Measuring and Control Instrument Market by Type (Sensors, Transmitters, Controllers, Analyzers, and Meters), by Technology (Mechanical Instruments, Electrical Instruments, and Electronic Instruments), by Sales Channel (Original Equipment Manufacturer and Aftermarket), by Mode (Online and Offline), and by End User (Automotive, Aerospace & Defense, Healthcare, Industrial Manufacturing, Energy & Utilities, and Others) – Global Opportunity Analysis and Industry Forecast, 2024-2030

Market Definition

The Measuring and Control Instrument Market size was valued at USD 220 billion in 2023 and is predicted to reach USD 320 billion by 2030 with a CAGR of 5.5% from 2024 to 2030.

The measuring and control instrument industry covers an array of devices and systems utilized for measuring, monitoring, and controlling physical and chemical parameters across diverse applications. These instruments include a wide range of products to provide accurate data and enable control over critical parameters.

They play a crucial role in automating processes, optimizing performance, ensuring product quality, and enhancing safety in sectors including manufacturing, healthcare, environmental monitoring, and process industries such as oil & gas and chemical. Measuring and Control Instrument enable real-time monitoring, data collection, and control, contributing to operational efficiency, regulatory compliance, and overall productivity across diverse industrial settings.

Market Dynamics and Trends

The growing demand for automation across various industries, including manufacturing, process industries, and healthcare, fuels the adoption of Measuring and Control Instrument. As it plays a crucial role in automating processes, optimizing efficiency, and ensuring consistency in operations.

According to the survey conducted by McKinsey, most organizations believe that up to a quarter of their tasks can be automated in the next five years, less than 20% have fully implemented automation across various business functions.

Moreover, the rising emphasis on smart cities and connected infrastructure relies heavily on sensors and control systems to optimize traffic management, energy usage, and environmental monitoring. This creates a significant demand for Measuring and Control Instrument. According to the Gitnux, the global smart city market size will reach USD 820.7 billion by 2025 as compared to USD 308 billion in 2018.

In addition, the adoption of Industry 4.0 principles and digital transformation initiatives in manufacturing and other sectors necessitates the integration of advanced Measuring and Control Instrument with digital systems. This integration enables data-driven decision-making, predictive maintenance, and enhanced operational efficiency.

As per Magnet's 2023 Manufacturing Survey, large and medium-sized manufacturers are embracing Industry 4.0 technologies and demonstrating higher innovation rates compared to smaller firms. The adoption of Industry 4.0 technology has surged by 80% since 2019.

However, the high costs involved in the installation of measuring and control instrument coupled with less availability of skilled professionals to operate Measuring and Control Instrument are the factors restraining the growth of the measuring and control instrument market.

On the contrary, the integration of internet of things (IoT) devices and smart application platforms expand, the adoption of smart devices such as Bluetooth and other wireless technologies become more prevalent. As a result, the measurement and control tools become more and more necessary to analyze and control such devices, which is expected to create ample opportunities for the measuring and control instrument in market in the coming years.

Market Segmentations and Scope of the Study

The transcatheter mitral valve replacement market is segmented on the basis of type, technology, component, services, mode, application, and geography. On the basis of type, the market is divided into sensors, transmitters, controllers, analyzers, and meters. On the basis of technology, the market is segmented into mechanical instruments, electrical instruments, and electronic instruments. On the basis of sales channel, the market is classified into original equipment manufacturer and aftermarket. On the basis of mode, the market is segmented into online and offline. On the basis of end user, the market is divided into automotive, aerospace & defense, healthcare, industrial manufacturing, energy & utilities, and others. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and Rest of World (RoW).

Geographical Analysis

North America holds the dominating share of measuring and control instrument market and is expected to continue its dominance during the forecast period. This is attributed to the factors such as growing adoption of these instruments in the healthcare sector for developing new healthcare equipment, patients monitoring system, and personal emergency reporting systems.

As per Centers for Medicare & Medicaid Services (CMS), the U.S. health care spending grew 4.1% in 2022, reaching USD 4.5 trillion or USD 13,493 per person.  As a share of the nation's Gross Domestic Product, health spending accounted for 17.3%.

Moreover, the rising demand for Measuring and Control Instrument in the industrial manufacturing industry is one of the crucial factors driving the growth of the market in this region. According to the National Institute of Standards and Technology (NIST), manufacturing sector contributed USD 2.3 trillion to U.S. GDP amounting to 11.4% of total U.S. GDP.

On the other hand, Asia-Pacific is expected to show a steady rise in the measuring and control instrument market due to the rapidly expanding automotive industry's focus on quality assurance, process optimization, safety compliance, technological innovation, and supply chain integration, as manufacturers aim to meet evolving market demands and regulatory requirements.

According to the India Brand Equity Foundation (IBEF), India is expected to become the largest EV market by 2030, with a total investment opportunity of more than USD 200 billion over the next 8-10 years. In addition, the expanding energy industry boosts the need for Measuring and Control Instrument, focusing on efficiency, safety, the integration of renewable energy sources, modernization of grids, and environmental monitoring.

This emphasis drives innovation and growth within the sector, propelling advancements and opportunities for expansion in the market. According to the Carbon Brief, clean-energy investment surged by 40% year-on-year to reach USD 890 billion in 2023, representing the entirety of investment growth within the Chinese economy for that period.

Competitive Landscape

Various market players operating in the measuring and control instrument market includes Siemens AG, Emerson Electric Co., Honeywell International Inc., Yokogawa Electric Corporation, ABB Ltd, Endress+Hauser Group, Danaher Corporation, Mettler Toledo International Inc., Thermo Fisher Scientific Inc., Agilent Technologies Inc., and others. These market players continue to adopt various market development strategies including product launches and acquisition to maintain their dominance in the measuring and control instrument market.

For instance, in March 2024, Siemens launched SENTRON ECPD, revolutionizing circuit protection with advanced electronic switching technology, enhanced safety features, and substantial space and energy savings.

Also, in March 2023, Honeywell introduced Versatilis Transmitters for comprehensive health monitoring of rotating equipment, enabling predictive maintenance and seamless integration with SCADA systems, featuring wireless deployment and compatibility with existing sensors.

Moreover, in February 2021, Thermo Fisher Scientific acquired Mesa Biotech and develops the Accula system for point-of-care PCR-based testing for infectious disease diagnoses including flu, respiratory syncytial virus (RSV), and Strep A. The platform enables rapid, highly accurate testing at physician offices, pharmacies and other providing results in 30 minutes.

In addition, in January 2021, Honeywell International Inc launched an Optical Caliper Measurement Sensor designed to optimize Lithium Ion Battery (LIB) production. The new sensor provides an effective solution for measuring the true thickness of electrode material during coating as well as at the pressing station during LIB manufacturing.

Key Benefits

• The measuring and control instrument market report provides the quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises of a detailed analysis of the measuring and control instrument market trends including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints, and opportunities and their impact on the measuring and control instrument market is provided in the report.

• The competitive measuring and control instrument market is mentioned.

• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.

• The value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Key Market Segments

By Type

• Sensors

• Transmitters

• Controllers

• Analyzers

• Meters

By Technology

• Mechanical Instruments

• Electrical Instruments

• Electronic Instruments

By Sales Channel

• Original Equipment Manufacturer

• Aftermarket

By Mode 

• Online 

• Offline

By End User

• Automotive

• Aerospace & Defense

• Healthcare

• Industrial Manufacturing

• Energy & Utilities

• Others

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

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