Portable Near Infrared Spectroscopy Market
Portable Near Infrared Spectroscopy Market
The market for Portable Near Infrared Spectroscopy was estimated at $345.00 million in 2024; it is anticipated to increase to $621 million by 2030, with projections indicating growth to around $1.01 billion by 2035.
Global Portable Near Infrared Spectroscopy Market Outlook
Revenue, 2024 (US$M)
$345M
Forecast, 2034 (US$M)
$919M
CAGR, 2024 - 2034
10.3%
Market Key Insights
- The Portable Near Infrared Spectroscopy market is projected to grow from $345.0 million in 2024 to $919 million in 2034. This represents a CAGR of 10.3%, reflecting rising demand across Pharmaceutical Quality Control, Material Identification in Recycling Industry and Food and Agriculture Analysis.
- Thermo Fisher Scientific Inc., Agilent Technologies Inc., Bruker Corporation are among the leading players in this market, shaping its competitive landscape.
- U.S. and Germany are the top markets within the Portable Near Infrared Spectroscopy market and are expected to observe the growth CAGR of 7.5% to 10.8% between 2024 and 2030.
- Emerging markets including Brazil, South Africa and UAE are expected to observe highest growth with CAGR ranging between 9.9% to 12.9%.
- Transition like Adoption of AI in Spectroscopy is expected to add $80.7 million to the Portable Near Infrared Spectroscopy market growth by 2030
- The Portable Near Infrared Spectroscopy market is set to add $575 million between 2024 and 2034, with manufacturer targeting Agriculture & Food & Beverage Application Type projected to gain a larger market share.
- With Technological advancements in spectroscopy, and Growth in pharmaceutical and biotech sectors, Portable Near Infrared Spectroscopy market to expand 167% between 2024 and 2034.
Opportunities in the Portable Near Infrared Spectroscopy
The use of Portable Near Infrared Spectroscopy could transform the field of forensics and law enforcement by enabling the detection of substances, within sealed packages to expedite investigations and mitigate risks linked to handling materials.
Growth Opportunities in North America and Europe
North America Outlook
Europe Outlook
Market Dynamics and Supply Chain
Driver: Technological Advancements in Spectroscopy, and Rise in Food Safety Awareness
Restraint: High Instrumentation Costs
Opportunity: Agricultural Expansion and Rising Interest in Personal Healthcare
Challenge: Lack of Skilled Personnel
Supply Chain Landscape
Raw Material Procurement
Alcoa
Rio Tinto
Component Manufacturing & Assembly
Thermo Fisher Scientific
Bruker Corporation
Foss A/S
Distribution & Sales
Agilent Technologies Inc
PerkinElmer
End User Applications
Pharmaceutical Industry
Chemical Industry
Food and Beverage Industry
Agriculture Industry
Raw Material Procurement
Alcoa
Rio Tinto
Component Manufacturing & Assembly
Thermo Fisher Scientific
Bruker Corporation
Foss A/S
Distribution & Sales
Agilent Technologies Inc
PerkinElmer
End User Applications
Pharmaceutical Industry
Chemical Industry
Food and Beverage Industry
Agriculture Industry