Global Mini Spectrometers MarketPosted by manisha on December 3rd, 2020 Global mini spectrometers market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 10% during forecast period. The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis. Market Definition Mini spectrometers are low cost, portable, and compact spectrometers whose image sensor, optical system and circuit are condensed into a miniature case. These instruments are basically used for NIR, VIS, and UV measurements with range between 190-2300nm. Market Dynamics A surge in the adoption of mini spectrometers for field and laboratory applications as it does not require any detector sockets or additional moving parts, which is the major driving factor behind the growth of the market. An increasing adoption of mini spectrometers in food industry for the inspection of food products and growing demand of mini spectrometers for applications such as light level measurement, component analysis, environmental measurement, quality control and many others are expected to improve the growth of the market during the forecast period. Nevertheless, limited range of sensitivity and test and high initial costs of mini spectrometers are the major restraining factors that could hamper the growth of the market. Global Mini Spectrometers Market: Segmentation Analysis By technology, image sensor technology segment dominated the market in 2019 and is projected to witness high growth at a CAGR of XX% during the forecast period. The integration of CMOS image sensor in mini spectrometer provides high sensitivity and low power consumption. A growing adoption of image sensor technology based mini spectrometers in applications such as handheld color monitoring devices for color management and color adjustment applications is accredited to the growth of the market. By application, sugar content measurement segment is projected to witness high growth at CAGR of XX% during the forecast period. A surge in the adoption of mini spectrometers in food processing industry for food inspection applications is attributed to the growth of the market. In food inspection mini spectrometers are used to inspect sugar content, moisture, and fat of the food product. A growing demand for high-quality and low cost spectrometers for applications such as routine food and environmental quality testing and for applications such as food contamination detection, pesticide residue analysis, and protein identifications are expected to improve growth of the market during the forecast period. Rising development and introduction of mini spectrometers for food inspection application is further propelling the market growth. For instance, • In Oct 2018, Hamamatsu Photonics developed its latest and world’s smallest, grating spectrometer, SMD series mini-spectrometer C14384MA which offers low cost and lightweight, compact size, and high near-infrared sensitivity. It is developed for the applications where on-site or real-time measurement is necessary such as for quality inspections of agricultural crops or food and for environmental analysis applications. Global Mini Spectrometers Market: Regional Analysis Region-wise, North America held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The US and Canada are the major key contributors behind the growth of the market. The growth is attributed to growing investments in the research & development activities in the field of biomedical and pharmaceutical. The adoption of stringent government regulations for the production of pharmaceuticals, ongoing advancements in spectroscopy technology, rising development in the spectrometer device for high performance and quick results and surge in the demand for handheld spectrometers for field analysis of samples are driving the growth of the market in NA region. The objective of the report is to present a comprehensive analysis of the Global Mini Spectrometers Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Mini Spectrometers Market dynamics, structure by analyzing the market segments and projects the Global Mini Spectrometers Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Mini Spectrometers Market make the report investor’s guide. Global Mini Spectrometers Market, By Technology • MEMS Technology • Color Measurement • Laboratories • North America • Hamamatsu Photonics K.K. For more information of visit:https://www.maximizemarketresearch.com/market-report/global-mini-spectrometers-market/74066/ Like it? Share it! More by this author |