Global Market For Portable Analysis Instrumentation Worth $6.7 Billion In 2014
May 20, 2009
Wellesley, Mass—According to a new technical market research report, PORTABLE ANALYSIS INSTRUMENTATION: THE GLOBAL MARKET (IAS028A) from BCC Research (www.bccresearch.com), the global market for portable analysis instrumentation will generate an estimated $6.3 bilion in 2009. This will increase to $6.7 billion in 2014, for a compound annual growth rate (CAGR) of 1.2%.
The market is broken down into application-specific equipment and product-specific equipment. The product-specific equipment segment currently has the largest share of the market, worth an estimated $3.3 billion in 2009. This should increase at a CAGR of 1.7% to reach $3.6 billion in 2014.
The application-specific equipment segment has the second largest share of the market, worth an estimated $3.0 billion in 2009. This segment is expected to generate $3.1 billion in 2014, for a CAGR of 0.8%.
GROWTH OF PORTABLE ANALYSIS INSTRUMENTATION, 2009 AND 2013
Source: BCC Research
Analytical equipment is based on a wide and robust array of technologies that have undergone transformative maturation over the last several years. Many factors have led to the evolution of portable analysis equipment including the increased use of nanotechnology and the natural effects of free market competition.
The portable or handheld analytical devices market has almost continual innovation in every underlying technology and, even though many of the application areas of field analysis are completely separate, there is the opportunity for technology creators to identify previously unknown application areas for their technology.
As disparate technology develops, analytical equipment is rapidly taking advantage of both the ability to create smaller equipment without loss of accuracy, and even to increase accuracy to real-time or near real-time results that is of incomparable value for many different real-world applications.
Portable Analysis Instrumentation: The Global Market( IAS028A )
Publish Date: December 2015
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