Market Overview
The global electronic weighing scale market is projected to register a CAGR of 5.54% from 2017 to 2023. The market was worth USD 3.35 billion in 2017, and it should be worth USD 4.57 billion in 2023.
An electronic weighing scale machine measures the weight of any object in existence. It shows the results in electronic numbers. Companies in a variety of industries use these scales. Examples are the retail sector, jewelry, labs, healthcare, and manufacturing companies.
These scales don’t take up much space. They also give accurate measurements (which is crucial in the healthcare industry), and they can also process numbers online quickly. That’s why many companies want to use them.
These scales give accurate results. That’s why labs and healthcare companies, especially, want to use them. Precision matters in these industries since professionals either create or dispense powerful medicines which can be dangerous or even deadly if created or dispensed in the wrong amounts.
The scales can measure in various units in both the English and metric systems.
COVID-19 dealt a massive blow to the global electronic weighing scale market because many of its customers were forced to shut down. Growth is slowly picking up in the post-pandemic period.
Smart manufacturing is starting to take off, and this is a key growth driver in the global electronic weighing scale industry. Many retail and jewelry stores are also using electronic weighing scales. It’s another primary growth driver. Weighing scales standardize the measuring process, and that’s why their demand has been increasing in the post-pandemic period.
These machines are expensive and need to be hooked up to a reliable electrical supply to function properly. These are two major restraints in the market.
Companies are seeing that the market is lucrative, and that’s why they’re experimenting when doing research and development. For example, many manufacturers of electronic weighing scales are developing devices that can convert digital measurements into various forms.
They are also working hard to develop mobile scales.
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Segment overview
The tabletop segment is expected to register the highest CAGR over the forecast period.
The market is separated into platform scale, precision scale, pocket scale, and others based on the scale segment.
The market is separated into the industrial, veterinarian, lab, jewelry, food and beverages, health and fitness, industrial, educational, and others based on the end-user segment.
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Regional analysis
The global electronic weighing scale market is separated into North America, South America, Asia-Pacific, the European Union, and the Middle East and Africa based on geographic regions.
Many industries need electronic weighing scales, so the North American region is expected to register the highest CAGR for the forecasted period. The European Union is home to most electronic weighing scale manufacturers, so it is expected to register a decent CAGR. The Asia-Pacific region can mass produce these scales at lower prices, so it’s also expected to register a promising CAGR.
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