The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Digital Load Monitoring Systems market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Digital Load Monitoring Systems
The report offers actionable and valuable market insights of Digital Load Monitoring Systems. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Digital Load Monitoring Systems Market across various industries and regions.
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Notable developments in the load monitoring systems market:
- Spectris, a leading productivity-enhancing instrumentation and controls company in the load monitoring systems market, announced in April 2018 the merger between Brüel & Kjær Sound & Vibration – a Danish electronics company – and its subsidiary HBM. The new company named HBK will be dedicated to providing combining sensors, integrated offering, data acquisition, preparation, evaluation and engineering services into one solution in the domains of propulsion, safety and noise, durability, vibration and harshness.
- DLM Ltd., a U.K.-based company in the load monitoring systems market, announced the launch of a new innovative range of wireless electronics in January 2019. With the release of TW-3.0, which is a multi-functional load monitoring system designed to integrate load cells, proximity sensors, encoders, etc., DLM is introducing innovation in their product range by developing their own electronics.
- HBM, a subsidiary of Spectris and manufacturer of products for test and measurement, announced in July 2018, the launch of its new product in the load monitoring system market. With the launch of its new C6B force transducer, which is a load cell, the company has introduced a flexible and cost-effective load monitoring solution for rugged and dynamic applications. The company also declared that the C6B force transducer is capable of measuring a load of large constricting forces ranging from 200 kN to 10 MN.
- Vishay Precision Group, Inc., a U.S.-based manufacturer of resistive foil technology, sensors, and sensor-based load monitoring systems, announced in January 2019 that it has partnered with Bridge Diagnostics, Inc. (BDI), a structural instrumentation company, for the sale of its products under its brand Micro-Measurements® on GSA Advantage – the U.S. General Services Administration portal. By offering Micro-Measurements products on the GSA Advantage portal, the company aims to leverage the online shopping and ordering portal for connecting with thousands of contractors and vendors and gaining access to millions of cost-effective goods.
Spectris, Flintec, Precia Molen, Mettler Toledo, Vishay Precision Group, Wirop Industrial Co., Ltd., Strainsert, Futek Advanced Sensor Technology, Tecsis, Eilersen Electric Digital Systems A/S, and Euroload Ltd. are among the prominent stakeholders in the load monitoring systems market.
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Stringent Calibration Standards and Certification Requirements Create Manufacturing Challenges
Even though the adoption of load monitoring systems is on the rise across various end-user industries, manufacturers are struggling to comply with high international standards while maintaining lower production costs. International organizations, including ASTM International, have set high verification standards for testing instruments such as load monitoring systems.
Furthermore, stakeholders in the load monitoring systems market have to obtain approvals and certifications from regulatory bodies before launching their products. For example, all the load cell manufacturers need to ensure accuracy of their products by providing necessary certifications to internationally recognized standards, which include UKAS, ASTM E74, and BS EN ISO 376.
Raising international standards and lengthy approval procedures are precluding load monitoring system manufacturers from reducing the production cost to maintain competitive prices, making it difficult to scale up in the highly fragmented market.
Thereby, conforming to high calibration standards and strict certification requirements are create severe, albeit short term, manufacturing issues for load monitoring systems market players.
The Fact.MR study offers futuristic overview of development of the load monitoring systems market during the period 2019-2027. Based on thorough research, the study opines that the load monitoring systems market will grow at a healthy 3.9% value CAGR through 2027.
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More Valuable Insights on Digital Load Monitoring Systems Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Digital Load Monitoring Systems, Sales and Demand of Digital Load Monitoring Systems, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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