Spectrometer Market Status and Development Tendency

Spectrometer is an instrument used to measure properties of light over a specific portion of the electromagnetic spectrum, a spectrometer is an apparatus to measure a spectrum，in particular, show the intensity of light as a function of wavelength or of frequency.

The Spectrometer market worth about 8 billion USD in 2016 and it is expected to reach 12.7 billion USD in 2020 with an average growth rate of 7.6%. North America is the largest production and consumption region in the world, while China is fastest growing region.

At present the spectrometers are classified into three types by technology, Mass spectrometry, Atomic spectrometry and Molecular Spectrometry. Atomic spectrometry is the dominate type, which accounting for about 50% market share.

The market of spectrometers can also be classified by the size of the device. That is Conventional and Micro- & Portable Spectrometer. The conventional mainly used in the science research labs, schools and other high accuracy requirement occasions. The Micro-& Portable Spectrometer mainly used by industrial applications, which pay more attention to the detection speed. And the industrial demand is a significant driving factor of the market.

The key players in this market are Thermo Scientific, Bruker, Agilent Technologies, Danaher, Shimadzu, AMETEK (Spectro), Spectris, etc. OceanOptics, Avantes, B&W Tek, StellarNet are major manufacturers of Micro- & Portable Spectrometers. The TOP 5 palyers covers about 50% market share of spectrometers.