Digital Oscilloscope Market would reach approximately USD 3.01 BN by 2023, registering a steady CAGR of 6.82 % throughout the forecasted period (2017 – 2023)
The digital oscilloscope market is witnessing slow yet steady growth. Although digital oscilloscope enjoys the largest market share, its market has still not tasted the kind of success it deserves. With its ability to convert any form of energy (Heat, light, and sound) into digital form with more accuracy and precision, digital oscilloscope has long been replaced analog oscilloscope. Today, digital oscilloscopes are extensively used in consumer electronics, manufacturing, and precision engineering.
Digital oscilloscope turned out to be more user-friendly than any other measuring instruments that measure electric voltage & current, which is the key driving force behind the huge share of the market. According to an eminent research firm
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The market holds most of the manufacturing and end-user applications. Handheld or mobile oscilloscopes are more popular due to the convenience of the mobility they offer. Increasing investments transpired into R&D activities by the market players, and technological advancements are allowing the market to create a significant revenue pocket.
Additional factors bolstering the growth of the market include increasing population and rapid urbanization across the world. Improving economic conditions that enhance consumers’ purchasing power provide a considerable impetus to the growth of the market, increasing sales of consumer electronics products.
Players leading the digital oscilloscope market include Keysight Technologies (US), Tektronix, Inc (US), GW Instek (Taiwan), Fluke Corporation (US), Teledyne LeCroy Corporation (US), Rohde & Schwarz GmbH (Germany), Rigol technologies (China), GAO Tek (Canada), OWON (China), Hantek (China), and UNI-Trends (China), among others.
Industry/Innovation/ Related News:
June 04, 2019 — Tektronix, Inc. (the US), a leading manufacturing company for test and measurement devices such as oscilloscopes, launched two new products – the 3 Series Mixed Domain Oscilloscope (MDO) and 4 Series Mixed Signal Oscilloscope (MSO), that can deliver the most powerful, versatile, and easy-to-use oscilloscopes.
With an award-winning design and the largest display in their class, Tektronix oscilloscopes deliver an unparalleled user experience and more choices for all engineers. These models offer a 6.25 GS/s sample rate on all analog and digital channels. The standard record length is 31.25 Mpoints with the option for 62.5 Mpoints.
Global Digital Oscilloscope Market – Segmentations
By Type : Mobile Digital Oscilloscope and Stationary digital oscilloscope
By Application : 3D sensing, Data Communication, IP Video, Radar & Electronic Warfare, Power & Energy Efficiency, and Optical Solutions, among others.
By End-user : Automotive, Medical, Education, Meteorology, Electronics, Telecom, Media, Aerospace & Defence, and Manufacturing, among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Digital Oscilloscope Market – Geographical Analysis
The Asia Pacific accounts for the largest region in the global digital oscilloscope market. The largest share of the APAC market is mainly due to the augmenting demand for cutting-edge technology solutions for measuring the electric voltage. Substantial investments & increasing expenses in the Power sector and wide uptake of the technology increases the size of the market in the region.
Consumer electronics and electronic component manufacturing sectors are the major end-users of digital oscilloscopes. The presence of major players such as Samsung, Huawei, and ZTE impacts market growth, positively. Some of the APAC countries like China, Japan, South Korea, India, and Taiwan are the world leaders in consumer electronics and component manufacturing. Furthermore, the implementation of new and innovative technologies semiconductors and electronic component manufacturing that requires lots of precision and accuracy drive the regional market.
Although the North America digital oscilloscope market follows the APAC market closely, there is a vast difference in terms of the growth drivers of the market. In North America, semiconductor companies drive the regional market, predominantly.
The growth of the regional market attributes to the rapidly growing markets in the US & Canada among the other North American Countries. Besides, the presence of a large number of technology providers and products (hardware) manufacturers in the region, provide impetus to the growth of the regional market.
The digital oscilloscope market in the European region is emerging as the fastest growing market globally. The rapidly surging economy is fostering the regional market, driving the electronics sector majorly. The region is expected to register a substantial CAGR during the review period.
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Global Digital Oscilloscope Market – Competitive Landscape
Highly competitive, the digital oscilloscope market appears to be diversified due to the presence of giant manufacturers. These players invest heavily in R&D, global expansion, advanced technologies, and product launch in order to gain a competitive edge in the market.
A large share of the market is dominated by consumer electronics and component manufacturing companies, along with the end-users such as aerospace & defense, meteorology, and medical & media. Majorly concentrated in the APAC region, these key players keep continually innovating to bring about some new technologies that can improve visuals, accuracy, and data precision.
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