Europe Hyperspectral Imaging Market Size, Share & Trends Analysis Report By Product (Camera, Accessories), By Application (Military, Remote Sensing, Medical Diagnostics), And Segment Forecasts, 2022 - 2030

Report Overview

The Europe hyperspectral imaging market size was valued at USD 2.90 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 9.4% from 2022 to 2030. The growing use of HSI, also known as an imaging spectrometer, in a variety of fields, including the chemical, pharmaceutical, medical diagnostics, food, agricultural, aerospace, and defense industries, is anticipated to fuel the industry expansion. Technological advancements such as sensor design, high spectral resolution, high spatial resolution, compactness, integration with software, and lightweight devices, are further expected to boost the market growth. For instance, in November 2020, Imec and XIMEA collaborated to launch, a hyperspectral camera solution that meets the high requirements for machine vision applications.

Hyperspectral imaging is an efficient technology since it is a non-invasive, non-contact, non-destructive tool, and provides detailed images that disclose the most spectrum information possible for each pixel of the image, unlike other technologies. HSI has been widely employed in a variety of fields and applications, including the detection of rock minerals, the diagnosis of plant diseases in crops, diagnostic imaging, and the detection of foreign contaminants in food processing. Furthermore, HSI is a developing imaging technique for use in medicine, particularly in the diagnosis of disease and image-guided surgery. Due to its ability to identify biochemical alterations brought on by the onset of diseases, such as changes in cancer cell metabolism, HSI holds great potential for disease screening, detection, and diagnosis.

This, in turn, is expected to bode well for the market. An increase in awareness and initiative events & conferences supporting advanced HSI is expected to drive the industry. For instance, the Photonex organization conducts exhibitions on photonics and optical technologies annually in the U.K. In December 2022, it is hosting a conference on HSI technology. These conferences are increasing the reach of advancements in hyperspectral technology, thereby contributing to the industry's growth. Furthermore, the launch of the Hyperspectral Remote-Sensing Center in the region to support the implementation and utilization of HSI technology is expected to boost the market growth.

For instance, in November 2019, Headwall and geo-konzept established the Center for Hyperspectral Remote Sensing Europe to collaborate with researchers and users to develop applications in the areas of agriculture, mining, and environmental monitoring, as well as infrastructure inspection. As a result of the COVID-19 pandemic, the healthcare system had to deal with severe challenges. The pandemic had an effect on the healthcare supply chain. Lack of raw materials and transportation problems led to a decline in the production of imaging devices, which, in turn, led to a generalized disruption of business. However, the market is gradually returning to normal, as the lockdown limitations have been lifted.

Product Insights

On the basis of products, the industry has been further sub-segmented into cameras and accessories. The camera product segment dominated the industry in 2021 and accounted for the maximum share of more than 52.95% of the overall revenue. The segment is anticipated to expand further at the fastest growth rate maintaining its leading position in the industry during the forecast period. The high share of this segment can be attributed to factors like recent developments in sensor technology. High-speed and inexpensive circuits, sophisticated manufacturing techniques, and unique signal processing techniques are some of the recent innovations.

The quality, economic efficiency, and reliability of technical products are expected to enhance as a result of these improvements. The hyperspectral camera measures light intensity throughout a broad spectrum of spectral bands; as a result, each pixel in the image contains a continuous spectrum that may be utilized for accurate and thorough object identification. In addition, it is anticipated that the availability of inexpensive cameras and expanding computer power would further accelerate the use of these devices, which, in turn, will augment the segment growth during the forecast period.

Application Insights

Based on application, the industry has been further segmented into military, remote sensing, medical diagnostics, machine vision & optical sorting, and others. The military segment held the largest market share of more than 25.85% in 2021 owing to the improvements in component manufacture and data handling. The segment is expected to expand further at a steady CAGR from 2022 to 2030 owing to factors, such as improved consistency and accuracy compared to other traditional imaging modalities. Furthermore, growing uses of HSI, such as the detection of nighttime enemy activity, the depth measurement of hidden bunkers, and the location of improvised explosive devices, are expected to contribute to the segment expansion. The medical diagnostics segment is expected to register the fastest CAGR from 2022 to 2030.

The presence of disorders that are challenging to detect using other tools can be precisely pinpointed by healthcare professionals using HSI. The diagnostic information regarding the tissue physiology, morphology, and composition is provided by spatially resolved spectrum imaging produced by HSI. Hyperspectral imaging has enormous potential for noninvasive disease diagnosis and surgical guidance in a wide range of applications, such as ophthalmology, procedures of the gastrointestinal tract, wound analysis, fluorescence microscopy, cell biology, and vascular systems. In addition, the non-invasive nature of HSI serves as an advantage for evaluating burns and skin inflammation. During the forecast period, it is projected that the technology’s high clarity and accuracy would open up new growth prospects in the field of medical diagnostics.

Key Companies & Market Share Insights

Major players are working to improve their service offerings by upgrading their imaging services and exploring acquisitions, partnerships, and government clearances to expand their customer base and gain a larger share of the overall market. For instance, in July 2022, Headwall Photonics, a leader in high-performance HSI systems, announced its strategic growth investment in perClass BV. perClass is the provider of a spectral analysis software package that connects with numerous spectral sensors and provides user-friendly HSI analysis for sophisticated machine vision applications in research, industry, and other commercial deployments. Some of the prominent players in the Europe hyperspectral imaging market include:

• Imec

• XIMEA GmbH

• Resonon, Inc.

• Headwall Photonics, Inc.

• Telops, Inc.

• Corning, Inc.

• Norsk Elektro Optikk AS

• Cubert GmbH

• EVK DI Kerschhaggl GmbH

• Inno-spec GmbH

• SPECIM Spectral Imaging Ltd.

• Diaspective Vision GmbH

Europe Hyperspectral Imaging Market Report Scope

Europe Hyperspectral Imaging Market Segmentation

This report forecasts revenue growth at the regional level and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the Europe hyperspectral imaging market report on the basis of product and application:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Camera

  • Accessories

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Military

  • Remote Sensing

  • Medical Diagnostics

  • Machine Vision & Optical Sorting

  • Others