by 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 Overview
An oscilloscope is an electronic test instrument used for observing waveforms. Oscilloscopes are commonly used in engineering to examine electronic signals resulting from circuit operations. Digital storage oscilloscopes have become increasingly available and capable, allowing engineers to more easily analyze waveforms and debug hardware.
Market key trends
The oscilloscope market is witnessing rising demand from end use sectors such as electronics, automotive and communications. Growing applications of oscilloscopes in fields of telecommunications, consumer electronics and medical equipment are driving market growth. In addition, technological advancements resulting in the development of portable oscilloscopes with improved accuracy, storage and display capabilities are expanding the scope of oscilloscope applications. Rising demand for integrated oscilloscopes that offer advanced measurement functions like protocol decoding is another key trend in the market.
SWOT Analysis
Strength: Oscilloscopes offers features like enhanced resolution, faster sampling rates and bandwidths that enables measurement of fast electronics signals. This high-performance helps in analyzing complex electronic designs and hence strengthens its presence in the market.
Weakness: Higher cost of advanced oscilloscopes limits its adoption, especially in education and hobbyist sector. Students and hobbyists prefer cheaper alternatives that restrict the scope of oscilloscopes.
Opportunity: Growing demand for testing fast electronics and communication networks creates opportunities for oscilloscope manufacturers to introduce customized products. Rise in IoT and 5G technology boosts the scope of deployment of oscilloscopes.
Threats: Availability of cheaper open-source alternatives and software-based oscilloscopes poses threats. Constant technological advancements require frequent upgradation that adds to the total cost of ownership.
Key Takeaways
Global Oscilloscope Market Size is expected to witness high growth, exhibiting CAGR of 5.1% over the forecast period, due to increasing demand for testing complex electronics and communication systems.
Regional analysis:
Asia Pacific dominates the market and is expected to maintain its lead position during the forecast period, growing at a CAGR of over 6%. China, Japan, and India are major contributors to the growth of APAC oscilloscope market. North America is expected to showcase significant growth due to wide adoption in industries such as automotive and electronics.
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. Key players are focusing on product launches and partnerships to strengthen their position in the market. For instance, in 2021, Keysight collaborated with Rohde & Schwarz to enhance oscilloscope-based measurement solutions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
