Acoustic Microscopy Market by Offering (Microscopes, Accessories & Software, Services), Application (Non-Destructive Testing, Quality Control, Failure Analysis), Industry (Semiconductor, Life Science), and Geography - Global Forecast to 2023

The acoustic microscopy market is projected to grow at a CAGR of 5.47% from 2018 to 2023

Key factors driving the growth of the acoustic microscopy market includes safety regulations formulated by governments and international bodies, growth of various end-use industries, and increased funding for R&D in microscopy. High initial investments and overall operating cost, and implementation of excise tax and customs duty on acoustic microscopes are acting as key restraints to the growth of the acoustic microscopy market.

The market for Non-Destructive Testing (NDT) application is projected to grow at the highest CAGR during the forecast period

Based on application, the market for Non-Destructive Testing (NDT) is projected to grow at the highest CAGR from 2018 to 2023. This growth can be attributed to the increased awareness regarding industrial non-destructive testing methods and their benefits, such as increased life of equipment and improved production output. The emergence of automated NDT equipment that offer accurate results is a key factor driving the growth of the non-destructive testing application.

The market for nanotechnology industry is expected to grow at the highest CAGR during the forecast period

Based on industry, the market for nanotechnology is expected to grow at the highest CAGR during the forecast period. The increasing applicability of nanotechnology in the medical sector and rising initiatives to promote nanotechnology research worldwide are key factors contributing to the growth of the nanotechnology industry.

The acoustic microscopy market for services is projected to grow at the highest CAGR during the forecast period

The acoustic microscopy market for services is expected to grow at the highest CAGR from 2018 to 2023. This growth can be attributed to increase in the number of Non-Destructive Testing (NDT) service providers and rise in demand for NDT services from the semiconductor and automotive sectors. There is an inevitable need for NDT inspection in industries, primarily during engineering, assembling, and operating stages. Additionally, NDT services are adopted by various industries to prevent recurring issues in system components.

The acoustic microscopy market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period

The acoustic microscopy market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period, owing to favorable funding scenario for microscopy research, availability of technologically-advanced microscopes, and increased focus on nanotechnology. Additionally, pioneering research undertaken by key institutes in APAC countries is contributing to the growth of the acoustic microscopy market in the Asia Pacific region.

The breakup of primaries conducted during the study is depicted below:

• By Company Type: Tier 1 - 45 %, Tier 2 - 35%, and Tier 3 -20%
• By Designation: C-Level Executives - 35%, Directors - 25%, and Others - 40%
• By Region: Americas- 45%, Europe - 20%, Asia Pacific - 30%, and RoW - 5%

Key players operating in the acoustic microscopy market are Sonoscan (US), Hitachi (Japan), PVA TePla (Germany), EAG Laboratories (US), NTS (US), Sonix (US), IP-holding (Germany), Insight K.K. (Japan), OKOS (US), MuAnalysis (Canada), Crest (Malaysia), Predictive Image (France), PicoTech (Israel), Acoustech Systems (US), and Accurex (India).

Research Coverage:

This report covers the acoustic microscopy market based on offering, industry, application, and region. Based on offering, the acoustic microscopy market has been segmented into microscopes, accessories & software, and services. Based on industry, the acoustic microscopy market has been segmented into semiconductor, life science, material science, nanotechnology, and others (automotive and aerospace). Based on application, the acoustic microscopy market has been segmented into Non-Destructive Testing (NDT), failure analysis, product reliability testing/quality control, and others (counterfeit detection and process validation). Based on region, the acoustic microscopy market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Key Benefits of Buying the Report:

• This report provides market statistics pertaining to offering, application, industry, and region, in addition to their respective market sizes.
• In-depth analysis of value chain has been performed to provide valuable insights into the acoustic microscopy market.
• Key drivers, restraints, challenges, and opportunities for the acoustic microscopy market have been highlighted in this report.
• Illustrative segmentation, analysis, and forecast for the acoustic microscopy market based on offering, application, industry, and region have been conducted to provide an overall view of the acoustic microscopy market.
• The report also includes a detailed competitive leadership mapping, in addition to in-depth analysis and ranking of key players.