Light Meter Market to Soar at 6.47% CAGR to 2023

PUNE, India, April 26, 2018 /PRNewswire/ --

ReportsnReports.com adds the global light meter market includes top players, manufacturers and resellers like Konica Minolta Sensing Americas (US), FLIR Systems (US), Sekonic (Japan), Testo SE (Germany), Hioki (Japan), Amprobe (US), KERN & SOHN (Germany), B&K Precision (US), Line Seiki (Japan), PCE Deutschland (Germany), and Hanna Instruments (US).

Browse 71 Market Data Tables and 43 Figures spread through 130 Pages and in-depth TOC on "Light Meter Market by Display (Analog and Digital), Type (General-Purpose, LED, and UV), Lux Range (0-200K Lux and Above 200K Lux), Application (Photography & Cinematography, Commercial Spaces, Clinics & Hospitals), and Region - Global Forecast to 2023" http://www.reportsnreports.com/reports/1472566-light-meter-market-by-display-analog-and-digital-type-general-purpose-led-and-uv-lux-range-0-200k-lux-and-above-200k-lux-application-photography-cinematography-commercial-spaces-clinics-hospitals-st-to-2023.html .

Light meter market is expected to grow from USD 305.1 million in 2018 to USD 417.4 million by 2023, at a CAGR of 6.47% between 2018 and 2023. The increasing demand for light meters in the photography and cinematography industry worldwide, regulations to improve workplace lighting and government initiatives toward the standardization of lighting protocols are driving the light meter market.

"Increasing demand for light meters in the photography and cinematography industry worldwide is driving the growth of the light meter market"  

Light meter market can have 2 types of displays-analog and digital. Digital light meters are easy to access as they operate by eliminating the need to analyze the position of a needle in a meter, unlike analog light meters. These light meters also provide more accurate readings than analog light meters, which leads to the dominant position of this segment in the overall light meter.

"General-purpose light meters to hold the largest revenue share of the light meter market in 2017"  

Inquire for DISCOUNT on "Light Meter Market by Display (Analog and Digital), Type (General-Purpose, LED, and UV), Lux Range (0-200K Lux and Above 200K Lux), Application (Photography & Cinematography, Commercial Spaces, Clinics & Hospitals), and Region - Global Forecast to 2023" research report at http://www.reportsnreports.com/contacts/discount.aspx?name=1472566 .

Report covers light meter market based on display, type, lux range, application, and region. Market for digital light meters is expected to grow at a higher CAGR between 2018 and 2023. Digital light meters provide ease of accessibility by eliminating the need to determine the position of a needle in a meter, unlike analog light meters. These light meters also provide more accurate readings than analog light meters, which contributes to the dominance of digital light meters in the market.

The light meter market in APAC is expected to grow at the highest CAGR between 2018 and 2023. The highest growth of the market in APAC is attributed to the fact that the majority of the countries in APAC are in the developing phase. APAC mainly has emerging economies such as China, India, and South Korea, which are witnessing rapid rate of industrialization. Also, the majority of the market in APAC is still untapped for light meters and holds great potential.

Order a copy of "Light Meter Market by Display, Types, Lux Range, Applications and Regions - Global Forecast to 2022" research report at http://www.reportsnreports.com/purchase.aspx?name=1472566 .

The major challenge for the light meter market is the increasing number of manufacturers creating competitive pricing pressure. Light meter manufacturers have to continuously adapt to new technologies and develop the test and measurement (T&M) equipment due to fast innovations. The manufactured products need to meet the given specification and prevail in the competitive market, which increases the pricing pressure on manufacturers.

The break-up of the profiles of primary participants is as follows:  

• By Company Type: Tier 1-20 %, Tier 2-45%, and Tier 3-35%
• By Designation: C-Level Executives-35%, Directors-25%, and Others-40%
• By Geography: Americas-45%, Europe-25%, APAC-20%, and RoW-10%

The light meter market is facing few restraints such as the development of smartphone applications and light measuring devices to substitute light meters. Smartphones can also be used as light meters by installing various mobile applications. The factors such as calibration, failure rate, and repair affect the price of an instrument.

Another research titled the smart lighting market is estimated to grow from USD 7.93 billion in 2018 to USD 20.98 billion by 2023, at a CAGR of 21.50% between 2018 and 2023. Prominent players in the market include Philips Lighting (Netherlands), Hafele Group (Germany), Acuity Brands (US), OSRAM (Germany), Cree (US), Hubbell Lighting (US), Zumtobel Group (Austria), Honeywell (US), Legr and (France), Eaton (Ireland), Lutron Electronics (US), and General Electric (US) available with 169 pages at http://www.reportsnreports.com/purchase.aspx?name=226128 .

Explore more reports on Semiconductor and Electronics at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/ .

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