July 24, 2024

The Global Oscilloscope Market Is Driven By Growing Industrialization

Oscilloscopes are electronic test instruments used to measure and analyze the waveform of electric signals. They are widely used in medical, industrial, electronic and telecommunication sectors to troubleshoot electronic circuits and capture signals for debugging purposes.

Oscilloscopes have various applications such as analyzing electronic circuits, observing signal faults, measuring rise times, observing changing waveforms and evaluating the quality of square, pulse and digital waveforms. They provide advantages like high accuracy, portability, easy to use interfaces and ability to capture and analyze brief intermittent events. With rapid industrialization and advancements in electronics technology, there is an increasing demand for industrial and laboratory oscilloscopes across various industries globally.

The global Oscilloscope Market is estimated to be valued at US$ 2,311.04 Million 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 key trends

The oscilloscope market is witnessing increased demand for portable oscilloscopes that are lightweight, easy to carry and provide high accuracy even in field operations. Portable oscilloscopes are finding increased applications in industries like automotive, aerospace, telecommunication and electronics for maintenance, repair and troubleshooting purposes. Major players are focused on developing portable oscilloscopes with enhanced features like touch screen interfaces, data storage memory, Wi-Fi connectivity for easy sharing of waveforms and remote control capabilities. This rising demand for portable oscilloscopes is expected to drive market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: Low capital requirements and access to components limits threat. Bargaining power of buyers: Large buyers can negotiate lower prices and demand additional services. Bargaining power of suppliers: Suppliers have high dependency on major players limiting their bargaining power. Threat of new substitutes: Substitution threat is moderate as the segment is established with differentiated products. Competitive rivalry: Intense competition among leading vendors on pricing and technology differentiation.

Key Takeaways

The Global Oscilloscope Market Demand is expected to witness high growth. Regional analysis related content comprises Asia Pacific dominating the market currently with countries like China, Japan, and South Korea being the major contributors. Growth in this region is attributed to expanding electronics manufacturing industry.

Regional analysis related content comprises Europe also capturing significant market share owing to presence of major players in countries like Germany, UK, and France. Rising adoption across industries like automotive, telecommunication is fueling demand.

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. Tektronix Inc. is one of the leading providers with wide range of oscilloscope products.

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