Press release
Global Spectroscopy Software Market Worth $2.33 Billion by 2029, Growing at 11.9% CAGR
Spectroscopy Software
Spectroscopy Software Market Outlook: What Size And CAGR Are Anticipated By 2025?
In recent times, the market size of spectroscopy software has experienced swift growth. The growth is projected to go from $1.33 billion in 2024 to $1.49 billion in 2025, with a compound annual growth rate (CAGR) of 12.1%. The historical growth can be ascribed to factors such as heightened demand for analytical instruments, the proliferation of automated solutions in labs, emphasized focus on quality control within the pharmaceutical sector, the rising application of spectroscopy in environmental supervision, and the growing necessity for effective data processing tools.
What Is the Expected CAGR for the Spectroscopy Software Market Growth Through 2029?
The market size for spectroscopy software is projected to experience swift growth in the following years, reaching $2.33 billion in 2029 with a compound annual growth rate (CAGR) of 11.9%. The impending growth during this forecasted period can be traced back to factors such as the increasing implementation of cloud-based lab software, elevated demand for live and remote data access, growing funds in life sciences and chemical investigation, a surging need for high-throughput analytical apparatuses, and a rising fame of multi-technique spectroscopy platforms. Key trends anticipated during this forecasted period comprise advancements in AI-empowered spectroscopy analysis, improvements in customizable and user-friendly software interfaces, assimilation of spectroscopy software with lab information management systems (LIMS), progression in cloud-based data storage and sharing, and innovation in real-time spectral observation tools.
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What Are the Primary Drivers Behind Spectroscopy Software Market Growth?
The escalating need for food safety among consumers is poised to drive the expansion of the spectroscopy software market. Food safety encompasses all the measures and conditions essential for protecting food quality and averting food contamination and related diseases. There is a growing worry tied to food safety, fueled by the global expansion of food supply chains, which inadvertently increases the chances of contamination at every stage - during production, processing, and distribution. Spectroscopy software serves as the guardian of food safety, allowing for swift, non-invasive examination of food items to identify contaminants, confirm the genuineness of components, and supervise quality benchmarks throughout the supply chain. For instance, Public Interest Research Group (PIRG), a non-profit organization in the US, reported an escalation in food and beverage recalls by 8% in 2023, up from 6% in 2022 within the country. Hence, the intensifying consumer requirement for food safety is fueling the advancement of the spectroscopy software market.
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What Are the Key Segments Driving Spectroscopy Software Market Growth?
The spectroscopy software market covered in this report is segmented -
1) By Type Of Spectroscopy: Ultraviolet-Visible Spectroscopy Software, Infrared Spectroscopy Software, Nuclear Magnetic Resonance Spectroscopy Software, Mass Spectrometry Software, Fluorescence Spectroscopy Software
2) By Deployment Type: On-Premise Software, Cloud-Based Software, Hybrid Software
3) By Functionality: Data Acquisition, Data Analysis, Data Management, Reporting And Visualization, Instrument Control
4) By Application: Food Testing, Environmental Testing, Forensic Science, Pharmaceuticals, Other Applications
5) By End-User: Pharmaceuticals And Biotechnology Industries, Forensics, Food Industries, Polymers And Organic Chemistry Industries
Subsegments:
1) By Ultraviolet-Visible Spectroscopy Software: Single-Beam Ultraviolet-Visible Software, Double-Beam Ultraviolet-Visible Software, Array-Based Ultraviolet-Visible Software, Portable Ultraviolet-Visible Software
2) By Infrared Spectroscopy Software: Near-Infrared (NIR) Spectroscopy Software, Mid-Infrared (MIR) Spectroscopy Software, Far-Infrared (FIR) Spectroscopy Software, Fourier-Transform Infrared (FTIR) Software
3) By Nuclear Magnetic Resonance Spectroscopy Software: 1D Nuclear Magnetic Resonance (NMR) Software, 2D Or 3D Nuclear Magnetic Resonance (NMR) Software, Solid-state Nuclear Magnetic Resonance (NMR) Software, High-Resolution Nuclear Magnetic Resonance (NMR) Software
4) By Mass Spectrometry Software: Gas Chromatography-Mass Spectrometry Software, Liquid Chromatography-Mass Spectrometry Software, Matrix-Assisted Laser Desorption Or Ionization Software, Tandem Mass Spectrometry Software
5) By Fluorescence Spectroscopy Software: Steady-State Fluorescence Software, Time-Resolved Fluorescence Software, Fluorescence Lifetime Imaging Software, Forster Resonance Energy Transfer (FRET) Software
What Are the Technological Trends Impacting the Spectroscopy Software Market?
Big market players in the spectroscopy software industry are concentrating on the innovation of solutions such as interactive reports to amplify data depiction, permit thorough analysis, and deliver tailored insights that facilitate swift and better-informed decisions for users in scientific and industrial sectors. Interactive reports are dynamic digital reporting tools designed user-friendly that enable users to scrutinize, sift, and visualize spectroscopy data in real-time. For example, Mirion Technologies, Inc., an American technology and manufacturing company, unveiled Genie 4.0, a notable upgrade to its premier spectroscopy software, in June 2023. Genie 4.0 provides an augmented user interaction with interactive reports, heightened precision via sophisticated algorithms, and increased automation using Python-based scripting. It is crafted for both new and seasoned users, guaranteeing a seamless transition while boosting adaptability. The upgrade also brings in new repetitive and perpetual licensing options, facilitating users to opt for economical models that meet their requirements. Genie 4.0 will be ready for download from mid-July.
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Who Are the Major Competitors in the Global Spectroscopy Software Market?
Major companies operating in the spectroscopy software market are Thermo Fisher Scientific Inc., Danaher Corporation, Agilent Technologies Inc., PerkinElmer Inc., Mettler-Toledo International Inc., Shimadzu Corporation, Waters Corporation, Bruker Corporation, HORIBA Ltd., JEOL Ltd., Anton Paar GmbH, Renishaw plc, Metrohm AG, Genedata AG, HunterLab Europe GmbH, Avantes B.V.Renishaw plc, JASCO Corporation, Wasatch Photonics Inc., Lablicate GmbH, StellarNet Inc.
Which Region Dominates the Spectroscopy Software Market Share in 2025?
North America was the largest region in the spectroscopy software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spectroscopy software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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