According to Stratistics MRC, the Global Explosion Proof Mobile Communication Devices Market is accounted for $555.72 million in 2021 and is expected to reach $1086.4 million by 2028 growing at a CAGR of 10.1% during the forecast period. Explosion-proof communication devices are used to transfer images, data, and voice to monitor and control places such as mines, and military and defence areas. Explosion-proof mobile communication devices are strong gadgets that are built to withstand harsh conditions. Workers in industries like oil & gas, chemicals, pharmaceuticals, mining, and others frequently use these devices.
Driver: Growing Demand for Wireless Connectivity Solution
Wireless technology is employed efficiently to transfer data over long distances. When wireless technology was created, designers had access to a lot of new applications. Since wireless technology is an electromagnetic communication medium, wave frequencies that can be used by satellites and infrared rays do not need cables and are emitted through the air. The growing wireless demand for connectivity and operations to retrieve data and its online monitoring have fuelled the growth of the market.
Restraint: Different Safety Regulation
Due to varying safety regulations country to country across the globe is restricting companies to develop products incompatible with all countries. This is one of the factors somewhere restricting the explosion-proof mobile communication devices market growth.
Opportunity: Government Rules and Regulations on the Use of Safe Equipment in Hazardous Places
Ensuring safe handling of hazardous substances in industrial areas has been a major concern for all the parties involved in the same. In the wake of industrial explosions in the oil and mining sector, governmental agencies and trade bodies of all major economies have discussed the need for stringent regulations. These regulations are centred on the use of explosion proof equipment in all major industries. All the major electrical product manufacturers have revamped their operations to account for these changes in regulations. As the oil and mining sector has witnessed a tremendous growth due to identification of substantial reserves in emerging countries, the explosion proof equipment market is expected to record high growth rates in this sector. A regulation is usually imposed by a governmental agency and trade units have to comply with them. The Dangerous substances and Explosive Atmospheres Regulation (DSEAR) has been commissioned in the United Kingdom to prescribe safety regulations for industrial areas that have a potentially hazardous environment.
Threat: Stringent Regulation Imposed on Manufacturer
The stringent regulation deployed for manufacturers of explosion proof mobile communication devices. For instance, manufacturers are must to attach CE mark to the devices fulfilling the requirements of EU laws and directives failure of which is considered an offense.
Oil & Gas segment is expected to be the largest during the forecast period
As global energy consumption increased by a good number, with growth concentrated in developing countries such as India and China. In the industry, communication devices play a critical role in improving production through real-time data transfer and communication. IoT device use is expanding throughout the sector, which means lower costs and faster operations.