Industrial Automation Digital Panel Meter Market

Industrial Automation Digital Panel Meter Market Size

According to a recent study by Global Market Insights Inc., the industrial automation digital panel meter market was estimated at USD 1.26 billion in 2024. The market is expected to grow from USD 1.34 billion in 2025 to USD 2.48 billion in 2034, at a CAGR of 7.1%.

• Rapid expansion of industrial Internet of Things deployments together with widespread native Ethernet and Modbus connectivity in panel meter will accelerate industry growth. The demand for consolidated, multifunction meters coupled with site-level goals to reduce panel complexity will drive the business momentum.
  
• An industrial automation digital panel meter is a precision instrument designed to digitally display measurements such as voltage, current, temperature, pressure, flow rate, or other process variables. It is typically mounted on a control panel and receives input signals from sensors, transducers, or transmitters.
  
• For reference, in January 2023, ABB launched its Cylon Smart Building Management Systems in the Middle East, aiming to enhance automation and energy efficiency in both commercial and industrial facilities. The Cylon BMS platform enables real-time supervision and control of building operations, offering a scalable solution that helps significantly reduce energy expenses through intelligent energy management strategies.
  
• Adoption of high-speed signal processing microcontrollers coupled with the demand for real-time machine monitoring will spur product penetration in automation control panels. Integration of advanced measurement functions together with automation controllers requiring fast and accurate feedback will augment industry momentum.
  
• Growing use of digital panel meters in motor control centers in line with the expansion of process automation across manufacturing plants will foster industry growth. Development of intelligent meters capable of handling multiple parameters coupled with the need to optimize power and load distribution in automated lines will strengthen product demand.
  
• Rising emphasis on predictive maintenance in association with meters offering event logging and historical trend capture will drive business expansion. Continuous upgradation of industrial fieldbus protocols paired with meters supporting PROFINET, EtherNet/IP, and CANopen interfaces will accelerate adoption across automated plants.
  
• Integration of digital panel meters with industrial robots in line with the requirements for precise torque and speed monitoring will fuel industry potential. Expansion of discrete manufacturing operations together with the growing use of programmable indicators will bolster product deployment.
  
• For instance, in January 2025, OpenAI, SoftBank, and Oracle jointly launched the Stargate project, a large-scale investment in artificial intelligence infrastructure valued at USD 100 billion, with potential expansion up to USD 500 billion. The initiative includes the development of 10 advanced data centers, with one already under construction in Abilene, Texas, and plans to scale up to 20 facilities across various strategic locations.
  
• Increasing demand for compact multifunction meters in tandem with panel space optimization practices will foster industry scenario. Enhanced user interfaces with touch displays coupled with the operator’s need for quick visualization of key process parameters will drive business outlook.
  
• The industrial automation digital panel meter market was valued at USD 1.1 billion in 2021 and grew at a CAGR of over 6% through 2024. Continuous innovation in embedded software in line with industrial edge-computing practices will strengthen the overall industry potential.
  
• Adoption of DPMs capable of dual communication ports coupled with redundancy needs in mission-critical automation networks will spur industry dynamics. Increasing requirements for local alarm triggers and relay outputs together with distributed control strategies will augment the integration of smart meters at equipment level.
  

Industrial Automation Digital Panel Meter Market Trends

• The widespread adoption of automated control systems across manufacturing and process industries is significantly boosting the demand for digital panel meters. As industries transition from manual operations to automated workflows, the need for precise, real-time monitoring of electrical and process parameters becomes critical.
  
• Digital panel meters serve as essential components in automation panels, offering accurate data visualization and control feedback for temperature, pressure, voltage, current, and flow. Their integration ensures operational efficiency, minimizes human error, and supports predictive maintenance strategies.
  
• For citation, in April 2024, the Department of Energy in the Philippines awarded contracts for the development of eight hybrid microgrid systems in previously underserved regions. The Maharlika consortium, which includes Maharlika Clean Power Holding, CleanGrid Partners, and WEnergy Global, secured the contract to implement these projects, aiming to improve energy access and sustainability in remote communities.
  
