Radiation Monitoring Devices Market projected to be valued at US$ 2.18 billion by 2028

The Radiation Monitoring Devices Market is estimated to grow at a CAGR of 4.85% to reach US$2.183 billion by 2028 from US$1.567 billion in 2021.

NOIDA, UTTAR PRADESH, INDIA, August 16, 2023/EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the Radiation Monitoring Devices Market is projected to grow at a CAGR of 4.85% between 2023 and 2028 to reach US$2.183 billion by 2028.

The prime factors propelling the radiation monitoring devices market growth include technological advancements enabling more accurate and sensitive detection, increasing awareness about radiation safety in various industries, stringent regulations mandating radiation monitoring, and the growing demand for nuclear power and medical imaging applications. Additionally, the rising concerns over potential nuclear threats and the need for effective environmental radiation monitoring further contribute to the expansion of this market.

A radiation monitoring device is a specialized instrument designed to detect, measure, and analyze the presence and intensity of various types of ionizing radiation, such as gamma rays, X-rays, and alpha or beta particles. These devices play a crucial role in ensuring the safety of individuals, environments, and industries by providing real-time data on radiation levels, enabling timely responses to potential hazards, and facilitating compliance with regulatory standards. They are utilized across a wide range of applications, including nuclear power plant sensors, medical facilities, industrial settings, environmental monitoring, and emergency response scenarios, helping to minimize radiation-related risks and ensuring the well-being of both human health and the environment.

The radiation monitoring devices market is witnessing multiple collaborations and technological advancements, for instance, in April 2023 Tracerco launched PED2, an advanced personal electronic dosimeter with patented detection tech for improved radiological safety. It offers easy monitoring, a rugged design, and reliable dose measurement. Supported by cloud-based software, DoseVision2, PED2 is aimed at industrial, emergency, and oil and gas sectors, providing enhanced user-friendliness in radiation monitoring.

Access sample report or view details:
https://www.knowledge-sourcing.com/report/radiation-monitoring-devices-market

Based on device type, the market is segmented into survey meters, detectors, and personal dosimeters. Among these segments, survey meters are witnessing significant growth in the market. The power & energy industry extensively employs survey meters, as these devices provide quick, comprehensive radiation measurements over large areas. Survey meters enable efficient monitoring of radiation levels in nuclear power plants, aiding in identifying potential hazards, optimizing reactor performance, and ensuring regulatory compliance. This heightened demand for survey meters in the booming radiation monitoring device market drives their rapid growth and positions them as a pivotal market segment.

Based on radiation type, the radiation monitoring devices market is divided into alpha, beta, gamma, and neutron. Among these, the gamma radiation monitoring segment is witnessing substantial growth in the market. Gamma radiation is prevalent in various industries, including nuclear power, medicine, and manufacturing, making it crucial to monitor. The ability of gamma radiation monitoring devices to accurately measure high-energy gamma rays, coupled with their wide applicability across diverse sectors, contributes to their increasing demand and prominence within the market.

Based on end-user, the radiation monitoring devices market is segmented as power & energy, chemicals, mining, and others. The power & energy sector is witnessing significant market expansion. The power & energy industry extensively utilizes radiation monitoring devices to ensure the safety of nuclear power generation and to maintain compliance with stringent regulatory standards. As nuclear energy gains traction as a clean and efficient power source in the world, the demand for radiation monitoring devices within the power & energy sector is expected to experience significant growth, further solidifying the dominance of this market segment.

Geographically, the Asia-Pacific region is expected to dominate the radiation monitoring device market owing to its rapid industrialization, increasing energy demand, and expanding healthcare infrastructure. The region's growing nuclear power generation, coupled with heightened awareness about radiation safety and stringent regulations, drives the demand for reliable monitoring solutions. Moreover, rising concerns about environmental pollution and the need for disaster preparedness enhance the adoption of radiation monitoring devices across industries and government sectors, positioning Asia-Pacific as a key market player in the global radiation monitoring industry.

As a part of the report, the major players operating in the radiation monitoring devices market that have been covered include Radiation Monitoring Devices Inc., Thermo Fisher Scientific Inc., Fuji Electric Co. Ltd, Mirion Technologies Inc., Bertin Technologies, Berthold Technologies GmbH & Co KG, Coliy Group, Nucleonix System, Arktis Radiation Detection Ltd., and Radmetron Ltd. among other significant market players.

The market report segments the radiation monitoring devices market as follows:

• By Device Type

o Survey Meters
o Detectors
o Personal Dosimeter

• By Radiation Type

o Alpha
o Beta
o Gamma
o Neutron

• By End-User

o Power & Energy
o Chemicals
o Mining
o Others

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others

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Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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