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Hyperspectral Imaging Market to Grow at a CAGR of 12.0% by 2019

The global hyperspectral imaging technologies market is estimated to grow at a CAGR of 12.0% from 2014 to 2019. Although the mature markets (such as the U.S., Germany, and the U.K.) hold larger shares in the hyperspectral imaging technologies market, the Asia-Pacific region is expected to grow at the fastest CAGR of 13.0% during the forecast period of 2014 to 2019. The growth of the hyperspectral imaging technologies market is driven by factors such as the increasing adoption of HSI technologies in the defense, life science & diagnostics, and agricultural industries. Moreover, emerging economies such as India and China are creating huge growth opportunities for the hyperspectral imaging technologies market in these regions. However, factors such as high installation costs and reimbursement issues are expected to be the possible restraints to the growth of this market in the coming years.

In this report, the global Hyperspectral Imaging Market has been broadly classified on the basis of applications. The applications segment includes in industries such as agriculture, colorimetry, environmental monitoring, food, life science & medical diagnostics, military surveillance (defense), mining & mineralogy, and machine control & process vision. The life science & medical diagnostics market segment is estimated to grow at the fastest CAGR from 2014 to 2019. Factors such as the increasing adoption of HSI technologies in Ophthalmology, surface tissue and mucosal membrane analysis, gastrointestinal tract, and vascular system are driving the growth of this segment.

Geographically, North America (comprising the U.S. and Canada) is estimated to command the largest share of 50.6% of the global hyperspectral imaging technologies market in 2014, followed by Europe. The hyperspectral imaging technologies market in the North America is primarily driven by increasing research activities using HSI technologies, and the growing adoption of hyperspectral imaging in military surveillance, environmental, mining, machine vision, and life sciences & diagnostics. The Asia-Pacific region is estimated to grow at the fastest CAGR of 13.0% from 2014 to 2019. Factors such as rising pharmaceutical industry in China and India, along with an increasing usage of hyperspectral imaging technology in environmental testing and mining explorations research activities, are driving the growth of the hyperspectral imaging market in Asia-Pacific.

The global hyperspectral imaging technologies market is a competitive market with a number of market players. As of 2014, the global hyperspectral imaging technologies market is dominated by Applied Spectral Imaging Ltd. (U.S.), Brandywine Photonics LLC (U.S.), ChemImage Corp. (U.S.), Cubert-GmbH (Germany), CytoViva, Inc. (U.S.), VK DI Kerschhaggl GmbH (Germany), FluxData,Inc. (U.S.), and GeoMetWatch Corp. (U.S.), among others. New product launches, partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by most market players to achieve growth in the hyperspectral imaging technologies market.   

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Reasons to Buy the Report:

From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends and PEST analysis), market share analysis of the top market players, supply chain analysis, and company profiles, which together discuss the basic views on the competitive landscape; emerging and high-growth segments of the hyperspectral imaging technologies market; high-growth regions and their respective regulatory policies; government initiatives; and market drivers, restraints, and opportunities.

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater share in the global market. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on technologies offered by the top players in the hyperspectral imaging technologies market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the hyperspectral imaging technologies market
  • Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various hyperspectral imaging technologies across major regions in the world
  • Market Diversification: Exhaustive information about new products, untapped markets, recent developments, and investments in the hyperspectral imaging technologies market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the hyperspectral imaging technologies market

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