Electronic Measuring System Market Size, Share, Growth, And Industry Analysis, By Type (Multimeters, Spectrum Analyzers, Power Meters, Frequency Counters and Sensors), By Application (Construction Industry, Food Processing Industry, Material Processing Industry and Pharmaceutical Industry), Regional Forecast To 2031

Updated On: 22 April 2024

Electronic Measuring System Market Report Overview

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The global electronic measuring system market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Electronic measuring systems are devices that measure and record numerous physical quantities including voltage, current, resistance, frequency, temperature, pressure, and so on using electronic signals and digital processing. They typically consist of one or more sensors or transducers that transform the physical amount being measured into an electrical signal, which is subsequently amplified, filtered, and digitalized by the measuring device. Scientific research, industrial manufacture, medical diagnosis, and many more sectors where precise and accurate measurements are critical use electronic measuring devices extensively. Digital multimeters, oscilloscopes, spectrum analyzers, data loggers, and temperature controls are a few obvious applications of measurement systems.

Due to a number of causes, including the rising need for precision measurement in sectors including healthcare, automotive, and aerospace, the market for electronic measuring systems is expanding. The rise has also been aided by technological development, the demand for automation, and the requirement for quality assurance. Also, the market has been opened up to smaller enterprises and industries thanks to the accessibility of inexpensive and simple-to-use measuring devices. The market's development potential has also been increased by the growing use of the Internet of Things (IoT) and the integration of measuring systems with cloud-based services.

COVID-19 Impact: Decrease in Output Led to the Fall in Need for the Systems 

The market for electronic measuring systems has been negatively impacted by the COVID-19 epidemic in a number of ways. The epidemic hampered the global supply chains, resulting in delays and shortages of raw materials and electronic components, raising production costs and decreasing profitability. Additionally, due to decreased output and consumption, the pandemic had led to a fall in the need for electronic systems in several businesses, resulting in lower sales and revenue. Due to reduced output and travel limitations, for instance, the demand for measuring equipment had decreased in the automobile and aerospace industries.

Latest Trends

"Implementation of Advanced Technologies in the Systems Allow Analysis of  Complex Data"

The growing acceptance of Industry 4.0 and the Internet of Things is one of the most recent trends in the market for electronic measuring systems (IoT). Due to this, intelligent measurement systems have been created that can interact in real-time with various systems and devices, allowing for the analysis of data and the making of decisions. The incorporation of artificial intelligence (AI) and machine learning (ML) into the measuring systems, which may automate measurement and testing procedures and offer insights into complex data, is another emerging trend. In addition, there is a rising need for wireless and portable measurement devices that are simple to use in a variety of settings and can be carried around.

Electronic Measuring System Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Multimeters, Spectrum Analyzers, Power Meters, Frequency Counters and Sensors

• By Application Analysis

Based on application, the market can be divided into Construction Industry, Food Processing Industry, Material Processing Industry and Pharmaceutical Industry

Driving Factors

"Growing Demand for Quality Control is Driving the Need for Measuring Systems"

The market of electronic measuring system is expanding as a result of the rising demand for quality control. Electronic systems are employed in a number of sectors, including manufacturing, pharmaceuticals, food and beverage processing, to guarantee that goods satisfy high quality standards. Electronic measuring devices are crucial for guaranteeing product quality as they can identify even the smallest changes in physical quantities. The need for these measuring systems is being driven by this issue, particularly in emerging countries where quality control norms are being more strictly upheld.

"Electronic Systems Industry is Being Driven by Increasing Use of Automation"

The market for electronic measuring systems is expanding as automation is being adopted more widely across a number of industries. Electronic measuring devices are crucial for the accurate and exact measurement of physical quantities required by automated production processes. Real-time decision-making and process optimization are also made possible by the integration of electronic measuring equipment with automation software and data analysis tools. The demand for electronic systems is being driven by this factor in sectors such as automotive, aerospace, and energy.

Restraining Factors

"High Cost of the Systems Could Obstruct the Market from Growing"

The high cost of various measuring systems is one of the factors that restricts the electronic measuring system market growth. Electronic systems are sometimes expensive to create and buy since they require sophisticated hardware and software. The high price may prevent some companies, particularly those in developing nations and small businesses, from adopting the equipment. The demand for electronic measurement devices may also decline when some end users choose less precise or dependable cheaper alternatives. Manufacturers and service providers of electronic systems may have decreased profitability as a result, which could restrict their capacity to compete in the market.

Electronic Measuring System Market Regional Insights

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"High Demand from the Electronic Industries are Promoting the Asia Pacific Market Expansion"

First off, the area is home to some of the biggest electronics producers in the world, including Samsung, LG, and Sony. To make sure that their products fulfill high quality standards, these firms use electronic equipment. The strong supply chain for the measuring systems in the area has been developed as a result of the high demand from these manufacturers, which is fueling market expansion. Furthermore, the Asia Pacific area has a sizable customer base, with the need for measurement systems being driven by developing nations notably China and India. As these economies rapidly industrialize, there is an increasing demand for precise and effective measurement solutions across a range of sectors, including the automobile, aerospace, and healthcare industries. Overall, the combination of factors has made Asia Pacific to hold the largest electronic measuring system market share.

Key Industry Players

"Key Players Focus on Forging Strategic Alliances to Increase their Customer Base"

Players in the measurement system market are pursuing a number of actions to expand their market share. To diversify their product lines and access new markets, makers of electronic measuring systems are forging strategic alliances and buying rival firms. Electronic measurement system manufacturers are offering a wider choice of solutions to end customers and expand their market share by cooperating with businesses that have similar goods or expertise. The demand for precise and effective measurement systems is also expanding in emerging nations such as China, India, and Southeast Asia, where electronic system makers are placing a greater emphasis. Manufacturers can expand their customer bases and market share by investing in these markets.

List of Market Players Profiled

• Electronic Systems (U.S.)
• Rohde&Schwarz (Germany)
• TEWS Elektronik (Germany)
• OMEGA Engineering (U.S.)
• Siko (Germany)
• Tektronix (U.S.)
• Aim (South Korea)
• Thurlby Thandar (U.K.)
• Robert Bosch Tool (Germany)
• Spanesi (Italy)

Report Coverage

This report covers the electronic measuring system market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.