The 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:
Oscilloscopes are electronic test instruments that allow observation of constantly varying signal voltages, usually as a two-dimensional plot of one or more signals’ voltage over time. They are used to observe and analyze the waveforms of electronic signals in communications, computer design, diagnostic instrumentation and research fields. With technological advancements and growing demand for portable devices, oscilloscope manufacturers are focusing on launching advanced oscilloscopes with high bandwidth and sampling rates, along with Wi-Fi and Bluetooth connectivity for wireless data transfer.
Market Dynamics:
The growing adoption of advanced technologies such as 5G, IoT, AI and automation across various industries is fueling the demand for high-speed communication components and electronic equipment, which is driving the oscilloscope market growth. For instance, according to Ericsson Mobility Report, 5G mobile subscriptions are projected to reach 3.5 billion by the end of 2026 or around 40% of total mobile subscriptions. Moreover, the miniaturization of electronic devices is raising the need for compact and portable oscilloscopes with high resolution and precision. Major manufacturers are extensively investing in R&D activities to introduce oscilloscopes integrated with advanced features such as touchscreen capability, extended memory depth, USB connectivity and advanced analysis software for enhanced usability. For example, in April 2022, Teledyne LeCroy launched the WaveSurfer 4000 X-Series oscilloscopes with up to 4 GHz bandwidth and advanced triggering capabilities for debug of complex designs. These factors are expected to fuel the demand for oscilloscopes over the forecast period.
Segment Analysis
The oscilloscope market can be segmented based on type into digital oscilloscope and analog oscilloscope. Among these, the digital oscilloscope segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. Digitization has improved the functionality of oscilloscopes and features like improved bandwidth, memory depth and higher sampling rate make digital oscilloscopes more popular. They provide better resolution, more storage of waveforms and advanced triggering options.
PEST Analysis
Political: Government regulations regarding product safety and electromagnetic compatibility ensure quality standards in oscilloscope manufacturing.
Economic: Rising demand from industries like electronics, automotive and healthcare is fueling market growth. However, global economic uncertainties could impact industries and hence oscilloscope demand.
Social: Growing preference for digitized products is driving adoption of digital oscilloscopes. Their real-time waveform visualization helps in equipment troubleshooting and research.
Technological: Advancements in ADCs, processors and memory are enabling high-speed oscilloscopes with features like faster sampling, deeper memory and improved analysis software. Connectivity technologies also integrate scopes in IoT networks.
Key Takeaways
Global Oscilloscope Market Size is expected to witness high growth, exhibiting a CAGR of 5.1% over the forecast period, due to increasing demand from industries for equipment testing and research activities.
The Asia Pacific region dominated the market in 2022 and is expected to witness the fastest growth during the forecast period. High industrialization and manufacturing activities in countries like China and India are driving oscilloscope adoption.
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. Leading players are focusing on product launches and enhancing their global footprint through strategic partnerships and collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it