Analytical Instrumentation Services Market

A Holistic Service Approach and Regional Presence Drive Transformational Growth of Vendors

This study analyzes the analytical instrumentation services market from 2019 to 2029, with 2022 as the base year. The market was estimated at $3,619.1 million in 2022, exhibiting a growth rate of 3.5% from 2021, and is expected to grow at a CAGR of 6.1% from 2022 to 2029.

Key market drivers include:

• The need for multi-vendor services (MVS) is gaining importance as vendors want to extend their service portfolio and increase their geographic presence. Providing services for competitor products gives them a competitive edge and allows them to serve more clients.
• Offering a holistic approach through products, software, and services will benefit vendors and drive their growth. Catering to all service types will allow vendors to serve across different application areas and end-user industries.
• Third-party service providers are gaining traction by offering focused services, driving regional demand. Partnerships between global vendors and third-party service providers will enhance client offerings.
• A combination of end-to-end asset management services and stand-alone software-as-a-service is the future for vendor success. This business model offers the best value proposition for the complete life cycle management of laboratory assets.

Sustainability in the network analyzers and spectrum analyzers market:

• Pay-as-you-go is the new trend that will enable more clients to opt for better services.
• The need to satisfy customers' requirements will drive partnership formation between vendors and third-party service providers.
• A focus on service quality and meeting customer goals across the value chain is key for vendor success.

This study discusses the following growth opportunities:

• Providing a holistic approach
• Having a regional focus
• End-to-end asset management services