Market Dynamics
Market Drivers
Industrial Maintenance Optimization for Machine Safety and Efficiency
Acoustic cameras are utilized to identify and locate sound and frequencies to identify material defects before they cause infrastructure or equipment failure. They are employed to increase the safety of both tested and untested products. The majority of experiments pose no risk whatsoever to users. The acoustic camera is a preventive measure in industries where volatile or high-pressure equipment and machinery are manufactured or used. The acoustic camera aims to find and fix potentially dangerous problems. An acoustic camera is dependable in eliminating the possibility of error or inaccuracy. Given these elements, the influence of this driver is significant right now and is anticipated to stay that way during the projected period.
Stringent Safety and Government Regulations
Strict product usage guidelines, quality control specifications, and government safety regulations drive the global market. The governments of different countries have taken initiatives to avoid incidents that have occurred in the past, such as leakages in nuclear reactors, pipeline explosions, and refinery blasts. The U.S. government has made it mandatory for manufacturers of acoustic cameras to engage in inspection activities regularly. In addition, the European Committee for Standardization (CEN) is the recognized European association for planning, drafting, and adopting European Standards in all areas of economic activity, except for electro-technology and telecommunication. Therefore, stringent safety government regulations drive the growth of the global market.
Market Restraint
High Manufacturing and Maintenance Cost of Acoustic Camera
The acoustic camera is expensive and faces significant obstacles to its adoption, majorly in developing countries. The market's expansion is hindered by inadequate government financing in developing nations like South Korea, Qatar, and others for the adoption of security technology across a range of end users. In addition, improved technology requires significant investment, which is a hurdle for the market for acoustic cameras. These cameras require expensive installation and upkeep, which raises the price of the equipment. Therefore, the initial investment primarily threatens developing regions or small enterprises and hampers market growth.
Market Opportunities
Increasing Usage of Advance NDT Equipment
The market for acoustic cameras is positioned for growth as non-destructive testing technology advances to provide more precise and trustworthy inspection data. Eddy-current array and phased array ultrasonic are two modern technologies included in this equipment that offer good methods for displaying data and producing inspection reports with high value for consumers. For instance, phased array ultrasonic generates an image that can decipher a color-coded c-scan. Similarly, a color-coded eddy-current array c-scan is employed to decipher the precise properties of the substance. Therefore, this advanced NDT equipment is expected to create opportunities for acoustic camera future trends and innovations.
Regional Analysis
Asia-Pacific Dominates the Global Market
Based on region, the global market is bifurcated into North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the most significant global acoustic camera market shareholder and is anticipated to exhibit a CAGR of 12.0% during the forecast period. Asia-Pacific is currently leading the acoustic camera market, and this region is anticipated to experience the quickest regional growth over the next several years. With the increased demand for security and surveillance systems, organizations across verticals realize the importance of acoustic cameras to ensure efficient detection. It is the most lucrative market for acoustic cameras due to the availability of high-end enhanced technologies, the increase in demand for smart electronics, and the growth in manufacturing industries. Moreover, several non-profit groups supporting technological advancement drive market expansion.
In addition, China is the leading revenue contributor in this region. China uses next-generation speed cameras to catch speeding drivers. These roadside cameras can catch unruly drivers just by looking at the scratches on their cars or any irregularities in the paintwork. In China, acoustic cameras can catch honking drivers with an accuracy rate of 92-95%. These cameras are being used in 40 cities and are working by capturing a two-second film of a honking car which is regarded as a first step to link car honking with penalties for a driver.
Europe is estimated to exhibit a CAGR of 8.8% over the forecast period. North America is amongst the key contributors to the global market, owing to technological advancements, innovations, and investments in the respective industries. The expansion of the North American market is attributed to the region's extensive adoption of sensor technologies, IoT, and cloud computing. In addition, smart transportation infrastructure such as smart parking, electronic toll collection, and smart traffic management systems have greater penetration in this region because of the increased adoption of acoustic cameras, which is expected to propel the market growth. The Transportation Security Agency (TSA), a U.S. Department of Homeland Security division, ensures the safety of Americans traveling abroad. For instance, on November 19, 2018, the U.S. Secret Service started testing a facial recognition system that uses security cameras to capture images of people outside the White House and match their identities. Such factors drive regional market growth.
Europe is expected to witness a high growth rate for the acoustic camera market due to a rise in demand for smart infrastructures and other connected smart devices across the region over the forecast period. The availability of smart cities and infrastructures across the region propels the market's growth. In addition, the acoustic camera market is expanding in Europe due to technological developments in various business sectors and rising consumer spending. Moreover, the rapid surge in sales of high-end digital cameras in 2018 promoted the growth of acoustic cameras in Europe, which drives the growth of the market in this region.
LAMEA holds a relatively smaller market share of the global market. The increase in demand for technological advancements among various industry verticals in Latin America fuels the growth of the acoustics camera market. The inclination toward advanced technological products, increase in investments in various industry verticals, and growth in R&D facilities drive the growth of the LAMEA acoustic camera market. The expansion of the Internet of Things, increased demand for cutting-edge technologies in the automotive and aerospace and defense sectors, and the widespread use of smartphones are all factors propelling the development of the LAMEA acoustic camera market.
Segmental Analysis
The global acoustic camera market is segmented by array type, measurement type, application, and end-user.
Based on array type, the global market is segmented into 2D and 3D.
The 2D segment owns the highest market share and is estimated to exhibit a CAGR of 9.7% during the forecast period. The 2D acoustic camera uses a unidirectional microphone array to map the targeted area's image. These acoustic cameras are best suited for planar surfaces examined from perpendicular deployments. Acoustic cameras, among other industry verticals, are used for automotive, transport, defense, and aerospace applications. In addition, growth in adopting automated systems for imaging and mapping the sites in various applications, such as in manufacturing plants and warehouses, drives the market demand. These cameras are deployed in automotive workshops and factories for variant analysis and another measurement process, which is expected to boost the demand for these cameras.
3D imaging acoustic camera uses a three-dimensional microphone array for mapping and generating images with details of the captured site. Based on the application, the microphones and array size can be chosen. These are applied in industrial verticals such as automotive, wind energy, environmental, transportation, aerospace, and many more industries. In addition, the increase in sales of various consumer electronic products has pushed the manufacturing rate to a greater extent. This requires rapid production with zero measurement and functional errors, generating the need for an acoustic camera for error detection.
Based on measurement type, the global market is bifurcated into the far field and near field.
The near-field segment dominates the global market and is projected to exhibit a CAGR of 10.4% over the forecast period. Near-field acoustic cameras are used for imaging the physical quantities closer to their source. These cameras are deployed to generate detailed images of physical quantities in a nearer environment over wide broadband. The resulting visuals can be animated and recorded with sound to further investigate and illustrate the phase or sound wave. In addition, near-field acoustic cameras are used in automotive measurement and noise source detection. They can plot the pressure, particle velocity, or intensity results over a wide frequency range. When placed close to the noise source, these cameras function best on relatively flat structures. Therefore, the abilities of the near field acoustic cameras increase its market demand.
Far-field acoustic cameras are used for imaging the physical quantities distant from their source. These cameras are deployed to generate detailed images of physical quantities in a larger area. Far-field acoustic cameras are used at manufacturing plant sites and in the aerospace and defense industry. The growth in the industrial sector, advancement in the defense and aerospace industry, and rise in demand for advanced measurement systems drive the growth of the far-field global market. Moreover, the rise in the adoption of acoustic cameras at hazardous sites for error detection as a safety parameter further contributes to market growth.
Based on application, the global market is divided into noise source detection, leak detection, and others.
The noise source detection segment is the highest contributor to the market and is estimated to exhibit a CAGR of 9.61% over the forecast period. Noise source detection is a technique where sound waves are generated and transmitted in the external space. These waves, when captured back by the receiver, are mapped. The imaging of the captured sound waves is then utilized for noise source detection. The technique is increasingly being adopted in the automotive, aerospace, and manufacturing units, among other sectors, to detect any noise source. The advancement of acoustic cameras for detecting noise in test passenger vehicles, industrial vehicles, heavy machinery, and electronic equipment increases the market demand.
Leak detection uses mostly hand-held, low-threshold, low-cost acoustic cameras that are fit for leak detection. Applications such as leak detection in doors and windows and containers used in manufacturing units and plants boost the demand for acoustic cameras. The advancement of acoustic cameras for leak detection has increased the market demand. For instance, Sinus AC 100 by AcSoft provides user-portable, omnidirectional soundwave transmitting technology and a source that avoids noise interruptions, further enhancing the process efficiency.
Based on end-user, the global market is divided into industrial, aerospace and defense, infrastructure, energy and power, automotive, and others.
The industrial segment is the largest revenue contributor to the market and is expected to exhibit a CAGR of 10.2% over the forecast period. The industrial sector includes manufacturing units, factories, workshops, warehouses, and mining sites. The industrial vertical deploys long- and short-range acoustic cameras to detect leaks and noise. Industries have become aware of the damaging effects of loud working conditions on their employees' health. Therefore, they are adopting new solutions to lower the noise in and around the workplace. Industries' adoption of the acoustic camera to identify the primary contributors to the total dB levels is anticipated to promote market expansion in this industrial sector.
The aerospace and defense sector possesses massive use of weapons, vehicles, armored vehicles, airplanes, and ships. The system, motives, and equipment used in the vertical must detect, locate, identify, and categorize the sound source to work effectively. Therefore, an increase in demand for acoustic cameras has been noticed in this sector. In the aerospace industry, research and development are crucial, as a failure of components can have major implications. It is necessary to understand component behavior and response over certain situations. The use of an acoustic camera helps direct the detection of part failure.
