The report predicts the global Digital Power Meter Market to grow at a healthy CAGR over the forecast period from 2022-2031.
SDKI published a syndicated report on Digital Power Meter Market, which is evaluated for the forecast period 2022-2031. The report offers an in-depth analysis of the market on the basis of size, volume, latest trends, opportunities and challenges that are associated with the market growth in the coming years. The Digital Power Meter Market is assessed to grow with a compound annual growth rate during the forecast period, and is segmented into SEGMENTS. Each of these segments are further sub-sectioned, and the growth of the market is studied for each segment.
The Digital Power Meter Market is expected to be driven by the increasing utilization of consumer electronics across the globe, and the growing demand for integrated circuits in developing nations. It is estimated that the total number of users of consumer electronics will record a value of approximately 3 billion by 2025. The user penetration of these products is also predicted to grow to about 35% by that same year.
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In addition, escalating implementation of technologies, such as artificial intelligence (AI), internet of things (IoT) and wireless communication, and ongoing inventions in the semiconductors sector are projected to provide significant opportunities for market expansion in the near future. There were about 20 billion IoT connected devices in use in the world in 2018, which are evaluated to rise up to about 35 billion in 2025 and close to 48 billion in 2030 respectively. Furthermore, rise in demand for faster and more efficient memory chips in several industrial applications are also assessed to bolster the growth of the Digital Power Meter Market during the forecast period.
On the basis of geographical analysis, the Digital Power Meter Market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
These regions are further sub-classified into the following:
- North America (U.S. & Canada)
- Latin America (Argentina, Mexico, Brazil, Rest of Latin America)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa)
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The market research report takes into account the different factors that are contributing to the growth of the market, including the latest opportunities, key trends and the challenges associated with the progress of the market.
Some of the companies with a strong footprint in the global Digital Power Meter Market are KEY PLAYERS.
- Schneider Electric
- Advanced Electronics Company
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