United State – Global Digital Panel Meter Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Digital Panel Meter market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global digital panel meter market size was US$ 3.1 billion in 2021. The global digital panel meter market is forecast to grow to US$ 5.5 billion by 2030, registering a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The significant applications of digital panels in electronic instruments, especially in consumer electronics, will drive the growth of the digital panel meter market during the forecast period.
When choosing a digital panel meter, many factors are taken into account, including the size, color of the numbers, and digits. Moreover, the benefits of digital panel meters over analog meters will contribute to the growth of the overall digital panel meter industry. Digital panel meters are more convenient and easy to use than analog meters. In addition, they are more accurate. Thus, it will propel the digital panel meter market forward.
The growing demand for customized meters to check and measure voltage, pressure, time, current, and vibrations will accelerate the market growth during the forecast period.
The global market for digital panel meters is also driven by increased demand from the electronics sector, which is forecast to propel market expansion throughout the forecast period.
Rising demand for meters with built-in overload protection to protect project gadgets from power loads will accelerate the market growth.
COVID-19 Impact Analysis
The global digital panel meter industry has been severely impacted by the COVID-19 outbreak. Due to the pandemic, there was a significant drop in sales and supply, mainly because of quarantines and plant closures. Thus, it hampered the growth of the overall digital panel meter market.
Regional Analysis
North America is forecast to dominate the global digital panel meter market in terms of revenue. The growth of North America’s digital panel meter market is attributed to the presence of numerous end-user industries and well-established infrastructures. In addition, the region is home to prominent developed countries, such as Canada and the US. Thus, it is driving the growth of the industry.
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During the forecast period, Europe is expected to register the highest growth rate. It is due to the existence of several consumer electronics firms, expanding demand for electronic devices, and rising demand for electronic products with built-in overload protection.
Competitors in the Market
- Siemens AG
- Red Lion Controls
- The Danaher Corporation
- Murata Power Solutions, Inc.
- OMRON Corporation
- Laurel Electronics
- PR Electronics
- Autonics USA, Inc.
- Precision Digital Corporation
- Phoenix Contact
- Zhejiang CHINT Instrument & Meters Co., Ltd.
- Meco Instrument s Pvt. Ltd.
- Carlo Gavazzi Automation S.p.A.
- Lascar Electronics
- Galco Industrial Electronics
- Taik Electric
- Other Prominent Players
Market Segmentation
Based on product type, the digital panel meter market is segmented into-
- Totalizer
- Multi-input Indicators and scanner
- Temperature and Process Panel Meters
- Others
Based on application, the digital panel meter market is segmented into-
- Display Current
- Display Voltage
- Display Temperature
- Others
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Based on Region, the digital panel meter market is segmented into-
North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Key questions answered in the global Digital Panel Meter market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Digital Panel Meter market over the forecast period?
- What are the factors driving and restraining the market for Digital Panel Meter?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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