Electronic Volume Correctors (EVC) Market Size, Share, Growth, and Industry Analysis, By Type (Single-channel EVC and Double-channel EVC), By Application (Residential, Commercial, and Industrial), Regional Forecast to 2031

ELECTRONIC VOLUME CORRECTORS (EVC) MARKET REPORT OVERVIEW

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global electronic volume correctors (evc) market size was USD 269.8 million in 2022 and market is projected to touch 355.95 million by 2031, exhibiting a CAGR of  3.1% during the forecast period.

Electronic Volume Correctors (EVC) are primarily used by the government and the electronics sector. During the forecast period, hardware is expected to maintain its lead among component categories. The four basic hardware pieces used in these systems are cameras, sensors, radars, and jammers, as well as anti-drone guns, lasers, and these devices. They are designed to provide accurate data about incoming connectors. Certain hardware components are required for the anti-drone system to prevent threats caused by drone collisions. Various types of jammers are used to disable connectors by interfering with control signals.

Due to the advancement of drones with the deployment of broad range detecting sensors and tracking systems for monitoring micro connections, airplanes, birds, and other obstructions, there will be attractive development opportunities in the near future. Similarly, rising R&D activities for novel product innovation, combined with increasing acceptance of machine learning, artificial intelligence, and other similar developing technologies, will soon serve as trend-setters and drive the global Electronic Volume Correctors (EVC) market share and revenue systems.

COVID-19 Impact: COVID-19 to Affect the Electronic Volume Correctors (EVC) Market Growth

Covid-19 has had a negative influence on every industry, including the manufacture of anti-drone equipment, transportation, oil and gas, and infrastructure. To prevent the spread of COVID-19, various governments around the world, including those in Italy, Spain, and India, have enforced a nationwide lockdown. For example, the Indian government has proclaimed a state of emergency from March 25 to June 1, 2020. The shutdown has resulted in a labor shortage at the manufacturing plants. However, as nations such as India began the unlocking process, factories and stores began to open one by one. The COVID-19 pandemic is expected to restrain the market for Electronic Volume Correctors (EVC) during the forecast year.

Latest Trends

"Rise in Electronics Technologies to Surge To Electronic Volume Correctors (EVC) Market Growth"

The incorporation of artificial intelligence and machine learning is driving the expansion of the Electronic Volume Correctors (EVC) industry. Drone capabilities are being enhanced by recent improvements in electronic components such as cameras, processors, microcontrollers, mobile electronics, and modern computers. Drones can develop real-time maps of their voyage thanks to a faster CPU, a more advanced camera, and modern computers. Real-time connectivity maps can be created using aerial photography technologies and contemporary computing.

ELECTRONIC VOLUME CORRECTORS (EVC) MARKET SEGMENTATION

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• By Type Analysis

According to type, the market can be segmented into Single-channel EVC and Double-channel EVC amongst which the Single-channel EVC leading segment.

• By Application Analysis

Based on application, the market can be divided into Residential, Commercial, and Industrial amongst which the Residential is the leading segment.

Driving Factors

"Development in the Electronic Volume Correctors (EVC) to Drive the Electronic Volume Correctors (EVC) Market Growth"

Significant corporations are developing strategic agreements to develop cutting-edge anti-drone technologies. Using Vodafone Business' multi-access edge computing (MEC) solution, Dedrone accelerated the Dedrone Counter drone solution. This MEC system provides in-flight warnings of drone incursions and protects against drone threats. This is one element contributing to the growth of the Electronic Volume Correctors (EVC) market.

"Rise in Correctors to Proliferate the Electronic Volume Correctors (EVC) Market Growth"

The majority of enterprises and airport authorities around the world utilise Electronic Volume Correctors (EVC) to prevent connector collisions in the air. In addition to the current Electronic Volume Correctors (EVC), numerous airports are expected to install counter-connectors equipment. For example, hundreds of flights were canceled in December 2018 at Gatwick, London's largest international airport, due to corrector interference with the Electronic Volume Correctors (EVC).

Restraining Factors

"High Cost of Advanced Electronics and Systems to Restrain the Market Growth"

Counter-drone systems are used in many countries for surveillance, mapping, and surveying. Advanced sensors, propulsion systems, cutting-edge avionics, and cutting-edge flight management technology are all integrated in drone airspace security systems. The Electronic Volume Correctors (EVC) are constructed using high-quality hardware and software to meet the needs of the armed forces. All of these factors add to the overall cost of Electronic Volume Correctors (EVC).

ELECTRONIC VOLUME CORRECTORS (EVC) MARKET REGIONAL INSIGHTS

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"North America to Remain Dominant Over the Forecast Period"

North America currently dominates the worldwide Electronic Volume Correctors (EVC) market and is likely to do so over the forecast period. The cause for this rapid rise is the region's increased drone adoption in both the military and commercial sectors of its member nations, which has raised production, supply, and demand for this products and service.

Asia Pacific and Europe are expected to trail North America in terms of market share for Electronic Volume Correctors (EVC). These regions are also advancing at a far faster rate than before and during pandemics, which contributes to global demand for the product.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive"

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

LIST OF TOP ELECTRONIC VOLUME CORRECTORS (EVC) COMPANIES

• Honeywell (U.S.)
• Elgas (Australia)
• Dresser Utility Solutions (U.S.)
• ITRON (Dresser Utility Solutions) (U.S.)
• RMG (Dalian Energas) (Germany)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.