Frequency Counter Market to Grow at 7 Per cent through 2027: FMI
The increasing need to track vital parameters and related technical requirements is among the major factors pushing adoption of frequency counters
The global frequency counter market is expected to grow at a compound annual growth rate (CAGR) of 7 per cent through 2027, according to a latest report by Future Market Insights (FMI).
The worldwide sale of frequency counter is estimated to cross US$ 2,500 million in 2019, the report says.
Citing the reason for such growth, the report mentions, market benefits are upheld by the growing demand for frequency counters from several end use industries including telecommunication, automotive, aerospace and defence.
In addition, the requirement for precise measurement of several communication parameters such as time interval, pulse, period and calibration of wireless devices, would further lead to high demand for frequency counters in 2019 and afterwards.
Major factors pushing demand
The increasing need to track vital parameters and related technical requirements is among the major factors pushing adoption of frequency counters in wireless and communication technologies sector. In addition, frequency counter helps in impeccable measurement of intervals amidst production cycles, which is also a key factor bolstering the frequency counters market.
With Industry 4.0 making inroads into the global manufacturing paradigm, operators across several industries are set to unlock the value from it. Manufacturers, with an aim of reaping the gains of Industry 4.0, are preparing for futuristic disruptions that is encouraging them to experiment with new business models and deploy effective electronic equipment. This likely to create favourable circumstances for growth of frequency counter market through 2027, the report says.
In addition, different types of frequency counters can record frequencies of various waves and wavelengths like sin, square, etc., leading to their comprehensive application across several industrial units.
According to the report, developing and selling precision-based and high-accuracy frequency counters to customers, which are best suited as per varying industry needs is among the major strategies followed by market players to enhance their market share. The major global market share is held by several key players such as Schneider Electric, Crompton Instruments (TE Connectivity) and Keysight Technologies.
Some of the major manufacturers of frequency counters include OMRON Corporation, National Instruments, Yokogawa Electric, Anritsu, Fluke, ISKRA, HAMEG Instruments GmbH, Berkeley Nucleonics Corp, B&K Precision Corporation, Simpson Electric, Stanford Research Systems and Shijiazhuang Suin Instruments.