According to a new report, published by KBV research, The Global Multispectral Camera Market size is expected to reach $3.7 billion by 2030, rising at a market growth of 9.0% CAGR during the forecast period.
The Payloads segment is showcasing a CAGR of 8.6 % during the forecast period. Multispectral camera payloads are widely used in precision agriculture. Mounted on drones or agricultural vehicles, these payloads capture multispectral imagery, providing valuable data on crop health, vegetation indices, and nutrient levels. Farmers use this information for precision farming practices, optimizing crop yields, and reducing resource usage.
The Land segment generated the highest revenue in the Global Multispectral Camera Market by Platform in 2022; thereby, achieving a market value of $1.5 billion by 2030. The increasing adoption of multispectral cameras on land reflects the versatility and effectiveness of this technology in addressing a wide range of challenges and opportunities across different industries. As technology advances, the applications of multispectral imaging on land are expected to increase, further driving its adoption in various sectors.
The Mid-Wave Infrared (MWIR) segment is registering a CAGR of 8.3 % during the forecast period. The demand for the mid-wave infrared MWIR segment is driven by the technology's ability to capture thermal information, making it invaluable for applications requiring thermal imaging, night vision, and the detection of temperature variations. The diverse range of applications, from defense and security to environmental monitoring and industrial processes, contributes to the growing adoption of MWIR multispectral cameras.
The Uncooled segment led the Global Multispectral Camera Market by Cooling Technology in 2022; thereby, achieving a market value of $2 billion by 2030. Uncooled multispectral cameras are generally more cost-effective compared to their cooled counterparts. The absence of a cooling system, such as cryogenic cooling, reduces manufacturing costs and makes these cameras more affordable for a wider range of applications and industries. Additionally, uncooled cameras require less maintenance compared to cooled ones. Hence, uncooled technology's low maintenance and cost-effectiveness propel the segment's demand.
The Intelligence, Surveillance & Reconnaissance segment is growing at a CAGR of 8.2 % during the forecast period. Multispectral cameras assist in detecting and identifying targets by capturing images in different spectral bands. This allows for better discrimination between objects and facilitates the identification of specific materials or characteristics that might be challenging to discern with traditional imaging systems. Furthermore, multispectral imaging helps in detecting camouflage and concealment efforts. By capturing images in various bands, multispectral cameras can reveal discrepancies or anomalies in the spectral signature of the surroundings, making it easier to identify hidden objects or camouflaged targets.
Full Report: https://www.kbvresearch.com/multispectral-camera-market/
The North America region dominated the Global Multispectral Camera Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.2 billion by 2030. The Europe region is anticipated to grow at a CAGR of 8.7% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 9.5% during (2023 - 2030).
By End Use
By Platform
By Imaging Spectrum
By Cooling Technology
By Application
By Geography
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