Published Date: 28-Jul-22
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According to a new report, published by KBV research, The Global Process Spectroscopy Market size is expected to reach $26.9 billion by 2028, rising at a market growth of 7.4% CAGR during the forecast period.
The Molecular market shows high market share in the Global Process Spectroscopy Market by Technology in 2021, thereby, achieving a market value of $18.6 billion by 2028. The market is likely to develop due to the downsizing of molecular spectroscopy devices and advancements in Raman technology. In addition, there is a growing demand in the pharmaceutical and life sciences industries, as well as substantial need in the petrochemical and chemical industries.
The Software market would witness a CAGR of 8.9% during (2022 - 2028). Component vendors who provide detectors, sensors, attractive sources, and microscopes make up the process spectroscopy market's supply chain. Spectrum analysis tools, spectroscopy pro-tools, Linux drivers, and other software are used in process spectroscopy. The cost of spectrometers is largely determined by the availability, and quality of the materials and equipment used in their construction.
The Food & Agriculture market is anticipated to grow a CAGR of 6.9% during (2022 - 2028). Raman spectroscopy is gaining popularity in the food and agricultural industries because to its capacity to obtain physical and chemical information from specimens of vegetables, fruits, and grains without destroying them. It also aids in the quick inspection of various food items.
The North America market is leading the Global Process Spectroscopy Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10,360.6 million by 2028. The Europe market is poised to grow a CAGR of 6.7% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 9.3% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Thermo Fisher Scientific, Inc., ABB Group, Bruker Corporation, Horiba Ltd., Agilent Technologies, Inc., Danaher Corporation, Shimadzu Corporation, Yokogawa Electric Corporation, Sartorius AG and BUCHI Labortechnik AG.
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