The global hyperspectral imaging in agriculture market is projected to reach $56.88 million by 2026, reveals the premium market intelligence study by CRI Report. The study also highlights that the market is set to witness a CAGR of 11.93% during the forecast period from 2021-2026.
Hyperspectral imaging, like other spectral imaging techniques, collects and processes information from across the electromagnetic spectrum. The goal of hyperspectral imaging is to obtain the spectrum for each pixel in the image of a scene, with the purpose of finding objects, identifying materials, or detecting processes.
Hyperspectral imaging in agriculture allows to significantly extend the range of farming issues and applications that can be addressed using remote sensing. A hyperspectral camera can detect plant diseases, weeds, soil erosion problems, and can also estimate crop yields.
USP of the Report
• This report covers major regions with established hyperspectral imaging in agriculture market.
• Porter’s Five Forces Analysis has been done for analyzing the competition in the hyperspectral imaging in agriculture business. The five forces include threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitutes, and intensity of competitive rivalry.
• Extensive competitive benchmarking of the top 15 players (including OEMs and equipment providers) has been done to offer a holistic view of the global hyperspectral imaging in agriculture market landscape.
According to this report, “The hyperspectral imaging in agriculture market is expected to be a great solution for a wide range of issues in the agricultural industry. Through a better adoption of the technology, issues such as global food demand and presence of pathogens in crops can be addressed and agricultural yield can be maximized.”
Key Companies Operating in the Market
Analytik Ltd., BaySpec, Inc., Corning Incorporated, Cubert GmbH, FluroSat, Gamaya, HAIP Solution GmbH, Imec, ImpactVision, Inno-spec GmbH, INO, Malvern Panalytical Ltd, Resonon Inc., Surface Optics Corporation, Teledyne FLIR LLC
Key players operating in the global hyperspectral imaging in agriculture market analyzed and profiled in the study involve original equipment manufacturers (OEMs) that provide the required equipment for deploying hyperspectral imaging in agriculture.
Moreover, a detailed competitive benchmarking of the players operating in the global hyperspectral imaging in agriculture market has been done that will help the reader to understand how players stack against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Global AI in Agriculture Market by Offerings (Hardware, Software and Services); By Technology (Machine Learning, Predictive Analytics and Computer Vision); By Application (Livestock Monitoring Application, Precision Farming Application, Agriculture Robots Application, Drone Analytics Application and Others); By Region (North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa) – Analysis of market share, size & trends for 2016-19 and forecasts to 2030
Market Segmentation of Global Hyperspectral Imaging in Agriculture Market
Product: Hyperspectral imaging in agriculture market in the product segment is dominated by hyperspectral imaging cameras. These cameras are the primary equipment that are required to capture hyperspectral images, and data collected by the cameras is processed after. With a hyperspectral camera, the light is captured through a lens and split into different spectral lengths by a dispersive element such as a prism or a diffraction grating.
Application: Hyperspectral imaging in agriculture market in the application segment is dominated by stress detection. Hyperspectral imaging is primarily focused on monitoring crop health and maintaining a better yield. Thus, stress detection in the plant is leading the application segment of the market.
Region: North America generated the highest revenue of $10.06 million in 2020, which is attributed to the technological advancements in the North America region. In the region, government support along with technological advancement has helped in the growth of the market. Also, leading players in the hyperspectral imaging in agriculture market are operating in the North America region, which gives a wide range of options to the growers purchasing hyperspectral imaging-based equipment. The region is expected to witness high growth of CAGR 13.16% during the forecast period.
Key Questions Answered in the Report
• What is the estimated global hyperspectral imaging in agriculture market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
• What are the key trends, market drivers, and opportunities in the market pertaining to hyperspectral imaging in agriculture?
• What are the major restraints inhibiting the growth of the global hyperspectral imaging in agriculture market?
• What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
• What is the competitive strength of the key players in the hyperspectral imaging in agriculture market based on an analysis of their recent developments, product offerings, and regional presence?
• How is the competitive benchmarking of the key hyperspectral imaging in agriculture companies in the agriculture market based on the analysis of their market coverage and market potential?
• How much revenue is each segment expected to record during the forecast period, along with the growth percentage? The segments are as follows:
o Product, including camera, artificial light source, image processor, and others
o Application, including yield estimation, crop disease monitoring, impurity detection, stress detection, vegetation mapping, and others
o Region, including North America, the U.K., Europe, Asia-Pacific and Japan, China, the Middle East and Africa, and South America
• Which are the types of players and stakeholders operating in the market ecosystem of hyperspectral imaging in agriculture, and what is their significance in the global market?