DUBAI, United Arab Emirates: , Oct. 09, 2022 (GLOBE NEWSWIRE) — The global electronic scale market is expected to reach a value of US$8,084.9 million by 2032, with the market growing at a moderate CAGR by 5.4% from 2022 to 2032. Predicted to reach around US$4,775.3 million in 2022, the Electronic Scales market is driven by the ease and convenience of measuring multiple units through the device. The imperative need to maintain accuracy coupled with growing economic activities and technological advancements in laboratory scales and balances will further increase the demand for electronic scales in the global market during the forecast period.
With the integration of Internet of Things (IoT) in scales along with several other product innovations, the electronic scale market is expected to witness an increase in its global demand. Additionally, the introduction of waterproof electronic scales with backlit LCD display and titanium platforms provides the target market with multiple opportunities for growth.
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An electronic scale is one of the essential machines in retail stores due to its proper signal conditioners, fundamental load cell and output recorders/indicators. These scales are accurate, highly reliable, portable, durable and offer easy calibration features which multiply the demand for these scales in retail stores. In addition to this, a large portion of consumers prefer products that come with various certificates like National Institute of Standards & Technology (NIST) certificates while buying different products. This coupled with increasing business activities is one of the major growth drivers for the electronic scales market.
The target product also finds mass application in the healthcare sector. Different industry verticals are rapidly automating the process of testing and measuring materials, which is expected to propel the growth of the market. Again, there has been a huge uptick in the adoption of the tabletop version of the machine for veterinary applications. All these considerations are likely to drive the demand for electronic scales over the projected period.
“Introduction of technologically advanced machinery coupled with growing demand from the retail sector will propel the growth of the electronic weighing scale market during the forecast period,” says an IMF analyst.
Key points to remember:
- Introducing innovative features in these products will enhance the market prospects.
- The need for stable and constant electricity is hindering the growth of the market.
- North America holds around 35.2% of the electronic scales market revenue share.
- Europe accounts for 21.8% of target market revenue.
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More information about the Electronic Weighing Scales market report
In its latest report, FMI offers an unbiased analysis of the Global Electronic Scales Market, providing historical data from 2016 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the global market, the market is segmented on the basis of Application (Electronic Scale, Electronic Industrial Counting Scale, Electronic Retail Printing Scale, Electronic Weighing Scale), Class (Class I, Class II, Class IIIL, Class III), Scale (Table , staff, crane electronics, platform electronics, handheld electronics, table electronics) and region.
According to the latest IMF reports, based on the region, the electronic scale market in North America is expected to witness notable market growth over the period 2022-2032. Representing a revenue share of 35.2%, the electronic scale market in this region is driven by the presence of a large pharmaceutical sector as well as rapid advancements in scale technology. The European electronic scales market is also expected to show substantial growth, holding around 21.8% of the revenue share. The introduction of automatic weighing machines integrated with barcode and receipt printers, along with improvements in the transportation and logistics sector, propel the market growth in this region over the forecast period.
Contech Instruments Ltd., Aczet Pvt. Ltd., Essae Group, A&D Weighing Inc., Adam Equipment Inc., ATRAX Group NZ Ltd., Avery Weigh-Tronix Ltd., D. Brash & Sons Ltd., Easiweigh Ltd., Yes Technologies, Truweigh LLC, Kern & Sohn GmbH, Fairbanks Scales Inc., Rice Lake Weighing Systems, BONSO Electronics International Inc., Shimadzu Corporation, Sartorius Group, etc. are some of the key electronic scales market players profiled in the comprehensive version of the report.
The major market players are focusing on integrating new options into their products and launching new products in the market. These companies are adopting innovative tactics and increasing their number of product launches to strengthen their market positions.
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Key segments profiled in the Electronic Scales market study
- Electronic scale
- Electronic industrial counting scale
- Retail Electronic Printer Scale
- Electronic scale
- Class I
- Class II
- Class III
- Class IIIL
- Class III
- table top
- electronic crane
- Electronic platform
- Pocket electronics
- Electronic Board
- North America
- Latin America
- Asia Pacific
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
3.1. Market dynamics
3.2. Scenario forecast
3.3. Opportunity Map Analysis
3.4. Product life cycle analysis
3.5. Supply chain analysis
The table of contents continues..!
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