• The integration of digital panel meters with programmable logic controllers (PLCs) and supervisory control and data acquisition (SCADA) systems is emerging as a key growth driver in industrial automation. These meters act as front-end devices that collect and display real-time data, which is then transmitted to centralized control systems for analysis and decision-making.
  
• This seamless connectivity enables industries to monitor multiple parameters across distributed assets, enhancing visibility and control. In automated environments, digital panel meters provide critical input for closed-loop control systems, ensuring process stability and compliance with operational thresholds.
  
• For illustration, during the second quarter of 2024, the Station Locator network saw a 6.3% overall increase in EV charging infrastructure. This growth was primarily driven by a 6.5% rise in public charging ports and a 4.4% increase in private installations.
  
• The global shift toward energy-efficient and safety-compliant industrial operations is driving the adoption of digital panel meters in automation systems. These meters play a vital role in monitoring energy consumption, detecting anomalies, and ensuring safety standards.
  
• With rising energy costs and stricter environmental regulations, industries are prioritizing equipment that supports energy optimization and risk mitigation. Digital panel meters help track power usage, voltage fluctuations, and load distribution, enabling operators to implement corrective actions and reduce energy waste.
  

Industrial Automation Digital Panel Meter Market Analysis

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• Based on product, the industry is segmented into temperature meters, voltage meters, current meters, power meters, and multifunction meters. The temperature meter market holds a share of 42.8% in 2024 and is expected to grow at a CAGR of over 7% through 2034.
  
• Closed-loop temperature control in line with denser sensor networks will accelerate industry growth. PID and cascade schemes coupled with fast RTD/thermocouple sampling will bolster business momentum. Furnace, oven, and kiln modernization in tandem with SSR/relay setpoint outputs will drive business outlook.
  
• The voltage industrial automation digital panel meter market was evaluated at USD 221.3 million in 2024. Automated power distribution in line with voltage-ride-through targets will boost production adoption. PLC-integrated transfer logic coupled with fast under-voltage alarms will bolster grid-interactive cell resilience and industry dynamics.
  
• For illustration, global electricity consumption worldwide is expected to grow at a steady pace, with an average annual increase of 3.4% through 2026. This projected rise is driven by the accelerating electrification of various sectors, alongside the rapid expansion of digital technologies, industrial operations, and clean energy infrastructure across global markets.
  
• The current industrial automation digital panel meter market is set to reach over USD 300 million by 2034. Motor-centric automation in line with overload prevention will escalate product deployment. Split-core CT retrofits in association with MCC decentralization will bolster business growth. Unbalanced and inrush detection in tandem with event capture will also drive predictive maintenance program.
  
• The power industrial automation digital panel meter market will witness a CAGR of over 7% through 2034. Energy-optimization programs in line with automated load shedding will fortify business growth. Tariff-aware submetering coupled with power-factor correction will foster cost-allocation deployments. Interval kWh logging paired with carbon-accounting initiatives will strengthen sustainability-led demand.
  
• For citation, in 2024, global energy financing is projected to reach an unprecedented USD 3 trillion, with more than USD 2 trillion allocated toward infrastructure development and low-carbon energy technologies.
  
• The multifunction industrial automation digital panel meter market was valued at USD 218.6 million in 2024. Industry 4.0 rollouts along with consolidation of V/I/PF/energy/PQ will accelerate the business outlook. BOM and cabinet-space reduction coupled with unified HMIs will propel OEM panel standardization momentum.

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• Based on display type, the industry is segmented into LED display and LCD display. The LED display industrial automation digital panel meter market will witness a growth rate of over 7% from 2025 to 2034. Wider adoption of high-visibility LED displays in line with 24/7 plant-floor operations will accelerate the business landscape.
  
• Demand for large-digit, high-contrast LED readouts in association with requirement for quick operator glances will bolster panel-meter visibility and safety dynamics. Increasing use of multi-color status indicators in tandem with alarm-priority schemes will strengthen response times and on-site fault isolation potential.
  
• For reference, in the second quarter of 2024, global energy consumption saw a notable rise, with the power sector leading to an increase as electricity usage grew by nearly 1,100 terawatt-hours, marking a 4.3% year-over-year jump.
  
• The LCD display segment is set to reach over USD 500 million by 2034. Increasing demand for graphical LCD HMIs in line with complex process visualization needs will propel the adoption of LCD-equipped panel meters. Preferences for multi-line, alphanumeric LCDs together with recipe and batch-display requirements will bolster operator clarity and process traceability.
  
• Integration of multi-segment graphical icons in line with localized help text will drive faster fault diagnosis and operator training efficiency. The demand for low-power reflective LCD modes in association with battery-backed or UPS-protected nodes will augment energy-efficient automation designs.

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• The U.S. dominated the industrial automation digital panel meter market in North America with USD 153.6 million in 2024. Robust expansion of smart manufacturing initiatives in line with rising factory-automation investments will accelerate DPM adoption across the country’s production facilities.
  
• The North America industrial automation digital panel meter market will project at a CAGR of over 6.5% by 2034. Infrastructure upgrades coupled with regional grid-interconnection projects will bolster deployment of power and multifunction meter at substations and plants.
  
• Rising focus on energy efficiency incentives paired with plant-level demand-response capabilities will foster power-meter and energy-submeter rollouts. Brownfield modernization coupled with availability of retrofit form-factors will spur replacement of older analog panels with advancement models.
  
• For reference, Schneider Electric plans to invest over USD 700 million into its U.S. operations, focusing on expanding its capabilities in energy infrastructure and manufacturing. This investment aims to enhance AI-driven energy demand management and significantly boost domestic production capacity, aligning with the company’s commitment to innovation and sustainable energy solutions.
  
• The Asia Pacific industrial automation digital panel meter market holds a share of 41.3% in 2024. Rapid industrial expansion and new plants built in line with regional manufacturing growth will accelerate demand for digital panel meter. Widespread adoption of IIoT and mobile commissioning in tandem with meter offering MQTT and smartphone provisioning will spur cloud-integrated deployment.
  
• The Europe industrial automation digital panel meter market was valued at USD 278.1 million in 2024. Intensifying energy-efficiency mandates together with national and EU-level targets will accelerate adoption of energy-monitoring and power-meter solutions. Strong focus on sustainability reporting and requirement for interval kWh logging will bolster procurement of certified submetering devices.
  
• For citation, in June 2024, the European Commission introduced the Net Zero Industry Act, aimed at accelerating the domestic production of clean technologies within the EU. The policy framework targets achieving a 40% deployment threshold by 2030, reducing reliance on imported technologies, and enhancing the global competitiveness of European industrial sectors in the clean energy transition.
  
• The Middle East & Africa industrial automation digital panel meter market will exceed USD 150 million by 2034. Rapid expansion of energy and petrochemical projects in line with regional capital investment will boost the demand for hazardous areas and high-accuracy meters.
  
• The Latin America industrial automation digital panel meter market will witness a growth rate of over 4.5% by 2034. Infrastructure renewal and industrial revitalization along with increased automation investment will sway the demand for digital metering across industries. In addition, project-driven procurement and EPC-led rollouts coupled with single-vendor accountability for instrumentation will consolidate meter purchase.
  

Industrial Automation Digital Panel Meter Market Share

• The top 5 companies in the Industrial automation digital panel meter industry are BEEMET, Autonics Corporation, Trumeter, OMRON Corporation, and Murata Manufacturing, contributing around 40% of the market in 2024. Industrial environments with high-risk operations are increasingly relying on digital panel meters for accurate monitoring and compliance, making safety performance a central factor in product selection and deployment.
  
• BEEMET focuses on delivering user-friendly meters for voltage, current, and frequency monitoring, widely used in automation panels across manufacturing and utility sectors. BEEMET’s strength lies in its localized production and ability to cater to custom specifications for OEMs and system integrators.
  
• Autonics Corporation with a focus on compact design and multifunctional capabilities are widely adopted in factory automation, packaging, and semiconductor industries. The company’s competitive edge stems from its innovation in user interface, modularity, and compatibility with global automation standards.
  
• Trumeter is known for intuitive design and advanced customization which are used in energy monitoring, industrial machinery, and control panels. The company emphasizes flexibility, offering programmable solutions that integrate seamlessly with modern automation platforms.
  
