The global noise monitoring system market, according to the report published by Market Research Future (MRFR), is slated to reach a significant market value of USD 844 million by 2023 at an approximate CAGR of 4% over the review period (2017-2023).
Drivers and Restraints
Substantial prevalence of occupational hearing impairment, increase in government funding for noise monitoring and control, advent of innovative noise monitoring systems that preferably meet the requirements of airport organizations, increasing installation of all-in-one ecological monitoring solutions, and high requirement for the measures in the sectors of wind plant, mining, and petrochemical industry are some of the other factors growing the demand in the global noise monitoring market. On the other hand, issues concerning interoperability of the file formats between equipment and analysis software, the liberal approach of several local authorities in emerging economies, and the cost of application are a few limits obstructing the market from flourishing.
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The essential market players in the noise monitoring system market globally are Pulsar Instruments (U.K), Bruel & Kjaer (Denmark), RION Co. Ltd. (Japan), 3M Company (U.S.), SKF Group (Sweden), Cirrus Research Plc (U.K), Extech Instruments (U.S.), Casella Inc. (US), Castle Group Ltd. (U.K), B&K Precision Corporation (U.S.), Kimo Instrument (Japan), among others.
The market players of the global noise monitoring system market are expected to invest extensively in research and development activities due to the competitive nature of the market. This is expected to create a higher scope of growth opportunities in the foreseeable future.
The global noise monitoring system market has been segmented on the basis of the monitoring system, monitoring method, component, applications, and region. The monitoring system includes a permanent noise monitoring system, a semi-permanent noise monitoring system, a portable noise monitoring system, and others. The monitoring method includes short–term monitoring, long–term monitoring, and others. In the monitoring method, a permanent monitoring method is widely used across the world and accounted to be the most significant used method in a noise monitoring system in developed companies. The component includes hardware, software, services, and others. The applications segment consists of construction noise, mining noise, traffic noise, rail noise, industrial noise, outdoor noise, and others.
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The region comprises of North America, Europe, Asia Pacific and rest of the world.
The North American market for noise monitoring systems is one of the largest markets across the globe and has accounted for the leading market share over the review period. In the North American region, the established noise monitoring system has a significant market share and is increasing at a rapid pace. These systems are coupled with cellular and Ethernet communications, battery, AC, detachable data storage devices, weather sensors interface, or solar power, and others. The systems also enjoy a varied scale of applications in industrial facilities, airports, wind farms, motorsport complexes, mining operations, and others.
The noise monitoring system market in the European region is one of the major regional markets across the globe and is gaining impetus over the review period. This is attributed to the businesses are continually upgrading and monitoring their products and modeling it with advanced technology.
The Asia Pacific region is one of the major regional markets for noise monitoring systems and appears to have a higher CAGR in the market for the noise monitoring system. This region is expected to progress remarkably well in the foreseeable future, in terms of the noise monitoring system. The increasing nosie pollution, population over-growth leading to traffic and the relaxed regulatory framework towards nise monitoring is driving the growth of the market in the region, especially in developing countries such as China, India, among others.
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