In the last few years, the demand for process analyzers has scaled higher, thanks to their rising use across diverse industries. A process analyzer, coupled with other embedded advance electronic components, provides a cost-effective handling process, which is the foremost factor coercing manufacturers to invest in them. High speed analysis and cost effecting handling process offered by process analyzers have increased their use in the processing of volatile organization components. Besides this, the market is gaining from the rising demand for chemical proceslyzers have esing equipment witnessed worldwide.
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As a result of the recent technological advancements, manufacturers could innovate novel product with better design and performance. Furthermore, these advanced models were more cost-effective. Considering such upgrades, the demand for process analyzers has considerably increased in the water and wastewater treatment market. Moreover, governments around the world are looking to provide clean water to their citizens thus providing an environment conducive to the growth of the global process analyzer market.
While high cost of installation and maintenance will create bottlenecks, the market will gain from the rising opportunities in Asia Pacific. Between 2016 and 2024, the process analyzer market is forecast to exhibit a CAGR of 9.1%. At this pace, the market will reach US$11.501 bn by the end of 2024, from US$5.29 bn in 2015.