24th February 2020 – Latest Research Report on Process
Spectroscopy Market begins with a deep introduction and then search broad
into specific segments such as raw material, application, end user, and region,
policy study, value chain structure, and upcoming trends in particular segments
or regions. The report on Process Spectroscopy prepare a case for investments
in different regions based on a practical view of their regulatory outline,
manufacturing dynamics, and availability of skills and resources in that
region.
Global Process Spectroscopy Market is
estimated to reach USD 25.10 billion by 2025 owing to the increasing acceptance
of several spectroscopy techniques. Spectroscopy is the interaction between
electromagnetic radiation and the matter. Process spectroscopy is the use of
spectroscopy to achieve real-time data to monitor and enhance a manufacturing
process. This technique is used for various applications according to unique
regulations and standards from different regulatory organizations.
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Process spectroscopy market is driven by
factors like increasing demand for superior quality manufactured goods, efforts
taken by food and healthcare industry to enhance their manufacturing processes,
and improved quality standards. Moreover, increasing regulations from
government concerning safety principles and mandatory rules for implementing
them are expected to fuel the market growth of process spectroscopy. Properties
of process spectroscopy like cost-effectiveness and time saving are stimulating
the demand for the technique, thereby encouraging process spectroscopy
industry.
However, lack of skilled labor followed
by significant initial investment is expected to obstruct the market growth of
process spectroscopy. Process spectroscopy market is witnessing opportunities
from modernizations in spectroscopic domain since it decreases the total
expenditure of product investigation and marketing by manufacturers.
Process spectroscopy industry is
categorized on the basis of technology, end user, and geography. On the basis
of technology, the market is divided into Raman spectroscopy, infrared (NIR)
spectroscopy, Fourier transform infrared (FT-IR) spectroscopy, etc. Infrared
(NIR) spectroscopy led the market earlier in terms of revenue. Among all, Raman
spectroscopy market is expected to hold larger market share of process
spectroscopy owing to its increasing popularity and acceptance in food,
agriculture and pharmaceutical industry.
Based on end user, process spectroscopy
market is divided into oil & gas, polymer, food & agriculture,
pharmaceutical, chemical, and others. In the previous years, pharmaceutical
industry led process spectroscopy industry followed by agriculture and food.
Chemical industry is expected to register maximum growth in the coming years
owing to its increasing use.
Geographically, process spectroscopy
market is divided into North America, South America, Europe, Asia Pacific and
Middle East & Africa. Asia Pacific is anticipated to dominate the market of
process spectroscopy owing to the prevalence of several leading market players
in the region.
The key players in process spectroscopy
industry are ABB Limited, Bruker Corporation, Horiba Limited, Agilent
Technologies, Inc., Foss A/S, Kett Electric Laboratory, Sartorius AG,
BuchiLabortechnik AG, Danaher Corporation, Thermo Fisher Scientific, Inc.,
Shimadzu Corporation, and Yokogawa Electric Corporation.
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