Digital Barometer Market

Digital Barometer Market Snapshot (2022 to 2032)

Global digital barometer demand is anticipated to be valued at USD 1.03 Billion in 2022, forecast to grow at a CAGR of 3.5% to be valued at USD 1.46 Billion from 2022 to 2032.

Although barometers had been invented centuries back, advanced digital barometers have witnessed a plethora of modifications with additional features, accuracy, and compactness.

Report Attribute	Details
Estimated Base Year Value (2021)	USD 1 Billion
Expected Market Value (2022)	USD 1.03 Billion
Anticipated Forecast Value (2032)	USD 1.46 Billion
Projected Growth Rate (2022 to 2032)	3.5% CAGR

Advancements in the technology of digital barometers significantly spur the market of digital barometers. On the basis of modality, 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.

On the basis of end-user, 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.

Which are Some Prominent Drivers Spearheading Digital Barometer Market Growth?

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 digital barometer 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 a compact size with affordability. Today’s digital barometers are popular for a variety of reasons ranging from contemporary styling, advanced features, greater precision, long life, and low-on-pocket nature. These characteristics make digital barometers a great choice for numerous applications in pharmaceutical industries, research laboratories, academic research institutes, and many more.

Apart from laboratories, digital barometers find applications 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 tablets from digital barometers that 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, digital barometers track the atmospheric pressure for every minute.

What are the Challenges Faced by the Digital Barometer Industry?

The challenges associated with the growth of the global digital barometer market are variations in regulatory standards for different regions or countries. In addition, 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 the digital barometer market. However, digital barometer manufacturers are continuously focused on manufacturing digital barometers based on regional standards and are expected to overcome this challenge by the end of the forecast period.

How is North America Contributing to Growth of the Digital Barometer Market?

According to Future Market Insights, 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 market.

Why is Europe Emerging as an Opportunistic Digital Barometer Market?

As per the FMI analysis, Europe accounts for the second large revenue share in the global digital barometer market, owing to the increasing adoption of digital barometers by end users and higher expenditure on research and development. Moreover, rapid growth is expected in the digital barometer market, due to advances in technology and the establishment of science research groups and laboratories.

Market Competition

Some of the key participants present in the global digital barometer market include Thermo Fisher Scientific, Traceable Products, Meteorologische Instrumente KG, Fotronic Corporation, Shenzhen Handsome Technology Co., Ltd., NovaLynx Corporation, WIKA Alexander Wiegand SE & Co. KG, Ahlborn Mess- und Regelungstechnik GmbH, Aquatech Scientific Instruments LLC and Omegadyne, Inc., and others. Attributed to the presence of such a high number of participants, the market is highly competitive.

Report Scope

Report Attribute	Details
Market Value in 2022	USD 1.03 Billion
Market Value in 2032	USD 1.46 Billion
Growth Rate	CAGR of 3.5% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2017 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Modality, End-Use, Region
Regions Covered	North America; Latin America; Europe; East Asia; South Asia and the Pacific; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASIAN, Australia and New Zealand, GCC Countries, Turkey, South Africa
Key Companies Profiled	Thermo Fisher Scientific; Traceable Products; Shenzhen Handsome Technology Co. Ltd.; NovaLynx Corporation; WIKA Alexander Wiegand SE & Co. KG; Ahlborn Mess- und Regelungstechnik GmbH; Aquatech Scientific Instruments LLC; Omegadyne Inc.
Customization	Available Upon Request

Key Segments Profiled in the Digital Barometer Industry Survey

By Modality:

• Hand-held
• Table-top
• Wall-mounted

By End Users:

• Pharmaceutical Companies
• Research Laboratories
• Academic Research Institutes
• Winery and Breweries
• Oil & Gas Industries
• CMOS
• Meteorological Departments

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia and the Pacific
• Middle East and Africa

Frequently Asked Questions

What is the anticipated growth of the digital barometer market until 2032?

FMI projects the global digital barometer market to expand at a 3.5% value CAGR by 2032

Which region is forecast to be the most lucrative for digital barometer market growth?

North America is expected to be the most opportunistic digital barometer market.

Which are some prominent digital barometer manufacturers?

Thermo Fisher Scientific, Traceable Products, and Meteorologische Instrumente KG are some prominent digital barometer manufacturers.