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 that allows observation of changing voltage levels over time. Oscilloscopes are commonly used to diagnose problems in electronic devices. Different types of oscilloscopes such as digital oscilloscope and analog oscilloscope help in measuring voltage changes as electronic circuits carry out their functions. Oscilloscopes are vital diagnostic instruments for viewing electronic circuit waveforms. Their uses range from viewing simple pulse waveforms to debugging complex digital and RF circuit design issues.
Market key trends:
One of the key trends in the oscilloscope market is the growing adoption of digital storage oscilloscopes. Digital storage oscilloscopes provide advantages over traditional analog oscilloscopes such as high bandwidth, high sampling rate, waveform storage and analysis capabilities. They allow capturing signals even when they occur intermittently or for a very short duration. Furthermore, the growing semiconductor industry is fueling the demand for oscilloscopes. Semiconductor manufacturing companies use oscilloscopes for component testing, IC design validation and wafer sorting. Rapid advancements in consumer electronics and expansion of 5G networks are further propelling the growth of the oscilloscope market.
Porter’s Analysis
Threat of new entrants: The oscilloscope market requires high R&D investment and industry knowledge which creates entry barriers for new players.
Bargaining power of buyers: Large buyers such as manufacturing companies have moderate bargaining power due to availability of multiple brands but product differentiation limits switching.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute components and intense competition among suppliers.
Threat of new substitutes: Threat of new substitutes is low as oscilloscopes provide unique functionality for analyzing electronic signals.
Competitive rivalry: The oscilloscope market is highly competitive with focus on product innovation, pricing and brand loyalty.
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 electronic testing and measurement equipment from industries such as electronics, automotive, healthcare among others.
The Asia Pacific region is expected to dominate the oscilloscope market during the forecast period. This is attributed to strong presence of key players manufacturing oscilloscopes and associated components in countries such as China and Japan. Countries like India are also contributing to region’s market growth with increasing electronics manufacturing.
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. The oscilloscope market is characterized by consolidation with these key players introducing innovative products to gain competitive edge.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
