Precision Meter Market Report: Trends, Forecast and Competitive Analysis to 2030

Precision Meter Market Report: Trends, Forecast and Competitive Analysis to 2030

Precision Meter Trends and Forecast

The future of the global precision meter market looks promising with opportunities in the electrical and electronics, automotive, aerospace and defense, energy and utilities, manufacturing, healthcare, research and development, others markets. The global precision meter market is expected to reach an estimated $12.9 billion by 2030 with a CAGR of 6.1% from 2024 to 2030. The major drivers for this market are globally rising demand for electricity and energy, increasing trend of industrial automation, and growing adoption of renewable energy sources.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Precision Meter by Segment

The study includes a forecast for the global precision meter by type, application, end use industry, technology, and region.

Precision Meter Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Voltage Meter
• Current Meter
• Power Meter
• Frequency Meter
• Temperature Meter
• Others

Precision Meter Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Law Enforcement and Intelligence Agencies
• Military and Defense
• Private Sector

Precision Meter Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Electrical and Electronic
• Automotive
• Aerospace and Defense
• Energy and Utilities
• Manufacturing
• Healthcare
• Research and Development
• Others

Precision Meter Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Analog Meter
• Digital Meter
• Smart Meter

Precision Meter Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Precision Meter Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies precision meter companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the precision meter companies profiled in this report include-

• Keysight Technologies
• Fluke
• Rohde & Schwarz
• Yokogawa Electric
• Agilent Technologies
• Tektronix
• Gossen Met

Precision Meter Market Insights

Lucintel forecasts that power module is expected to witness highest growth over the forecast period .

Within this market, manufacturing will remain the largest segment due to increasing demand for precision manufacturing in various industries such as automotive, aerospace, electronics and medical devices

APAC is expected to witness highest growth over the forecast period due to huge investment in infrastructure development, manufacturing, and other industries

Features of the Global Precision Meter Market

Market Size Estimates: Precision meter market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Precision meter market size by various segments, such as by type, application, end use industry, technology, and region in terms of value ($B).

Regional Analysis: Precision meter market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, end use industry, technology, and regions for the precision meter market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the precision meter market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q.1 What is the precision meter market size?

Answer: The global precision meter market is expected to reach an estimated $12.9 billion by 2030.

Q.2 What is the growth forecast for precision meter market?

Answer: The global precision meter market is expected to grow with a CAGR of 6.1% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the precision meter market?

Answer: The major drivers for this market are growing demand for measurement accuracy, rising automation and digitization and modernization of sensor and measurement technologies.

Q4. What are the major segments for precision meter market?

Answer: The future of the precision meter market looks promising with opportunities in the electrical and electronics, automotive, aerospace and defense, energy and utilities, manufacturing, healthcare, research and development, others markets.

Q5. Who are the key precision meter market companies?

Answer: Some of the key precision meter companies are as follows:

• Keysight Technologies
• Fluke
• Rohde & Schwarz
• Yokogawa Electric
• Agilent Technologies
• Tektronix
• Gossen Met

Q6. Which precision meter market segment will be the largest in future?

Answer: Lucintel forecasts that power meter is expected to witness highest growth over the forecast period due to increasing need for monitoring energy consumption and managing energy costs

Q7. In precision meter market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to huge investment in infrastructure development, manufacturing, and other industries

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the precision meter market by type (voltage meter, current meter, power meter, frequency meter, temperature meter, and others), application (law enforcement and intelligence agencies, military and defense, and private sector), end use industry (electrical and electronic, automotive, aerospace and defense, energy and utilities, manufacturing, healthcare, research and development, and others), technology (analog meter, digital meter, and smart meter), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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