This market research report includes the present scenario and growth prospects of the global digital caliper market for 2016-2020. The report presents a detailed study of the end-user segmentation (engineering, research laboratories, manufacturing, and academia) and geographical segmentation (the Americas, EMEA, and APAC). Fowler, Hexagon Metrology, Mitutoyo, Starrett, and S-T Industries are the top vendors analyzed in the report.
Technavio’s market research analysts estimate the global digital caliper market to grow at a CAGR of around 8% between 2016 and 2020. The high accuracy of digital calipers, compared to vernier and dial calipers, is one of the primary drivers contributing to the growth of the market. APAC is the largest contributor to the global digital caliper market, and is expected to be the fastest-growing region in the digital caliper market during the forecast period.
The new market research report from Technavio provides a breakdown and analysis of the digital calipers segments by technology.
“The use of digital calipers eliminate the chances of human errors by allowing the user to record the displayed value, which in turn provides improved reliability of measurements. The ability of digital calipers to store values as and when measurements is gaining traction in the market. The reduction in the size of integrated circuits and flash memory makes it possible for digital calipers to store a certain number of values or measurements,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
The engineering sector, accounting for a share of close to 28%, was the largest contributor to the revenue of the global digital caliper market in 2015, followed by research laboratories and manufacturing segment. The use of digital calipers in the engineering segment is generally in the field of mechanical engineering.
The leading vendors in the global digital caliper market include Fowler, Hexagon Metrology, Mitutoyo, Starrett, and S-T Industries. Companies such as Hexagon AB and Mitutoyo holds the majority of the market share and dominate the global digital caliper market with their global presence and a wide range of products. However, the high cost of their product offerings has led to the emergence of several domestic players, especially in China. These domestic vendors offer inexpensive products with relatively less reliability, durability, and energy efficiency, thus increasing the competition in the market.
A more detailed analysis is available in the Technavio report, Global Digital Caliper Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
