Tachometer also commonly referred as tach or revolution counter or RPM gauge are the electronic sensor devices designed to measure the rotation speed of a shaft or disk in a motor or other machine in automobiles and other industrial applications. It can measure rotational speed of a car tire, ceiling fan and any other motor or machine. It usually helps in displaying the revolution per minute (valued information for understanding any rotational system) on a digital displays. It can be a mechanical device with a warm gear and spindle arrangement or an electrical device which converts the angular speed into electrical signal.
The electrical tachometer in turn can be an AC tachometer or a DC tachometer. The tachometer market is expected to expand at a higher growth rate in the forecast period owing to the increasing demand of tachometer in across diverse range of applications in automobiles, manufacturing and others. Increasing demand for indicating a safe range of rotation speed is the foremost driver identified in the tachometer market. Some of the features like compact design, high reliability and fastest time to response is a key force expected to drive the global tachometer market over the forecast period. Rising demand of automotive is expected to spur the demand of tachometer is upcoming period. Safety guidance from government side is also helping in increasing the degree of awareness among the end users.
However, high maintenance cost such as magnets which can weaken over time, or if overheated, and cause incorrect measurements along with lack of safety and security related litigations is a major restrain that is expected to hinder the growth of the market. Additionally, Efforts are being taken by many companies to upgrade their research and development activities to analyze further application that is expected to generate profitable growth opportunities for the market in the forecast period.
The global tachometer market is segmented on the basis of type, product type, application and region.
On the basis of type, the tachometer market has been segmented into analog tachometer and digital tachometer. The analog tachometer are conventional meters comprised of a needle and dial-type of interface. They are not capable to store the readings and the voltage is displayed by an analog voltmeter. However, Digital tachometer is comprised of a LCD or LED readout and a memory for storage. These are designed to perform statistical operations and provide readings in numerical format. On the basis of product type, the tachometer market has been segmented into contact and non-contact tachometer. The contact tachometer uses a magnetic sensor and gets contact with the rotating shaft for measurement. However, the non-contact tachometer uses a laser or optical disk that is attached to the rotating shaft to calculate RPM of rotating object. By end user, the tachometer market has been segmented into automobiles, aircrafts, medical, and other applications such as (machinery and prime movers, estimate traffic speed). High demand of tachometer in automobile applications is expected to contribute towards growth of the tachometer market.
In the region wise study, the global tachometer market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific which comprises China, India, South Korea, Australia and other rising economies captured significant market share followed by North America and Europe in 2017. Asia Pacific showed the fastest growth rate during the forecast period due to the emerging economies. China represents huge potential for the tachometer with the low cost of raw materials and huge production facilities in the country. However, The U.S is expected to exhibit high market growth over the forecast period owing to its early technological advancement and high capital expenditure.
The global tachometer market is highly fragmented with number of companies operating in the segment. Leading players are currently focusing on providing cost competitive products and acquiring small companies to gain market share. Some of the companies operating in this market are SRI Electronics, Design Technology, Shanghai Tachometer, LOR, Lutron, Kusam Meco and others.
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?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across 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.