Market Research Future (MRFR)’s new study projects that the global noise monitoring market is set to strike a CAGR of 4% during the forecast period 2017 to 2023 The assessment also indicates that the market is anticipated to reach a valuation of USD 844 Mn by the close of the review period. Rising incidences of hearing impairment are one of the major factors that has led to developments in the market. It is likely to exhibit the same growth trend over the next couple of years.
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.
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The increasing hazards of noise pollution have raised serious concerns among governments and organizations. Necessary standards are being released, and steps are being taken to curb the problem of noise pollution which is prognosticated to augment the global noise monitoring system market in the years to come.
Rapid industrialization in conjunction with an exponentially increasing number of vehicles is expected to revolutionize the growth pattern of the noise monitoring management system market across the review period. On the flip side, lack of proper implementation of noise level standards is poised to check the expansion of the noise monitoring market over the next few years.
In March 2019, Svantek, the leading brand of sound and vibration meters, has delivered four SV 307 noise monitoring stations to the U.K. based First Choice Hire Ltd for a 3-week demolition project as a part of the High Path Estate regeneration initiative.
In March 2019, Network Rail, the owner and infrastructure manager of most of the railway network in Great Britain, has invested £20 Mn for re-opening Soham station with noise monitoring tests.
The noted market players of the noise monitoring system market profiled in this MRFR report are Pulsar Instruments (U.K), Extech Instruments (U.S.), 3M Company (U.S.), Bruel & Kjaer (Denmark), RION Co. Ltd. (Japan), Cirrus Research Plc (U.K), Casella Inc. (US), Castle Group Ltd. (U.K), SKF Group (Sweden), Kimo Instrument (Japan), and B&K Precision Corporation (U.S.).
By monitoring system, the global noise monitoring system market has been segmented into permanent noise monitoring system, semi-permanent noise monitoring system, portable noise monitoring system, and others.
By monitoring method, the noise monitoring system market has been segmented into permanent monitoring, short–term monitoring, and long–term monitoring.
By component, the global noise monitoring system market has been segmented into hardware, software, and services.
By application, the noise monitoring system market has been segmented into construction, mining, traffic, rail, industrial, outdoor, and others.
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By region, the global noise monitoring system market has been segmented into Asia Pacific, North America, Europe and the Rest of the World (RoW). North America has secured the leading position and is presumed to retain its position through the assessment period. The noise monitoring system market in Europe has been projected to exhibit a similar pattern striking a steady but constant CAGR. The focus on product development and technology advancements are presumed to boost the pace of expansion of the regional market. Asia Pacific has been prognosticated to thrive at a comparatively higher CAGR over the next couple of years. The growth of the regional noise monitoring system market can be accredited to the rising demand for vehicles and rapid industrialization being observed. Furthermore, the government norms are likely to boost the sales of these systems in the forthcoming years.
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