New York, US, Jan. 17, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Oscilloscope Market: By Component, By Device Type, By Probe Type, By End-User and Region - Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 3.4 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 4.5% during the assessment timeframe.
Oscilloscope Market Insights
The global Oscilloscope Market is likely to grow steadily during the current decade. The extensive adoption of oscilloscopes in consumer electronics, manufacturing, and precision engineering would support the market growth.
Besides, the increasing demand for high-accuracy and precision oscilloscopes is expected to provide a huge impetus to market revenues. Oscilloscopes find applications mostly in the manufacturing sector. Handheld or mobile oscilloscopes are more popular due to the convenience of the mobility they offer. User-friendly features of oscilloscope escalate the market growth to further height.
Additionally, increasing R&D investments made by the market players and huge technological advancements increase the size of the market. Also, the increasing population and rapid urbanization across the world bolster the growth of the market.
Consumer electronics & component manufacturing companies and aerospace & defense and meteorology, and medical & media are the largest end-users of oscilloscopes. Significant rise in the global economy provides a considerable impetus to market growth, increasing sales of consumer electronics products by improving consumer purchasing power.
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Key Players
Players active in the oscilloscope industry are:
- Rohde & Schwarz,
- Teledyne LeCroy,
- Yokogawa Electric Corporation,
- RIGOL Technologies Inc.,
- Nation Instruments,
- Fluke Corporation,
- Keysight Technologies, Inc.,
- TEKTRONIX, INC.,
- Pico technology Ltd.,
- Texas Instruments Incorporated.
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 3.4 Billion |
| Growth Rate | CAGR of 4.5% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Growing R&D investments in automotive, healthcare and electronics. |
| Key Market Drivers | Increased focus towards product design, safety and density |
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Segments
The oscilloscope industry report is segmented based on component type, probe type, device type, end-user, and region. The component type segment is sub-segmented into device, probe, and software. The probe type segment is sub-segmented into current probes, active oscilloscopes probes, and passive oscilloscopes.
The device type segment is sub-segmented into digital oscilloscopes (digital storage oscilloscope, digital phosphor oscilloscope, digital sampling oscilloscope, others), analog oscilloscopes, and PC-based oscilloscopes. The end-user segment is sub-segmented into healthcare, defense, automobile, aerospace, electronics, IT & telecommunications, and others. Further, the region segment is sub-segmented into Europe, the Americas, APAC, MEA, and Rest-of-the-World.
Regional Analysis
The Asia Pacific region dominates the global oscilloscope market. The growing market penetration of oscilloscopes, alongside the rapid expansion of electronics and automobile manufacturing sectors, drives the market growth. Many large oscilloscope manufacturers are primarily concentrated in the APAC. They continually innovate to bring about new technologies that can improve visuals, accuracy, and data precision.
Besides, augmenting demand for cutting-edge test and measurement technology solutions for electric voltage boost the region's market shares. China, India, South Korea, and Japan are major markets contributing to the oscilloscope market in this region. Moreover, substantial investments and increasing expenses in the power sector, alongside the wide uptake of oscilloscopes, substantiate the regional market growth.
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Consumer electronics and electronic component manufacturing sectors in the region boost the oscilloscope market size. Also, the implementation of advanced technologies in semiconductors and electronic component manufacturing that requires high-precision oscilloscopes influences the market growth. The APAC oscilloscope market is projected to retain its dominance throughout the estimated period.
North America stands second in the global oscilloscope market. The semiconductor companies drive the market growth, a large number of technology providers, and product manufacturers in the region. Additionally, large technological advances and the rising sales of dual beam oscilloscopes for signal processing foster the regional market. The US & Canada leads the oscilloscope market in the region.
Growing consumer electronics and component manufacturing, along with other end-users like aerospace, defense, meteorology, and medical & media, allow the region to hold a considerable share of the global market. The North American oscilloscope industry is anticipated to create a substantial revenue pocket during the forecast period.
Europe is emerging as the fastest-growing market for oscilloscopes globally. Factors such as the rapidly surging economy and spurring rise across the end-user industry verticals in the region. Furthermore, the increasing demand for oscilloscopes from the burgeoning automotive, healthcare, electronics, manufacturing, and aerospace & defense sectors escalate the market value. The European oscilloscope market is expected to register a substantial CAGR during the review period.
Competitive Analysis
The oscilloscope market appears highly competitive, with several well-established forming a competitive landscape. Players initiate strategic approaches such as mergers & acquisitions, collaborations, expansion, and product/technology launch to gain a larger competitive share. They make substantial investments to drive their R&D and expansion plans.
Considering current market opportunities, oscilloscope manufacturers substantially invest in innovative product developments and improve their existing product line efficiencies. They are forming alliances with key financers and shareholders involved in the refinancing. These factors, as a result, are expected to boost the oscilloscope market size cumulatively.
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For instance, on Jan. 16, 2023, Teledyne LeCroy introduced power electronics rail probes, 2 GHz RP2060 and 4 GHz RP4060, for testing and measuring low-voltage DC power. These power rail probes enable engineers to probe a low-impedance & voltage DC power/voltage rail signal without loading the device under test (DUT). The rail probes provide around 30 volts of probe offset to display a DC power/voltage rail signal in the vertical center of the oscilloscope.
In another instance, on Jan. 16, 2023, Siglent Technologies, a leading global designer and manufacturer of electronic test & measurement devices, launched low-profile oscilloscopes. The SDS6000L digital oscilloscopes have a very compact format, making it possible to multiply the number of measurement channels.
It is important to understand how the subsystems of complex & powerful computers and communication systems need to interact with each other. With the help of new SDS6000L digital oscilloscopes, development and test engineers can easily validate operation at the complete system level across multiple programs and subsystems.
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