Global Oscilloscope Market to Rake in Over USD 2 Billion By 2023
As per the latest report published by Market Research Future (MRFR), the global Oscilloscope Market will witness a CAGR of 8.12% between 2018 and 2023. The market is anticipated to reach a valuation in excess of USD 2 Billion by the end of the forecast period. The advent of digital oscilloscope has broadened the scope of application of oscilloscope. While analog oscilloscope remains very much relevant, digital oscilloscope continues to gain traction. The application area for oscilloscope spans across aerospace & defense, consumer electronics, automotive IT & telecommunication and healthcare.
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Factors such as incessant growth of end user verticals such as automotive and electronics is fueling the demand for oscilloscope. Moreover, increasing efforts to develop designs that are safer as well as more advanced is creating market opportunities.
Global Oscilloscope Market Competitive Landscape:
Some of the top-notch companies operating in the global oscilloscope market include Rohde & Schwarz, Nation Instruments, Fluke Corporation, Keysight Technologies, Inc., Pico technology Ltd. Teledyne LeCroy, TEKTRONIX, INC., Yokogawa Electric Corporation, Texas Instruments Incorporated and RIGOL Technologies Inc.
Global Oscilloscope Market: Segmental Analysis
This report includes a thorough segmental analysis of the market based on component, device type, probe type, and end-user.
On the basis of component, the market is segmented into device & probe and software. The devices & probes segment is expected to highly attractive during the forecast period. The segment was valued at USD 813.67 million in 2017 and is anticipated to witness a healthy growth over the next couple of years. The device and probes are the hardware components of oscilloscope systems. Oscilloscope devices are used for analyzing and acquiring time?and-frequency-domain analog waveforms. Probes are a vital element in an oscilloscope system as they act as inputs allowing the signal to be carried to the oscilloscope. It also amplifies the signal, ensures signal integrity, and access all the power and performance in an oscilloscope.
Based on devices, the market has been segmented into digital oscilloscope, analog oscilloscope and PC based. The digital oscilloscope segment is further sub-segmented into digital phosphor oscilloscope, digital storage oscilloscope digital sampling oscilloscope and others. The digital oscilloscope segment holds the largest market share. Towards the end of the forecast period, the segment is expected to reach a valuation in excess of USD 1,100 million.
On the basis of type, the market has been segmented into current probes, active oscilloscope and passive oscilloscope. In terms of value, the passive oscilloscope probe segment holds the lion’s share. The segment is likely to maintain a strong growth rate in the foreseeable future.
On the basis of end-user, the market has been segmented into IT & telecommunication, healthcare, consumer electronics, aerospace & defense, automotive and others. In 2017, the consumer electronics segment commanded close to one-third share of the market. The segment is likely to retain its dominant position of 2023, reflecting an above-average growth rate. There is a strong demand for oscilloscopes in the consumer electronics manufacturing sector. They used for improving existing designs and developing new ones.
Global Oscilloscope Market Regional Outlook:
The regions covered in the region include North America, Europe, Asia Pacific (APAC), Latin America and the Middle East & Africa (MEA). Among these, APAC is the most lucrative market for oscilloscope. In terms of value, the region commanded for a significant share of the market in 2018 and the trend is likely to continue throughout the assessment period. The market’s growth can be attributed to the rapid industrialization in various APAC countries.
North America is the second largest market for oscilloscope. In 2017, the North America oscilloscope market was valued at USD 279.77 Million. The market in North America is expected to witness a CAGR of 7.54% during the projection period. A strong presence of telecommunication network providers, test and measurement companies, automotive companies, and manufacturing plants In the U.S. Canada and Mexico is supporting the growth of the market in North America.
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