Digital Panel Meter Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By Display Technology, By Display Type, By End User, By Applications, By Region & Competition, 2021-2031F

Description

The Global Digital Panel Meter Market is projected to expand from USD 7.16 Billion in 2025 to USD 10.52 Billion by 2031, reflecting a CAGR of 6.62%. These electronic instruments are essential for converting input signals, such as voltage, current, or temperature, into accurate numerical readouts used in industrial monitoring and process control. A primary driver for this market is the rapid advancement of industrial automation, which demands high-precision interfaces to supersede traditional analog gauges in manufacturing settings. Additionally, the growing focus on energy management within power distribution networks supports the adoption of these devices, as operators depend on precise data to maximize efficiency and ensure compliance with safety standards.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 7.16 Billion
Market Size 2031	USD 10.52 Billion
CAGR 2026-2031	6.62%
Fastest Growing Segment	Totalizers
Largest Market	North America

However, market expansion faces a significant hurdle due to global supply chain volatility, particularly regarding the availability and cost of semiconductors required for digital display components. This instability often results in production delays and higher unit costs, potentially discouraging adoption in projects with strict budget constraints. Despite these challenges, the industrial sector remains robust. As reported by the VDMA in 2024, incoming orders for large-scale plant engineering totaled 25 billion euros, a nominal increase of 1.4% from the previous year, highlighting continued investment in the process industries where these meters play a critical role.

Market Driver

The swift progression of industrial automation and Industry 4.0 serves as a major catalyst for the widespread integration of digital panel meters. As manufacturing environments evolve into connected smart factories, operators rely on these instruments to provide precise, real-time data visibility that legacy analog gauges cannot support. This shift is essential for interfacing with programmable logic controllers and SCADA systems to guarantee seamless communication across production lines. According to the International Federation of Robotics' "World Robotics 2024" report from September 2024, annual global installations of industrial robots reached 541,302 units in 2023, emphasizing the rapid deployment of automated machinery that requires sophisticated control instrumentation. This rise in robotic density necessitates high-resolution digital displays to monitor complex process variables and ensure operational continuity in automated cells.

Concurrently, the increasing demand for advanced energy management and efficiency solutions is transforming the market landscape. Industrial facilities are adopting digital panel meters to monitor power consumption, voltage stability, and current loads with greater accuracy to meet rigorous sustainability goals and lower operating costs. These devices are integral to modern power distribution systems, enabling operators to identify inefficiencies and ensure regulatory compliance. In October 2024, Schneider Electric reported in its "Third Quarter 2024 Revenues" that its Energy Management division achieved organic growth of 11.6%, driven by strong demand in data center and infrastructure sectors. Furthermore, the financial stability of key industrial players supports this technological upgrade; Siemens AG's "Q4 and Fiscal Year 2024 Earnings Release" in November 2024 noted comparable revenue growth of 3% to reach 75.9 billion euros, underscoring the sustained capital available for infrastructure modernization projects.

Market Challenge

Volatility within the global supply chain, specifically concerning the cost and availability of semiconductors, constitutes a significant challenge hampering the growth of the Global Digital Panel Meter Market. These instruments depend heavily on advanced integrated circuits for their digital displays and precise signal processing. When semiconductor supply becomes erratic, manufacturers face extended production lead times and sharp increases in component costs. This financial unpredictability often necessitates higher unit pricing, which discourages adoption in cost-sensitive industrial projects where budget constraints are tight. Consequently, the transition from analog to digital metering solutions is slowed, directly restricting market expansion.

This intense pressure on input costs is reflected in recent industry statistics. According to the IPC (Association Connecting Electronics Industries), in January 2025, 51% of electronics manufacturers reported experiencing rising material costs. This sustained elevation in component pricing creates a difficult operating environment for panel meter manufacturers, who must navigate these inflated costs while striving to maintain competitive pricing for their industrial automation clients.

Market Trends

A transformative trend involves the integration of digital panel meters into smart factory ecosystems and cloud-based analytics, elevating them beyond their traditional role as standalone displays. Modern meters are increasingly engineered as intelligent edge nodes, featuring advanced protocols such as MQTT and OPC UA to transmit voltage and current data directly to central repositories for predictive maintenance and operational optimization. This connectivity allows facility operators to aggregate granular power data across multiple production lines, facilitating real-time decision-making and remote asset management. The momentum of this digital evolution is highlighted by the rapid uptake of connected technologies; according to Rockwell Automation's "9th Annual State of Smart Manufacturing Report" from April 2024, 95% of manufacturers are now using or evaluating smart technologies, up from 84% the previous year, driving the necessity for instrumentation that supports seamless network integration.

