Spectroscopy Software is used by enterprises for measurement of spectra produced by matter. With the help food manufactures can easily measure protein, moisture, and fat content.
Market Dynamics
Technological advancements in electronic devices and wide applicability of Spectroscopy in food testing and environment testing are major factors expected to drive the growth of global spectroscopy software market. Spectroscopy is used for the measurement of spectrum produced by the matter interacting radiation. Consumer approach towards food consumption is chancing; demand for better quality food is increasing. Government of developed and developing countries are imposing various regulation related to production and supply of food. Manufacturers are inclining towards adoption of automation in order to maintain the quality standards of the food and raw materials. With the increasing percentage of food adulteration issues demand for advanced solution such as molecular spectroscopy and ultraviolet-visible (UV-Vis) that measures the protein, moisture, and fat content in food is on rise. Increasing food production with the help of modern techniques and focus on maximizing the output along with maintaining the crop health is resulting in demand for spectrometers equipment that provides accurate spectral data is expected to augment the growth of spectroscopy software market.
Manufactures investment for product development activities is increasing they are focused on introduction of innovative solutions in order to attract new customers this is expected to augment the growth of global spectroscopy software market.
In 2020, Exum Instruments, Inc. a next generation scientific instruments and software manufacturer launched Massbox that analyzes a variety of samples and is enabled with hardware and software that speed the rate of discovery and development processes. This is expected to help the company to enhance the product portfolio.
In 2020, John Wiley & Sons, Inc. launched KnowItAll spectroscopy software the software features a new streamlined interface and tools to accelerate the spectral analysis of unknown compounds. This product Launch is expected to help the company to enhance the business and increase the revenue share.
Major players are focused on enhancing the business and through strategic merger & acquisition activities along with partnership with regional players in order to strengthen the distribution channel are factors expected to support the growth of spectroscopy software market. In 2020, John Wiley and Sons Inc. a global leader in research and education acquired Bio-Rad Laboratories, Inc.’s Informatics products including the company’s spectroscopy software and spectral databases. This acquisition is expected to help the company to enhance the business and increase the customer base. Factor such as high cost of product and lack of required infrastructure for deployment of advanced solution are expected to hamper the growth of global spectroscopy software market. In addition, high initial cost associated to installation and maintenance is expected to challenge the growth of spectroscopy software market. However, increasing focus on integration of AI in software and increasing enterprise inclination toward adoption of cloud are factors expected to create new opportunities for players operating in the spectroscopy software market. In addition, favourable business policies by the government and emergence of small & mid-sized enterprises with advanced solution are factors expected to support the revenue transaction.
Segment Analysis by Region
The market in North America is expected to account for major revenue share in the global spectroscopy software market due to stringent government regulation related to food processing industry. In addition, presence of large number of players operating in the country and introduction of innovative solutions are factors expected to support the growth of regional market.
Increasing enterprises adoption for determining air quality, climate dynamics, and the presence of pollutants is expected to boost the spectroscopy software market growth.
Competitive Landscape
The global spectroscopy software market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Report coverage
|
Market
|
Global Spectroscopy Software Market
|
|
Analysis Period
|
2016 – 2027
|
|
Base Year
|
2019
|
|
Forecast Data
|
2020 – 2027
|
|
Market Stratification
|
Deployment Type, Application and Geography
|
|
Regional Scope
|
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
|
|
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
|
Spectroscopy Software Market Segment Analysis, 2019
The global spectroscopy software market is segmented into deployment type and application. The deployment type segment is bifurcated into cloud and on-premises. Among the deployment type the cloud segment is expected to witness faster growth in the target market due to increasing enterprise inclination towards adoption of cloud solution. The application segment is divided into food testing and environment testing. The players profiled in the report OpenMS, Advanced Chemistry Development, MS Wil B.V, Scientific Instrument Services by Adaptas Solutions, Lablicate GmbH, Microsaic Systems plc, SpectralWorks Ltd, Thermo Fisher Scientific Inc, Bruker, Shimadzu Scientific Instruments, WATERS, Genedata AG, AB Sciex Pte Ltd, and Agilent Technologies, Inc.
Market Segmentation
Market By Deployment Type
Cloud
On-Premises
Market By Application
Food Testing
Environment Testing
Market By Region
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
