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.
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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.
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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.
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