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Mobile and Portable Spectrometers Market Analysis bySpectroscopic Techniques {X-ray Fluorescence (XRF), Near-infrared (NIR), Handheld Laser-induced Breakdown Spectroscopy (LIBS), Smartphone Spectroscopy}; by Type(Optical Spectrometers, Mass Spectrometers, Fluorescence Spectrometer); and by Industry (Material Chemistry, Life Sciences, Pharmaceuticals, Oil & Gas and Food & Agriculture)– Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • December, 2019: PerkinElmer, Inc., - announced that its Spectrum Two FT-IR spectrometer is onboard a research trip led by eXXpedition, a non-profit organization running all women sailing voyages, where it is being used by the scientist team to identify and document the chemical classification of plastics found during their travels.
  • June, 2022:X-Rite Incorporated- entered into a collaboration with Pantone LLC to launch the eXact 2, a next-generation non-contact handheld spectrophotometer designed to bring the ink, print, and packaging workflow together in one device, which enables operators to measure and seamlessly verify customer requirements two times faster and with higher accuracy.

Global Mobile and Portable Spectrometers Market Highlights Over 2023 - 2033

Forecast Year

2023-2033

   CAGR

~10%

Base Year Market Size (2022)

~USD 2 Billion

Forecast Year Market Size (2033)

~USD 5 Billion

The global mobile and portable spectrometers market is estimated to garner a revenue of USD 5 billion by the end of 2033 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 2 billion in the year 2022. The growth of the market can primarily be attributed to the surge in mass spectrometry analysis by medical professionals along with the growing healthcare spending worldwide.For instance, the global healthcare spending is expected to reach more than USD 10 trillion by the end of 2022.

Mobile-and-Portable-Spectrometers-Market-OverviewGet more information on this report: Request Sample PDF

A spectrometer is an instrument used for measuring wavelengths of light.

Any of various analytical instruments in which an emission (as of particles or radiation) is dispersed according to some property (such as mass or energy) of the emission and the amount of dispersion is measured can be called a spectrometer. Portable spectrometers / handheld spectrometers allow researchers to analyze samples on the go. Perfect for applications like field analysis of samples, identifying raw materials, and forensic analysis, these versatile instruments offer analysis capabilities similar to benchtop models.With the recent advancements smartphone devices as well as smartphone spectroscopy, the demand for mobile and portable spectrometersis on the rise amongst the smartphone users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global mobile and portable spectrometersmarket during the forecast period.For instance, more than 72% of the United States population used smartphones in 2020.

Global Mobile and Portable Spectrometers Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Use of LED Lights –The growing use of LED lights is expected to escalate the mobile and portable spectrometers market as portable handheld LED spectrometers are used to accurately measure the correlated color temperature, chromaticity, excitation purity (Pe), illuminance, luminous flux (in lumens-lm), RGB and dominant wavelength of light sources. It is estimated that LEDs are currently used in approximately 6 billion commercial buildings in the United States.

  • Increasing Requirements of Soil Testing –As per estimates, theadded value of the construction industry to the GDP accounted for ~5% and ~8%in developed and developing countries respectively in 2021.
  • Upsurge in the Spending on New Technologies – It was observed that the global ICT spending on new technologies will reach to over USD 1,180,000 million in 2022.
  • Rising Food and Beverages Industry According to statistics, the output of India’s food processing sector is expected to be more than USD 500 billion by 2025-26.

Challenges

  • Concern about the Quality of the Database
  • Not Feasible for Color Measurement Application
  • Possibility of Spectral Manipulation

The global mobile and portable spectrometers market is segmented and analyzed for demand and supply by type segmentinto optical spectrometers, mass spectrometers, fluorescence spectrometer. Amongst these segments, the mass spectrometers segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing use of mass spectrometers to measure the mass-to-charge ratio of ions and along with rising forensic analysis worldwide. It is observed that, in the United States, with most techniques used in forensic analysis, on an average the rate of forensic accuracy is considered in between 65% to 75%.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Research-and-Development-Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Mobile and Portable Spectrometers Market Regional Synopsis

Regionally, the global mobile and portable spectrometers market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033, backed by the growing demand for new drugs & medicines in the region as well as introduction of new drugs along with increasing spending for drug research and development (R&D) in pharmaceutical industry. According to the Congressional Budget Office (CBO), Research and Development (R&D) in the Pharmaceutical Industry report, the United States pharmaceutical industry spent USD 83 billion on R&D in 2019.

Mobile-and-Portable-Spectrometers-Market-Share-Size

The global mobile and portable spectrometersmarket is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global mobile and portable spectrometers market includes the following segments:

By Spectroscopic Techniques

  • X-ray Fluorescence (XRF)
  • Near-infrared (NIR)
  • Handheld Laser-induced Breakdown Spectroscopy (LIBS)
  • Smartphone Spectroscopy

By Type

  • Optical Spectrometers
  • Mass Spectrometers
  • Fluorescence Spectrometer

By Industry

  • Material Chemistry
  • Life Sciences
  • Pharmaceuticals
  • Oil & Gas
  • Food & Agriculture
 
Top Featured Companies Dominating the Global Mobile and Portable Spectrometers Market
  • PerkinElmer, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • X-Rite Inc.
  • Hitachi, Ltd.
  • Konica Minolta Business Solutions India Pvt. Ltd.
  • Shimadzu Corporation
  • Thermo Fisher Scientific Inc.
  • Bibby Scientific Ltd.
  • BYK-Gardner GmbH.
  • Hach Company(Danaher Corporation,DHR)
  • Bruker Corporation

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