Report ID: SQMIG35I2353
Report ID:
SQMIG35I2353 |
Region:
Global |
Published Date: November, 2024
Pages:
171
|
Tables:
100 |
Figures:
71
Process Analyzer Market size was valued at USD 7.47 Billion in 2023 and is poised to grow from USD 7.75 Billion in 2024 to USD 10.35 Billion by 2032, growing at a CAGR of 3.70% during the forecast period (2025-2032).
The leading cause of a rise in the global process analyzer market is the increasing need for wastewater treatment facilities. Urbanization also increased the demand for efficient water management solutions. This makes treatment plants for both drinking and sewage increasingly important due to stricter government regulations, more intensive industry requirements and a greater concern over public health and water purity. Another factor propelling the market is the growing usage of process analyzer in medication safety. The pharmaceutical market has experienced significant growth due to the COVID-19 pandemic. Additionally, a significant driver propelling the global process analyzer market is the global manufacturing sector's embrace of automation, AI, and smart technologies.
Nevertheless, a shortage of qualified personnel makes it difficult to run the process analyzer, which could otherwise result in mistakes when monitoring the substance. Additionally, the producer chooses to install straightforward, inexpensive monitoring solutions rather than expensive process analyzer due to the high cost of the analyser and its software. This constrains the market. In addition, the industry, oil and gas, and construction sectors were severely impacted by the Covid-19 pandemic. Additionally, there were significant restrictions or a complete halt to construction activity.
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Report ID: SQMIG35I2353