Electronic Measuring Device Market
Electronic Measuring Device Market Share & Trends Analysis, By Type (Calibration Equipment, Testing Equipment/Device), By Product Type (Portable, Stationary), By End-Use Industry (Electronics, Telecommunications, Others), By Sales Channel (Direct Sales, Indirect Sales) & By Region Forecast, 2021-2031
Analysis of Electronic Measuring Device market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Market Introduction and Definition
Electronic measuring devices are used to test the performance, calibrate and to diagnose the target equipment of errors. These devices are mostly used by the semiconductors, electronic device manufacturers and electronic goods service centers. Apart from the formerly mentioned consumers, electronic measuring instruments are also used by in-house component manufacturing industries such as healthcare, automotive, aerospace and others.
Comprehending the aforementioned factors leads to a conclusion that the product sales is diversified. Apart from diversification analysis, other factors such as product penetration and trade has been mentioned in depth in the report.
Electronic Measuring Device Market Forecast and CAGR
Past-half decade acted as a promising period for the electronic measuring device market owing to the rapid growth of electronics especially semiconductor industry. Extensive investment in the electronics industry has paved way for the extensive sales of electronic measuring instrument in the industry.
Electronics industry has expanded at a phenomenal rate over the past half-decade not only in terms of value but also in terms of technology. This has led to the growth in prices of the product by nearly 1.5 folds over the same period. Apart from the nominal pricing consideration, Fact.MR has also considered “Hedonic Pricing” to analyze the price of the device with technological evolution.
FY2020 has been a disastrous year for the electronic industry growth. Lower consumption of electronics and shrink of spending has plummeted the demand for electronic products. This has cascaded the effect proportionally to the electronic measuring instruments. On the other hand, healthcare industry has provided a strong boost to the product owing to surge in manufacturing of the ventilator and oxygen concentrators across the globe.
COVID-19 second wave created havoc across the globe and has slowly initiated the lockdown momentum across the region. This is anticipated to shrink the demand by 1% over FY2021. Rise in the demand curve to pre-COVID levels is set to reach by Q2 of FY2022.
What is Driving Demand for Electronic Measuring Device?
Strengthening electronic measuring devices supply chain on the back of electronics industry growth provides an image of strong product portfolio across the regions. Electronics industry has bolstered not only in terms of goods but also services. Over the past half-decade, electronic goods servicing cost has spiked up at higher rate which has cascaded the rise in prices and demand for the electronic measuring instruments.
Moreover, advancements in electronics industry has kept the investments in the electronic measuring devices strong which is anticipated to strengthen the overall market stance over long-run forecast period. Apart from electronic industry strengthening the demand for the product, this report is anticipated to contain more than 50+ factors which has driven the sales growth.
Why Electric Vehicles Market Growth Impacts the Electronic Measuring Device Sales?
Electric vehicles production has huge impact over driving the demand for electronic measuring devices owing to the extensive development of smart dashboards in the vehicle produced. Extensive integration of electronics and semiconductor components in the automotive has flourished the electronic measuring instruments sales over the past half-decade. All in all demand for electronic devices to grow back on electronic vehicles over long-run forecast period.
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Asia Pacific Electronic Measuring Device Market Outlook
Economics of Asia Pacific has favored the electronic measuring device demand growth. Key industries such as electric vehicle and semiconductors industry have bolstered the demand for the electronic measuring instruments.
Taiwan and China acted as epicenter for semiconductor and electronic device manufacturers. These two regions together hold magnificent share of the electronic measuring device market in terms of both supply and demand. China not only is indulged in manufacturing semiconductors but also electric vehicles, therefore demand for the electronic measuring apparatus has remained on top of the charts for the electronic measuring device sales for the country across the globe.
Who are the Key Manufacturers and Suppliers of Electronic Measuring Device?
Some of the leading producers of electronic measuring device include
- B & K Precision Systems
- Teledyne LeCroy
- Keysight Technologies Inc.
- Scientific Test, Inc.
- Tektronix, Inc.
- Koyo Electronics Industries Co., Ltd
- Barth Electronics, Inc.
- Nihon Denji Sokki Co, Ltd.
- Mittal Enterprises
- Ed Corporation
- Supreme Instruments Corp.
- Hickok Incorporated
- The Heath Company
- Conar Instrument
- Brüel & Kjær.
- Precision Apparatus Corporation
- Triplett Test Equipment
Key players channeling electronic measuring devices have been constantly looking out for an expansive approach where they can diversify their product portfolio and can assign perfect product line pricing to enhance product penetration across the globe.
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Electronic Measuring Device Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
- Calibration Equipment
- Testing Equipment/Device
By Product Type
By End-Use Industry
By Sales Channel
- Direct Sales
- Indirect Sales
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- FAQs -
Electronic measuring device market is estimated to grow at a CAGR of 3.5% during the forecast period.
The demand for electrical measurement equipment in the automotive, aerospace, marine, and construction sectors.
The U.S. is likely to be a region with lucrative opportunities for the electronic measuring device manufacturers.