Growing emphasis on matching international standards of quality across industries and rising adoption of process technology in the pharmaceutical as well as food and agriculture industries is promoting growth in the global process spectroscopy market. The global process spectroscopy market is anticipated to grow at a CAGR of 8.3% during the forecast period from 2017 to 2025. The global process spectroscopy market is anticipated to reach US$2005.2 mn in 2025.

There has been several technological developments in Raman spectroscopy such as ability to estimate purity of a compound and a detailed fingerprinting can be derived from Raman spectrum. Moreover, introduction of cloud-based spectroscopy holds diverse opportunities in terms of adoption by various end-use industries. The next-generation cloud-based spectroscopy has the ability to dynamically scale up and down the resources to be computed so as to match a varying workload.

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The process spectroscopy market has been segmented on the basis of technology, end-use industry and region. On the basis of technology, the market is segmented into near infrared (NIR) spectroscopy, Raman Spectroscopy, fourier transform infrared (FT-IR) spectroscopy and others. In 2016, near infrared (NIR) spectroscopy accounted for maximum share in the total market revenue. However, with increasing popularity of Raman spectroscopy, the market share of NIR spectroscopy is predicted to reduce of the total market revenue in 2025.

The fourier transform infrared (FT-IR) spectroscopy segment is expected to grow at a moderate CAGR during the forecast period due to better performance in terms of spectral quality, reproducibility of data, data collection speed, and ease of maintenance and use. FT-IR spectrometers have several performance advantages over traditional dispersive infrared instrumentation.