Process Spectroscopy Market: By Component, Technology, By Application, and Geography  

Process Spectroscopy Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component (Hardware and Software), Technology (Molecular Spectroscopy, Mass Spectroscopy, and Atomic Spectroscopy), By Application (Polymer, Oil and Gas, Pharmaceuticals, Biotechnology Industry, Food and Agriculture, Chemicals, Water and Wastewater, Pulp & Paper, Metal & Mining, and Others), and Region  

Process Spectroscopy Market size was valued at US$ 18,558.0 million in 2023 and is poised to grow at a significant CAGR of 8.2% from 2024–2030. Process spectroscopy is a specialized technique involved in the analysis of the interaction between light, electromagnetic radiation, and matter. Process spectroscopy uses a wide range of devices, such as micro, benchtop, portable and hyphenated spectroscopes, signal processors, amplifiers, display units, and microscopes. Fourier Transform Infrared Spectroscopy (FT-IR), Raman spectroscopy, nuclear magnetic resonance (NMR), and Near-Infrared (NIR) have amid applications of process spectroscopy. Hence, it has various use cases across various industries, including healthcare, pharmaceuticals, food and agriculture, chemicals, water and wastewater, pulp & paper, metal & mining, biological research, and electronics. However, the increasing adoption of spectroscopic techniques in the pharmaceutical and food & agriculture sectors is driving the global market of process spectroscopy. The growing awareness of quality food & drugs and the government initiatives and support are the key factors expected to drive the growth of the global market. Moreover, the global players in this market are continuously influencing the market growth through constant innovations and new advanced products. Spectroscopy techniques are very popular in institutions and laboratories. With continuous innovations and amid investment in the research and development sector enhancing the techniques day by day has led to numerous discoveries in a wide range of applications. For instance, according to UNESCO, Global spending on R&D has reached a record high of almost US$ 1.7 trillion about 10 countries account for 80% of spending. As part of the Sustainable Development Goals (SDGs), countries have pledged to substantially increase public and private R&D spending as well as the number of researchers by 2030. The forensics department is another sector that will further boost the growth of the global process spectroscopy market.

Process Spectroscopy Market Key Developments:
  • In Feb 2022, Agilent Technologies acquired Virtual Control’s ACIES advanced artificial intelligence (AI) technology. ACIES will be integrated into Agilent’s gas chromatography and mass spectrometry (GS/MS) platforms to enhance productivity, efficiency, and accuracy at the many high-throughput labs they serve worldwide.
  • In April 2022, Bruker Corporation announced the acquisition of Optimal Industrial Automation and Technologies, a leader in pharma and biopharma process analytical technology (PAT), pharma manufacturing automation, and Quality Assurance (QA) software and systems integration.

Process Spectroscopy Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

8.2%

Largest Market

Asia Pacific

Fastest Growing Market

North America

Process Spectroscopy Market Dynamics

Rising demand for applications of spectroscopy in various industries driving the global process spectroscopy market. Molecular spectroscopy is very popular in the food and agriculture, pharmaceutical sector, and biotechnology sector. Molecular spectroscopy is leading the global market and is expected to continue contributing to the growth significantly over the forecast period. New products and technological advancements, significant demand in the petrochemical and chemical industries, and increasing requirements in the pharmaceuticals and life sciences are expected to propel the global process spectroscopy market growth. Spectroscopy is majorly used in biological therapeutics to enable accurate meta-detection in drug samples which will drive the global process spectroscopy market growth.

