The global spectroscopy software market size was estimated to be USD 1.05 billion in 2023 and is expected to reach at USD 2.68 billion by 2034 with a CAGR of 8.90% during the forecast period 2024-2034. The increasing incorporation of automation in laboratory settings, a rise in research and development endeavors, the growing prevalence of infectious diseases, a surge in the utilization of artificial intelligence (AI) systems in research and development, continuous technological progress for crafting more sensitive and high-resolution spectroscopy instruments, and an escalating introduction of sophisticated spectroscopy software solutions are some of the key factors boosting the market growth.
An escalating introduction of sophisticated spectroscopy software solutions is predicted to boost the market growth during the forecast period. Spectroscopy involves examining the interaction between light and matter. It finds application in determining functional groups and structure in organic compounds. Various spectroscopic methods, including infrared spectroscopy, UV/Vis spectroscopy, and Proton NMR spectroscopy, are employed for this purpose. The extensive array of spectroscopic techniques is relevant across diverse scientific research domains, including biomedical sciences, space exploration, and environmental analysis. Spectroscopy software plays a pivotal role by promoting collaboration, improving data accessibility, and offering solutions for visualizing, processing, and managing spectroscopic data. For instance, in June 2023, Agilent Technologies Inc. has introduced two novel systems for liquid chromatography mass spectrometry (LCMS): the Agilent 6495D LC/TQ and the Agilent Revident LC/Q-TOF. In conjunction with the high-end capabilities of the Revident LC/Q-TOF, Agilent is unveiling the Agilent MassHunter Explorer Profiling software and the Agilent ChemVista library manager software.
By deployment mode, on-premise was the highest revenue-grossing segment in the global spectroscopy software market in 2023 owing to the improved internal systems for data processing and storage, coupled with the increasing rollout of sophisticated solutions. For instance, in October 2023, trinamiX GmbH, a pioneer in advanced biometric and mobile NIR spectroscopy solutions, introduced an innovative Consumer Spectroscopy solution operating on the latest Snapdragon 8 Gen 3 Reference Design, marking a groundbreaking development. Additionally, cloud is predicted to grow at the fastest CAGR during the forecast period owing to ample data storage capacity & straightforward accessibility. Spectroscopy software hosted in the cloud provides scalability, enabling organizations to adapt their computing resources as needed. This scalability is essential for managing extensive datasets and conducting high-throughput analyses, a common requirement in spectroscopy applications. Cloud-based software solutions can be easily scaled and deployed based on user requirements, eliminating the necessity for significant upfront investments in infrastructure and licensing fees.
By application, food industry was the highest revenue-grossing segment in the global spectroscopy software market in 2023 owing to the expansion of high-quality food supply chains and the rising uptake of spectroscopic software to align with quality standards and conduct analyses. Additionally, environment testing is predicted to grow at the fastest CAGR during the forecast period owing to the heightened use of software for assessing air quality, climate dynamics, and the detection of air pollutants, along with the increasing implementation of advanced systems. For instance, in October 2023, HORIBA Medical is pleased to declare that its Yumizen hematology analyzers have been honored with the 2023 Medical Device Network Excellence Award in the Environmental, Innovation, and Product Launches category.
By end-user, pharmaceuticals and Biotechnology Industries was the highest revenue-grossing segment in the global spectroscopy software market in 2023 owing to the increased utilization for testing purposes & tracing the elements in the sample, and surge in introduction of innovative solutions. For instance, in August 2023, Thermo Fisher Scientific has announced the commercial launch of the EXENT Solution, after receiving IVDR certification. The EXENT solution is a fully integrated and automated mass spectrometry system designed to transform diagnosis and assessment for patients with monoclonal gammopathies, including multiple myeloma. Additionally, food industries is predicted to grow at the fastest CAGR during the forecast period owing to the surge in adoption of artificial intelligence (AI) systems in R&D, increased efficiency of the spectroscopy method for detection of the food samples.
North America region is anticipated for the highest revenue share during the forecast period owing to the high level of digital literacy and supportive policies for the implementation of spectroscopy software, the involvement of significant market players, and an increase in partnerships among market entities. For instance, in October 2023, Revvity, Inc. has disclosed a value-added distribution arrangement with SCIEX, a leading global provider of analytical technologies in life sciences. This strategic partnership is designed to enhance mass spectrometry solutions within Revvity's newborn screening products. The collaborative solution is expected to leverage Revvity's knowledge and capabilities alongside SCIEX's cutting-edge mass spectrometry solutions. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the widespread adoption of spectroscopy software and positive government initiatives promoting laboratory automation, along with a growing food testing sector and increasing awareness of food safety. For instance, in October 2023, Sony Corporation has introduced the FP7000 spectral cell sorter, featuring advanced spectral technology-based optics, sophisticated electronics, and fluidics. This sorter supports rapid and high-parameter sorting, accommodating over 44 colors through straightforward workflows.
