Global
Digital Panel Meter Market is anticipated
to grow robustly in the forecast period, 2022-2028. Digital
panel meters are the meters that are used to display the data output from
signals in digital numbers. The rising demand from the electronics sector is
known to drive the digital panel meter market. It is also anticipated to fuel
the development of the global market over the forecast period. The demand
for digital panel meters is driven mainly by consumer electronics due to the
widespread usage of these meters in the electronics sector. Today, the
utilization of digital displays to show output results in digital data format
is becoming more and more prevalent in many commercial processes. Manufacturing,
pharmaceuticals, healthcare, and other industry utilize these digital display
meters to monitor the desired output from the data signals such as current,
time, voltage, and others in the form of digital numbers on the screen.
Adoption of LCD and
LED Screens
The displays used in
LCDs or LEDs are the primary aspects responsible for the ever-increasing demand
for display panel meters in the consumer electronics market. They show only the
needed units instead of the needle and device used in the analog meters.
This remarkable
accuracy of the constant calculation done by the digital panel meters is a significant driving factor in the demand
for digital display meters during the forecast period. The signal to the
digital panel meter can be in many different forms, including resistance, Temperature,
AC voltage, DC voltage, AC, and AC power. These meters are frequently used in
electronic instruments, especially in consumer electronics. Several factors are
considered when choosing a digital panel meter. Due to the advanced features,
digital panel adoption is increasing rapidly.
Digital
panel meters are preferred over traditional ones since the numbers are
displayed on the screen. The number of digits, size, and color of the displayed
number are some of the characteristics responsible for its rapid growth.. Thus,
digital panel meters are simpler and more convenient than their analog version,
and the data shown is more accurate. Owing to this, its market is expected to
grow with a high CAGR in the forecast period.
Latest Trend of
using Digital Glucometers & water pumps
A digital panel
meter is commonly used in electronic applications such as microwave ovens and
instrument panels containing panel meters that measure time, weight, and power.
Medical centers use digital meters such as glucometers, digital thermometers,
and oximeters, indicating various parameters. Due to the increase in the number
of latest developments and adoption of digitalization, its global market is expected to expand.
Furthermore, a water
pump works a pressure gauge panel meter and a motor RPM panel gauge to monitor
water flow in a tank and swimming group. Moreover, digital panel meters are
also used in cars and sports bikes to translate motion into digital indications
such as time, speed, total distance in kilometers or miles, etc. For
instance, in June 2019, Trumeter declared the launch of a single split, three-phase
digital APM power meter with features such as a color-changing display, Modbus
connectivity, and compact size.
Digital panel meters
are employed in multitude industries with different parameters and dimension,
contributing to the increasing demand of the digital panel meter market through
2028. For instance, the United Nations conference on trade developments FDI
investments in Asia-Pacific developing countries reached USD 619 Billion in
2021. Therefore, the growing industrial developing project in the region is
the key factor driving the market expansion.
High Cost of Digital
Panels
Price of the digital
panel meters is higher than that of analog panel meter besides increased cost
of implementation acts as a potential barrier for adoption of digital panel
meters in end use industries.

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Market Segmentation
Global Digital Panel Meter Market is segmented into type,
display technology, display type, end-user, and application. Based on type, the
market is segmented into totalizers, multi-input indicators and scanners, Temperature
and process panel meters and others. Based on display technology, the market is
segmented into LED, LCD, Sunlight Readable, Dual Line, Single Line, Bar
Graph, and others (Large Display), etc. Based on display type, the market is
divided into Numeric, Alphanumeric
and Combination. Based on end user, the market is split into IT and telecom, Manufacturing, Government,
Healthcare, Retail, Transportation, and others. Based on the application, the
market is segmented into Display Current, Display Voltage, Displays Temperature
and others.
Market Player
Major
market players in the Global Digital Panel Meter Market are
Siemens AG, Murata Power Solutions, Inc, Red Lion Controls, OMRON
Corporation, The Danaher Corporation, Phoenix Contact, PR Electronics, Precision
Digital Corporation, PR Electronics, OMEGA Engineering Inc.
Recent
Developments
· In June 2019, Murata
Power Solutions introduced its DMS01 Series wide format digital panel meter. It
was designed for industrial applications such as factory automation and laboratory
instrumentation. The product series provide a wide variety of process voltage
and current measuring capabilities.
· According to Germany's
FSO Federal statical office, countries' manufacturing companies employed over 7.4
million people in the year 2021, and there is high demand for digital equipment,
due to which countries' digitalization is increasing.
Attribute
|
Details
|
Base Year
|
2021
|
Historic Data
|
2018– 2021
|
Estimated Year
|
2022
|
Forecast Period
|
2022 – 2028
|
Quantitative Units
|
Revenue in USD Million, Volume in Units, and CAGR for
2017-2021 and 2022-2027
|
Report coverage
|
Revenue
forecast, company share, growth factors, and trends
|
Segments covered
|
·
Type
·
Display Technology
·
Display Type
·
End-User
·
Application
|
Regional scope
|
North
America; Asia-Pacific; Europe; South America; Middle East
|
Country scope
|
United States; Canada; Mexico; China; Indian; Japan; South
Korea; Australia; Singapore; Malaysia; Germany; United Kingdom; France;
Italy; Spain; Poland; Colombia; Brazil; Argentina; Peru; Chile; Africa, Saudi
Arabia; South Africa; UAE; Iraq; Turkey
|
Key companies profiled
|
Siemens AG, Murata Power Solutions, Inc, Red Lion Controls, OMRON
Corporation, The Danaher Corporation, Phoenix Contact, PR Electronics,
Precision Digital Corporation, PR
Electronics, OMEGA Engineering inc.
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
Pricing and purchase options
|
Avail customized
purchase options to meet your exact research needs. Explore purchase options
|
Delivery Format
|
PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
|
Report Scope:
In this report, the
Digital Panel Meter Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
·
Digital Panel Meter Market, By Type:
o Totalizers
o Multi-Input
Indicators and Scanners
o Temperature and
Process Panel Meters
o Others
·
Digital Panel Meter Market, By Display Technology:
o
LED
o
LCD
o
Sunlight
Readable
o
Dual
Line
o
Single
Line
o
Bar
Graph
o
Others
(Large Display, Etc.)
·
Digital Panel Meter Market, By Display Type:
o Numeric
o Alphanumeric
o Combination
·
Digital Panel Meter Market, By End-User:
o
IT
and telecom
o
Manufacturing
o
Government
o
Healthcare
o
Retail
o
Transportation
o
Others
·
Digital Panel Meter Market, By Application:
o
Display
Current
o
Display
Voltage
o
Displays
Temperature
o
Others
·
Digital Panel Meter Market, By Region:
o North America
§ United States
§ Mexico
o Asia-Pacific
§ India
§ Japan
§ South Korea
§ Australia
§ Singapore
§ Malayasia
o Europe
§ Germany
§ United Kingdom
§ France
§ Italy
§ Spain
§ Poland
§ Denmark
o South America
§ Brazil
§ Argentina
§ Colombia
§ Peru
§ Chile
o Middle East
§ South Arabia
§ South Africa
§ UAE
§ Iraq
§ Turkey
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global Digital Panel Meter Market.
Available Customizations:
Global Digital
Panel Meter Market report with
the given market data, Tech Sci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
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