The COVID-19 outbreak has disrupted business and economic activities globally but is expected to aid the Microscope Software Market for the healthcare and semiconductor industries. However, the automobile and aerospace markets for microscopic software will see negative impacts.

Semiconductors have a wide range of applications, including automobile, aerospace, medical devices, life sciences, and healthcare. As a result, demand for microscopy software solutions can be expected to grow, or perhaps stabilize—especially given the use of semiconductors in healthcare. Other contributing factors include the rising focus on computing storage, strong demand in consumer smart home categories, increasing use of IoT for digitalization, and the need for strengthening network communications.

In healthcare, spending has increased drastically due to the need to counter COVID-19. Companies are allocating resources to conduct research, produce test kits, develop potential vaccines, and manufacture or supply medical equipment. Government bodies across the world are investing in damage control and disease prevention. This means that while companies other than those manufacturing medical devices or infrastructure that are not directly connected to COVID-19 will face some disruption in the supply chain, the healthcare sector itself is expected to grow in the mid-to-long term.

The demand for microscopy software in the automobile industry is expected to decline, mainly due to low consumer focus on purchasing cars and other automobiles. On the defense side, contractors are better positioned since they will not feel the impact of COVID-19 in the hort-to-mid-term. The overall industry is expected to register a negative effect due to the potential global recession.

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Projected Revenue Growth, Globally:

The global microscope software market size is projected to reach USD 1,021 million by 2025 from USD 567 million in 2020, at a CAGR of 12.5% between 2020 and 2025.

Key Growth Fueling Factors:

The growing availability of funding support for RD in the area of microscopy, a broad application base (since microscopes are used widely in a range of fields, such as semiconductor, life science/healthcare, aerospace, and material sciences), technological advancements in microscopes microscope software, and the emergence of new application areas is driving market growth.

Data Triangulation:

After arriving at the overall market size from the market size estimation process explained above, the global microscope software market was split into segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable.

The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the global microscope software market was validated using both top-down and bottom-up approaches.

Opportunity: Emerging Markets

Developing countries, including BRIC, offer significant growth opportunities for players in the microscope software market. Government funding for RD in advanced microscopes and software has increased considerably in these countries. Due to the low manufacturing cost and higher production volumes, these countries will further require advanced microscopes along with enhanced software to compete in the international market. The growth of their life sciences, semiconductor, and automotive industries will also support their demand for microscopes and software.

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North America accounted for the second-largest share of the global microscope software market in 2019 and is likely to remain an important region for manufacturers to concentrate

North America (comprising the US and Canada) accounted for the second-largest share of the global microscope software market in 2019. North America is a mature market for microscope software. The major players operating in the microscope software market, including Danaher Corporation and Thermo Fisher Scientific, have a strong presence in North America with a wide customer base and established distribution channels.

The penetration of advanced microscopy systems and software such as electron microscopes, digital microscopes, and confocal microscopes is significantly high in various end-use industries in this region. These companies are actively involved in research to expand the applications of correlative microscopy in materials science and geology in the region and contribute towards its growth.