Process Spectroscopy Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 18,558.0 million

Market CAGR

8.2%

By Component

  • Hardware
  • Software

By Technology

  • Molecular Spectroscopy
  • Mass Spectroscopy
  • Atomic Spectroscopy

By Application

  • Polymer
  • Oil and Gas
  • Pharmaceuticals
  • Biotechnology industry
  • Food and Agriculture
  • Chemicals
  • Water and Wastewater
  • Pulp & Paper
  • Metal & Mining
  • Others

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market

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Frequently Asked Questions

The process spectroscopy market size was valued at US$ 18,558.0 million in 2023

The process spectroscopy market key players are: ABB Group Agilent Technologies, Inc. Bruker Buchi Labortechnik AG Danaher Corporation Foss Kaiser Optical Systems, Inc Kett Electric Laboratory Sartorius AG Shimadzu Corporation Thermo Fisher Scientific, Inc. Yokogawa Electric Corporation

The process spectroscopy market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

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Author

Sravani

Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of expe.....

1. Executive Summary
2. Global Process Spectroscopy Market Introduction
2.1. Global Process Spectroscopy Market – Taxonomy
2.2. Global Process Spectroscopy Market –Definitions
2.2.1. By Component
2.2.2. By Technology
2.2.3. By Application
2.2.4. By Region
3. Global Process Spectroscopy Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Process Spectroscopy Market Dynamic Factors - Impact Analysis
3.6. Global Process Spectroscopy Market – Competition Landscape
3.7. Epidemiology
4. Global Process Spectroscopy Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Process Spectroscopy Market, By Component, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.1. Hardware
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Software
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
6. Global Process Spectroscopy Market, By Technology, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.1. Molecular Spectroscopy
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Mass Spectroscopy
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Atomic Spectroscopy
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
7. Global Process Spectroscopy Market, By Application, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.1. Polymer
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Oil and Gas
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Pharmaceuticals
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Biotechnology industry
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Food and Agriculture
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Chemicals
7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.6.3. Market Opportunity Analysis
7.7. Water and Wastewater
7.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.7.3. Market Opportunity Analysis
7.8. Pulp & Paper
7.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.8.3. Market Opportunity Analysis
7.9. Metal & Mining
7.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.9.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.9.3. Market Opportunity Analysis
7.10. Others
7.10.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.10.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.10.3. Market Opportunity Analysis
8. Global Process Spectroscopy Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Asia-Pacific
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Latin America
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Middle East and Africa
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Global Process Spectroscopy Market - Opportunity Analysis Index, By Component, By Technology, By Application, and Region, 2024 - 2030
9. North America Process Spectroscopy Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Hardware
9.1.2. Software
9.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.2.1. Molecular Spectroscopy
9.2.2. Mass Spectroscopy
9.2.3. Atomic Spectroscopy
9.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.3.1. Polymer
9.3.2. Oil and Gas
9.3.3. Pharmaceuticals
9.3.4. Biotechnology industry
9.3.5. Food and Agriculture
9.3.6. Chemicals
9.3.7. Water and Wastewater
9.3.8. Pulp & Paper
9.3.9. Metal & Mining
9.3.10. Others
9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.4.1. USA
9.4.2. Canada
9.5. North America Process Spectroscopy Market - Opportunity Analysis Index, By Component, By Technology, By Application, and Country, 2024 - 2030
9.6. North America Process Spectroscopy Market Dynamics – Trends