• OMRON Corporation’s are engineered for demanding industrial environments, supporting real-time diagnostics and communication with PLCs and HMIs. The company’s global presence and R&D capabilities enable it to deliver scalable solutions for diverse automation needs.
  
• Murata Manufacturing’s meters are designed for precision and miniaturization, serving applications in robotics, automotive automation, and smart factories. The company leverages its expertise in electronic innovation to develop meters that support advanced sensing and control functions.
  

Industrial Automation Digital Panel Meter Market Companies

• In 2024, Siemens achieved a total revenue of USD 86.6 billion, reflecting a modest 1.4% increase over the previous year. The company reported a gross profit of USD 34 billion, underscoring its strong operational efficiency. Siemens also boosted its investment in research and development to USD 7.2 billion, marking a 2.7% rise from 2023. This increase highlights the company’s ongoing commitment to innovation, particularly in advancing its industrial automation and digital technologies portfolio.
  
• Schneider Electric posted USD 43.5 billion in revenue for 2024, representing a 6.3% year-on-year growth. The company operates across two major segments: energy management, which contributed USD 35.5 billion, and industrial automation, which added USD 8 billion to the overall revenue. This balanced growth across both domains reflects Schneider’s strategic focus on sustainable energy solutions and intelligent automation systems, positioning it as a key player in the global industrial technology landscape.
  
• During the first three quarters of 2024, OMRON Corporation recorded USD 4 billion in net sales, supported by a rise in gross profit to USD 1.8 billion, driven by a 1.4% improvement in profit margins. The company’s operating income increased by USD 0.3 billion, marking a 35% growth, which signals enhanced operational efficiency and profitability. These gains reflect OMRON’s strategic emphasis on automation, sensing technologies, and its ability to deliver high-performance solutions across industrial and healthcare sectors.
  

Major players operating in the industrial automation digital panel meter market are:

• Autonics Corporation
• BEEMET
• Cebeo
• Himel
• Honeywell International
• Jewell Instruments
• Lascar Electronics
• Lauritz Knudsen Electrical & Automation
• LUMEL
• Murata Manufacturing
• Omega Engineering
• OMRON Corporation
• Phoenix Contact
• Powertrac Meters
• Schneider Electric
• Secure Meters
• Selec Controls
• Siemens
• TE Connectivity
• Trumeter
  

Industrial Automation Digital Panel Meter Industry News

• In March 2025, Siemens committed USD 285 million to establish two advanced manufacturing facilities in Fort Worth, Texas and Pomona, California. These new plants are expected to generate over 900 skilled employment opportunities and more than double the company’s production capacity. The facilities are strategically designed to support critical U.S. infrastructure needs, including electric power systems for AI data centers and grid reliability enhancements, reinforcing Siemens’ role in next-generation energy and automation solutions.
  
• In February 2025, Schneider Electric announced an investment of USD 370.2 million to expand its manufacturing operations in India. The initiative includes the construction of new production units in Kolkata and Hyderabad, along with upgrades to existing facilities. This expansion aims to strengthen the company’s electrical product supply chain, enhance resilience, and meet the growing demand for sustainable energy technologies, positioning India as a key hub in Schneider’s global manufacturing strategy.
  
• In January 2025, GE Vernova unveiled plans to invest USD 600 million over a two-year period to upgrade its U.S.-based factories and facilities. The objective is to scale up production of advanced power systems to meet rising infrastructure demands both domestically and internationally. This move reflects GE Vernova’s commitment to supporting the transition to cleaner, more efficient energy systems through enhanced manufacturing capabilities.
  
• In November 2022, Murata Power Solutions expanded its DMR35 series of digital panel meters, introducing five new models tailored for AC voltage and current measurements in industrial and factory automation settings. These units are designed as direct replacements for traditional 2-1/4” analog meters, featuring high-brightness LED displays, marker lamps, and support for true RMS and averaging modes, offering improved performance and visibility in demanding environments.
  

The industrial automation digital panel meter market research reports include in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and volume (‘000 Units) from 2021 to 2034, for the following segments:

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Market, By Product

• Temperature Meters
• Voltage Meters
• Current Meters
• Power Meters
• Multifunction Meters

Market, By Display Type

• LED Display
• LCD Display

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
• Latin America
  • Brazil
  • Argentina