Market Trends of Acoustic Camera Industry
This section covers the major market trends shaping the Acoustic Camera Market according to our research experts:
Automotive Industry to Hold Significant Market Share
- Automotive is expected to witness significant growth in the acoustic camera market. The industry is growing due to the latest new technologies and additions, such as electric vehicles and autonomous cars. These new technologies have upscaled testing of noise, vibration, and harshness. As a result, the demand for acoustic cameras is increasing in automotive for buzz, squeak, and rattle (BSR) concerns in vehicles and production procedures.
- The automotive industry is witnessing steady growth, especially after the setback caused by the pandemic, which is expected to create more opportunities for the acoustic camera market. According to the International Energy Agency, sales of electric cars (including plug-in hybrids and fully electric) doubled in 2021 to reach about 6.6 million.
- To reduce the noise pollution caused by vehicles, several countries are framing new regulations and running pilot programs expected to support the growth of the studied market. For instance, in January 2022, the French government announced a new experiment with 'noise cameras' to tackle excessive noise from moving vehicles.
- With automobiles making their place in the day-to-day life of consumers, the sales of cars are also expected to grow. Furthermore, the demand is also expected to grow owing to the rising disposable income of developing countries. According to OICA, all types of global sales of automobiles reached 82.68 million in 2021.
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Asia Pacific Expected to Witness Significant Growth
- The Asia Pacific is expected to witness significant growth in the acoustic camera market. Automotive industries in Asia-Pacific increased in the past few years. The change in these industries has been propelled by a vast population shift and an increase in disposable income, which has prompted a higher demand for products in Asia-Pacific.
- The sales of passenger cars, especially in countries such as China, India, South Korea, etc., have also been growing, which is expected to impact the demand for acoustic cameras positively. For instance, according to OICA, the number of passage cars sold in the Asia Pacific region increased from 32.21 million to 34.52 million.
- In the past few decades, the region's manufacturing sector has increased significantly. According to the World Bank, the value added by the manufacturing industry to the GDP of the East Asia & Pacific region increased to 25%. Manufacturers from the area are adopting new techniques in manufacturing to reduce costs, save time, increase efficiency, and improve product quality. Growing manufacturing facilities across various industries and rising noise levels from multiple manufacturing plants and their associated discomfort to humans are expected to drive the demand for acoustic camera solutions in this region.
- The Aerospace industry in the Asia Pacific region has also been experiencing s steady growth, driving the demand for acoustic cameras. Along with the defense, the civil aviation industry is also witnessing significant growth. For instance, according to the Civil Aviation Administration of China, the number of air passengers in China increased from 417.78 million to 440.56 million.
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