Albany, NY — (SBWIRE) — 09/30/2020 — Solid competition characterizes the global non-ionizing radiation market, which at present is led by Mirion Technologies Inc., Narda Safety Test Solutions, and Spectris plc. The competition among the three is expected to heat up in the near future: these deep-pocketed players are seen pouring large amounts in coming up with more technologically superior and effective products to detect presence radiation.
A report by Transparency Market Research predicts the global market for non-ionizing radiation (NIR) to rise at a steady 4.57% CAGR between 2016 and 2024. At this pace, the market which was worth US$49.4 bn in 2015 would likely reach a value of US$73.8 bn by 2024-end. The volume of shipment is expected to become 547.36 mn in the same period.
Depending upon the type of device, the handheld devices hold a leading share in the global market for non-ionizing radiation (NIR) market. This is mainly because of their hassle-free usage and continued technological progress leading to more evolved versions. Our in-house team of analysts predict this segment to gross US$37.9 bn revenue by 2024-end. Geographically, North America led the market with a significant 44.0% share in revenue in 2015. Presence of numerous non-ionizing radiation/EMF detector manufacturers is mainly responsible for the growth of its market. Going forward too, the region is expected to maintain its lead.
For Right Perspective & Competitive Insights, Request a Sample @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=19766
Rising Awareness about Harmful Effects of Radiation to Drive Market
At the forefront of driving demand in the global market for non-ionizing radiations (NIR) is the growing awareness among people about the harmful effects of radiation. Elaborates the lead analyst of our report, “The ever-surging usage of electrical devices such as IoT-based devices and electronic gadgets such as laptops, mobile phones, and tablets, both at home and in industries and workplaces has caused an alarming rise of electromagnetic pollution resulting from nonionizing radiation. On account of the growing knowledge about the health risks resulting from exposure to such radiation, the uptake of solutions and products that uncover and measure radiation has risen substantially among consumers, thus majorly promoting the market for non-ionizing radiation (NIR).”
Another factor that is likely to catalyze growth in the global market for non-ionizing radiations (NIR) is the swift uptake of electronic support measures (ESMs).
Need for Heavy Investments Hampers Market Growth
One factor posing challenge, thus preventing the market for non-ionizing radiation (NIR) from reaching its full potential, is the need for continued, large investments in cutting-edge research and development of the devices so as to come up with more sophisticated products to meet the varied needs of consumers. This somewhat reduces the profit margins of manufacturers. Apart from that, need to adhere to various strict rules framed by authorities across nations is also dampening growth opportunities of players.
Request the coronavirus impact analysis @ https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=19766
This review is based on the findings of a TMR report, titled, “Non-ionizing Radiation/EMF Detection, Measurement, and Safety Market (Detector – High-frequency and Low-frequency; Device Type – Personal Monitoring Devices, Handheld Monitoring Devices, and Area Monitoring Devices; End User – Residential, Healthcare, Military and Homeland Security, Manufacturing, Laboratory and Education, and Telecommunication) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.”
The report segments the Global Non-ionizing Radiation (NIR) Market into the following:
Global Non-ionizing Radiation/EMF Detection, Measurement, and Safety Market, by Detector
Global Non-ionizing Radiation/EMF Detection, Measurement, and Safety Market, By Device Type
Personal Monitoring Devices
Handheld Monitoring Devices
Area Monitoring Devices
Global Non-ionizing Radiation/EMF Detection, Measurement, and Safety Market, by End User
Military and Homeland Security
Laboratory and Education
Global Non-ionizing Radiation/EMF Detection, Measurement, and Safety Market, by Geography
Rest of North America
Rest of Europe
Rest of Asia Pacific
Middle East and Africa
Rest of MEA
Rest of South America
Read Our Trending Press Release Below:
About Transparency Market Research
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.