NEWARK, Del: , Oct. 31, 2022 (GLOBE NEWSWIRE) -- The global noise monitoring devices market is anticipated to reach a valuation of US$ 1198 Mn in 2032, with sales growing at a moderate CAGR of 5% from 2022 to 2032. Predicted to reach an estimated US$ 735 MN by the end of 2022, the target market is propelled by the increasing incidences of occupational hearing ailments across various industries. Rising demand for reduction in noise pollution and favorable government policies further aid the growth of the noise monitoring devices market during the forecast period.
Devices that measure the level of noise in myriad applications such as industry, hospitals, and many others are categorized as noise monitoring devices. These tools assist in lessening noise-related health concerns in the workplace and other areas too.
The swell in occupational hearing impairment cases in industries has spurred the demand for noise monitoring devices. Rising noise pollution and other noise-related issues have resulted in the implementation of strict government policies which, in turn, boost the sales of the target market.
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Again, the escalating demand for lessening noise pollution in urban areas, the need for noise monitoring instruments at airports, the rise in installation of all-in-one environmental monitoring solutions, and the need for noise monitoring infrastructures in mining, wind plants, the petrochemical industry, harbor, and others contribute to the growth of the target market during 2022-2032.
As noise monitoring devices offer several benefits for measuring and managing noise levels, the market for the same is likely to expand swiftly in the next few years. The upgrading of all the major enterprises is a primary growth driver of the market. Besides, in the target sector, there are constant momentum games with innovative technology that likely impact the global market. All of these considerations, including several others, contribute to the growth of the target market during the forecast period.
“Rise in the cases of occupational hearing loss along with the upgradation of major enterprises will likely spearhead the global growth of the noise monitoring devices market over the forecast period,” says an FMI analyst.
Key Takeaways:
- A dearth of proper legislation and its implementation will hamper the overall market growth.
- The noise monitoring devices market in North America will hold about 28.9% of the overall market share in 2022.
- Europe will hold about 21.7% of the noise monitoring devices market share in 2022.
- Asia Pacific’s noise monitoring devices market will hold 13% of the global market share by the end of 2022.
- By vertical application, the industrial segment will register the fastest growth.
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Competitive Landscape
Honeywell International Inc., Casella Inc., FLIR Systems, RION Co. Ltd., CESVA INSTRUMENTS SLU, ACOEM Group, Pulsar Instruments, SKF Group, PCE Instruments, Brüel & Kjaer, Cirrus Research Plc, NTi Audio, Larson Davis, Svantek, and KIMO among others are some of the major players in the noise monitoring devices market profiled in the full version of the report.
Leading market players are focusing on product development and new product launches. These enterprises employ tactics like mergers, acquisitions, and collaborations to strengthen their market position.
More Insights into Noise Monitoring Devices Market Report
In its latest report, FMI offers an unbiased analysis of the global noise monitoring devices market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of vertical application (railways, airports, recreational areas, industrial applications, hospitals, residential areas, construction sites, road traffic, commercial applications, and other applications), component (noise monitoring hardware, noise monitoring software), connectivity (ethernet-based, Wi-Fi-based, USB cable-based, cellular-based), type of noise (Class 1 noise monitoring devices 51, class 2 noise monitoring devices 52), and region.
According to the latest FMI reports, based on segmentation, the industrial vertical application segment is anticipated to dominate the market during 2022-2032. The industrial application segment will register the fastest growth rates due to the swift implementation of noise monitoring regulations by various businesses across the globe.
Based on region, the noise monitoring devices market in North America is expected to present significant growth during the assessment period. The target market in this region is predicted to acquire the highest share of 28.9% by the end of 2022. Rising incidences of workplace hearing impairment, implementation of strict government mandates on noise pollution, and demand for customized noise monitoring devices and software drive the growth of the target market in this region. In addition to North America, Asia Pacific, and Europe, too, will witness notable growth in the noise monitoring devices market during the forecast period.
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Key Segments Covered in the Noise Monitoring Devices Industry Analysis
Noise Monitoring Devices Market by Vertical Application:
- Noise Monitoring Devices for Railways
- Noise Monitoring Devices for Airports
- Noise Monitoring Devices for Recreational Areas
- Noise Monitoring Devices for Industries
- Noise Monitoring Devices for Hospitals
Noise Monitoring Devices Market by Component:
- Noise Monitoring Hardware
- Noise Monitoring Software
Noise Monitoring Devices Market by Connectivity:
- Ethernet-based Noise Monitoring Devices
- Wi-Fi 55-based Noise Monitoring Devices
- USB Cable-based Noise Monitoring Devices
- Cellular-based Noise Monitoring Devices
Noise Monitoring Devices Market by Type of Noise:
- Class 1 Standard Noise Monitoring Devices 51
- Class 2 Standard Noise Monitoring Devices 52
Noise Monitoring Devices Market by Region:
- North America Noise Monitoring Devices Market
- Latin America Noise Monitoring Devices Market
- Europe Noise Monitoring Devices Market
- Asia Pacific Noise Monitoring Devices Market
- Middle East and Africa Noise Monitoring Devices Market
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
TOC continued..!
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