Categories: Market Research

Electronic Weighing Machines Market Research Analysis 2024-2033: Growth, Size, Demand, Analysis, Insights

The Electronic Weighing Machines Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Electronic Weighing Machines Global Market Report 2024, The electronic weighing machines market size has grown strongly in recent years. It will grow from $3.86 billion in 2023 to $4.09 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to industrial automation, quality control standards, market expansion in retail, global trade and logistics, efficiency in production processes.

The electronic weighing machines market size is expected to see strong growth in the next few years. It will grow to $5.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to e-commerce and retail innovation, sustainability and eco-friendly solutions, regulatory compliance, customization for specific industries, data analytics and reporting features. Major trends in the forecast period include integration with industry 4.0, advancements in sensor technology, technological advancements, connectivity and data logging, compact and portable solutions.

Significant growth in the retail industry is expected to propel the growth of the electronic weighing machine market going forward. The retail industry is in the business of selling goods and services to customers. Electronic weighing machines are used to measure the weight of any product in the retail industry. For instance, in December 2023, according to the U.S. Census Bureau, a US-based government agency, retail trade sales increased by 0.1% compared to October 2023 and demonstrated a 3.1% rise from the figures recorded in 2022. Therefore, the significant rise in retail sales is driving the growth of the electronic weighing machine market.

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The electronic weighing machines market covered in this report is segmented –

1) By Type: Laboratory Scale, Gem and Jewelry Scale, Retail Scale, Health Scale, Kitchen Scale, Other Types

2) By Distribution Channel: Online, Offline

Major companies operating in the electronic weighing machine market are forming partnerships to develop new products and strengthen their positions in the market. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in June 2022, Woolworths, an Australia-based supermarkets chain partnered with Tiliter Pty Ltd, an Australia-based AI tech company to launch ‘Artificially Intelligent (AI) Scales’. These scales will enhance the in-store shopping experience for our customers by offering improved accessibility and convenience. Through this partnership, an increasing number of Australian shoppers can now incorporate innovative AI technology into their daily routines, with the same natural and seamless ease as using their smartphones.

The electronic weighing machines market report table of contents includes: