much more detailed information than those obtained from a normal color camera and finds applications across or in the stages of product development including installation, maintenance, manufacturing and research and development.
“The hyperspectral imaging market is expected to witness robust growth during,” said BCC Research analyst and report author Sinha G. Gaurav. “Rising demand for research and development (R&D), increasing application in military, medical diagnosis, food processing, surveillance, chemical imaging and so forth are some of the major factors driving the growth of hyperspectral imaging market globally.”
Growth Opportunities for Developing Countries
Hyperspectral imaging is used in applications at various stages of the production process to maintain product quality and operational efficiency by nullifying errors. The major application areas of hyperspectral imaging include installation, maintenance, manufacturing and R&D.
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Hyperspectral Imaging: Technologies and Global Markets to 2023( IAS135A )
Publish Date: Apr 2019
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