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At 11.3% CAGR, Acoustic Camera Market to Reach $274.6 Mn by 2026 | GFAI Tech GmbH, Bruel & Kjaer, CAE Sofwtare & Systems, Siemens PLM Software (Siemens AG), Signal Interface Group, Inc., Norsonic AS

08-10-2020 06:49 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Acoustic Camera Market

Acoustic Camera Market

Allied Market Research published a report, titled, "Acoustic Camera Market by Array (2D and 3D), Type (Far Field and Near Field), Application (Noise Source Identification and Leakage Detection), and Industry Vertical (Aerospace, Automotive, Industrial, Energy & Power, Electronics, and Education): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global acoustic camera industry garnered $122.6 million in 2019, and is estimated to garner $274.6 million by 2026, registering a CAGR of 11.3% from 2020 to 2026.

Drivers, restraints, and opportunities

Maintenance optimization in different industries to enable safety and efficient performance of machines, surge in usage of acoustic camera in the oil & gas and power generation projects, and stringent safety & government regulations drive the growth of the global acoustic camera market. However, high cost of manufacturing and maintenance of acoustic camera hinder the market growth. On the other hand, rise in usage of advanced NDT equipment expected to offer new opportunities in the market.

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The 2D segment to continue its leadership status during the forecast period

Based on array type, the 2D segment held nearly three-fifths of the total share of the global acoustic camera market in 2019, and is expected to continue its leadership status during the forecast period. This is due to surge in usage in planer surface applications and deployment in automotive workshops and factories for variant analysis and other measurement processes. However, the 3D segment would portray the highest CAGR of 13.1% from 2020 to 2026, owing to increase in usage in various industry verticals such as automotive, energy, environment, transportation, and aerospace.

The noise source detection segment to maintain its lead position in terms of revenue by 2026

Based on application, the noise source detection segment accounted for the largest market share of the global acoustic camera market in 2019, holding more than one-third of the total share, and will maintain its lead position in terms of revenue during the forecast period. This is attributed to the adoption in aerospace, automotive, and manufacturing units for detection of any sort of noise source. However, the leak detection segment is expected to grow at the highest CAGR of 13.0% from 2020 to 2026. This is due to demand for detection of leakages in doors and windows along with containers used in manufacturing units & plants.

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Asia-Pacific to lucrative opportunities, North America to trail

Based on region, Asia-Pacific contributed to the highest market share in terms of revenue, contributing to nearly two-fifths of the global acoustic camera market in 2019, and is estimated to continue its dominant share during the forecast period. Moreover, this region is estimated to witness the highest CAGR of 12.6% from 2020 to 2026. This is due to availability high-end technologies, increase in demand for smart electronics, and rise of manufacturing industries. North America is estimated to contribute the second-highest market share by 2026.

Market players holding largest pie

Brüel & Kjær
Norsonic AS
CAE Software, Systems GmbH
GFAI Tech GmbH
Signal Interface Group
Sorama
Ziegler-Instruments GmbH
Microflown Technologies
Siemens Product Lifecycle Management Software Inc.

Key Benefits for Stakeholders

• This study includes the analytical depiction of the global acoustic camera market forecast along with the current trends and future estimations to determine the imminent investment pockets.

• The report presents information regarding the key drivers, restraints, and opportunities in the acoustic camera market.

• The acoustic camera market growth is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.

• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

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Global Acoustic Camera Market Segmentation

By Array Type

• 2D
• 3D

By Measurement Type

• Far Field
• Near Field

By Application

• Noise Source Detection
• Leak Detection
• Others

By End Use

• Industrial
• Aerospace & Defense
• Infrastructure
• Energy & Power
• Automotive
• Others

By Region

• North America
o U.S.
o Canada
o Mexico

• Europe

o UK
o Germany
o France
o Italy
o Rest of Europe

• Asia-Pacific

o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific

• LAMEA

o Latin America
o Middle East
o Africa

Access Report Summary: https://www.alliedmarketresearch.com/acoustic-camera-market

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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