Description

The global optical spectroscopy market size is expected to grow at a CAGR of 10.5% from 2022 to 2030. Optical spectroscopy is a study of how matter interacts with electromagnetic radiation. It is basically the measurement of the interaction of light with various materials. This technique is used as a tool to analyze in various industries which, including pharmaceuticals. It is used to analyze metal content, the amount of active ingredient, the color of the sample, and the identity of the material.

Advancements in optical technologies by the telecommunication industry, an increasing number of government initiatives towards analyzing chemicals and others, and an increasing number of research and development initiatives across various industries are driving the global optical spectroscopy market. However, high production and maintenance costs are associated with optical spectroscopy, and a lack of highly skilled technicians are restraining the market growth.

Scope of the Global Optical Spectroscopy Market

The study categorizes the optical spectroscopy market based on component, waste type, method, and application at the regional and global levels.

By Methods Outlook

• Absorption
• Emission
• Luminescence
• Scattering

By Offering Outlook

• Equipment
• Services

By Form Factor Outlook

• Benchtop
• Portable

By Vertical Outlook

• Oil & Gas
• Metals and Heavy Machinery
• Automotive
• Scrap and Recycling
• Aerospace & Defense
• Chemicals
• Infrastructure
• Pharmaceuticals and Life Sciences
• Power Generation
• Food & Beverages
• Environmental

By Region Outlook

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • the Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of Latin America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Optical Spectroscopy Market, by Methods

Based on the methods, the optical spectroscopy is segmented into absorption, emission, luminescence, and scattering. The elemental compositions of various materials can be determined using optical emission spectroscopy. It is primarily used in the metal processing industry to examine bolts and rods, plates, wires, tubes, and other metallic samples. Optical emission spectroscopy products are typically designed to cover as many applications as possible. Scrap & recycling, oil & gas, energy & power, automotive, food & beverages, aerospace & defence, metals & heavy machinery, environmental, and others are some of the applications they find. Electronic system innovations pave the way for better and more accurate optical emission spectroscopy.

Stringent quality control requirements and safety regulations and high technological advancements and increased functionalities of technological products are the major drivers of the optical emission spectroscopy market growth. However, the high cost of OES equipment and the scarcity of skilled employees to operate OES equipment may limit the market growth. Furthermore, an increase in demand for multi-element analysis and increased government funding and research activities are expected to propel market growth even further.

Key Market Players in the global optical spectroscopy market:

Major players in the global optical spectroscopy market are:

• HORIBA, Ltd.
• Thermo Fisher Scientific
• Ametek
• Bruker
• Hitachi High Technologies Corporation
• Shimadzu
• PerkinElmer
• Agilent Technologies
• Skyray Instrument
• Analytik Jena

Key Issues Addressed

• What is the market size by various segmentation of the optical spectroscopy by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the optical spectroscopy market?
• What are the key opportunities and trends for manufacturers involved in the optical spectroscopy supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of optical spectroscopy in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.