Oscilloscope Market Is Projected To Expand At A Healthy Growth Rate By 2023
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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