Simultaneously, the market is experiencing a surge in specialized metering solutions tailored for renewable energy monitoring applications. As the energy matrix shifts away from fossil fuels, there is a critical need for meters capable of handling the variable DC inputs and bidirectional power flows inherent to solar photovoltaic systems and wind turbines. These advanced meters are essential for monitoring inverter efficiency, battery storage levels, and grid synchronization, ensuring the stability of decentralized power generation. This demand aligns with the aggressive expansion of clean energy infrastructure globally. According to the International Energy Agency's "Renewables 2024" report from October 2024, the world is set to add more than 5,500 gigawatts of new renewable energy capacity between 2024 and 2030, creating a sustained requirement for high-precision monitoring instrumentation in both utility-scale and distributed energy projects.

Key Market Players

Honeywell International Inc.
Siemens AG
ABB Ltd.
Schneider Electric SE
Yokogawa Electric Corporation
Emerson Electric Co.
Red Lion Controls, Inc.
OMEGA Engineering, Inc.
Advantech Co., Ltd.
Tektronix, Inc.

Report Scope

In this report, the Global Digital Panel Meter Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Digital Panel Meter Market, By Type

Totalizers
Multi-Input Indicators and Scanners
Temperature and Process Panel Meters
Others

Digital Panel Meter Market, By Display Technology

LED
LCD
Sunlight Readable
Dual Line
Single Line
Bar Graph
Others (Large Display, etc.)

Digital Panel Meter Market, By Display Type

Numeric
Alphanumeric
Combination

Digital Panel Meter Market, By End User

IT and telecom
Manufacturing
Government
Healthcare
Retail
Transportation
Others

Digital Panel Meter Market, By Applications

Display Current
Display Voltage
Displays Temperature
Others

Digital Panel Meter Market, By Region

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Digital Panel Meter Market.

Available Customizations:

Global Digital Panel Meter Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Digital Panel Meter Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Type (Totalizers, Multi-Input Indicators and Scanners, Temperature and Process Panel Meters, Others)
- 5.2.2. By Display Technology (LED, LCD, Sunlight Readable, Dual Line, Single Line, Bar Graph, Others (Large Display, Etc.))
- 5.2.3. By Display Type (Numeric, Alphanumeric, Combination)
- 5.2.4. By End User (IT and telecom, Manufacturing, Government, Healthcare, Retail, Transportation, Others)
- 5.2.5. By Applications (Display Current, Display Voltage, Displays Temperature, Others)
- 5.2.6. By Region
- 5.2.7. By Company (2025)
5.3. Market Map

6. North America Digital Panel Meter Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Display Technology
- 6.2.3. By Display Type
- 6.2.4. By End User
- 6.2.5. By Applications
- 6.2.6. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Digital Panel Meter Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Type
    - 6.3.1.2.2. By Display Technology
    - 6.3.1.2.3. By Display Type
    - 6.3.1.2.4. By End User
    - 6.3.1.2.5. By Applications
- 6.3.2. Canada Digital Panel Meter Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Type
    - 6.3.2.2.2. By Display Technology
    - 6.3.2.2.3. By Display Type
    - 6.3.2.2.4. By End User
    - 6.3.2.2.5. By Applications
- 6.3.3. Mexico Digital Panel Meter Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Type
    - 6.3.3.2.2. By Display Technology
    - 6.3.3.2.3. By Display Type
    - 6.3.3.2.4. By End User
    - 6.3.3.2.5. By Applications

