Non-ionizing Radiation/EMF Detection, Measurement, and Safety Market is projected to expand at a CAGR of 4.57% from 2016 to 2024 – TMR
Global Non-ionizing Radiation/EMF Detection, Measurement, and Safety Market: Snapshot
The global non-ionizing radiation detection market, measurement, and safety derive much of its growth from the growing uptake of these devices across various sectors, such as the residential, medical and healthcare, manufacturing, laboratory and education, military and homeland security, and telecommunication sectors.
The growth of this market is highly supported by the rising level of awareness among consumers regarding the health hazards caused by exposure to radiation. The increasing number of the government regulations and policies and augmenting usage of electronic support measures (ESMs) are also adding to the market’s growth significantly. In addition to this, the escalating utilization of electronic devices in both, the residential and industrial sectors, is likely to drive the demand for non-ionizing radiation/EMF detection and measurement devices, reflecting positively on this market in the near future.
The worldwide market for non-ionizing radiation/EMF detection, measurement, and safety is likely to expand at a CAGR of 4.57% between 2016 and 2024, increasing from US$49.4 bn in 2015 to a value of US$73.8 bn by the end of 2024. In terms of the shipment volume, the market is estimated to cross 547.36 mn units mark by the same time period.
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Handheld Devices to Remain Most Preferred Product in Global Non-ionizing Radiation/EMF Detection, Measurement, and Safety Market
Personal monitoring devices, area monitoring devices, and handheld devices are the main types of devices available in the global non-ionizing radiation/EMF detection, measurement, and safety market. Among these, the demand for handheld devices has been higher than others, thanks to the ease of usage they provide.
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With continual technical advancements, these devices are likely to remain the most preferred ones in this market over the forthcoming years. Analysts project this segment to contribute US$37.9 bn in terms of revenue to the overall market by 2024. Personal monitoring devices are also anticipated to witness a healthy growth rate in the years to come.
North America to Continue as Market Leader
On the geographical basis, the worldwide market for non-ionizing radiation/EMF detection, measurement, and safety has been classified into North America, South America, the Middle East and Africa, Europe, and Asia Pacific. North America emerged as the leading regional market for non-ionizing radiation/EMF detection, measurement, and safety devices in 2015 with a share of nearly 44% in terms of revenue. The presence of non-ionizing radiation/EMF detector manufacturers in a large number is considered as the main factor behind the growth of this regional market.
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Analysts expect the North America market to maintain its lead over the next few years, thanks to the technological advancements in this field. Asia Pacific is also projected to experience an increasing demand for non-ionizing radiation/EMF detection, measurement, and safety devices in the near future due to the growing awareness level among consumers.
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