An escalating introduction of sophisticated spectroscopy software solutions is predicted to boost the market growth during the forecast period. Spectroscopy involves examining the interaction between light and matter. It finds application in determining functional groups and structure in organic compounds. Various spectroscopic methods, including infrared spectroscopy, UV/Vis spectroscopy, and Proton NMR spectroscopy, are employed for this purpose. The extensive array of spectroscopic techniques is relevant across diverse scientific research domains, including biomedical sciences, space exploration, and environmental analysis. Spectroscopy software plays a pivotal role by promoting collaboration, improving data accessibility, and offering solutions for visualizing, processing, and managing spectroscopic data. For instance, in June 2023, Agilent Technologies Inc. has introduced two novel systems for liquid chromatography mass spectrometry (LCMS): the Agilent 6495D LC/TQ and the Agilent Revident LC/Q-TOF. In conjunction with the high-end capabilities of the Revident LC/Q-TOF, Agilent is unveiling the Agilent MassHunter Explorer Profiling software and the Agilent ChemVista library manager software.
By deployment mode, on-premise was the highest revenue-grossing segment in the global spectroscopy software market in 2023 owing to the improved internal systems for data processing and storage, coupled with the increasing rollout of sophisticated solutions. For instance, in October 2023, trinamiX GmbH, a pioneer in advanced biometric and mobile NIR spectroscopy solutions, introduced an innovative Consumer Spectroscopy solution operating on the latest Snapdragon 8 Gen 3 Reference Design, marking a groundbreaking development. Additionally, cloud is predicted to grow at the fastest CAGR during the forecast period owing to ample data storage capacity & straightforward accessibility. Spectroscopy software hosted in the cloud provides scalability, enabling organizations to adapt their computing resources as needed. This scalability is essential for managing extensive datasets and conducting high-throughput analyses, a common requirement in spectroscopy applications. Cloud-based software solutions can be easily scaled and deployed based on user requirements, eliminating the necessity for significant upfront investments in infrastructure and licensing fees.
By application, food industry was the highest revenue-grossing segment in the global spectroscopy software market in 2023 owing to the expansion of high-quality food supply chains and the rising uptake of spectroscopic software to align with quality standards and conduct analyses. Additionally, environment testing is predicted to grow at the fastest CAGR during the forecast period owing to the heightened use of software for assessing air quality, climate dynamics, and the detection of air pollutants, along with the increasing implementation of advanced systems. For instance, in October 2023, HORIBA Medical is pleased to declare that its Yumizen hematology analyzers have been honored with the 2023 Medical Device Network Excellence Award in the Environmental, Innovation, and Product Launches category.
By end-user, pharmaceuticals and Biotechnology Industries was the highest revenue-grossing segment in the global spectroscopy software market in 2023 owing to the increased utilization for testing purposes & tracing the elements in the sample, and surge in introduction of innovative solutions. For instance, in August 2023, Thermo Fisher Scientific has announced the commercial launch of the EXENT Solution, after receiving IVDR certification. The EXENT solution is a fully integrated and automated mass spectrometry system designed to transform diagnosis and assessment for patients with monoclonal gammopathies, including multiple myeloma. Additionally, food industries is predicted to grow at the fastest CAGR during the forecast period owing to the surge in adoption of artificial intelligence (AI) systems in R&D, increased efficiency of the spectroscopy method for detection of the food samples.
North America region is anticipated for the highest revenue share during the forecast period owing to the high level of digital literacy and supportive policies for the implementation of spectroscopy software, the involvement of significant market players, and an increase in partnerships among market entities. For instance, in October 2023, Revvity, Inc. has disclosed a value-added distribution arrangement with SCIEX, a leading global provider of analytical technologies in life sciences. This strategic partnership is designed to enhance mass spectrometry solutions within Revvity's newborn screening products. The collaborative solution is expected to leverage Revvity's knowledge and capabilities alongside SCIEX's cutting-edge mass spectrometry solutions. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the widespread adoption of spectroscopy software and positive government initiatives promoting laboratory automation, along with a growing food testing sector and increasing awareness of food safety. For instance, in October 2023, Sony Corporation has introduced the FP7000 spectral cell sorter, featuring advanced spectral technology-based optics, sophisticated electronics, and fluidics. This sorter supports rapid and high-parameter sorting, accommodating over 44 colors through straightforward workflows.
Segmentation: Spectroscopy Software Market Report 2023 - 2034
Spectroscopy Software Market Analysis & Forecast by Deployment Mode 2023 - 2034 (Revenue USD Bn)
- Cloud
- On-Premise
Spectroscopy Software Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Environment Testing
- Food Testing
Spectroscopy Software Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Forensics
- Food Industries
- Polymers and Organic Chemistry Industries
- Pharmaceuticals and Biotechnology Industries
Spectroscopy Software Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Spectroscopy Software Market: Deployment Mode Estimates & Trend Analysis
8. Spectroscopy Software Market: Application Estimates & Trend Analysis
9. Spectroscopy Software Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Spectroscopy Software Market
12. Europe Global Spectroscopy Software Market
13. Asia Pacific Global Spectroscopy Software Market
14. Latin America Global Spectroscopy Software Market
15. MEA Global Spectroscopy Software Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- MS Wil B.V
- OpenMS
- Thermo Fisher Scientific Inc
- Advanced Chemistry Development
- Lablicate GmbH
- Bruker
- Microsaic Systems plc
- AB Sciex Pte Ltd
- WATERS
- Genedata AG
- Agilent Technologies Inc.
- SpectralWorks Ltd
- Shimadzu Scientific Instruments
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 1.05 Billion |
| Forecasted Market Value ( USD | $ 2.68 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
