The increasing adoption of various
spectroscopic techniques in a variety of industrial applications, including
chemicals, oil & gas, pharmaceutical, and food and agriculture, is expected
to propel the overall market growth.
The global process spectroscopy market size is estimated to
reach USD 25.10 billion by 2025, according to a new report by Grand View
Research, Inc., progressing at a CAGR of 7.5% during the forecast period.
Growing efforts in the pharmaceutical industry to undertake advanced research
and development is leading to increased adoption of various spectroscopy
techniques over the forecast period.
Moreover, the need to abide by the necessary
specifications to maintain the standard and quality specifications is pushing
the manufacturers and packaging industries to adopt spectroscopic techniques,
eventually, catapulting the demand for process spectroscopy to instigate
further growth.
Access Research Report of Process Spectroscopy Market @ www.grandviewresearch.com/industry-analysis/process-spectroscopy-market
Process
spectroscopy market by technology, 2015 (USD Billion)
The
technology segment is further categorized into molecular, mass, and atomic
technologies. The molecular technology segment held maximum market and revenue
in 2015 and is estimated to maintain its dominance over the coming years.
Furthermore,
the molecular technology has led to the evolution of different technologies
such as Near Infrared (NIR), Fourier-Transform Infrared (FT-IR), Nuclear
Magnetic Resonance (NMR), and Raman spectroscopy. The ever-increasing demand
and growing adoption of Raman spectroscopy is playing a respectable role in
flourishing the global market.
The
key industry players, such as ABB Group, Shimadzu Corporation,
Sartorius AG, and Kett Electric Laboratory in the North
American, European, and the Asia Pacific continents, have been extensively
investing in R&D of spectroscopy technologies and related techniques. These
innovations are generating a substantial demand for spectroscopy equipment in
several industrial applications across the globe.
The
growing adoption of technology in pharmaceutical and food & agriculture
applications across the Asia Pacific region has led to the enhanced growth over
the projected period. The demand arising from these nations coupled with the
established oil & gas sector in the Middle Eastern region is another
factor, playing a key role in attracting the applications of process
spectroscopy, therefore, paving the way for a better and continuously growing
future of the process spectroscopy market across the globe over the estimated
time.
Access Press Release of Process Spectroscopy Market@ www.grandviewresearch.com/press-release/global-process-spectroscopy-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More Information: www.grandviewresearch.com
