DUBAI, United Arab Emirates: , Oct. 09, 2022 (GLOBE NEWSWIRE) — The global electronic scales market is projected to reach US$8,084.9 million by 2032, with the market growing at a moderate CAGR of 5.4% from 2022 to 2032. The electronic scale market is expected to reach $4,775.3 million in 2022 and is driven by the device’s easy and convenient measurement of multiple units. The imperative need to maintain precision coupled with growing economic activity and technological advancement in laboratory scales and scales is set to further increase the demand for electronic balances in the global market during the forecast period.
With the integration of the Internet of Things (IoT) in scales, as well as several other product innovations, the market for electronic scales will experience a surge in demand worldwide. In addition, the introduction of waterproof electronic scales with backlit LCD and titanium platforms offers several growth-enhancing opportunities to the target market.
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An electronic scale is one of the most important machines in a retail store due to its appropriate signal conditioners, base load cell and output recorders/displays. These scales are accurate, highly reliable, portable, durable and offer easy calibration capabilities, multiplying the demand for these scales in retail stores. In addition, a large proportion of consumers prefer products equipped with various certificates such as National Institute of Standards & Technology (NIST) certificates while purchasing various goods. This, coupled with increasing commercial activity, is one of the prominent growth drivers of the electronic scales market.
The target product also finds mass application in the healthcare sector. Various industries are rapidly automating the process of testing and measuring materials, which is expected to drive market growth. Again, there has been a significant increase in the introduction of tabletop versions of the machine for veterinary applications. All of these considerations are likely to boost demand for electronic scales over the projected period.
“The introduction of technologically advanced machines coupled with increasing demand from retail outlets will propel the electronic scales market growth over the forecast period,” says an FMI analyst.
The central theses:
- The introduction of innovative features into these products will strengthen the market prospects.
- The need for steady and constant power supply is dampening the market growth.
- North America holds about 35.2% of the sales share of the electronic scales market.
- Europe accounts for 21.8% of the target market’s sales.
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Learn more about the Electronic Scales market report
In its latest report, FMI provides an unbiased analysis of the global Electronic Weighing Scales market with historical data from 2016-2021 and forecast statistics for 2022-2032. The market is further segmented to understand the global market potential, growth and scope on the basis of Application (electronic scale, electronic industrial counting scale, electronic retail pressure scale, electronic scale), class (class I, class II, class IIIL, class III), scale (benchtop, staff, electronic crane, electronic scale). platform, pocket electronics, desktop electronics) and region.
According to the latest FMI reports, North America Electronic Scales Market is projected to witness remarkable market growth over the period 2022-2032 depending on the regions. Accounting for 35.2% of sales, the electronic scales market in this region is driven by the presence of a huge pharmaceutical sector as well as rapid advances in scales technology. The market for electronic scales in Europe is also expected to grow significantly with a sales share of around 21.8%. The introduction of self-scales with integrated barcodes and receipt printers, as well as improvements in the transportation and logistics sector, are driving the market growth in this region during the forecast period.
Contech Instruments Ltd., Azet 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 among some of the major players in the electronic scales market that are featured in the full version of the report.
Leading market players are focused on incorporating new options into their products and bringing new products to market. These companies employ innovative tactics and increase the number of product releases to strengthen their market position.
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Key Segments Profiled in the Electronic Scales Market Survey
- electronic scale
- Electronic industrial counting scale
- Electronic printer scale for retail
- electronic scale
- Class I
- class II
- Class III
- Class IIIL
- Class III
- electronic crane
- electronic platform
- pocket electronics
- table electronic
- North America
- Latin America
- Asia Pacific
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Table of Contents :
1.1. Global Market Outlook
1.2. Demand-side trends
1.3. Supply-side trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Restrictions
3. Market background
3.1. market dynamics
3.2. scenario forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
Table of contents continued..!
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