Hyperspectral Imaging Market to Hit $473M by 2029

"In-Depth Market Analysis: Hyperspectral Imaging Technologies, Applications, and Growth Prospects Across Defense, Agriculture, Healthcare"

/EIN News/ -- Boston, May 29, 2025 (GLOBE NEWSWIRE) -- According to the latest study from BCC Research, “Hyperspectral Imaging: Technologies and Global Markets” is expected to grow from $301.4 million in 2024 to $472.9 million by the end of 2029, at a compound annual growth rate (CAGR) of 9.4% from 2024 through 2029.

The report analyzes trends and provides revenue data for market segments and regions. It segments the market by scanning type, type, technology, spectral range, application, and region, covering North America, Europe, Asia-Pacific, and the Rest of the World (including South America, the Middle East and Africa). The report also examines emerging technologies and the vendor landscape, and concludes with profiles of leading companies in the market.

This report is highly relevant due to the increasing demand for advanced hyperspectral imaging technology driven by rising government spending on defense and precision farming worldwide. It provides an in-depth analysis of hyperspectral imaging technologies, highlighting their applications in enhanced surveillance, target identification, and reconnaissance in defense, as well as crop monitoring, soil analysis, and disease detection in precision farming. The insights into trends, growth opportunities, and emerging challenges, make the report essential reading for stakeholders such as defense companies, distributors, precision agricultural companies, and investors.

The factors driving the market include:

Remote Sensing Demand: Remote sensing technology is increasingly used for environmental monitoring, agriculture, and urban planning. It allows for detailed data collection without physical contact, making it essential for many applications.

Medical and Space Use: Hyperspectral imaging is used in medical diagnostics for disease detection and surgical guidance, providing detailed spectral information. In space exploration, it helps analyze planetary surfaces and identify minerals.

Agriculture: In agriculture, hyperspectral imaging monitors crop health, detects diseases early, and optimizes resource use, such as water and fertilizers. This leads to better crop yields and sustainable farming practices.

Technological Advances: Technology advances have improved the quality and speed of hyperspectral imaging. Innovations such as miniaturized sensors and advanced data processing make it more efficient and accessible for a growing number of applications.

Government Funding: Government investment supports the development and adoption of hyperspectral imaging. Funding helps advance research and expand its applications, such as mapping mineral resources for national security.

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Report Synopsis

Report Metric	Details
Base year considered	2023
Forecast period considered	2024-2029
Base year market size	$277.7 million
Market size forecast	$472.9 million
Growth rate	CAGR of 9.4% from 2024 through 2029
Segments covered	Scanning Type, Offering, Technology, Spectral Range, Application
Regions covered	North America, Europe, Asia-Pacific, and the Rest of the World (South America, and the Middle East and Africa)
Countries covered	U.S., Canada, Mexico, Germany, France, Italy, U.K., Japan, China, India and South Korea
Market drivers	Growing demand for remote sensing technology. Increasing adoption of hyperspectral imaging in medical care and space exploration. Hyperspectral imaging in agriculture. Technological advances leading to improved image quality and processing speed. Government funding for hyperspectral imaging

Interesting facts:

• As powerful as hyperspectral imaging is, it is not widely used in many areas. Although it can detect harmful gases, check crop irrigation, and identify water pollution, its adoption is limited due to its cost and the difficulty in processing its data.

• Government space agencies such as NASA and ESA use hyperspectral imaging for advanced projects.

Emerging startups

• Condi Food offers automated real-time hyperspectral solutions for analyzing fish, meat, and vegetables, detecting contaminants, and ensuring ripeness or freshness without physical contact.

• Gamaya specializes in hyperspectral imaging-based AI-powered data analytics and crop-specific models to support sustainable food production.

• Unispectral specializes in spectral imaging solutions, overcoming cost, size, and complexity barriers to enable broader adoption of hyperspectral technology.

The report addresses the following questions:

1. What is the global hyperspectral imaging market’s projected size and growth rate?

• The global market for hyperspectral imaging technologies was valued at $277.7 million in 2023 and is projected to reach $472.9 million by the end of 2029, at a CAGR of 9.4% from 2024 to 2029.

2. Which application segment will be dominant over the forecast period?

• The defense and intelligence segment will continue to dominate the global hyperspectral imaging market, due to the increased adoption of hyperspectral imaging for enhanced surveillance, target identification, and reconnaissance.

3. Which region has the largest market share?

• The North American region is the leading revenue generator for the global hyperspectral imaging market. In 2023, it accounted for $108.9 million in revenue, representing about 39.2% worldwide.

Market leaders include:

• BAYSPEC INC.
• BRIMROSE CORP.
• CHNSPEC TECHNOLOGY (ZHEJIANG) CO. LTD.
• CORNING INC.
• CUBERT GMBH
• CYTOVIVA INC.
• EXOSENS
• GALILEO GROUP INC.
• HANSA LUFTBILD AG
• HEADWALL PHOTONICS INC.
• HORIBA LTD.
• IMEC
• LLA INSTRUMENTS
• MALVERN PANALYTICAL LTD.
• NORSK ELEKTRO OPTIKK
• NORTHROP GRUMMAN
• ORNET SDN BHD
• PLANET LABS PBC
• RESONON INC.
• SPECIM SPECTRAL IMAGING LTD.
• SPECTIR
• SURFACE OPTICS CORP.
• XIMEA GMBH

Related Reports:

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