Smart Pressure Gauge Market - Introduction
Smart pressure gauge is an equipment that helps to measure the variations in the environmental characteristics or physical quantity of any material. A smart pressure gauge transforms measurement into signals in the form of inputs to control the device. Smart pressure gauges measure the pressure of a wide range of liquids & gases and produce an electric signal due to applied pressure.
The smart or connected pressure gauge primarily utilizes sensor technology to provide reliable readings and better visibility of field changes. Smart pressure gauges are ideally utilized for testing & monitoring purposes; for instance, sensor-based pressure gauges are used to monitor the oil pressure in automobiles. The smart pressure gauge is utilized in various end-use industries such as automotive, oil & gas, consumer electronics, medical, utility, and in the industrial sector.
Smart Pressure Gauge Market- Competitive Landscape
- In May 2018, Emerson introduced its new pressure gauge product portfolio “the Rosemount Smart Pressure Gauge” to provide reliable pressure readings. These gauges provide a safer field environment and delivers up to 150X overpressure protection.
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Emerson Electric Co.
Founded in 1890 and located in Missouri, the U.S., Emerson is an American company that designs, develops, and manufactures products and offers engineering services for consumer, commercial, and industrial markets. The company operates its business through the automation solutions segment and commercial & residential solutions segment. The company’s commercial & residential solutions provide various products & services including valves, controls & system protectors, control & monitoring systems, and construction & plumbing tools.
Hunan MAC Sensor
Founded in 2009 and based in China, Hunan MAC Sensor is specialized in designing and manufacturing automation products & services specifically in China and others countries. The company provides wireless IOT sensor systems, pressure measurement instruments, level measurement instruments, and flow measurement instruments.
Meriam Process Technologies
Founded in 1911 and headquartered in Ohio, the U.S., Meriam Process Technologies is a subsidiary of Scott Fetzer and manufactures a wide range of process measurement instrumentation that includes digital & analog pressure transmitters, MFT calibrators, handheld calibrators/data loggers, pipeline integrity testers, handheld HART communicators, MFC HART communicators, pressure gauge, primary element flow solutions, and hydraulic pressure pumps.
Kobold Messring GmbH
Founded in 1980 and located in Germany, Kobold is one of the key manufacturers in the field of industrial measuring and control devices. The company provides wide-ranging temperature sensors and measuring devices that help to determine exact temperature measurement. Its products and services are available across Europe, Asia Pacific, and other regions worldwide.
Founded in 1836 and based in France, Schneider Electric is one of the leading providers of automation and energy management solutions in commercial, residential, data centers, infrastructure, and other industries worldwide. The company has more than 20,000 system integrators & partners and above 650,000 service providers & partners in over 100 countries worldwide.
Some of the other prominent players in the smart pressure gauge market include Testo India Private Limited, DP-Flow Ltd, Labcell Limited, Honeywell International Inc. and Topeak.
Smart Pressure Gauge Market Dynamics
Rapid adoption of digital pressure gauge driving the smart pressure gauge market
End-use industries are rapidly shifting to digital pressure gauges due to lack of accuracy while measuring changes in the field through analog pressure gauges. Digital pressure gauges can easily enhance the process efficiency and ensure the subsequent accuracy of readings and durability of the gauges. These gauges are appropriate for various applications & industries, including pneumatics/hydraulics, mechanical engineering, test operations, and pumps/compressors. Furthermore, digital pressure gauges help to minimize the workforce that is generally required to interpret the readings and it can automatically record the determined pressure level during the measurement. Therefore, rapid adoption of digital pressure gauges due to its better accuracy and efficiency is significantly enhancing the growth of the smart pressure gauge market worldwide.
High maintenance cost of sensor based pressure gauges restraining the growth of the market
Various technologies such as piezo resistive pressure gauge, resonant solid state pressure gauge, electromagnetic pressure gauge, optical pressure gauge and capacitive pressure gauge are substantially involved with pressure gauges which require significant calibration & maintenance services. This increases maintenance cost of pressure gauges, which is expected to hamper the growth of the smart pressure gauges market worldwide. However, manufacturers are currently focusing on adopting low cost board mount pressure sensors to overcome this issue.
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Smart Pressure Gauge Market Segmentation
Based on technology, the smart pressure gauge market is segmented into
- Resonant Solid State Pressure gauge
- Piezoresistive Pressure gauge
- Electromagnetic Pressure gauge
- Optical Pressure gauge
- Capacitive Pressure gauge
In terms of type, the smart pressure gauge market is segmented into
Based on end-use industry, the smart pressure gauge market is segmented into
- Oil & Gas
- Consumer Electronics
- Industrial Segment
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The report on the smart pressure gauge market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The smart pressure gauge market report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and geographies.
Regional analysis of the smart pressure gauge market includes:
- North America
- South America
- Asia Pacific
- Middle East & Africa (MEA)
- Smart Pressure Gauge Emerson
- Smart Gauge Pressure Transmitters
- Smart Digital Pressure Gauges
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
- 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.