Digital Panel Meter Market to Reach 3,251 Mn. USD Approx. by 2023 :

Pune, India,  July 16, 2018/MRFR Press Release/- Market Research Future published a cooked research report on “Global Digital Panel Meter  Market Research Report - Forecast to 2023”  – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Digital Panel Meters are used in electrical and electronic devices for monitoring vital statistics. These instruments receive information from an input signal, measure and display it and can monitor the variations taking place in an instrument’s pressure, current, frequency voltage, and temperature, which is crucial to keep the devices running smoothly. These meters can also accurately calculate the electrical consumption.

Digital Panel Meters are majorly used to measure the temperature, for instance, the temperature details mentioned in the information panel of an air conditioner; this information is displayed with a panel meter. Digital panel meters owing to their accuracy and ease of reading, are increasingly replacing analog panel meters. Resultantly, the uptake of digital panel meters is growing rapidly, escalating its market size on the global platform.

Acknowledging the traction the market is garnering currently, demonstrating the growth prospects worldwide, Market Research Future (MRFR) in its recently published study report, asserts that the global digital panel meter market is estimated to expand to approximately 3,251 Mn. USD by 2023 registering a staggering, approximately  6% CAGR between 2017 to 2023.

Factors driving the market growth of digital panel meter include; augmenting demand from the burgeoning electrical and industrial industries. Besides, the panel meter has a special built-in unit for overload protection, to protect electrical devices from electrical loads which are boosting the market growth, increasing its adoption.

Rising government initiatives and mandates to implement digital panel meters especially in household applications are driving the market growth mostly. Commercial applications of these panel meters are increasing too. Such as in automobiles to measure the fuel consumption, speed, and revolutions per minute (rpm) which are then displayed on the dashboard. In aerospace, digital panel meters are used to measure vital statistics such as speed, altitude, and other pertinent information required in operations of airplanes.

Access Report @  https://www.marketresearchfuture.com/reports/digital-panel-meter-market-4622

Digital Panel Meter Global Market   - Segmentations

For the enhanced understanding; the market is segmented into three key dynamics:--

By Cover Types : Tantalizers, Multi-Input Indicators & Scanners, Temperature, and Process Panel Meters, among others.

By Applications   : Display Current, Display Voltage, and Display Temperature

By Regions          :  North America, Europe, APAC and Rest-of-the-World (RoW).

Digital Panel Meter Global Market   - Regional Analysis

North America is the largest digital panel meter market, globally. The region is expected to retain its hegemony throughout the forecast period, marking the largest chunk of the market share. Extensive uptake of these meters for electronic measurement in the electronics industry and rapidly advancing technologies are some of the predominant factors accounting for the market growth. The U.S. is the dominating market for the Digital Panel Meter in the region owing to the proliferation of electronics industry.

On the other hand, Asia Pacific digital panel meter market is increasing rapidly, becoming one of the most lucrative markets globally. This is because of the development of the electronics industry in the region. The developing countries like India and China, backed by their huge and well-established electronics markets propel the market growth in the region. 

In Europe also, substantial growth is expected in the digital panel meter market because of the increase in the investments on account of government initiatives and roll-outs in the region. The market is increasing due to the rising technological enhancements, and the growing adoption of these meters.

Global Digital Panel Meter Market   - Competitive Analysis  

The global Digital Panel Meter market appears to be highly competitive and diversified with the presence of many well-established players having the regional and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the Digital Panel Meter market.

Key Players:

Murata Power Solutions, Inc., (US), Siemens AG (German), Red Lion Controls (US), The Danaher Corporation (US), OMRON Corporation (Japan), Phoenix Contact (Germany), Precision Digital Corporation (US), PR Electronics (Denmark), Autonics USA, Inc. (US), and Laurel Electronics (US) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Digital Panel Meter Market.

Industry/ Innovation/ Related News:

July 11, 2018 – Honda Motor Company, Ltd. (JAPAN) a multinational corporation and manufacturer of automobiles, aircraft, motorcycles, and power equipment announced that it is all set to launch its new scooter Honda PCX 125 Hybrid on September 14, this year in Japan.

It will be the first mass production of 125 cc range hybrid scooter in the world, presenting luxury design and elegant look. Honda PCX premium scooter brings the ABS type and features a full new digital panel meter with a sophisticated and informative display through additional features of driving mode, Lithium battery indicator, and battery charge level.