LONDON--(BUSINESS WIRE)--#Technavio--The new industrial counters market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

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"One of the primary growth drivers for this market is the increase of precision control in the healthcare sector�, says a senior analyst for the industrials industry at Technavio. As the markets recover, Technavio expects the industrial counters market size to grow by USD 179.08 million during the period 2020-2024.

Industrial Counters Market Segment Highlights for 2020

• The industrial counters market is expected to post a year-over-year growth rate of 1.89%.
• Based on the end-user, the market saw maximum demand for industrial counters from the food and beverage industry. This is due to the increased use of industrial counters for counting function for a range of products such as raw materials, semi-finished goods, finished products, and packaging materials in the F&B industry.
• The market growth in the food and beverage segment will be significant over the forecast period.

Regional Analysis

• 38% of the growth will originate from the APAC region.
• The market growth in APAC is driven by the growth of the food and beverage and semiconductor and electronics industries.
• China and Japan are the key markets for industrial counters in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Notes:

• The industrial counters market size is expected to accelerate at a CAGR of almost 4% during the forecast period.
• The industrial counters market is segmented by End-user (Food and beverage, Healthcare, Semiconductor and electronics, and Industrial manufacturing) and Geography (APAC, Europe, North America, South America, and MEA).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Eaton Corporation Plc, Hengstler GmbH, Littelfuse Inc., Mitsubishi Electric Corp., OMRON Corp., Panasonic Corp., Pepperl+Fuchs AG, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG

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