July 25, 2024

Oscilloscope Market Is Expected To Be Flourished By Growing Demand For Portable Oscilloscopes

Oscilloscopes are electronic test instruments that allow observation of voltage changes over time. They are commonly used to measure and analyze electric signals by triggering the trace to start at a specific event. Rising demand for portable oscilloscopes from the manufacturing, automotive and electronics industries for rapid troubleshooting is expected to drive the growth of the oscilloscope market. Portable oscilloscopes provide mobility and multi-channel capabilities for easy on-site analysis of signals. Oscilloscopes are used to test new products, troubleshoot faults and optimize performance.

The global Oscilloscope Market is estimated to be valued at Us$ 2311.04 Mn in 2023 and is expected to exhibit a Cagr OF 5.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

The growing demand for portable oscilloscopes from the manufacturing sector is expected to be a major driver for the oscilloscope market over the forecast period. Portable oscilloscopes enable on-site testing of electronic circuits and systems without the need for additional infrastructure. Their compact design and multi-channel capabilities help technicians analyze complex circuits with ease. Moreover, rising complexity of electronic circuits and systems necessitates time-efficient testing equipment like portable oscilloscopes for swift resolution of issues. The oscilloscope market is also expected to be driven by increasing adoption of portable oscilloscopes in automotive manufacturing for quality assurance testing of electrical components during and after production. Their use in research and development activities of various industries will also contribute to market growth over the forecast period.

Segment Analysis

The global oscilloscope market is segmented based on type, bandwidth, connectivity, end-user and region. Based on type, the market is divided into digital oscilloscope and analog oscilloscope. Digital oscilloscopes dominate the overall market and are expected to continue dominating over the forecast period due to their advanced features such as storage of waveforms, ability to perform digital signal processing, and connectivity with other devices.

PEST Analysis

Political: Governments in various countries are supporting the R&D activities in electronics industry by providing funding. This is positively impacting the oscilloscope market.

Economic: Growth of industries such as electronics, automotive and healthcare is driving the demand for oscilloscope for testing and measurement applications. Rise in disposable incomes is also fueling the market growth.

Social: Increasing awareness about product quality and safety is propelling the use of oscilloscopes across industries for testing purposes.

Technological: Advancements in oscilloscope technologies such as fast sampling rate, high bandwidth and digital storage are supporting their incorporation in complex circuit design and fault analysis. Integration of WiFi/LAN connectivity is facilitating data transfer and remote monitoring.

Key Takeaways

The Global Oscilloscope Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 driven by factors such as rapid industrialization, increasing investments in R&D, and demand from consumer electronics industry. Regionally, Asia Pacific dominates the market and is expected to maintain its leading position during the forecast period. Countries like China, India, Japan and South Korea are major contributors to regional market growth.

Key players operating in the oscilloscope market are Scientech Technologies Pvt. Ltd., Tektronix Inc., B&K Precision Corporation, Keysight Technologies Inc., Pico Technology Holdings Ltd., Rohde & Schwarz GmbH & Co. KG, Siglent Technologies Co. Ltd., Teledyne LeCroy Inc., Fluke Corporation, Yokogawa Test & Measurement Corporation, Rigol Technologies Inc., and National Instruments Corporation. These players are focused on developing innovative oscilloscope with advanced features to expand their market share.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it