Spectroscopy IR Detector Market worth 224.5 Million USD by 2022

According to the MarketsandMarkets report "Spectroscopy IR Detector Market by Detector Technology (DTGS, MCT, InGaAs), Spectrum Sensitivity (NIR, Mid IR, and Far IR), Cooling Requirement (Cooled and Uncooled), Product Type (Benchtop, Portable, Hyphenated) - Global Forecast to 2022", the overall market is estimated to be worth USD 224.5 Million by 2022, growing at a CAGR of 6.9% between 2016 and 2022, whereas the unit shipment of IR detector is expected to grow at a CAGR of 7.7% between 2016 and 2022. The major factors driving the growth of the IR detector market for IR spectroscopy include upgradation of IR spectroscopy devices by replacing with new IR detector modules and the growing shipment of IR spectroscopy devices in various industries.

Browse 70 market data tables and 64 figures spread through 200 pages and in-depth TOC on “Real-Time Locating Systems (RTLS) Market - Global Forecast to 2022”

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The benchtop IR spectroscopy device segment held the largest share of the IR detector market in 2015

The benchtop IR spectroscopy device segment held the largest share of the IR detector market in 2015, while the market for portable IR spectroscopy device is expected to grow at a significant rate between 2016 and 2022.

 In the current scenario, benchtop IR spectroscopy plays a key role in a number of industries such as pharmaceutical, biological, chemicals, food & beverages, and others. The increasing shipment of benchtop and portable IR spectroscopy devices is driving the growth of the IR detector market.

Mid IR detector plays a key role in the IR detector market

The IR detector market for IR spectroscopy has been segmented on the basis of spectrum sensitivity into NIR, Mid IR, and Far IR. Of all these, mid IR is expected to hold the largest market share during the forcast period owing to the wide range of applications of mid IR spectroscopy in the research and industrial sector.

 Along with this, the market for NIR spectroscopy devices is expected to grow at a significant rate during the forecast period, which would, in turn, drive the growth of NIR detector market in the near future.

The spectroscopy IR detector market is estimated to be worth USD 224.5 Million by 2022, growing at a CAGR of 6.9% during the forecast period; the market size, in terms of volume, is expected to grow at a CAGR of 7.7% during the same period.

The objective of this report is to estimate the size, in terms of value and volume, and future growth potential of the IR detector market for IR spectroscopy across different segments such as detector technology, spectrum sensitivity, product type, cooling requirement, and geography.

The base year considered for the study is 2015 and the forecast period is between 2016 and 2022. This report provides detailed information regarding the major factors influencing the growth of the IR detector market such as drivers, restraints, and opportunities.

 Along with this, the growth opportunities for the stakeholders have been analyzed by identifying the high-growth segments of the market.

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Research Methodology:

· The research methodology used to estimate and forecast the spectroscopy IR detector market begins with obtaining data on key vendor revenues through company’s annual reports, SEC filings, Factiva, Bloomberg Business, and other secondary resources.

· The vendor offerings have also been taken into consideration to determine the market segmentation.

· The bottom-up procedure has been employed to arrive at the overall market size of the global IR detector market from the ASPs of IR detectors and the shipment of IR spectroscopy devices market.

· After arriving at the overall market size, the total market has been split into several segments and sub-segments, which are then verified through primary research by conducting extensive interviews with CEOs, VPs, directors, and executives.

The scope of this report covers the spectroscopy IR detector market segmented on the basis of detector technology, spectrum sensitivity, cooling requirement, product type, and geography. On the basis of spectrum sensitivity, the market has been segmented into NIR, Mid IR, and Far IR. Mid IR detectors are expected to hold the largest market share, during the forecast period.

Graphical Analysis:

The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of the primaries is depicted in the figure below:



The IR detector ecosystem comprises IR sensor/detector component manufacturers such as Hamamatsu Photonics K.K. (Japan), Excelitas Technologies Corp. (U.S.), LASER Components GmbH (Germany) and others; and IR spectroscopy device manufacturers such as Thermo Fisher Scientific (U.S.), PerkinElmer (U.S.), Bruker Corporation (U.S.), and Agilent Technologies (U.S.) among others.

APAC region would grow at a significant rate during the forecast period

The market in APAC is expected to grow at a significant rate in the IR detector market for IR spectroscopy in the near future because of factors such as the presence of a large number of IR detector and IR spectroscopy device manufacturing companies in the region.

For instance, in April 2016, Hamamatsu Photonics K.K. (Japan) announced its plans to establish a new optosemiconductor manufacturing unit in Japan by February 2017. Similarly, Thermo Fisher Scientific Inc. (U.S.) has expanded its business by establishing an innovation center in China; it has invested around USD 9.5 million for R&D in this center. Also, DANI Instruments SpA (Italy) has signed a distribution agreement with Labindia Instruments Pvt. Ltd. (India).

The market, on the basis of geography, has been segmented into four regions—North America, Europe, APAC, and RoW. North America held the largest market share in 2015; however, the market in APAC is expected to grow at the highest rate between 2016 and 2022 owing to the growing industrialization in this region.

The availability of substitute products for IR spectroscopy devices acts as a major restraining factor for the growth of the market. The major companies operating in the IR detector market include Hamamatsu Photonics K.K. (Japan), Excelitas Technologies Corp. (U.S.), LASER Components GmbH (Germany), UTC Aerospace Systems (U.S.), Newport Corporation (U.S.), and others.

These players have adopted various strategies such as new product developments, expansions, mergers, partnerships, and collaborations to cater to the needs of the IR detector market for spectroscopy.

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