The Key Elements of the Research Report in Detailed?
The key factors driving the growth of Infrared and Terahertz Spectroscopy Market are the stringent regulations in the pharmaceutical industry, increasing food safety concerns & technological advancements
Worldwide Growth Opportunities in Terms of Revenue:
The infrared spectroscopy market is expected to reach USD 1.3 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 5.2% during the forecast period.
The terahertz spectroscopy market is expected to reach USD 45 million by 2025 from USD 30 million in 2020, at a CAGR of 8.3% during the forecast period.
The mid-infrared radiation segment to hold the largest market share in 2020.
Based on spectrum, the infrared spectroscopy market is segmented into mid-infrared radiation, near-infrared radiation and far-infrared radiation. In 2020, the mid-infrared radiation segment is expected to command the largest share of the infrared spectroscopy market. The increase in the number of healthcare and pharmaceuticals applications and extensive usage in the food industry are driving the growth of this segment.
The semiconductor segment to hold the largest Infrared and Terahertz Spectroscopy Market share in 2020.
Based on application, the terahertz spectroscopy market is segmented into semiconductor, homeland security, non-destructive testing and research & development. In 2020, the semiconductor segment is expected to command the largest share of the terahertz spectroscopy market. Technologicala dvancements in the growing semiconductor industry is the major factor riving the growth of this segment.
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Regional Growth, Development and Demand Analysis:
The infrared and terahertz spectroscopy market is segmented into North America, Asia-Pacific, Europe and Rest of the world(RoW). Asia Pacific is expected to register the highest CAGR during the forecast period. . The major factors driving the growth of the Asia Pacific market include strategic expansions by key players, increasing food safety concerns, and adoption of technologically advanced products.
Major Key Players Mentioned in the research report are:
The prominent players in the global infrared spectroscopy market include PerkinElmer (US), Bruker Corporation (US) Shimadzu Corporation (US), Thermo Fisher Scientiific (US), Agilent Technologies (US). And the major players in the terahertz spectroscopy market include TeraView Ltd (UK), Advantest Corporation (Japan), Menlo Systems GmbH (Germany, Toptica Photonix AG (Germany).
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– In 2020, Bruker Corporation Launched the OMEGA 5 FTIR Gas Analyzer. The OMEGA 5 is designed for applications like process monitoring, the investigation of catalytic processes, or the determination of gas impurities
– In 2020, Advantest Corporation (Japan) Launched the Time-Domain Reflectometry (TDR) option for its TS9001 system.
– In 2019, PerkinElmer (US) acquired China based Meizheng group to expand its portfolio for the grain and milling, dairy, meat, and seafood markets