Businesses across different industries are striving not only to reopen but also to grow. Business leaders are leveraging the rescue packages from the government to restructure themselves with digital conversions and agile organizational structures. They are taking swift actions to get ready for greater resilience and better productivity in a future where the usual business does not exist. The industry leaders are investing in future technologies to automate facilities and physical processes to comply with social distancing norms.
The industrial sector is transforming towards centralized and automated non-core tasks. The businesses are evaluating and re-aligning service capabilities and network models to adapt with the new normal. To overcome the impact of disrupted supply chain models, the businesses are creating transparent system with help of big data, connected ecosystem and intelligent system. Besides all the organizational level changes, the market players in industrial sector are increasing work safety precautions to fall in line with the social-distancing norms issued by the government.
Electronic measuring systems come under the category of testing and measuring equipment. Electronic measuring systems are becoming more common in the field of manufacturing, maintenance, and education due to strict and rigorous – quality, safety and environmental standards. Electronic measuring devices are also very reliable tool for measuring and validating the function and performance of complex production processes.
Electronic measuring systems have a wide range of applications in the field of manufacturing, right from the beginning of product design to product development and quality control. Electronic measuring systems also find their significant utilization in the field of construction industry, food processing industry, material processing industry, pharmaceutical industry etc. These systems are reliable and quick in response compared with other mechanical measuring systems.
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Over the last couple of years, due to better performance offered by electronic measuring systems, their demand in the global market has increased significantly. Different types of electronic measuring systems such as multimeters, LCR meters, power meters, spectrum analyzers, frequency counters, transducer, sensors etc. are available in the market which are used to measure the voltage, current, power, resistance, frequency, capacitance, dimensions, temperature, humidity, pressure, force etc.
during the testing of electrical and mechanical system. These electronic measuring systems are generally sold through three main sales channel, which include super markets, retail stores and online portals. Owing to their increasing demand from various end-use industries, the electronic measuring system market is expected to grow at a high CAGR over the forecast period of 2016-2026.
Global Electronic Measuring System: Market Dynamics
To meet with the industry standards and keep the customer base satisfied, quality of products has become a crucial issue among product manufacturers. Electronic measuring systems help industries to track down the defect in products easily, which in turn, results in better productivity. Food processing industries, material processing industries, electrical equipment manufacturers, and pharmaceutical industries are the major end users for general purpose electronic measuring systems.
Competition among these end-use industry players is leading them to adopt better products grades, requiring more technical innovations and need for advanced electronic measuring systems. Besides, technological innovations in the field of semi-conductor, biotechnology and medical devices are also contributing towards the growth of the global electronic measuring systems market. With continuous improvement in internet technology, telecom sector is also expected to fuel demand for electronic measuring systems over the forecast period.
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Global Electronic Measuring System Market Segmentation:
The global market for electronic measuring system is segmented on the basis of type, end-use industry, sales channel and region.
On the basis of type, global electronic measuring system market is segmented into multimeters, spectrum analyzers, power meters, frequency counters, sensors and transducers. Sensors can further be sub-segmented as temperature & humidity measuring sensors and transducers can be sub-segmented into pressure measuring transducers and force measuring transducers.
On the basis of end use industry, global electronic measuring system market is segmented into manufacturing sector, food processing industry, pulp & paper industry, pharmaceutical industry, health care, construction, power sector, electronics & IT, and education.
On the basis of sales channel, global electronic measuring system market is segmented into super market, retail stores and online sales.
Regionally, global electronic measuring system market is segmented into seven key regions, namely, North America, Latin America, Western Europe, Middle East & Africa, Eastern Europe, Japan and Asia Pacific excluding Japan (APEJ).
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Global Electronic Measuring System Market players:
The major players identified across value chain of electronic measuring system include:
- Electronic SYSTEMS S.p.A.,
- TEWS Elektronik,
- OMEGA Engineering inc,
- SIKO GmbH,
- TEKTRONIX, INC,
- Thurlby Thandar Instruments
- Robert Bosch Tool Corporation.