Hyperspectral Imaging System Market 2024 – Market Size, Emerging Trends, Market Opportunities, Key Drivers And Forecast To 2033 | Marriott International Inc., Hilton Worldwide Holdings Inc., Four Seasons Hotels Ltd., Accor Group, The Ascott Limited

The Hyperspectral Imaging System by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Hyperspectral Imaging System, The hyperspectral imaging system market size has grown rapidly in recent years. It will grow from $21.33 billion in 2023 to $25.35 billion in 2024 at a compound annual growth rate (CAGR) of 18.8%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rising healthcare expenditure, rising use of diagnostic medical imaging and rising advanced healthcare infrastructure.

The hyperspectral imaging system market size is expected to see rapid growth in the next few years. It will grow to $51.76 billion in 2028 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be attributed to increasing cancer cases, increasing geriatric population, increase in healthcare access and rise of autonomous vehicles. Major trends in the forecast period include focus on product innovations, collaborations and acquisitions, investments, technology advancements and using artificial intelligence.

The growing popularity of autonomous vehicles is expected to propel the growth of the hyperspectral imaging system market going forward. An autonomous vehicle is a motor vehicle that can operate without the assistance of a human driver. Hyperspectral imaging systems can significantly enhance the perception and decision-making capabilities of autonomous vehicles, making them more capable of navigating diverse and challenging environments with increased safety and efficiency. For instance, in 2021, according to the International Energy Agency, a Paris-based autonomous intergovernmental organization, data, the number of SUVs on the road worldwide climbed by more than 35 million in 2021. SUVs account for more than half of all cars sold in the US and Europe. SUVs are expected to account for almost 45 % of worldwide vehicle sales in the coming years. Therefore, the growing popularity of autonomous vehicles is expected to boost demand for the hyperspectral imaging system market.

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The hyperspectral imaging system market covered in this report is segmented –
1) Hyperspectral Imaging System Market By Product: Cameras, Accessories
2) Hyperspectral Imaging System Market By Technology: Push Broom, Snapshot, Other Technologies
3) Hyperspectral Imaging System Market By Application: Military Surveillance, Remote Sensing, Life Sciences and Medical Diagnostics, Machine Vision And Optical Sorting, Other Applications
4) Hyperspectral Imaging System Market By End user: Food and Agriculture, Healthcare, Defense, Mining and Metrology, Other End-Users

Top Major Players

Marriott International Inc.

Hilton Worldwide Holdings Inc.

Four Seasons Hotels Ltd.

Accor Group

The Ascott Limited

Major companies in the hyperspectral imaging systems market are focusing on product innovations and developing new product solutions to strengthen their position in the market. For example, in September 2022, Resonon, a US-based company that designs and manufactures hyperspectral imaging cameras and complete hyperspectral solutions, launched two new near-infrared (NIR) range (925‒1700 nanometer) hyperspectral imagers. The Pika IR-L is a lightweight and compact Near-Infrared (925-1,700 nm) imager and the Pika IR-L+. The new imagers are smaller, nearly three times lighter, and boast improved spectral resolution compared to the current generation of NIR imagers.

The hyperspectral imaging system market report table of contents includes:

1. Executive Summary

2. Hyperspectral Imaging System Market Characteristics

3. Hyperspectral Imaging System Market Trends And Strategies

4. Hyperspectral Imaging System Market – Macro Economic Scenario

5. Global Hyperspectral Imaging System Market Size and Growth

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32. Global Hyperspectral Imaging System Market Competitive Benchmarking

33. Global Hyperspectral Imaging System Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Hyperspectral Imaging System Market

35. Hyperspectral Imaging System Market Future Outlook and Potential Analysis

36. Appendix