Surface & Field Analytics Market Expected to Reach $49.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Surface & Field Analytics Market," The surface & field analytics market was valued at $20.4 billion in 2021, and is estimated to reach $49.9 billion by 2031, growing at a CAGR of 9.4% from 2022 to 2031.

Surface analysis helps in the optimization of a new product, ensure packaging stability, and assess quality of an existing manufacturing process. Moreover, with smart infrastructure and development rolling out in both developed and developing economies, the process of surface examination and interpolation has been experiencing a hard hit, thus to measure the surface qualities in terms of magnitude, height, many organizations and government sectors are adopting surface & field analytics, which propels growth of the market.

Furthermore, key factors that drive growth of the surface & field analytics market include growing demand for work from home and sanitation trends during the COVID-19 pandemic. However, data privacy and sharing challenges of third-party surface & field analytics platforms can hamper the surface & field analytics market forecast. On the contrary, integration of advanced tools such as machine learning and surface analytics with surface & field analytics solutions suites is expected to offer remunerative opportunities for expansion of the surface & field analytics industry during the forecast period.

On the basis of enterprise size, the large enterprise segment dominated the overall surface & field analytics market in 2021 and is expected to continue this trend during the forecast period. This is attributed to the complex data and mapping requirements of large enterprises. However, the SMEs segment is expected to witness the highest growth owing to growing technological advancement of SMEs, which is expected to further fuel the growth of the global surface & field analytics industry.

Region wise, the surface & field analytics market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its highly advanced technology sector which is expected to drive the market for surface & field analytics within the region during the forecast period. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to its growing digital capabilities and a highly competitive market space, which is expected to fuel the surface & field analytics market growth in the region in the coming few years.

Post the outbreak of COVID-19 it became very important to analyse surface for environment or objects that were contaminated by a new source of infection. It became important to effectively clean and disinfect environmental surfaces.  This resulted in increase in demand for manufacturing more surface & field analytics methods such as endoscopy systems comprising video scopes, video processors, light sources, and liquid crystal display panels, peripheral equipment such as image recording devices, endoscope cleaning systems, and sterilization systems. Major key market players introduced software and services to tackle complex analytical challenges in research, diagnostics and clinical laboratories. For instance, in July 2022, Thermo Fisher Scientific showcased new clinical and research lab solutions at AACC. Thermo Fisher Scientific Inc., showcased innovative diagnostic technologies, assays, and a complement of solutions for researchers developing new diagnostics. Moreover, the growing demand in medical instruments and research tools during the pandemic period drove the demand for surface & field analytics.

KEY FINDINGS OF THE STUDY

• By deployment model, the on premise segment accounted for the largest surface & field analytics market share in 2021.
• By region, North America generated the highest revenue in 2021.
• By enterprise size, the large enterprise segment generated the highest revenue in 2021.

The key players profiled in the surface & field analytics market analysis are Bruker Corporation, Carl Zeiss AG, Danaher Corporation, Jeol Limited, Nikon Corporation, Olympus Corporation, Shimadzu Corporation, Thermo Fisher Scientific, Inc., ULVAN-PHI, and Waters Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.