Global Digital Panel Meter Market Report 2023: Rising Adoption of Digital Panels in Various Verticals Such as Consumer Electronics Drives Growth

DUBLIN, July 10, 2023 /PRNewswire/ -- The "Digital Panel Meter Market Share, Size, Trends, Industry Analysis Report, By Type, By Application, By Region, Segment Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.

The global digital panel meter market size is expected to reach USD 5578.85 million by 2032, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth. 

Increasing technological developments and major players' focus on the creation are predicted to accelerate the growth of the market. Different screen sizes and hues, including red, green, golden, blue, yellow, orange, and aqua, make digital panel meters readily recognizable in low light. 

Furthermore, digital panel meters can contain several features, including USB ports for the apparatus or device and alarms, adjustment displays, set point options, and extra channels.

For instance, in February 2022, ABB India introduced a new line of power monitoring and electrical measuring meters for electrical & control panels. The newly released meters are a component of ABB's M1M product series, which also includes the M1M11, M1MDS, M1M20B, & M1M30B models. These new digital meters of the ABB have various benefits such as alarms, displays, and USD ports among others.

Additionally, the use of multi-channel indicators and scanners is growing. It is widely installed for sensing, indicating the many parameters of the system. It might have built-in alarms that sound if the output signals fluctuate outside of a predetermined range. Over the market forecast period, it is projected that this product launch will increase demand for digital panel meters.

Additionally, digital panel meters are increasingly being used, which improves viewing quality, increases accuracy, and enhance functionality - all of which contribute to the market's expansion. Demand for the product will also increase due to rising demand from the consumer electronics sector and built-in overload protection in meters that safeguard machinery from changing loads. The market for digital panel meters may also be hampered by the need to tune circuits and modify responses.

Companies Mentioned

• Autonics USA Inc.
• Crouzet
• Carlo Gavazzi
• Galco Industrial Electronics
• Lascar Electronics Inc.
• Meco Instruments Pvt. Ltd.
• Murata Power Solutions Inc.
• OMEGA Engineering Inc.
• Omron Corporation
• Phoenix Contact GmbH
• Precision Digital Corporation
• PR Electronics
• Red Lion Controls Inc.
• Siemens AG
• Trumeter
• Yokogawa Meters & Instrumentation
• Zhejiang CHINT Instrument Co. Ltd.

Digital Panel Meter Market Report Highlights

• Temperature & process meters segment registered a highest CAGR during the forecast period due to rise in the demand for process control & temperature measurement across numerous industries.
• The display current segment accounted for major global revenue share due to its extensive use in the industrial equipment and power sectors.
• Europe is expected to grow at a highest CAGR during the projected period. The need for the digital panel meter market is rising because there are many consumer electronics firms, there is a large market for electronic devices, and there is a large market for electronic products with built-in overload protection.

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Research Methodology

4. Global Digital Panel Meter Market Insights
4.1. Digital Panel Meter Market - Industry Snapshot
4.2. Digital Panel Meter Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Rising adoption of digital panels in various verticals such as consumer electronics
4.2.2. Restraints and Challenges
4.2.2.1. High cost production
4.3. Porter's Five Forces Analysis
4.4. PESTLE Analysis
4.5. Digital Panel Meter Industry trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Digital Panel Meter Market, by Type

6. Global Digital Panel Meter Market, by Application

7. Global Digital Panel Meter Market, by Geography

8. Competitive Landscape

9. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/hcohji

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets