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According to a new report released by Grand View Research, reliability, accuracy, durability, portability, ease of calibration, and additional features are major factors in increasing adoption and penetration of the electric scale.
The Global electronic weighers market the size should reach $ 4.8 billion by 2027, according to a new report from Grand View Research, Inc., expanding to a 3.1% CAGR from 2020 to 2027. Reliability, accuracy, durability, portability, ease of calibration, and additional features are major factors in increasing product adoption and penetration. The growth of the retail industry, laboratory activities and the growing awareness of obesity among the population have increased the frequency of home weight measurements, which is driving the demand for electronic scales.
In order to gain market share, companies are introducing new products to meet growing demand. In April 2019, Truweigh LLC launched a water resistant digital pocket scale. The product also has an IP65 degree of protection, which makes it dustproof. The pocket scale comes with a white backlit LCD display and a black titanium chrome platform. Home business owners are the primary consumers of portable weighing machines due to the space-saving option, ease of portability, and high accuracy. Likewise, in 2018, Kern & Sohn GmbH launched a high-end analytical balance with single cell generation for fast and stable weighing results. The device also includes a bright OLED display with a wide viewing angle and USB interfaces for transferring weighing data to external devices.
In terms of type, the retail segment held the largest share of 33.1% in 2019. The growth of the retail sector and the growing number of small retail stores are major factors in the growth of the segment. . According to Census Bureau data, 2018 saw a net increase in retail stores in the United States. There were nearly 3,100 more stores in Q4 2018 compared to Q4 2017. Similarly, stores with fewer than five employees experienced an increase of 4,569 stores in Q1 2018 compared to Q1 2017.
The offline distribution channel segment dominated the electronic scales market with 94.5% revenue share in 2019. The majority of offline sales are driven by the commercial segment. Store owners and small retailers prefer to buy from the seller of the business. Additionally, after-sales support’s ease of understanding regarding product issues with the framework drives customers to purchase from physical retail stores, including distributors, specialty stores, hypermarkets, and supermarkets.
Asia-Pacific dominated the market with a revenue share of 35.7% in 2019. The high adoption rate of the product, coupled with the presence of regional companies, acts as a major factor in the growth of the market. regional. In addition, the strong presence of small retail stores, the growth of the pharmaceutical industry, and the growing awareness of health maintenance are driving demand in the region.
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Highlights of the Electronic Scales Market Report
â¢ By type, the retail scales segment held the largest share of 33.1% in 2019
â¢ The segment of online distribution channels is expected to experience the fastest growth from 2020 to 2027
â¢ Asia-Pacific is expected to experience the fastest growth during the forecast period.
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Segmentation of the electronic scales market
Grand View Research has segmented the global electronic scales market by type, distribution channel, and region:
Electronic Weighing Machines Type Outlook (Revenue, USD Million, 2016 – 2027)
â¢ Laboratory scale
â¢ Scale of precious stones and jewelry
â¢ Retail scale
â¢ Health scale
â¢ Kitchen scale
Electronic Weighing Machines Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
â¢ In line
Regional Outlook of Electronic Weighing Machines (Revenue, USD Million, 2014 – 2025)
â¢ North America
â¢ Asia Pacific
â¢ Central and South America
â¢ Middle East and Africa
List of key players in the electronic weighing machines market
â¢ Company A&D, Ltd.
â¢ Mettler-Toledo International, Inc.
â¢ Doran Ladders, Inc.
â¢ Essae-Teraoka Pvt. Ltd.
â¢ Fairbanks Balances Inc.
â¢ Kern & Sohn GmbH
â¢ BONSO Ãlectronique International Inc.
â¢ Shimadzu Company
â¢ Sartorius Group
â¢ Avery Weigh-Tronix, LLC
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California and headquartered in San Francisco. The company offers syndicated research reports, custom research reports, and advisory services. With Grand View Research, you have the ability to understand market trends, business information and statistics from a strategic perspective. With an in-depth understanding of many business environments, Grand View Research provides business intelligence and market research and conducts over 300 multi-country market studies.
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