Market Introduction

The global hyperspectral imaging in agriculture market was valued at USD 14 million in 2023 and grew at a CAGR of 18% from 2024 to 2033. The market is expected to reach USD 73.27 million by 2033. The increasing demand for sustainable agricultural practices will drive the growth of the global hyperspectral imaging in agriculture market.

Hyperspectral imaging (HSI) in agriculture is a system which is capable of acquiring light from a broad range of wavelengths with much detail than the human eye can discern. This capability makes it possible to recognize and characterize different materials, depending on the spectral characteristics – patterns of light absorption and reflection. In agriculture, hyperspectral imaging plays an essential role for monitoring the conditions of the crops, the quality of the soil and resource utilization. The spectral data can be used by farmers to identify when plants are stressed by diseases, pests or unfavourable environmental conditions before showing any signs. Early detection makes early intervention possible leading to an increase in yield and reducing the cost of inputs. The technology is commonly applied in precision agriculture as it helps in evaluation of crops’ health condition. For example, hyperspectral sensors are capable of determining chlorophyll index and other pigment indexes which would reflect photosynthesis rate and status of the plant. Such information can help farmers use fertilizers and pesticides more effectively. It defines the when, where, and how of fertilizer and pesticide use, which also avoids contamination of the environment. In addition, hyperspectral imaging can be used in soil assessment where information on soil moisture, texture, and nutrient content can be evaluated using the camera. When integrated with the data collected on plant health, farmers can apply specific management techniques that would increase yield and improve soil health. Technological innovations in drones and satellites have made hyperspectral imaging affordable for farmers.

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Recent Development

• Sentera, a provider of agricultural imaging sensors, stated that Inspired Flight Technologies, an American company that makes unmanned aerial vehicles, would be integrating its 65R and 6X series cameras on a drone platform.  Customers can benefit from science-grade multispectral photography and high-resolution global shutter mapping capabilities thanks to this integration.  The 65R is an RGB aerial sensor with ultra-high resolution that allows for simple drone integration without sacrificing image quality. With a continuous 3Hz global shutter imaging capture rate, the 65R generates exceptional visual-band imagery. The science-grade multispectral data provided by the 6X and 6X heat sensors includes six independent synchronized optical channels, bespoke filtering choices, and high radiometric accuracy. Agronomists and agricultural researchers employ the 6X series sensors.

Market Dynamics

Drivers

The increasing need of sustainable agricultural practices – The need for sustainability has gained traction in the recent past given the various challenges such as climate change and population increase. Demographic reports estimate that people’s number will increase up to 9.7 billion in 2050, thereby, driving the need to produce food for the growing world’s population. Sustainable farming policy aspires to deliver this supply with minimal environmental repercussions and also conserving the natural resources for the future. Sustainable farming addresses drawbacks such as pollution associated with traditional/conventional farming. Sustainable farming improves the fertility of soils while conserving water, reducing dependability on chemicals and also promotes diversity. These practices save cost for farmers and also lower greenhouse contribution by the agricultural sector. Also, the shifting customer understanding of food sources and related ecological consequences indicates escalating consumer interest in purchasing sustainably produced food. Finally, only sustainable farming techniques will guarantee the food security of the future, safety of the environment, and stability of rural economies, which makes sustainable farming indispensable for the development of a reliable agriculture foundation.

Restraints

The high costs associated with hyperspectral imaging – The costs associated to HSI comprise of many aspects such as calibration of specialized sensors, data acquisition devices and sophisticated software tools for data analysis and interpretation. Such components are usually expensive, and this may not be affordable by small and medium scale farms. Furthermore, the sensors used in hyperspectral imaging are much more complex than simple imaging devices, which adds a greater level of cost than with ordinary sensors. HSI systems are complex and call for fine-tuning as well as regular servicing which adds to the operating costs. This too increases the overall costs because farmers may require the services of experts to analyse the spectral data or train their personnel to do so. Furthermore, the performance advantages of HSI in improving crop management and consequently the yields are clear and measurable, however, the ROI may take some time. This could translate to a lack of willingness to incorporate expensive technology where the benefits are not assured immediately. Therefore, the high initial cost of implementing hyperspectral imaging technology and the unpredictable return on investment limit the practical application of hyperspectral imaging technology for agricultural use.

Opportunities

Technological advancements expanding hyperspectral imaging in agriculture applications – technological advancements have greatly upgraded hyperspectral imaging in agriculture to expand its applications, ease of use, accessibility and affordability. For instance, autonomous aerial platforms have enhanced capabilities in sensors to capture images, gather information over the area of interest at a single look. It is a tool for the delivery of timely information relevant to decisions on when to irrigate, fertilize and use pesticides, among others, thereby enhancing crop production and utilization of resources. In addition, the IoT has been adopted in farming resulting in the creation of smart farming. Mobile applications and platforms further facilitate access to agricultural data, providing farmers with tools to track their operations, analyse performance, and connect with experts. These technological advancements not only improve productivity and efficiency but also promote sustainability by minimizing resource waste and environmental impacts. As technology continues to evolve, its role in agriculture will likely expand, driving innovation and supporting the global need for sustainable food production and the global hyperspectral imaging in agriculture market’s growth.

Segment Analysis

Regional segmentation analysis

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global hyperspectral imaging in agriculture market, with a 39% market revenue share in 2023.

