Noise Monitoring System Market – Overview
Noise pollution awareness has led to an increased level of cognizance of the issue on the consumer end, which has thus prompted an increase in demand. Market intensive reports associated with the semiconductors & electronics industry among others recently have been made accessible by Market Research Future which issues reports on this industry. The Noise Monitoring System Industry is anticipated to attain revenues worth USD 844 Million by 2023 while with growing 4 percent CAGR approximately in the forecast period.
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The market is strongly motivated by occupational hearing impairment which is commonly found in professions such as those related to the aviation and manufacturing sector. Government regulations regarding the noise levels in these industries have increased the demand experienced in the noise monitoring system market. Controlling the noise pollution levels with regular monitoring has become of the cornerstones for ensuring employee safety and satisfaction leading to further progress of the market in the forecast period.
The noise monitoring system market globally has been segmented on the basis of monitoring system, region, component, monitoring method and applications. The monitoring system comprises of portable noise monitoring system, semi-permanent noise monitoring system, permanent noise monitoring system, and others. The monitoring method comprises of permanent monitoring, short–term monitoring, long–term monitoring and others. The component segment consists of software, hardware, services and others. The applications comprise of construction noise, traffic noise, mining noise, rail noise, outdoor noise, industrial noise, and others. The regions that are part of the segmentation include Asia Pacific, North America, Europe, and rest of the world.
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Detailed Regional Analysis
The market’s regionwise analysis for noise monitoring system comprises of regions such as Europe, North America, Asia Pacific, and Rest of the World. The North American region is a significant market globally and has accounted for the main market share. The noise monitoring system market in the European region is gaining momentum as the businesses are continually upgrading and monitoring their products and modelling it with advanced technology. The Asia Pacific region appears to have a high CAGR in the market for noise monitoring system. This region is expected to progress exceedingly well in the coming years in terms of the noise monitoring system. In the North American region, the permanent noise monitoring system has the major market share and is rising at a rapid pace. These systems are combined with cellular and Ethernet communications, detachable data storage devices, weather sensors interface, battery, AC, or solar power, and others. The systems also enjoy a wide scale of applications in industrial facilities, airports, wind farms, motorsport complexes, mining operations, and others.
Global Competitive Analysis
The market has been led into a new period of development as the market is typically in a state of changeability. The capacity to maintain their competitive edge is one of the key factors fuelling their efforts in this period. The tendency for development in the market has been altered to a great extent with the entry of new players and the changes in the mode of functioning of the established players. The room for development in the market seems to be promising through the forecast period. Portfolio development is being significantly endorsed by market competitors to achieve high growth rates. Localization is among of the more favored trends for growing the market portion of the competitors in the market. The ripple effects of the market’s growth have altered the competitive backdrop of the market. The mounting interest in change within the business has ultimately permitted the businesses to apply many situations accessible in the market. The likelihood of growing revenue inflow in the business is expected to swell through the forecast period.
The important competitors in the noise monitoring system market globally are Pulsar Instruments (U.K), RION Co. Ltd. (Japan), Bruel & Kjaer (Denmark), 3M Company (U.S.), Cirrus Research Plc (U.K), SKF Group (Sweden), Extech Instruments (U.S.), Castle Group Ltd. (U.K), Casella Inc. (US), Kimo Instrument (Japan), B&K Precision Corporation (U.S.) among others.
May 2018 HBM has recently announced that it will be joining its activities with BKSV (Brüel & Kjær Sound and Vibration) effective from January 2019. The companies are both owned by UK based Spectris Plc.; the new company will be consequently named HBK (Hottinger, Brüel, and Kjær). The two companies will have complementary expertise across the measurement chain. The companies aim to leverage their respective strengths, to create a business with the competencies, and scale to deliver separate customer value, in the domains of safety and noise, propulsion, durability, vibration, and harshness.
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