- A spectroradiometer is a light measurement tool used to measure both the amplitude and wavelength of the light radiated from a light source. It is a device mostly used to measure the spectral effect distribution of radiation source.
- Spectroradiometer measures numerous quantities of light which includes radiometric, photometric, and colorimetric. Spectroradiometers are available in many packages and sizes covering many wavelength ranges.
- Spectroradiometers are used in different applications such as solar UV and UVB radiation, LED measurement, display measurement and calibration, CFL testing, remote detection of oil slicks, SSL & OLED measurement and transmission, and reflection measurement.
- The global spectroradiometers market is projected to expand at a rapid pace during the forecast period owing to increased demand for spectroradiometers from various end-users.
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Global Spectroradiometers Market: Dynamics
Key Drivers and Restraints of the Global Spectroradiometers Market
- Rise in demand for high accuracy in spectroscopy is a major factor expected to fuel the demand for spectroradiometers in the next few years.
- Increasing demand to manage day-to-day operations and challenges of laboratories is projected to fuel the demand for spectroradiometers.
- Spectroradiometers are operated in a highly dynamic range and provide calibration and accuracy, which is projected to propel the spectroradiometers market in the next few years.
- Rising demand for environmental research applications is another factor anticipated to drive the market for spectroradiometers in the near future.
- Furthermore, rise in adoption of spectroradiometers among end-users due to their benefits is anticipated to fuel the demand for spectroradiometers during the forecast period.
- Increasing focus of governments to develop commercial environmental research facilities and to strengthen their research are anticipated to further boost the global spectroradiometers market in the near future.
- Their broad scope of application in the field of ecological study, and precision in calibration and measurements are other factors expected to boost the global spectroradiometers market during the forecast period.
- Availability of inferior quality and low-cost spectroradiometers is expected to hamper the spectroradiometers market in the next few years.
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North America to Hold Major Share of the Global Spectroradiometers Market
- North America dominated the global spectroradiometers market in 2018. The U.S. is a key market for spectroradiometers in North America due to high demand for spectroradiometers from end-users in the country. For instance, Renewable Energy Laboratory (NREL) and Solar Radiation Research Laboratory (SRRL) use spectroradiometers in their experiments for climate change properties and to attain multiple penetrations of photovoltaic (PV).
- The spectroradiometers market in Asia Pacific is projected to expand at a rapid pace from 2019 to 2027. As per the UNESCO report 2017, countries in the Asia Pacific are constantly focusing on spending a huge portion of their budget on research and development activities. South Korea spent US$73 Bn, China US$371 Bn, and India US$48 Bn, on research & development activities. These factors are anticipated to drive the spectroradiometers market in the region in the next few years.
Global Spectroradiometers Market – Competitive Landscape
Key Players Operating in the Global Spectroradiometers Market
Several local, regional, and international players manufacture spectroradiometers. Thus, the global spectroradiometers market is rather fragmented. The degree of competition among market players is high. Manufacturers of spectroradiometers adopt two vital strategies — new product development and acquisition — to cater to the needs of various end-users. Key players operating in the global spectroradiometers market are:
- ABB Limited
- Apogee Instruments, Inc.
- Delta Ohm
- EKO Instruments
- Hitachi High-Tech Analytical Science
- HORIBA, Ltd
- Instrument Systems GmbH
- International Light Technologies Inc.
- Thermo Fisher Scientific Inc.
- Topcon Technohouse Corporation
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