Current Measuring Devices Market - Introduction

Current measurement is often used for circuit diagnosis. It shows a lot about circuit faults and how they work. It is also a significant element of an energy measurement along with a voltage measurement. Different types of instruments are used for electrical current measurement. An ammeter is a measuring tool used to measure a circuit's electrical current. An ammeter is used to measure the current provided to or from a component. Parallel to a computer, a voltmeter is linked to evaluate its voltage, while an ammeter is attached to a device for measuring its current in sequence. Current measuring systems are measuring devices that are used to determine electrical current in wiring / electrical load. The multimeter is a widely used tool for measuring current. The current transformer is often used to measure currents. The galvanic isolation between the measuring instrument and the circuit of which the current must be measured is a major advantage of using present transformers.

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Current Measuring Devices Market – Competitive Landscape

  • In June 2019, Schneider Electric introduced a series of Enercept Flex meters “Power Logic EM4200”, which offers installers with improved flexibility and choices for retrofit applications. The EM4200 series Enercept meters are perfect for retail shops and shopping centers, business offices, hotels and other kinds of structures for energy management, tenant sub-billing and demand
  • In March 2019, to facilitate the waveforms observation signifying currents as small as several hundred microamperes or as large as 30 A, HIOKI launched the Current Probes CT6710 and CT6711. This capacity makes the samples suitable for monitoring present waveforms under various working circumstances.

Beemet Instruments Pvt Ltd.

Established in 1992, Beemet Instruments Pvt Ltd. is a provider of analog measuring instruments used in the manufacturing and service industry. The company specializes in manufacturing analog panel meters and shunts. Company’s product portfolio offers an extensive range of ammeters, frequency meters and moving iron voltmeters.

HIOKI E.E. Corporation

Established in 1935, HIOKI E.E. Corporation, headquartered in Nagano Prefecture, Japan, is a company that designs, manufacturers and sales test and measuring instruments.

Schneider Electric SE.

Founded in 1836, Schneider Electric SE. is headquartered in Rueil-Malmaison, France. Schneider Electric SE. is a multinational electronics and electrical equipment manufacturing company. The company provides energy and automation digital solutions for efficiency and sustainability. The company combines various energy technologies, software and services and real-time automation into integrated solutions for buildings, infrastructure, data centers, homes and industries.

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The global market for current measuring devices includes a multiple producers, so the market is fragmented in nature. Strategies such as product development with enhanced measuring capacity, focus on digital meters and multimeters, business expansion across various applications, development of smart meters with advanced features such as measurement storage, enhanced display and connectivity are largely adopted by companies in order to maintain their market position. Some of the significant players in the Purkey's Fleet Electric, Inc., HIOKI E.E. Corporation, MetermasterNZ Ltd., Blue Sea Systems, Schneider Electric SE., Goliya Instruments Pvt. Ltd., Kyoritsu Electrical Instruments Works, Ltd., PCE Instruments., Beemet Instruments Pvt Ltd., HPL Electric & Power Ltd., National Instruments Corporation and Rayleigh Instruments Limited.

Current Measuring Devices Market - Dynamics

The global market for current measuring devices is driven mainly by the increasing manufacturing and processing industry across the world. Furthermore, the demand for automated testing and measuring facilities is anticipated to continue throughout the forecast period owing to continuously increasing electricity generation. In addition, the ever-increasing construction industry (both business and residential) is also driving market growth. However, the increasing proliferation of multimetering machines poses a significant challenge to market growth. The market for current measuring devices is largely dependent on industries such as manufacturing and processing, power generation and construction. Furthermore, the growing demand for MCR current transducers is boosting the global current measuring market growth as it can be used to measure direct and alternating currents of any waveform. The MCR current transducers is also use to obtain distorted alternating currents and transform them into a normal analog signal. Increasing demand for hi-tech current measuring system, rising trend in energy management and smart grid system, and ever-changing technology and evolution of new measuring instrument designs are some of the recent trends in the global market place. North America is projected to represent the biggest market share in 2018 due to the presence of a majority of the industry players in the region. 

Current Measuring Devices Market – Segmentation

The current measuring devices market can be segmented based on:

  • Type
  • Output
  • Current
  • Application
  • Geography

Current Measuring Devices Market Segmentation – By Type

Based on the type, the current measuring devices market can be fragmented into:

  • Probe Type
  • Clamp Type
  • Fork Type

Current Measuring Devices Market Segmentation – By Output

Based on the output, the current measuring devices market can be fragmented into:

  • Analog
  • Digital

Current Measuring Devices Market Segmentation – By Current

Based on the current, the current measuring devices market can be fragmented into:

  • AC
  • DC
  • Hybrid

Current Measuring Devices Market Segmentation – By Application

Based on the application, the current measuring devices market can be fragmented into:

  • Automotive
  • Industrial
  • Energy Management and Smart Grid
  • Residential

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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