10. Europe Process Spectroscopy Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
10.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Hardware
10.1.2. Software
10.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Molecular Spectroscopy
10.2.2. Mass Spectroscopy
10.2.3. Atomic Spectroscopy
10.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Polymer
10.3.2. Oil and Gas
10.3.3. Pharmaceuticals
10.3.4. Biotechnology industry
10.3.5. Food and Agriculture
10.3.6. Chemicals
10.3.7. Water and Wastewater
10.3.8. Pulp & Paper
10.3.9. Metal & Mining
10.3.10. Others
10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.4.1. Germany
10.4.2. UK
10.4.3. France
10.4.4. Spain
10.4.5. Italy
10.4.6. Rest of Europe
10.5. Europe Process Spectroscopy Market - Opportunity Analysis Index, By Component, By Technology, By Application, and Country, 2024 - 2030
10.6. Europe Process Spectroscopy Market Dynamics – Trends
11. Asia-Pacific Process Spectroscopy Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
11.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Hardware
11.1.2. Software
11.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Molecular Spectroscopy
11.2.2. Mass Spectroscopy
11.2.3. Atomic Spectroscopy
11.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Polymer
11.3.2. Oil and Gas
11.3.3. Pharmaceuticals
11.3.4. Biotechnology industry
11.3.5. Food and Agriculture
11.3.6. Chemicals
11.3.7. Water and Wastewater
11.3.8. Pulp & Paper
11.3.9. Metal & Mining
11.3.10. Others
11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.4.1. China
11.4.2. India
11.4.3. Japan
11.4.4. ASEAN
11.4.5. Australia & New Zealand
11.4.6. Rest of Asia-Pacific
11.5. Asia-Pacific Process Spectroscopy Market - Opportunity Analysis Index, By Component, By Technology, By Application, and Country, 2024 - 2030
11.6. Asia-Pacific Process Spectroscopy Market Dynamics – Trends
12. Latin America Process Spectroscopy Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
12.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Hardware
12.1.2. Software
12.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Molecular Spectroscopy
12.2.2. Mass Spectroscopy
12.2.3. Atomic Spectroscopy
12.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Polymer
12.3.2. Oil and Gas
12.3.3. Pharmaceuticals
12.3.4. Biotechnology industry
12.3.5. Food and Agriculture
12.3.6. Chemicals
12.3.7. Water and Wastewater
12.3.8. Pulp & Paper
12.3.9. Metal & Mining
12.3.10. Others
12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America
12.5. Latin America Process Spectroscopy Market - Opportunity Analysis Index, By Component, By Technology, By Application, and Country, 2024 - 2030
12.6. Latin America Process Spectroscopy Market Dynamics – Trends
13. Middle East and Africa Process Spectroscopy Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
13.1. Component Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Hardware
13.1.2. Software
13.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Molecular Spectroscopy
13.2.2. Mass Spectroscopy
13.2.3. Atomic Spectroscopy
13.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Polymer
13.3.2. Oil and Gas
13.3.3. Pharmaceuticals
13.3.4. Biotechnology industry
13.3.5. Food and Agriculture
13.3.6. Chemicals
13.3.7. Water and Wastewater
13.3.8. Pulp & Paper
13.3.9. Metal & Mining
13.3.10. Others
13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.4.1. Gulf Cooperation Council (GCC) Countries
13.4.2. South Africa
13.4.3. Rest of MEA
13.5. MEA Process Spectroscopy Market - Opportunity Analysis Index, By Component, By Technology, By Application, and Country, 2024 - 2030
13.6. MEA Process Spectroscopy Market Dynamics – Trends
14. Competition Landscape 
14.1. Strategic Dashboard of Top Market Players
14.2. Company Profiles (Introduction, Financial Analysis, Key Components, Key Developments, Strategies, and SWOT Analysis)
14.2.1. ABB Group
14.2.2. Agilent Technologies, Inc.
14.2.3. Bruker
14.2.4. Buchi Labortechnik AG
14.2.5. Danaher Corporation
14.2.6. Foss
14.2.7. Kaiser Optical Systems, Inc
14.2.8. Kett Electric Laboratory
14.2.9. Sartorius AG
14.2.10. Shimadzu Corporation
14.2.11. Thermo Fisher Scientific, Inc.
14.2.12. Yokogawa Electric Corporation
15. Research Methodology
16. Key Assumptions and Acronyms

Key Market Players

  • ABB Group
  • Agilent Technologies, Inc.
  • Bruker
  • Buchi Labortechnik AG
  • Danaher Corporation
  • Foss
  • Kaiser Optical Systems, Inc
  • Kett Electric Laboratory
  • Sartorius AG
  • Shimadzu Corporation
  • Thermo Fisher Scientific, Inc.
  • Yokogawa Electric Corporation

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