The global digital panel meter market is expected to grow at USD ~3,251 Million by 2023, at ~6% of CAGR between 2017 and 2023.
Top Drivers and Key Restraints
The digital displays have gained immense popularity in various industrial applications for the purpose of displaying output results digitally. The pharmaceuticals, manufacturing, healthcare and various other industries are making extensive use of the digital display meters to measure the required output from data signals like time, current, voltage and others. Digital panel meters enjoy more demand compared to analog ones since they are more convenient, are easy to operate and generate accurate data compared to analog, as the numbers are shown directly on the display.
The digital panel meter manufacturers are focusing on developing digital display meters as per the requirement of the industry users, for measuring current, time, voltage, and others. These meters are used for other aspects as well, such as vibrations and pressure, etc. These appealing qualities of digital display meters have led to its robust demand across different industry verticals. The manufacturing sector deploys digital display meters owing to their computer-generated numeric displays coupled with the ability to produce easy and quick monitoring readings.
Mobile communication device applications are estimated to gain the highest momentum in the worldwide market. Primary products in the mobile communication device market are tablets and smartphones, which can note further growth and demand in the coming years, which is set to work in favor of the digital panel meter market during the conjectured timeframe.
Regional Analysis
Based on region, the digital panel meter market covers latest trends and growth opportunities across North America, Rest of the World, Europe and Asia Pacific. Of these, North America will steer the market over the estimated years. This is due to extensive use of digital panel meters in the electronics sector for electronic measurement coupled with rapidly advancing technologies. The US is the key contributor here due to the growth of the electronics industry. The digital panel meter market in the APAC region will increase rapidly over the estimated years owing to the development of the electronic sector here. The developing countries mainly China and India backed by both their well-established and huge electronics market will boost the market growth in this region. The digital panel meter market in the European region is poised to have a substantial growth owing to the growing investments due to government initiatives as well as roll-outs here. The market is expanding owing to increasing use of the digital panel meter and rising technological enhancements.
Key Players
Leading players profiled in the digital panel meter market include Laurel Electronics (US), Autonics USA, Inc. (US), PR Electronics (Denmark), Precision Digital Corporation (US), Phoenix Contact (Germany), OMRON Corporation (Japan), The Danaher Corporation (US), Red Lion Controls (US), Siemens AG (German), and Murata Power Solutions, Inc., (US).
August 2018- Leading home energy management company, Blue Line Innovations has unveiled its next creation, the EnergyCloud platform for light commercial and residential markets. This patented solution offers anytime, anywhere, real time, relevant energy consumption information as well as offers appliance and whole home level reporting. The universal, meter agnostic solution offers full flexibility working on smart, mechanical and digital panel meters. Its key objective is in offering users with real time information which they require for making informed energy use decisions to aid them save money.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
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