New York, NY -- (SBWIRE) -- 12/12/2017 -- In a new report titled 'Electronic Weighing Scale Market: Global Industry Analysis (2012 – 2016) & Forecast (2017 – 2025),' Persistence Market Research throws light on the key dynamics anticipated to impact revenue growth of the global electronic weighing scale market during the eight year period 2017 to 2025. The report analyzes the market drivers, restraints, trends, and opportunities and presents detailed revenue forecasts of the global and regional markets for electronic weighing scales. A detailed segmentation of the market has been carried out and in-depth forecasts and analysis presented for each segment across each assessed geography. According to Persistence Market Research, the global electronic weighing scale market is estimated to be valued at US$ 4,306.3 Mn by the end of 2017 and this is expected to increase to US$ 6,338.4 Mn by the end of the forecast period in 2025. This is reflective of a CAGR of 5.0% in terms of revenue during the assessment period. Growth in revenue can be attributed to increasing automation in measuring equipment across various industry verticals.
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Global Electronic Weighing Scale Market: Forecast by Type
The global electronic weighing scale market is segmented on the basis of Type into Table Top Scale, Platform Scale, Precision Scale, Pocket Scale, and Others. Table Top Scale is the largest segment with an estimated revenue share of about 35% during the forecast period. Table Top Scale is also the most attractive segment by type. Platform Scale is the second largest segment by type and is anticipated to increase 1.5X between 2017 and 2025. The Platform Scale segment is expected to register high Y-o-Y growth rates throughout the forecast period.
Global Electronic Weighing Scale Market: Forecast by Application
The global electronic weighing scale market is segmented on the basis of Application into Laboratory Scales, Gem & Jewelry Scales, Retail Scales, Health Scales, Industrial Scales, and Veterinary Scales. Industrial Scales is the largest segment with a market share of just under 33% during the forecast period. Retail Scales is the second largest segment with about 24% market share. In terms of value, the Laboratory Scales segment is anticipated to increase 1.5X between 2017 and 2025.
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Global Electronic Weighing Scale Market: Key Player Analysis
The report profiles some of the leading companies operating in the global electronic weighing scale market such as Tanita, A&D Engineering, Fairbanks Scales, Adam Equipment, Essae group, KERN & SOHN GmbH, Mettler Toredo, Contech Instruments Ltd., Avery Weigh Tronix LLC, Rice Lake Weighing Systems, Cardinal Scale Manufacturing Company, and Doran Scales, Inc. Key market players are focusing on new product launches and continuous product upgradation to increase business revenue. New innovation strategies are being adopted by electronic weighing scale vendors to reach new potential customers in emerging markets.