Technavio covers the market outlook and growth prospects of the digital caliper market for 2016-2020. Based on end-user platforms, the market is divided into the following segments: engineering, research laboratories, manufacturing, academia, and others.
The research report also segments the global digital caliper market by geography :
APAC: Largest digital caliper market
Among the three regions, APAC is the largest market for digital caliper, accounting for more than 37% of the overall market in 2015. The largest end-users of digital caliper in this region are the manufacturing and engineering sectors, thus contributing to the growth of the digital caliper market in APAC. With increasing investments in manufacturing and research, the demand for digital calipers is expected to rise, allowing the market to maintain a steady YoY growth rate, reaching over 11% by 2020.
Compared to other regions, the growing Asian economy is one of the major reasons for companies to expand or move to APAC. With favorable investment policies, the availability of low-cost labor, and a high potential market, the Asian economy will be the top destination for foreign companies between 2016 and 2020.
“With countries such as South Korea and Singapore being part of the top 10 countries in manufacturing and engineering, there will be further rise in demand for digital calipers in the market in APAC over the next five years,” says Technavio’s lead research analyst Abhay Sinha.
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The major vendors of the global digital caliper market are:
- Fowler High Precision
- Hexagon Metrology
- S-T Industries
Fowler High Precision, S-T Industries, and Starrett are US-based companies, while Hexagon Metrology is a UK-based company, and Mitutoyo is a Japan-based company.
The other prominent vendors of the distributed acoustic sensing market are AccuRemote, CAPRI Tools, Central Tools, Draper Tools, ezMachine Tools, Flexbar, Hornady, iGaging, Mahr, and Moore and Wright.
EMEA: Second largest market for digital caliper
The research study reports that the EMEA is the second-largest contributor to the global digital caliper market, accounting for almost 33% of the overall market share in 2015. A high number of engineering and research facilities coupled with a large number of educational institutions compared to the Americas is promoting the growth of the digital caliper market in this region. However, the digital caliper market in EMEA is expected to experience a much slower growth rate compared to the markets in APAC and the Americas during the forecast period.
Western Europe is a saturated market, therefore the growth in this region is likely to witness a decline over the next four years. Technavio’s study contributes the growth in the EMEA to the rising number of educational institutions in the Middle East.
Technavio’s lead research analyst Abhay Sinha says, “Growing investments in research and manufacturing by the East European and the Middle Eastern countries are likely to drive the growth of the digital caliper market in EMEA, allowing the market to reach a year-over-year growth rate of almost 7% by the end of 2020.”
Key factor influencing the overall digital caliper market: Improved energy efficiency
Technavio’s report highlights that manufacturers worldwide are focusing on improving the energy efficiency of devices by developing robust and long-lasting energy sources. With advances in technology, digital calipers can use power from an energy source efficiently, and their energy consumption will be minimum.
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