(MENAFN- iCrowdNewsWire) Digital oscilloscope Market 2021 Share Growing Rapidly With Current Trends, Global Scope & Industry Size, Growth, Revenue and Forecast 2025
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iCrowdNewswire Jan 13, 2021 2:55 PM ET
Market Research Future published a research report on 'Digital oscilloscope Market Research Report - Global Forecast till 2023 Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Synopsis
The global digital oscilloscope market is picking up gradually, in terms of revenues as well as size. With the ability to convert any form of energy like heat, light, and sound into digital form with high accuracy and precision, digital oscilloscope has long been replacing analog oscilloscope. The market growth primarily attributes to the extensive adoption of digital oscilloscopes in consumer electronics, manufacturing, and precision engineering.
Moreover, user-friendly features of digital oscilloscope escalate the market growth to furthered height. According to Market Research Future (MRFR), the digital oscilloscope market is poised to create a valuation of approximately USD 3.01 BN by 2023, growing at 6.82 % CAGR during the forecasted period (2017 2023). Oscilloscopes find applications mostly in the manufacturing sector. Handheld or mobile oscilloscopes are more popular due to the convenience of the mobility they offer.
Additionally, increasing R & D investments made by the market players and huge technological advancements increase the size of the market. Also, increasing population and rapid urbanization across the world bolster the growth of the market. Significant rise in the global economy provides a considerable impetus to the market growth, increasing sales of consumer electronics products by improving consumer purchasing power.
Market Segmentation
The Digital Oscilloscope Market is divided into Form, Application, End User and Regional segments. It is further bifurcated into Mobile Digital Oscilloscope and Stationary Digital Oscilloscope according to form. The hand held, or handheld oscilloscopes led this segmentation, as their comfort and versatility is the aspect that adds value. Digital Oscilloscope market is divided into data communication, 3D sensing, IP video, radar and electronic warfare, Power and energy management, and optical solutions based on Application. Even on the basis of End Users in which Electronics leads the league, the digital oscilloscope market is segmented. Electronics includes products from the component manufacturing to consumer electronics.
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Regional Outlook
The demand for optical oscilloscopes is segmented into regions such as North America, Europe, APAC and the rest of the world.
The Asia Pacific is the Optical Oscilloscope market leader, thanks to end-users such as consumer electronics and part manufacturing. Companies such as Huawei, Samsung and ZTE are the world leaders in consumer electronics and device manufacturing in countries such as China, Japan, South Korea, India and Taiwan. They are also the developing economies that are introducing the latest and disruptive technologies that warrant a lot of accuracy and precision.
North America, though, follows the APAC, but the difference is enormous. Major manufacturing of semiconductors and component electronics worldwide is done in APAC. Owing to the significant presence of consumers of digital storage oscilloscopes North America leads the global market for digital storage oscilloscopes. The development of the demand for digital storage oscilloscopes in Western Europe, Eastern Europe, follows the market in North America thanks to the adaptation of digital storage oscilloscopes technologies in the electronics and manufacturing sector in this region.
Competitive Dynamics
The Digital oscilloscope market holds some of the major players such as UNI-Trends (China), Tektronix, Inc (US), GW Instek (Taiwan), Keysight Technologies (US), Teledyne LeCroy Corporation (US), Fluke Corporation (US), GAO Tek (Canada), Rohde & Schwarz GmbH (Germany), Rigol technologies (China), OWON (China), and Hantek (China).
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