The region’s agricultural technology is well developed, the investment on agriculture technology research is high and the region is home to numerous market players who develop and manufacture these technologies. This synergy enables a fast integration of such advanced technologies such as hyperspectral imaging to advance crop management and increase yields in agriculture. North America has been implementing precision agriculture technologies from early time. Large scale farming is rife for the agricultural sector in North America making HSI relevant owing to the management challenges that characterize large scale farming. Furthermore, the fact that the region focuses heavily on sustainability and environmental protection makes the hyperspectral imaging efficient in the region. Also, there are forefront research institutions and agricultural universities executing innovative research and incubating vigorous learning environment in North America which in turn drives the advancement and incorporation of HSI in agriculture.

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• A helpful method for examining the chemical makeup of food and agricultural goods is hyperspectral imaging. A group of researchers from the University of Illinois Urbana-Champaign has created a technique that uses deep machine learning to recreate hyperspectral images from RGB standard photographs. This method has the ability to completely transform product assessment in the agriculture sector and significantly streamline the analytical procedure.

Component Segment Analysis

The component segment is divided into hardware and software. The software segment dominated the market, with a market share of around 52% in 2023. Software has emerged as a key segment of hyperspectral imaging (HSI) market in agriculture due to its indispensability in processing, analysing and visualizing spectral data that hyperspectral sensors gather. While physical systems including hyperspectral cameras or spectrometers may be used in data acquisition which is important for decision making, it is the software which translates this raw data into information which can be useful to farmers. This capability of software makes it easy for farmers to make sound decisions. In addition, visualization software improves the interaction between the user and the data being analysed through presentation of the information required in an easily understandable format. This increased user friendliness provides farmers with graphs and interfaces that they can understand.

Application Segment Analysis

The application segment is divided into crop monitoring, soil analysis, pest and disease detection, irrigation management, and nutrient management. The crop monitoring segment dominated the market, with a market share of around 35% in 2023. Crop monitoring is the most popular use of hyperspectral imaging (HSI) for agriculture because of its importance in boosting crop yields and efficiency. Since climate change, pest attack, and demands for food are putting much pressure on farmers making crop monitoring a vital tool in making the right decisions. HSI technology helps farmers to track almost all the factors: chlorophyll, moisture, and completeness of the plant are vital elements that characterize the health of crops. Such information enables efficient practices to be applied which help in increasing yields but reducing cost.

• Wyvern, a Canadian firm in remote sensing, is growing south of the border.  The Edmonton-based business, which claims to have the most high-resolution hyperspectral photography available, has raised $6 million in order to grow into the commercial and defense sectors in the United States, among other things.  Leading the fresh round of fundraising was Squadra Ventures, a company that specializes in supporting businesses in the national security and cyberspace. In order to expand in that market, Wyvern has already formed a subsidiary in the United States. Co-founder Kurtis Broda told TechCrunch that partnering with Squadra was a "natural fit."

Platform Segment Analysis

The platform segment is divided into ground-based systems, airborne systems, and satellite systems. The ground-based systems segment dominated the market, with a market share of around 38% in 2023. Ground based systems are more prevalent in the HSI market for agriculture due to their relative availability, versatility and high-quality data capture. Compared to aerial or orbital systems, ground-based platforms can be placed directly into fields to provide high-resolution inspection of crop or soil quality. This proximity allows farmers to get high resolution imagery as well as spectral data which is crucial for accurate evaluation of the physiological and nutritional status of the plants and the conditions in the fields. The other benefit, which only ground-based systems offer, is the option for repeated observations over relatively long periods of time. In addition, improved technology in sensors and data processing software for ground-based systems continue to develop making the systems as efficient as airborne ones to provide accurate data that promotes efficient farming. Therefore, ground-based systems shall retain its dominance in the hyperspectral imaging market in agriculture.

Type Segment Analysis

The type segment is divided into reflectance imaging, emission imaging, and transmittance imaging. The reflectance imaging segment dominated the market, with a market share of around 42% in 2023. Reflectance imaging technique is based on using spectral reflectance data from plant surface and performing quantitative analysis of various characteristics. One of the strengths of reflectance imaging is that it is non-invasive, and, can therefore be used to inspect crops without harming them. Moreover, the application of reflectance imaging has gone through improved development hence becoming popular and affordable. Reflectance imaging systems are easy to use and flexible allowing farmers to modify them to suit the cropping system and field conditions.

Crop type Segment Analysis

The crop type segment is divided into cereals and grains, fruits and vegetables, oilseeds, and others. The cereals and grains segment dominated the market, with a market share of around 43% in 2023. The high importance of cereals and grains in food security and agricultural economies make them the dominant user of hyperspectral imaging (HSI). Staple crops like cereals are major food crops which are basic human foods needed to feed the increasing world population. The importance of these crops justifies the development of better methods of monitoring and controlling these crops hence making hyperspectral imaging important to the cereal and grain farming industries. Furthermore, the very size of cereal production, which may include extensive fields, speaks for the efficiencies of the monitoring systems in question. Since consumers worldwide are demanding more cereals and grains daily, strategies such as hyperspectral imaging will be crucial in meeting production needs. The continued significant production of cereals and grains in agriculture together with the effort to practice accurate farming makes hyperspectral imaging essential tool for effective and efficient crop management in this vital agriculture sector.

Some of the Key Market Players

• Applied Spectral Imaging
• Banyan Water
• CropX
• Gamaya
• GeoSnap
• Headwall Photonics
• ITRES Research Limited
• Pictoria
• Resonon, Inc.
• Sentera
• Specim, Spectral Imaging Ltd.
• Zonda Technologies

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