Market Highlights: —
Manufacturing of different products require a set of hardware and software tools for test & measurement and proper weighing analysis of the component. The load monitoring system market is thriving by providing the needed services. The global Load Monitoring System Market is anticipating a rise by 4.9% CAGR during the forecast period (2018-2023) which would help it cross USD 3.06 billion valuation mark quite easily. Market Research Future (MRFR) in their latest report finds significant factors to claim that factors for growth are quite in favor for the load monitoring system market.
Factors such as thrust from several industries such as aerospace, healthcare, marine, automotive, oil & gas, construction, food & beverage, and agriculture are expected to provide sufficient tailwind to the load monitoring system market during the forecast period. Increasing demand for display units and IoT integration are other major factors that can improve the load monitoring system market prospect.
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Companies to make an impressive mark in the global load monitoring systems market are Spectris (UK), Precia Molen (France), Fllintec (US), LCM Systems (UK), Straightpoint (UK), Vishay Precision Group (US), Dynamic Load Monitoring (UK), Wirop Industrial (Taiwan), JCM Load Monitoring (UK), and Mettler Toledo (US). MRFR in their latest report on the same market has enlisted these companies for a better profiling and understanding of the market dynamics in detail. Their latest updates mostly include mergers, acquisitions, product launch, and other strategic deployments.
MRFR segments the global load monitoring system market into product, technology, and industry vertical. This segmentation aims at a better grasp over the market dynamics and it relies heavily on factors and figures for an in-depth analysis.
Based on the product, the load monitoring system market includes indicator & controller, load cell, and data logging software. The load cell segment includes single beam load cell, S-type load cell, dual shear load cell, bending beam load cell, and others. The segment has the maximum market share as well.
Based on the technology, the load monitoring system market comprises analog and digital. The digital segment is gaining much prominence due to the inclusion of other managing system that relies on digital input.
Based on the industry vertical, the load monitoring system market consists food & beverages, marine, automotive, aerospace, healthcare, construction, oil & gas, and agriculture. The automotive segment is leading as the burgeoning automotive industry is providing high traction for the system. The healthcare segment is expected to secure the highest CAGR during the forecast period.
The geographical analysis of global load monitoring system market, as conducted by MRFR for their report, includes detailed studies of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW).
Europe’s market is quite remarkable, and it is expected to exercise its dominance on the load monitoring system market Over the review period. The region has high integration of various technologies and they are of superlative quality. The manufacturing segment is finding it easier for a healthy growth as the latest technologies are helping in remarkable revenue generation. It potential has reached a substantial height by pervading sectors like automotive, aerospace, marine, and healthcare industry verticals. The UK is expected to lead the regional market during the forecast period.
The APAC can register itself as the fastest growing region in the upcoming years. With countries like China, Japan, and India contributing much to the regional overhauling of systems, this growth is expected to rise in multifold. Burgeoning automotive, marine, and healthcare industry verticals are expected to provide the thrust to the regional market.
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In May 2019, Eilon Engineering and AED Group announced their partnership which would mark the beginning of availability of Eilon Ron StageMaster products under the distribution of AED. Eilon’s load monitoring system is the only one in the market that offers both wireless and wired load cells with their ability to function on a single receiver. It also ensures working of up to 200 load cells in each monitoring station. The battery comes with an unprecedented 5000 hours. With AED’s distribution, Eilon is sure to make an impact in the market.
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