Increase in R&D investment, technological advancements in mass spectrometry, surge in industrialization across the world, and developments in the food & beverages, chemicals, and manufacturing industries drive the growth of the global portable spectrometer market. Based on application, the life sciences segment generated the highest share in 2020. By region, on the other hand, the market across Asia-Pacific would manifest the fastest CAGR by 2030.
Portland, OR, Oct. 04, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global portable spectrometer market was estimated at $1.67 billion in 2020 and is expected to hit $4.06 billion by 2030, registering a CAGR of 9.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in R&D investment, technological advancements in mass spectrometry, surge in industrialization across the world, and developments in the food & beverages, chemicals, and manufacturing industries drive the growth of the global portable spectrometer market. On the other hand, fluctuating currency exchange rates impede the growth to some extent. However, surge in use of mass spectrometry techniques is expected to pave the way for lucrative opportunities in the industry.
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The outbreak of the pandemic led to delayed manufacturing and production of portable spectrometers, thereby impacting the market growth negatively.
Nonetheless, the global situation is getting better at a slow and steady pace, and the market is anticipated to get back on track soon.
The global portable spectrometer market is analyzed across product type, distribution channel, application, and region.
Get detailed COVID-19 impact analysis on the Portable Spectrometer Market Request Here
Based on product type, the optical spectrometer segment accounted for the major share in 2020, holding more than two-fifths of the global portable spectrometer market. The mass spectrometer segment would exhibit the fastest CAGR of 9.5% throughout the forecast period.
Based on application, the life sciences segment generated the highest share in 2020, accounting for more than two-fifths of the global market. The food and agriculture segment is projected to manifest the fastest CAGR of 10.2% from 2021 to 2030.
Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, however, is expected to cite the fastest CAGR of 10.3% by the end of 2030. The other provinces studied in the report include Europe and LAMEA.
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The key market players analyzed in the global portable spectrometer market report include Agilent Technologies, Inc., Thermo Fisher Scientific Inc., ABB Ltd., Hitachi High-Tech Corporation, Metrohm AG, Perkinelmer Inc., Bruker Corporation, Anton Paar GmbH, Jasco Corporation, and MKS Instruments, Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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