Surface & Field Analytics Market Size Reach USD 49.9 Billion by 2031, Key Factors Behind Market's Growth

Allied Market Research published a new report, titled, "The Surface & Field Analytics Market Size Reach USD 49.9 Billion by 2031, Key Factors Behind Market's Growth." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Surge in demand for work from home and sanitation trends during the pandemic period led to huge need for surface analytics and remote management solutions to boost the global surface & field analytics market trends. During the COVID-19 pandemic, there was growing need for decontamination of surfaces leading to huge demand for surface and analytical tools including medical diagnostic solutions, communications solutions, sustainable packaging designs, and sensors and controls solutions.

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The global surface & field analytics market was valued at USD 20.4 billion in 2021, and is projected to reach USD 49.9 billion by 2031, growing at a CAGR of 9.4% from 2022 to 2031.

The surface & field analytics market is segmented on the basis of offering, deployment model, enterprise size, industry vertical, and region. On the basis of offering, the industry is divided into software and service. Depending on deployment mode, the market is classified into on premise and cloud. Based on enterprise size, the market is bifurcated into large enterprises and SMEs. The industry vertical covered in the study include automotive and transportation, energy and utilities, government, defense and intelligence, smart cities, insurance, natural resources, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on offering, the software segment held the major market share in 2021, holding nearly two-thirds of the global surface & field analytics market share, and is expected to maintain its leadership status during the forecast period. However, the service segment, is expected to cite the fastest CAGR of 10.4% during the forecast period.

In terms of enterprise size, the large enterprises segment held the largest market share in 2021, accounting for nearly three-fourths of the global Surface & field analytics market share, and is expected to maintain its leadership status during the forecast period. Nevertheless, the SMEs segment, is expected to cite the highest CAGR of 10.6% during the forecast period.

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Region-wise, the North American region held the major market share in 2021, grabbing more than two-fifths of the global surface & field analytics market share. In addition, the same region is slated to dominate the global market share during the forecast period. However, the Asia-Pacific region is expected to cite the fastest CAGR of 11.3% during the forecast period. The report also analyses other regions such as Europe and LAMEA.

The key players analyzed in the global surface & field analytics market report include Bruker Corporation, Carl Zeiss AG, Danaher Corporation, Jeol Limited, Nikon Corporation, Olympus Corporation, Shimadzu Corporation, Thermo Fisher Scientific, Inc., ULVAN-PHI, and Waters Corporation.

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COVID-19 Scenario:

● The outbreak of the COVID-19 pandemic had favorably impacted the growth of the global surface & field analytics market, owing to rise in need for disinfecting environmental surfaces resulting in demand for scientific instruments for molecular and material research.

● During the COVID-19 pandemic, there was a growing need for decontamination of surfaces leading to huge demand for surface and analytical tools including medical diagnostic solutions, communications solutions, professional microscopes, sustainable packaging designs, and sensors and controls solutions.

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