The global electronic weighing machines market size is anticipated to reach USD 4.8 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.1% from 2020 to 2027. Reliability, accuracy, durability, portability, ease of calibration, and extra features are acting as major factors for increasing adoption and penetration of the product. The growing retail sector, laboratory activities, and increasing awareness about obesity among population have increased the frequency of weight measurement at home, which is driving the demand for electronic weighing machines.
In order to gain market share, companies are introducing new products in order to meet the growing demand. In April 2019, Truweigh LLC launched a water resistance digital pocket scale. The product also comes with an IP65 rating, making it dust-proof. The pocket weighing scale comes with a white backlit LCD and black titanium chrome platform. Home-based business owners are the major consumers of portable weighing machines owing to the space-saving option, ease of portability, and high accuracy. Similarly, in 2018, Kern & Sohn GmbH launched a premium analytical balance with single-cell generation for rapid and stable weighing results. The device also comprises a bright OLED display with a large viewing angle and USB interfaces for the transfer of weighing data to external devices.
In terms of type, the retail scale segment held the largest share of 33.1% in 2019. The growing retail sector and rising number of small retail shops are acting as major factors for the segment growth. According to Census Bureau data, 2018 saw a net increase in retail stores in the United States. There were almost 3,100 more stores during the 4th quarter of 2018 compared to the 4th quarter of 2017. Similarly, stores with fewer than five employees witnessed an increase of 4,569 stores as of the 1st quarter of 2018 compared with the 1st quarter of 2017.
The offline distribution channel segment dominated the electronic weighing scale market with a revenue-based share of 94.5% in 2019. Majority of the offline sales are driven by the commercial segment. Shop owners and small retailers prefer purchasing from the salesperson of the company. Moreover, ease in the understanding of after-sales support pertaining to issues related to products with the executive is propelling the customers to purchase from brick and mortar retail stores, including distributors, specialty stores, hypermarkets, and supermarkets.
Asia Pacific dominated the market with a revenue-based share of 35.7% in 2019. The high adoption rate of the product, coupled with the presence of regional companies, is acting as a major factor for the regional market growth. Moreover, the strong presence of small retail stores, growing pharmaceutical industry, and increasing awareness regarding health maintenance are driving demand in the region.
Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/electronic-weighing-machines-market
Electronic Weighing Machines Market Report Highlights
• By type, the retail scale segment held the largest share of 33.1% in 2019
• The online distribution channel segment is expected to witness the fastest growth from 2020 to 2027
• Asia Pacific is expected to witness the fastest growth over the forecast period.
For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/electronic-weighing-machines-market/request/rs1
Electronic Weighing Machines Market Segmentation
Grand View Research has segmented the global electronic weighing machines market by type, distribution channel, and region:
Electronic Weighing Machines Type Outlook (Revenue, USD Million, 2016 – 2027)
• Laboratory Scale
• Gem and Jewelry Scale
• Retail Scale
• Health Scale
• Kitchen scale
• Others
Electronic Weighing Machines Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
• Online
• Offline
Electronic Weighing Machines Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• U.S.
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• India
• Central and South America
• Brazil
• Middle East & Africa
List of Key Players of Electronic Weighing Machines Market
• A&D Company, Ltd.
• Mettler-Toledo International, Inc.
• Doran Scales, Inc.
• Essae-Teraoka Pvt. Ltd.
• Fairbanks Scales Inc.
• Kern & Sohn GmbH
• BONSO Electronics International Inc.
• Shimadzu Corporation
• Sartorius Group
• Avery Weigh-Tronix, LLC
Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/450775/ibb
About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/electronic-weighing-machines-market