7. Europe Digital Panel Meter Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Display Technology
- 7.2.3. By Display Type
- 7.2.4. By End User
- 7.2.5. By Applications
- 7.2.6. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Digital Panel Meter Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Type
    - 7.3.1.2.2. By Display Technology
    - 7.3.1.2.3. By Display Type
    - 7.3.1.2.4. By End User
    - 7.3.1.2.5. By Applications
- 7.3.2. France Digital Panel Meter Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Type
    - 7.3.2.2.2. By Display Technology
    - 7.3.2.2.3. By Display Type
    - 7.3.2.2.4. By End User
    - 7.3.2.2.5. By Applications
- 7.3.3. United Kingdom Digital Panel Meter Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Type
    - 7.3.3.2.2. By Display Technology
    - 7.3.3.2.3. By Display Type
    - 7.3.3.2.4. By End User
    - 7.3.3.2.5. By Applications
- 7.3.4. Italy Digital Panel Meter Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Type
    - 7.3.4.2.2. By Display Technology
    - 7.3.4.2.3. By Display Type
    - 7.3.4.2.4. By End User
    - 7.3.4.2.5. By Applications
- 7.3.5. Spain Digital Panel Meter Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Type
    - 7.3.5.2.2. By Display Technology
    - 7.3.5.2.3. By Display Type
    - 7.3.5.2.4. By End User
    - 7.3.5.2.5. By Applications

8. Asia Pacific Digital Panel Meter Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Display Technology
- 8.2.3. By Display Type
- 8.2.4. By End User
- 8.2.5. By Applications
- 8.2.6. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Digital Panel Meter Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Type
    - 8.3.1.2.2. By Display Technology
    - 8.3.1.2.3. By Display Type
    - 8.3.1.2.4. By End User
    - 8.3.1.2.5. By Applications
- 8.3.2. India Digital Panel Meter Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Type
    - 8.3.2.2.2. By Display Technology
    - 8.3.2.2.3. By Display Type
    - 8.3.2.2.4. By End User
    - 8.3.2.2.5. By Applications
- 8.3.3. Japan Digital Panel Meter Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Type
    - 8.3.3.2.2. By Display Technology
    - 8.3.3.2.3. By Display Type
    - 8.3.3.2.4. By End User
    - 8.3.3.2.5. By Applications
- 8.3.4. South Korea Digital Panel Meter Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Type
    - 8.3.4.2.2. By Display Technology
    - 8.3.4.2.3. By Display Type
    - 8.3.4.2.4. By End User
    - 8.3.4.2.5. By Applications
- 8.3.5. Australia Digital Panel Meter Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Type
    - 8.3.5.2.2. By Display Technology
    - 8.3.5.2.3. By Display Type
    - 8.3.5.2.4. By End User
    - 8.3.5.2.5. By Applications

9. Middle East & Africa Digital Panel Meter Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Display Technology
- 9.2.3. By Display Type
- 9.2.4. By End User
- 9.2.5. By Applications
- 9.2.6. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Digital Panel Meter Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Type
    - 9.3.1.2.2. By Display Technology
    - 9.3.1.2.3. By Display Type
    - 9.3.1.2.4. By End User
    - 9.3.1.2.5. By Applications
- 9.3.2. UAE Digital Panel Meter Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Type
    - 9.3.2.2.2. By Display Technology
    - 9.3.2.2.3. By Display Type
    - 9.3.2.2.4. By End User
    - 9.3.2.2.5. By Applications
- 9.3.3. South Africa Digital Panel Meter Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Type
    - 9.3.3.2.2. By Display Technology
    - 9.3.3.2.3. By Display Type
    - 9.3.3.2.4. By End User
    - 9.3.3.2.5. By Applications

10. South America Digital Panel Meter Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Display Technology
- 10.2.3. By Display Type
- 10.2.4. By End User
- 10.2.5. By Applications
- 10.2.6. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Digital Panel Meter Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Type
    - 10.3.1.2.2. By Display Technology
    - 10.3.1.2.3. By Display Type
    - 10.3.1.2.4. By End User
    - 10.3.1.2.5. By Applications
- 10.3.2. Colombia Digital Panel Meter Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Type
    - 10.3.2.2.2. By Display Technology
    - 10.3.2.2.3. By Display Type
    - 10.3.2.2.4. By End User
    - 10.3.2.2.5. By Applications
- 10.3.3. Argentina Digital Panel Meter Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Type
    - 10.3.3.2.2. By Display Technology
    - 10.3.3.2.3. By Display Type
    - 10.3.3.2.4. By End User
    - 10.3.3.2.5. By Applications

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Digital Panel Meter Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Honeywell International Inc.
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Siemens AG
15.3. ABB Ltd.
15.4. Schneider Electric SE
15.5. Yokogawa Electric Corporation
15.6. Emerson Electric Co.
15.7. Red Lion Controls, Inc.
15.8. OMEGA Engineering, Inc.
15.9. Advantech Co., Ltd.
15.10. Tektronix, Inc.