Newark, NJ, Jan. 31, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global bioacoustics sensing market is expected to grow from USD 5.6 Billion in 2017 to USD 8.7 Billion by 2025 at a CAGR of 5.6% during the forecast period 2018-2025.
Increasing acceptance of artificial intelligence, consumer electronics devices with improved features and better customer experience, which is done by combining bioacoustics sensing systems with artificial intelligence (AI) technology are the factors that are driving the bioacoustics sensing market. Due to its flexible and lightweight structure, it is preferred over integrated or discrete sensors.
Bioacoustics is a branch of science which deals with the combination of biology and acoustics. It is related to the production, control, transmission, and effects of sound on animals as well as humans. In other words, it is considered as an amalgamation of biology and acoustics to produce an innovative sensing platform. This technology record and analyze ultrasound and vibration by directing digital technology comprising of equipment and software. It helps to understand the properties of sounds produced by animals and the environment in which they are used. This technology helps to examine various ultrasound and vibration by using digital technology, which consists of equipment and software. Bioacoustics sensing helps to find, identify animals and their condition and is used in humans for medical applications, such as measuring body sounds on skin surface. It is also used in consumer wearable device like mobile phones, laptops, and electrical appliances. Technological advancement and miniaturization of tools have expanded the field of bioacoustics, as they use bioacoustics sensors to improve sensitivity and better operational efficiency. The prime applications of bioacoustics sensing also includes ecological and agricultural by identifying the species as early as possible so that the parasites can be detected fast to protect the crops.
Increasing acceptance of artificial intelligence is a major factor driving the growth of the market. The bioacoustics sensing system is integrated with Artificial Intelligence (AI) technology in consumer electronics devices to provide better features and better customer experience. In addition, due to its flexible and lightweight structure, it is preferred over integrated or discrete sensors. Few manufacturers produce the bioacoustics sensing technology as it incurs a high cost which in turn may lead to hampering in the growth of the market. However, the integration of chemical vapor deposition (CVD) and atomic layer deposition (ALD) by manufacturers is expected to boost up the market in the coming years.
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Key players operating in the global bioacoustics sensing market include Matsushita Electric Industrial, Panasonic Corporation, Honeywell, Pacesetter, Samsung Electronics, Medacoustics, Remon Medical Technologies, Avisoft Bioacoustics, MSI Transducers Corporation, Materials Systems Inc., AT&T, Panasonic Corporation, IBM Corporation, Pacesetter, Inc., Med-Acoustics, Inc., Remon, MSI Transducers Corporation and others. Top players of the market are making efforts in R&D to increase their footprint in the market.
- Extensive product portfolio and expansion strategies by major players are contributing for the growth of the sector. For instance, in 2018, RVINE, Calif.--(BUSINESS WIRE)--Masimo (NASDAQ: MASI) announced FDA clearance of RAS-45, an acoustic respiration sensor for rainbow Acoustic Monitoring (RAM), for infant and neonatal patients.
- Various regions like U.S, Germany, U.K, China and Japan are tapping greater opportunities and major leaders are continuously focusing their attention on new product developments and venture capital investments to capture a large market share. For instance, Honeywell offers more than 50000 products ranging from snap action, limit, toggle and pressure switches to position, speed and airflow sensors that meet any industry's requirements
Ultra sound recorders segment is dominating the market with the share of 26.40% in 2017
The hardware segment is classified into microphones, detectors, ultra sound recorders, sound recorders, instrument recorders, computing devices and others. The ultra sound recorders segment is dominating the bioacoustics sensing market in 2017 as these bioacoustics helps to record various sound from the environments and helps to understand various properties by using higher frequency of equipment
Sound analytics segment valued around USD 1.27 Billion in 2017
Software segment includes sound analytics, video streaming software, automated identification, audio editing tools, other sound related software, recording software, visual comparison software and audio analysis plugins. Sound analytics is dominating the market in 2017 as it helps to comprehend the analytics of bioacoustics sensing.
Healthcare segment is growing with the highest CAGR of 8.9% in the forecast period
Application segment is divided into segments such as wearable consumer electronics and healthcare. Healthcare segment is growing with the highest CAGR in the forecast period. The bioacoustics sensing technology is increasingly used in the healthcare sector as it helps in various functions such as improving human comfort, convenience, and security as well as monitoring health conditions. Bioacoustics sensors are used for constant examination and monitoring of blood pressure, respiratory system, and stamina.
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Regional Segment Analysis of the Bioacoustics Sensing Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global bioacoustics sensing market with USD 1.98 Billion in 2017 where as the Europe region is growing rapidly in the market. The North America region is adopting this technology and are investing significant resources on R&D and are combining bioacoustics sensing with other applications. Europe market has observed rapid development of skin put technology leading to increase adoption of bioacoustics sensing.
About the report:
The global bioacoustics sensing market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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