Acoustic Camera Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The acoustic camera market is expected to register a CAGR of 4% over the forecast period (2021 - 2026). An acoustic camera is an innovative way of locating, visualizing, quantizing, and auraling sound sources. It uses the capabilities of a microphone array with a camera to “paint” a picture of the sound and the various sound intensities.

• The drivers responsible for the growth of the market include the growing adoption of room and building acoustics, and emerging audio and video combined microphone and camera array technology.
• The rise in demand for process automation, adoption of artificial intelligence and machine learning, and stringent regulation against noise pollution is also responsible for the growth of the acoustic camera market.
• The market is highly competitive in terms of varying prices of raw materials, and advancement in technology in the market has completely shifted the industries toward the adoption of automation. Thus, the usage of the acoustic camera provides industries the digital analysis to find faults in the machines by mapping of the machine in its initial face and after the fault.
• Therefore, the usage of the acoustic camera market has been increased in sectors such as energy and power, which in turn boost the acoustic camera market trends.
• Due to the adoption of inorganic strategies by established players, there is a tight competition for new entrants, thereby restricting the growth of the market. The high manufacturing cost of the product is hindering the growth of the market.

Key Market Trends

Automotive Expected to Witness Significant Growth

• Automotive is expected to witness significant growth for the acoustic camera market. The Automotive industry is growing due to the latest new technologies and new additions such as electric vehicles and autonomous cars.
• Testing of noise, vibration, and harshness has up-scaled with these new technologies. 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 sector is growing in the APAC region due to the advanced manufacturing process available in countries such as China and Japan.
• In July 2019, the European Union announced that it requires electric and hybrid vehicles at speeds below 20 km/h (12 mph) to have Acoustic Vehicle Alerting Systems (AVAS) to protect pedestrians.

Asia-Pacific Expected to Witness Significant Growth

• Asia-Pacific is expected to witness significant growth for the acoustic camera market. Automotive industries in Asia-Pacific increased in the past few years. The growth 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.
• Manufacturers belonging to the region are adopting new techniques in manufacturing to reduce costs, save time, increase efficiency, and improve product quality. These factors will continue to propel the demand for acoustic cameras in these industries in APAC during the forecast period.
• Increasing manufacturing facilities across various industries and rising noise levels from various manufacturing plants and its associated discomfort to humans are expected to drive the demand for acoustic camera solutions in this region.

Competitive Landscape

The acoustic camera market is fragmented and is highly competitive. Various companies are focusing on growth strategies such as product launches as well as many mergers and acquisitions are taking place in the market. The market players are expecting lucrative opportunities in the future with the rising demand for acoustic cameras.

• October 2018 - Norsonic AS released a new software version for the acoustic camera with added hardware support Hextile and Multitile (triple-Hextile), and custom ArrayGroups with templates for hexagonal.
• April 2018 - Brüel & Kjær signed a merger agreement with Hottinger Baldwin Messtechnik GmbH (UK). This merger came into effect on January 1, 2019, and the company is named as Hottinger, Brüel & Kjær (HBK). Due to this merger, HBK actively drives the digital transformation of the end-use industry.

Reasons to Purchase this report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.