The high accuracy of digital calipers, compared to vernier and dial calipers, is one of the primary drivers contributing to the growth of the digital caliper market. The use of digital calipers eliminate the chances of human errors by allowing the user to record the displayed value, which in turn provides improved reliability of measurements. Therefore, the advantages of higher accuracy and faster measurement time have led to an increased adoption of digital calipers in several industries. The analysts forecast global digital caliper market to grow at a CAGR of 7.65% during the period 2016-2020.
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Also, the ability of digital calipers to store values as and when measurements are taken is an emerging trend and has gained immense popularity over the past year. The reduction in the size of integrated circuits and flash memory makes it possible for digital calipers to store a certain number of values or measurements.
The ability of digital calipers to store values as and when measurements are taken has resulted in their popularity over the past year. In addition, improvements in energy efficiency and storage capability of these devices are likely to gain pace during the forecast period. End-user Segmentation and Analysis of the Digital Caliper Market – Engineering, Research laboratories, Manufacturing and Academia
The engineering sector, accounting for a share of close to 28%, was the largest contributor to the revenue of the global digital caliper market in 2015, followed by research laboratories and manufacturing segment. The use of digital calipers in the engineering segment is generally in the field of mechanical engineering.
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Geographical Segmentation and Analysis of the Digital Caliper Market
APAC is the largest contributor to the global digital caliper market in 2015 and is expected to grow the fastest compared to other regions during the forecast period. APAC is followed by EMEA as the region has a high number of engineering and research facilities coupled with a large number of educational institutions compared to the Americas.
Competitive Landscape and Key Vendors
Companies such as Hexagon AB and Mitutoyo holds the majority of the market share and dominate the global digital caliper market with their global presence and a wide range of products. However, the high cost of their product offerings has led to the emergence of several domestic players, especially in China. These domestic vendors offer inexpensive products with relatively less reliability, durability, and energy efficiency, thus increasing the competition in the market.
The key vendors analyzed in digital caliper market are: Fowler, Hexagon Metrology, Mitutoyo, Starrett, and S-T Industries
Other prominent vendors in the market include AccuRemote, CAPRI Tools, Central Tools, Draper Tools, ezMachine Tools, Flexbar, Hornady, iGaging, Mahr, and Moore and Wright.
Further, the digital caliper market report states that the current concern in the market is the high cost of the instrument. Also, the inability of the device to function without a power source or battery is expected to hinder market growth during the forecast period.
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