Global Digital Panel Meter Market growing at a CAGR of 5.70% from 2023 to 2031
Category : Semiconductor And Electronics | Published Date : Sep 2023
Key Market Overview
The Global Digital Panel Meter Market was valued at USD 3,472.81 Million in 2022, projected to grow by USD 3,602.23 Million in 2023, and is expected to register a compound annual growth rate of 5.70% to reach USD 5,612.34 Million in 2031.
The report highlights the increasing adoption of digital panel meters in electronics & semiconductor, automotive, residential, and other sectors. Consegic Business Intelligence provides an inclusive research report on the digital panel meter market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Digital Panel Meter Market By Overview
The report analyses significant segments such as type, end-user, and region, to identify emerging trends and potential opportunities. The type segment is expected to grow due to the increasing adoption of temperature and process panel meters in electronics & semiconductor, automotive, and other sectors. Moreover, the rising innovations associated with flow rate totalizers and its increasing deployment in chemical, water treatment, and other related industries is expected to drive the market growth during the forecast period.
Get Free SampleMarket Dynamics
Driver:
- Rising utilization of digital panel meter in electronics & semiconductor sector is driving the market growth.
- Growing automotive industry is spurring the market growth.
Restraints:
- Availability of substitute is restraining the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Temperature and Process Panel Meters, Flow Rate Totalizer, Multi-Input Indicators and Scanners |
| By End-User | Electronics & Semiconductor, Automotive, Residential, Commercial, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global digital panel meter market is highly competitive due to the presence of major players such as Murata Manufacturing Co. Ltd., Precision Digital Corporation, OMRON Corporation, Red Lion, and others operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in digital panel meter market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Murata Manufacturing Co. Ltd.
- Precision Digital Corporation
- OMRON Corporation
- Red Lion
- Zhejiang Chint Instrument & Meter Co. Ltd.
- Lascar Electronics
- Carlo Gavazzi
- Phoenix Contact
- PR Electronics
- Jewell Instruments
- Laurel Electronics Inc.