Digital Barometer Market forecast to grow at a CAGR of 3.5% to be valued at US$ 1.46 Billion from 2022 to 2032
Global digital barometer market demand is anticipated to be valued at US$ 1.03 Billion in 2022, forecast to grow at a CAGR of 3.5% to be valued at US$ 1.46 Billion from 2022 to 2032. Digital Barometers are used to measure barometric pressure, that is, atmospheric pressure and display the results in electronic format. Although barometers had been invented centuries back, the advanced digital barometers have witnessed plethora of modifications with additional feature, accuracy and compactness.
Today’s digital barometers are popular for variety of reason ranging from contemporary styling, advance features, greater precision, long life and low on pocket nature. These characteristics make digital barometers a great choice for numerous applications in pharmaceutical industries, research laboratories, academic research institutes and many more.
Apart from laboratories, digital barometers finds application in meteorological departments for weather forecast. Digital barometers can efficiently tell the short term expected changes in the climate. Modern day digital barometers are wall-mounted tablet form digital barometers which come with multi-specialties such as temperature, future forecast, time, etc.
Digital barometers display enables easy interpretation of measurements and allows computer storage of the analysis. The electronic format of digital barometers allow multiple scales for precision and sensitivity. Moreover, the digital barometers tracks the atmospheric pressure for every minute.
Digital Barometer Market: Market Dynamics
Maintenance of specific atmospheric conditions are very important in research laboratories and pharmaceutical manufacturing as well as research and laboratory sites. Increasing demand for biotechnology and drug designing propel the growth of research institutes and pharmaceutical companies.
This is considered as an important driver of digital barometer market. The advancements in technologies fuel the growth of digital barometers in market to develop new innovative product types with additional features and greater sensitivity in compact size with affordability. However, cheaper cost of normal barometers with same functionality make end users to not opt for digital barometers creating a restraint in global expansion of digital barometer market.
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Digital Barometer Market: Overview
Advancement in the technology in digital barometer significantly spur the market of digital barometer. On the basis of modality, the digital barometer market is fragmented into hand-held digital barometers, table-top digital barometers and wall-mounted digital barometers.
The hand-held digital barometers are expected to account for the largest revenue share owing to maximum adoption by research laboratories and meteorological departments. However, wall-mounted digital barometers are expected to grow with highest CAGR over the forecast period due to the incorporation of various advance features.
On the basis of end user, the digital barometer market is segmented into pharmaceutical companies, research laboratories, academic research institutes, winery and breweries, oil & gas industries, CMOs, and meteorological department.
Meteorological department and research laboratories are estimated to account for the largest market share in the terms of revenue owing to increasing number of research laboratories and higher adoption by them in the forecast period.
Digital Barometer Market: Region-wise Outlook
In terms of geography, the digital barometer market has been divided into seven regions including North- America, Eastern Europe, Western Europe, and Asia- Pacific excluding & Japan (APEJ), Japan, Middle-East & Africa, and Latin America.
North America is the most dominating market and holds the largest revenue share, due to higher presence of research and academic laboratories. Increasing expenditure and funding on biotechnology and research and developmental programs are also a contributor for domination of North America in digital barometer market.
Europe accounts for the second large revenue share in the global digital barometer market, owing to increasing adoption of digital barometers by end users and higher expenditure on research and development. Asia Pacific is expected to witness rapid growth in the digital barometer market, due to advances in technology and establishments of science research groups and laboratories.
China is expected to register significant growth, owing to presence of several local manufacturers. Latin America and Middle East & Africa are projected to exhibit slow growth in digital barometer market owing to limited demand from end users over the forecast years.
Key Segments Profiled in the Digital Barometer Industry Survey
Digital Barometer Market by Modality:
- Hand-held Digital Barometer
- Table-top Digital Barometer
- Wall-mounted Digital Barometer
Digital Barometer Market by End Users:
- Digital Barometers for Pharmaceutical Companies
- Digital Barometers for Research Laboratories
- Digital Barometers for Academic Research Institutes
- Digital Barometers for Winery and Breweries
- Digital Barometers for Oil & Gas Industries
- Digital Barometers for CMOs
- Digital Barometers for Meteorological Departments
Digital Barometer Market by Region:
- North America Digital Barometer Market
- Latin America Digital Barometer Market
- Europe Digital Barometer Market
- East Asia Digital Barometer Market
- South Asia and Pacific Digital Barometer Market
- Middle East and Africa Digital Barometer Market
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Table of Content
- Executive Summary
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
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
188.8.131.52. Mid-Level Participants (Traders/ Agents/ Brokers)
184.108.40.206. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
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