Pune, India, May 30, 2019 (GLOBE NEWSWIRE) -- Market Research Future (MRFR) in their latest report on the global oscilloscope market claims a significant rise is on the cards for the market. Technological upgradation to set the global oscilloscope market with an 8.12% CAGR on a path of scaling a valuation of USD 2 billion during the forecast period (2018-2023).
Connecting human expertise with technical data is one important part of that is proving beneficial for engineers across sectors. One such device is an oscilloscope which interprets varying signal voltages from devices in a graphical format for better understanding of the state of various conditions. It can also convert other signals like sound and vibration to voltage and then display. Using the knowledge of amplitude, time interval, rise time, distortion, frequency, and others, these signals can be interpreted. With the advent of digital oscilloscopes, analysis of data has become easier and accurate.
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Increased Demand from Defense to Guide Oscilloscope Market Ahead
In the defense sector, several readings of various equipment require accurate translation for better planning of countermeasures. In aviation and marine, oscilloscope’s application is quite widespread. Governments, across the globe, also shows signs of strong initiatives as these kinds of applications are quite needed for safeguarding of the nation. This is expected to influence the oscilloscope market quite substantially.
Other Industries to Join the Bandwagon
The market has widespread application in several other industries such as IT & telecommunication, healthcare, automotive, and consumer electronics. All the mentioned segments are experiencing a huge traction owing to the continuous upgrades in technology.
The Oscilloscope Market is more bent on making its operational scope safe and the design simple which is driving several industries such as automotive industry. Opportunities like these should be well-counted while making an assessment of the market.
Segmental Analysis
MRFR’s detailed report on the oscilloscope market has four segmentations component, device type, probe type, and end-user.
Component-wise segmentation of the oscilloscope market includes device & probe and software. The device & probe segment is expected to take a leap from its USD 813.67 million worth of 2017 and register robust growth in the coming years.
Device-wise segmentation of the oscilloscope market comprises digital oscilloscope, analog oscilloscope and PC-based. The digital oscilloscope segment holds within digital phosphor oscilloscope, digital storage oscilloscope digital sampling oscilloscope and others. It is also the largest market with a market prediction of USD 1100 million worth by the end of 2023.
Type-based segmentation of the oscilloscope market consists current probes, active oscilloscope and passive oscilloscope with the passive oscilloscope segment leading the way with possibility of attaining a robust growth during the forecast period.
Based on the end-user, the oscilloscope market has IT & telecommunication, healthcare, consumer electronics, aerospace & defense, automotive and others. Among these, the consumer electronics segment had the 1/3rd of market share as of 2017.
Mapping Territories
North America, Europe, Asia Pacific (APAC), Latin America and the Middle East & Africa (MEA) are regions covered by the global oscilloscope market report published by MRFR. The market is gaining traction due to high technological integration and rise in population. These two are getting bolstered by surge in disposable income which has made access to advanced technologies easier.
The APAC to Emerge as Lucrative
The regional market is expected to grow with substantial speed owing to the emerging economies showing huge prospects by revamping the industrial scenario. This is boosting the claim for a market expansion for the oscilloscope industry as technological integration has become easier in such a setup. India and China, with their massive population are easing the process further.
North America is Following the Lead
The region has all the essential backups and industrial superiority for easy implementation of oscilloscopes in industries spanning across sectors. Its market value of USD 279.77 million could rise further during the forecast period with 7.54% CAGR during the forecast period.
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Head-to-Head
Companies such as Nation Instruments, Rohde & Schwarz, Keysight Technologies, Inc., Pico technology Ltd. Fluke Corporation, Texas Instruments Incorporated, TEKTRONIX, INC., Teledyne LeCroy, Yokogawa Electric Corporation, and RIGOL Technologies Inc. are inspiring a new wave in the oscilloscope market with their strategic implementations that would also assist the global market in exploring uncharted territories.
Industry Buzz
In May 2019, Rohde & Schwarz planned to launch their new oscilloscopes R&S RTM3000 and R&S RTA4000 with a special focus on power electronics. Among its special features electromagnetic interference debugging and analysis of switching events can be considered noteworthy which can give the brand substantial market coverage.
In March 2019, Anritsu introduced for its BERTWave MP2110A a four-channel sampling oscilloscope option which would help in assisting functioning of direct attach cables (DAC), active optical cables (AOCs), and other high-speed optical devices used in 4G/5G mobile backhaul, core/metro networks, data centers, and 5G mobile fronthaul.
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