|By PR Newswire||
|August 12, 2014 07:49 AM EDT||
MOUNTAIN VIEW, Calif., Aug. 12, 2014 /PRNewswire/ -- High operating and maintenance costs have consistently challenged customers of process analytical instrumentation, resulting in a shift toward implementing solutions with lower cost of ownership. As a result, instrumentation vendors have incorporated cutting-edge technologies to deliver solutions that meet the needs of the market.
New analysis from Frost & Sullivan, Global Process Analytical Instrumentation Market, finds that the market earned revenues of $2.8 billion in 2013 and estimates this to reach $3.8 billion by 2020.
For complimentary access to more information on this research, please visit: http://bit.ly/1kwF9ld.
High costs and difficult implementation are two of the biggest challenges for customers. Additionally, lack of skilled technicians with expertise for maintenance and implementation of technology adds to woes of the end user. Going forward, there will be growing emphasis on flexibility and adaptability of process analytical instruments to enable easy installation and detachment from the process for maintenance purposes.
As process analyzers must be removed from the process for frequent maintenance, equipment downtime increases, seriously affecting the profitability of the customer, especially in competitive markets such as oil and gas. Response time is also slow for certain process analytical techniques such as chromatographs which impacts overall measurement time.
To overcome this challenge, manufacturers must develop analyzer technologies that do not require frequent maintenance and have a faster response time. Consequently, process analyzers based on tunable diode laser spectroscopy techniques represent the fastest growing segment in the overall process analytical instrumentation market.
Vendors must simplify the user interface of process analyzers to simplify the instruments' usability for their customers' benefit. The instrument should also incorporate automated features such as barcode readers to reduce need for manual intervention. Customers are looking for process analyzers that can deliver powerful performances similar to capabilities of laboratory analytical instrumentation.
Global Process Analytical Instrumentation Market is part of the Measurement & Instrumentation (http://www.testandmeasurement.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Analysis of the Indian Laboratory Analytical Instrumentation Market, Chinese Laboratory Analytical Instrumentation Market, Analysis of the Southeast Asia Process Analytical Instrumentation Market, and Analysis of the United States Water and Wastewater Analytical Instrumentation Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
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Process Analytical Instrumentation Market
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SOURCE Frost & Sullivan
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