The Global Digital Barometer Industry is on track for a period of stable expansion, according to industry analysis. The market is projected to reach a value of US$1.03 billion by 2022 and is expected to witness a Compound Annual Growth Rate (CAGR) of 3.5% over the next decade. This steady growth trajectory is anticipated to propel the market to a value of US$1.46 billion by 2032.
Digital barometers, which are crucial equipment for detecting atmospheric pressure, have evolved significantly throughout the years. In the modern day, these devices have incorporated enhanced features, increased precision, and smaller designs, indicating a technical leap ahead.
The allure of digital barometers is steadily increasing, fueled by their modern styling, advanced features, precision, durability, and cost-effectiveness. These qualities position digital barometers as the preferred choice across diverse industries, including pharmaceuticals, research laboratories, academic institutions, and more.
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Apart from laboratories, digital barometers find application in meteorological departments for weather forecasts. Digital barometers can efficiently tell the short-term expected changes in the climate. Modern-day digital barometers are wall-mounted tablet form digital barometers which come with multi-specialties such as temperature, future forecast, time, etc.
Digital barometer display enables easy interpretation of measurements and allows computer storage of the analysis. The electronic format of digital barometers allows multiple scales for precision and sensitivity. Moreover, the digital barometers track the atmospheric pressure for every minute.
Global Digital Barometer Industry: Dynamics
Maintenance of specific atmospheric conditions is very important in research laboratories and pharmaceutical manufacturing as well as research and laboratory sites. Increasing demand for biotechnology and drug designing propel the growth of research institutes and pharmaceutical companies.
This is considered an important driver of the market. The advancements in technologies fuel the growth of digital barometers in the market to develop new innovative product types with additional features and greater sensitivity in compact size with affordability. However, the cheaper cost of normal barometers with the same functionality makes end users not opt for digital barometers creating a restraint in the global expansion of digital barometer markets.
Global Digital Barometer Industry: Overview
Advancements in the technology of digital barometers significantly spur the market of digital barometers. Based on modality, the digital barometer market is fragmented into hand-held digital barometers, table-top digital barometers, and wall-mounted digital barometers.
The hand-held digital barometers are expected to account for the largest revenue share owing to maximum adoption by research laboratories and meteorological departments. However, wall-mounted digital barometers are expected to grow with the highest CAGR over the forecast period due to the incorporation of various advanced features.
Based on end users, the digital barometer Industry is segmented into pharmaceutical companies, research laboratories, academic research institutes, wineries and breweries, oil & gas industries, CMOs, and meteorological departments.
Meteorological departments and research laboratories are estimated to account for the largest market share in terms of revenue owing to the increasing number of research laboratories and higher adoption by them in the forecast period.
Digital Barometer Industry: Region-wise Outlook
In terms of geography, the digital barometer Industry has been divided into seven regions including North- America, Eastern Europe, Western Europe, and Asia-Pacific excluding & Japan (APEJ), Japan, Middle-East & Africa, and Latin America.
North America is the most dominating market and holds the largest revenue share, due to the higher presence of research and academic laboratories. Increasing expenditure and funding on biotechnology and research and developmental programs are also a contributor to the domination of North America in the digital barometer Industry
Europe accounts for the second largest revenue share in the global digital barometer Industry, owing to the increasing adoption of digital barometers by end users and higher expenditure on research and development. Asia Pacific is expected to witness rapid growth in the Global Digital Barometer Industry, due to advances in technology and establishments of science research groups and laboratories.
China is expected to register significant growth, owing to the presence of several local manufacturers. Latin America and Middle East & Africa are projected to exhibit slow growth in the digital barometer Industry owing to limited demand from end users over the forecast years.
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Key Segments Profiled in the Global Digital Barometer Industry Survey
Global Digital Barometer Industry by Modality:
- Hand-held Digital Barometer
- Table-top Digital Barometer
- Wall-mounted Digital Barometer
Global Digital Barometer Industry by End Users:
- Digital Barometers for Pharmaceutical Companies
- Digital Barometers for Research Laboratories
- Digital Barometers for Academic Research Institutes
- Digital Barometers for Winery and Breweries
- Digital Barometers for Oil & Gas Industries
- Digital Barometers for CMOs
- Digital Barometers for Meteorological Departments
Global Digital Barometer Industry by Region:
- North America Digital Barometer Market
- Latin America Digital Barometer Market
- Europe Digital Barometer Market
- East Asia Digital Barometer Market
- South Asia and Pacific Digital Barometer Market
- Middle East and Africa Digital Barometer Market
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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