Oscilloscope Market Research Report- Forecast till 2023
Market Highlights
Market Research Future (MRFR), in its current “Oscilloscope Market” report, states that due to the advent of digital oscilloscope, an increase in the scope of application of oscilloscopes has been observed. It is expected to cause the worldwide oscilloscope market to thrive at 8.12% CAGR across the review period (2018 to 2023). MRFR study states that the oscilloscope market can exceed a valuation of USD 2 Billion by 2023. A high traction for digital oscilloscopes in the electronics and automotive industries is observed that is expected to impel the expansion of the oscilloscope market in the foreseeable future. Companies are making deliberate efforts to launch new designs that are more reliable and safer. It is also expected to boost the oscilloscope market across the forecast period.
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Competitive Dashboard
MRFR’s list of top-notch companies that are functioning in oscilloscope market are; Nation Instruments, Rohde & Schwarz, Keysight Technologies, Inc., Fluke Corporation, Teledyne LeCroy, Pico technology Ltd. Yokogawa Electric Corporation, TEKTRONIX, INC., RIGOL Technologies Inc., and Texas Instruments Incorporated.
Segmental Analysis
This oscilloscope market’s segmental analysis is based on probe type, device type, component, and end-user.
The component-based segment are software and device & probe. The devices and probes segment is expected to expand at a high CAGR across the forecast period. The segment is expected to exceed a valuation of USD 813.67 million by 2023. The easy availability of device and probes hardware components is expected to spur the oscilloscope market. Oscilloscope devices offers high degree of accuracy in the analysis of analog waveforms. Probes effectively amplify signals, ensures greater signal integrity, and aids in easy access to power, thereby offering better performance. This is expected to impel the oscilloscope market growth.
The device-based segments of the market are analog oscilloscope, digital oscilloscope, and PC based. The digital oscilloscope segment comprises digital storage oscilloscope, digital phosphor oscilloscope, and digital sampling oscilloscope. The digital oscilloscope segment is expected to thrive at a high CAGR in the evaluation period. MRFR predicts the segment to exceed a valuation of USD 1,100 million by 2023.
The type-based segments of the market are active oscilloscope, current probes, and passive oscilloscope. The passive oscilloscope probe segment to secure the largest share of the global market. The passive oscilloscope segment is expected to expand at a high growth rate in the near future.
The end-user-based segments of the market are consumer electronics, healthcare, automotive, aerospace & defense, and others. The consumer electronics segment is expected to gain considerable traction due to surge in the demand for oscilloscopes in the consumer electronics sector to improve existing models and developing new designs.
Regional Outlook
MRFR findings reveal that the APAC is a lucrative regional segment of the oscilloscope market. The Asia Pacific oscilloscope market is expected to hold command over the global market through the forecast period. The expansion of the oscilloscope market in APAC can be attributed to rapid industrialization and rise in the adoption of digital oscilloscope across various sectors.
The North America oscilloscope market is expected to hold second position in the global market. The North America oscilloscope market is expected to exceed valuation of USD 270 billion by 2023 and is likely to register 7.54% CAGR during the review period. The presence of multiple telecommunication network suppliers, automobile giants, test and measurement companies, and manufacturing units in the US, Mexico, and Canada can support the regional market growth.
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Oscilloscope Market: Oscilloscope Market: By Component (Device & Probe and Software), By Device Type (Digital Oscilloscope, PC Based and Analog Oscilloscope), By Probe Type (Passive Oscilloscope Probe, Active Oscilloscope Probe and Current Probes), By End-User (Consumer Electronics, IT & Telecommunication, Automotive Aerospace & Defense, Healthcare and Others) and Region – Forecast Till 2023
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