The global non-ionizing radiation/EMF detection, measurement, and safety market demonstrates a competitive landscape and is led by Narda Safety Test Solutions, Mirion Technologies Inc., and Spectris plc, finds a new study by Transparency market Research (TMR). The rivalry between these players are likely to intensify in the next few years.
As per the report, the worldwide market for non-ionizing radiation/EMF detection, measurement, and safety is projected to expand at a CAGR of 4.57% during the period from 2016 to 2024, rising from US$49.4 bn in 2015 to a US$73.8 bn by the end of the forecast period. The market is expected to reach 547.36 mn units in terms of the shipment volume during the same period of time. The demand for handheld devices has been higher than other devices in this market, thanks to the ease of usage provided by them. Analysts expect handheld devices to remain enjoying a greater over the forthcoming years due to continual technical advancements.
With Large Pool of Manufacturers, North America to Retain its Dominance
The worldwide market for non-ionizing radiation/EMF detection, measurement, and safety has a strong presence across North America, South America, the Middle East and Africa, Europe, and Asia Pacific. With a share of 44%, North America led the global market in 2015. The regional market is likely to remain dominant over the period of forecast, thanks to the presence of a large pool of non-ionizing radiation/EMF detector manufacturers in this region.
Asia Pacific is also expected to witness a healthy rise in the demand for non-ionizing radiation/EMF detection, measurement, and safety devices over the forthcoming years, owing to the increasing awareness among consumers.
Rising Awareness Regarding Health Hazards Caused by Exposure to Radiation to Boost Market’s Growth
According to the author of this report, “the rising level of awareness among consumers regarding the health hazards caused by exposure to radiation is the key factor behind the growth of the global non-ionizing radiation/EMF detection, measurement, and safety market.” The increasing usage of electronic gadgets and electrical devices in both the domestic and the industrial sectors has resulted in significant rise of electromagnetic pollution caused by nonionizing radiation. The escalating demand for consumer electronics, such as mobile phones, laptops, and tablets has grown exponentially and the market for IoT-based devices is projected to witness a substantial rise. With the increasing awareness about the health risks associated with the exposure to such radiation, the adoption of products and solutions that detect and measure radiation has increased remarkably among consumers, leading to a considerable rise in this market.
In addition to this, the augmenting usage of electronic support measures (ESMs) is likely to add to the market’s growth significantly over the next few years. The augmenting utilization of electronic devices in the residential as well as the industrial sectors, is anticipated to fuel the demand for non-ionizing radiation/EMF detection and measurement devices in the near future, reflecting positively on this market. However, the need for heavy and continual investments for research and development of these devices in order to inculcate new technologies and meet the varying requirements of consumers, while abiding by the government regulations, may reduce the profit margins of manufacturers, impacting the market negatively in the years to come, states the research report.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Non-ionizing Radiation/EMF Detection, Measurement, and Safety Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
The global non-ionizing radiation/EMF detection, measurement, and safety market is segmented into:
By Device Type
- Personal Monitoring Devices
- Handheld Monitoring Devices
- Area Monitoring Devices
By End User
- Military and Homeland Security
- Laboratory and Education
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Rest of South America