Westford,USA, July 11, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest,the healthcare sector is experiencing a prominent expansion in the demand for load monitoring system market. This growth is primarily driven by increasing utilization for monitoring and testing purposes. Load monitoring systems play a crucial role in ensuring patient safety and optimizing the efficiency of healthcare equipment. One significant factor contributing to the market's expansion is the constant technological advancements in load cells.
Browse in-depth TOC on the "Load Monitoring System Market"
- Pages - 260
- Tables - 64
- Figures – 75
The load cell is expected to exhibit higher growth rates within the load monitoring system market. Load cells are the most widely used offering in this market. The increased industrial output and subsequent demand for industrial weighing equipment in the industrial manufacturing sector are major factors contributing to this growth.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 3.11 Billion |
| 2030 Value Projection | USD 6.75 Billion |
| CAGR | 9% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Load Monitoring System Market
- Osaka Gas Chemicals Co., Ltd.
- Silcarbon Aktivkohle GmbH
- Calgon Carbon Corporation
- Cabot Corporation
- Kuraray Co., Ltd.
- Donau Carbon GmbH
- Kureha Corporation
- ADA-ES, Inc.
- Carbon Activated Corporation
- Haycarb PLC
- Jacobi Carbons AB
- WestRock Company
- Boyce Carbon
- Koppert B.V.
- Ingevity Corporation
- Oxbow Load Monitoring System LLC
- Pure Effect, Inc.
- Universal Carbons (India)
- Oxbow Load Monitoring System LLC
Automotive Segmentis Expected to Grow in the Market Due totheIncreasing Adoption of Digital Platforms
The automotive category emerged as the leader, capturing the largest market. However, it is projected that the online retail segment within the automotive industry will experience the fastest growth rate throughout the forecast period. This surge in online retail can be attributed to evolving consumer preferences and the increasing adoption of digital platforms for purchasing automotive products and services.
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The markets in Europe are poised to dominate the load monitoring systemmarket during the forecast period. This can be attributed to a large manufacturing base, particularly in the automotive and aerospace industries, which rely extensively on material handling activities. The need for efficient and accurate weighing, lifting, and transporting of materials in these industries drives Europe's demand for load monitoring systems.
Analog Technology Segment is Expected to Dominate the Market Due tothe Low-Cost Associated with Analog Systems
The analog technology segment is projected to dominate the load monitoring system market during the forecast period. This can be attributed to several factors, including the simplicity of implementation and the low cost associated with analog systems. The increasing demand for analog load monitoring systems from various industries, such as food and beverages, agriculture, mining, and automotive, further contributes to the growth of this segment.
Regional markets in the Asia-Pacific are projected to experience significant growth in the global load monitoring systemmarket during the forecast period. This can be attributed to several factors driving the market expansion in the region, particularly in developing economies such as China.
A comprehensive analysis of the major players in the load monitoring systemmarket has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Load Monitoring System Market
- LexisNexis Risk Solutions recently completed the acquisition of BehavioSec, a prominent company renowned for its behavioural biometrics technology. This strategic move aimed to enhance LexisNexis' identity verification and fraud prevention portfolio. By integrating BehavioSec's technology into its existing ThreatMetrix solution, LexisNexis intends to offer clients an advanced level of passive security. This acquisition signifies LexisNexis' commitment to providing robust solutions to combat evolving threats in the digital space.
- Foundry Partners LLC, an institutional investor, recently made significant adjustments to its stake in Vishay Precision Group, Inc., a company specializing in scientific and technical instruments. Foundry Partners LLC sold 35,950 shares during the period, reducing its holdings to 48,015. The total value of the shares held by Foundry Partners LLC in Vishay Precision Group was approximately $1,544,000.
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Key Questions Answered in Load Monitoring System Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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