Global Digital Panel Meter Market size was US$ XX Bn. in 2019 and is expected to reach US$ XX Bn. by 2027, at a CAGR of 6% during forecast period.

Global Digital Panel Meter Market

The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

Market Definition:

Digital panel meter (DPM) is an electronic instrument which is used to display an input signal in digital form.These input signals includea voltage, current, resistance and temperature. They are available with an averaging function,scaling function and position meter. Digital panel meter has ability to connect and transfer data to a computer.

Market Dynamics

Growing consumer electronics industry with demand of digital panel meter and demand of advanced overload protection in meter to guard devices from electric loads are major driving factor behind the growth of market. Growing adoption of LCD and LED display screen in digital panel meter, high adoption of digital panel meter in facilities such as offices, laboratories and factories, growing need of DPM for temperature monitoring, current monitoring, water monitoring and process control applications are expected to improve the growth of market during forecast period. DPM provides some benefits such as greater functionality, better viewing experience and high accuracy which is ultimately propelling the growth of market.

However, high cost of digital panel meter compared to analog panel meter is major restraining factor that could hamper the growth of market.

Global Digital Panel Meter Market: Segmentation Analysis

By type, temperature and process panel meters segment is projected to witness fast growth of CAGR of XX% during forecast period. Temperature and process panel meter is most used type of digital panel meter.It accepts a single input and delivers a digital display output of the signal. These meters normally allow inputs from temperature sensors such as RTDs and thermocouples in addition it process signals such as 4-20 mA, 0-5 Vdc and 0-10 Vdc.Process meters are high precision electronic instruments created to measure alarm, display, and control a broad range of process variables. High adoption of these panel meters for industrial applications such as in manufacturing, automotive and healthcare is driving the growth of market.

Digital display panel is used in the variety of industries such as in manufacturing, IT and telecom, healthcare and in government industry. Manufacturing industry is projected to witness fast growth at CAGR of XX% during forecast period.
Digital panel meters applications are common in manufacturing, laboratories, chemical processing and power generation. In manufacturing they are used to display any digital parameter and they provide alarm indication. They are widely used in the chemical plants, steel plants, paper industries, plastic industries, oil refineries, fertilizer plants and beverages plants, which is propelling the growth of market.

Global Digital Panel Meter Market: Regional Analysis

Region wise, North America held the largest market share in 2019 and is expected to keep its dominance at CAGR of XX% during forecast period. The US and Canada are dominated the market. This is attributed to the massive presence of digital panel meter manufacturing companies and end user industries across the region.

High adoption of the digital panel meter instrument in various industrial supplication such as in temperature measurement, voltage and current measurement, process control and others is driving the growth of market.

Global Digital Panel Meter Market: Key Development

In June 2019, Murata Power Solutions introduced its DMS01 Series large format digital panel meters.It is developed for factory automation, laboratory instrumentation, and other industrial applications. The product line offers both process voltage and current measurement functions across a broad range.

The objective of the report is to present a comprehensive analysis of the Global Digital Panel Meter Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Digital Panel Meter Market dynamics, structure by analyzing the market segments and projects the Global Digital Panel Meter Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Digital Panel Meter Market make the report investor’s guide.