Measuring and Control Instruments Market 2024 | Market Overview, Business Opportunities, Industry Share And Forecast To 2033

The Measuring and Control Instruments 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 Measuring and Control Instruments Global Market Report 2024, The measuring and control instruments market size has grown strongly in recent years. It will grow from $831.23 billion in 2023 to $891.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to energy sector growth, growing automotive manufacturing, telecommunications expansion, environmental monitoring, increased growth in mining and minerals industry.

The measuring and control instruments market size is expected to see strong growth in the next few years. It will grow to $1158.54 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to renewable energy expansion, smart cities development, precision agriculture, space exploration, climate change monitoring. Major trends in the forecast period include smart sensors, automation and robotics, digitalization and connectivity, data analytics and artificial intelligence (ai), remote monitoring and control.

Governments around the world are investing in the creation of smart cities, this is expected to increase the demand for measuring and control instruments for a variety of applications. Smart cities use search, detection, and navigation devices to ensure the safety of the citizens. They also use global positioning systems (GPS), machine-to-machine (M2M) communication, Wi-Fi, and radio frequency identification (RFID) technologies for effective communication. Overall, the smart city experience involves systems and objects interconnected through various technologies, such as local, wide, and wireless networks. The concept of smart cities is also gaining traction in developing nations such as China and India as well as in developed nations such as the EU. For instance, in China and India, almost 300 smart city pilots are currently planned. Further, the EU is actively promoting smart city initiatives, with funds for research and sustainability targets for member states. The establishment of smart cities will increase the demand for various types of navigational, measuring, electromedical, and control instruments, boosting the growth of the measuring and control instruments manufacturing market.

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The measuring and control instruments market covered in this report is segmented –

1) By Type: Other Electrical Equipment, Electronic Products And Components, Navigational, Measuring, Electro medical And Control Instruments

2) By Mode: Online, Offline

3) By Sales Channel: OEM, Aftermarket

4) By Application: Medical, Electronic, Oil & Gas, Consumer Goods, Chemicals, Other Applications

Subsegments Covered: Carbon And Graphite Product, General Electrical Equipment And Component, Vaporizers, E-Cigarettes, And other Electronic Nicotine Delivery Systems (ENDS), Search, Detection, And Navigation Instruments, Automatic Environmental Control, Industrial Process Variable Instruments, Totalizing Fluid Meter And Counting Device, Electricity And Signal Testing Instruments, Analytical Laboratory Instrument, Watch, Clock, Measuring Device, Magnetic And Optical Media

Companies in the measuring and control instruments manufacturing market are investing in the development of new 3D microscopes with the ability to increase productivity and improve diagnosis and research capabilities. 3D microscopes are capable of capturing images from different positions and generating 3D images. These 3D microscopes do not require the specimen to be cut into pieces but preserve the specimen for additional study. For instance, in January 2023, the researchers at the Center for Vision, Automation, and Control at the Austrian Institute of Technology (AIT), an Austria-based research and technology organization (RTO), produced a 3D microscope by the High-Performance Vision Systems. The high-resolution version of inline computational imaging (ICI) technology is microscopy. Inline 3D microscopy can currently employ up to 60 million 3D points/s with scanning rates of up to 12mm per second, which can be achieved with lateral scanning of 700nm/pixel and depth noise of 1m.

The measuring and control instruments market report table of contents includes:

Executive Summary
Measuring and Control Instruments Market Characteristics
Measuring and Control Instruments Product/Service Analysis -Product/Service Examples
Measuring and Control Instruments Market Trends And Strategies
Measuring and Control Instruments Market – Macro Economic Scenario