Non-ionizing Radiation EMF Detection Measurement and Safety Market Trends

Growth Drivers

• Surge in Adoption of Smartphones – According to the data reported, in 2021, the number of smartphone subscriptions globally was around 6.1 billion, up from 5 billion in 2018. Furthermore, this figure is expected to reach 7 billion by the end of 2024.
• Rising Funds for Homeland Security – Owing to the growing danger of electronic warfare, funding in the detector industry has picked up steam in the army and homeland security sectors. With high investments, market manufacturers are concentrating on developing precise and long-lasting detectors that meet quality standards. As per data, in 2022, in the United States, the Department of Homeland Security (DHS) distributed around USD 180 billion among its 17 sub-components.
• Growth of Healthcare Industry – According to the estimates, in India, around USD 11 billion was allocated to the Ministry of Health and Family Welfare in the Union Budget for 2022-23. Furthermore, by the end of 2022, the Indian healthcare infrastructure is estimated to exceed the valuation of USD 340 billion.
• Increased Research & Development Expenditure – Manufacturers in the sector must design products to accommodate emerging innovations while also meeting the needs of a diverse range of end-users. As a result of increased R&D spending, manufacturers are involved in R&D activities to expand their product portfolio, and it is predicted to drive the market’s growth in the region. As per data by the World Bank, global research and development expenditure in proportion to gross domestic product (GDP) was around 2.63% in 2020, up from 2.2% in 2018.
• Rise of the Electronics Manufacturing Industry – According to statistics, by the end of 2025, the Indian electronics manufacturing industry is estimated to reach USD 515 billion.

Challenges

• Strict Rules and Regulations by Government
• High regulatory restrictions and rules in the military and homeland security sectors guarantee that radiation levels are kept within safe levels. Such measures have also been crucial in motivating investments in the development of cutting-edge equipment for measuring and detecting non-ionizing radiation. As a result, the government's strict rules and regulations are limiting overall growth.
• Technological Challenges are estimated to Hinder the Market Growth
• Lack of Awareness about the Benefits of Products in the Market