The oscilloscope market is expected to grow at a compound annual growth rate of 4.85% over the forecast period to reach a market size of US$2,129.979 million in 2026 from US$1,603.339 million in 2020.
Oscilloscope refers to the current measuring device. Oscilloscopes are indispensable to electronics engineers and industry for research and development, manufacturing, and monitoring. Overall, the oscilloscopes are beneficial for the medical industry to monitor the patient’s condition by tracking the heartbeat. Sound engineers monitor vibrations in engines and computer design for knowing the processor condition and checking its speed and frequency. The automobiles continue to add more electronic features to enhance the driving experience by undertaking experiments and research and developments and monitoring its feasibility by the oscilloscope. The demand for the oscilloscope is primarily dependent upon electronics by the companies with an eye for details on product design, safety, density. Research and Development teams in electronics firms specializing in automotive, healthcare, and electronics opening up potential markets within the industry. The scopes being of different categories have different applications, for instance, digital oscilloscope has users in consumer electronics, manufacturing, and precision engineering. The digital oscilloscope technology is a competitor to that of the analog in the same segment as it possesses the ability to provide graphical visualizations of the electric current efficiently.
The Oscilloscope market is segmented based on type as Digital Storage, Digital Phosphor, Mixed Signal, Digital Sampling, By Capacity as High, Medium, Low based upon the current-voltage, By Applications as Consumer Electronics, Automobiles, Industrial, Aviation, Healthcare, and Medical, Others.
Under the COVID-19 pandemic, though the overall electronics market segment has been in decline, and the research and development in electronic products have been on a halt as the raw materials, workforce, liquidity for funding research projects have been low. However, the demand for healthcare electronics such as sphygmomanometer, blood-sugar monitor, thermometer, and pulse oximeter has been in momentum in which oscilloscope is used for monitoring and operability purposes. For instance, in August 2020, Digi Key Electronics has rolled a low-cost blood oxygen measuring device for monitoring the health of patients under the home quarantine facility. For critical patients, ventilators have been vital machines. In May 2020, NVIDIA has developed low-cost ventilators and has kept its design in the public forums as open-source to be used by the companies for meeting the crunch of the ventilator machines. With such developments, the market for oscilloscopes also increases.
Growth of Electronics in the Healthcare Industry
The growth of the oscilloscopes market is dependent on the medical industry as the health care workers require oscilloscopes to transform patient's heartbeat to electronic waves format for easy representation and diagnosing the patient’s health. The transformation in the medical, fitness, and healthcare space, along with other wearable health monitoring technology has been revolutionizing the industry. The current healthcare trend has been dynamic and challenging. The devices which once used to be available in the hospitals are now available at home for quick monitoring. With these trends, the healthcare electronic industry participants have been involved in innovating the devices.
For instance, in January 2020 at the start of the pandemic, Omron Healthcare has rolled out its Heart Guide wearable to monitor blood pressure using oscillometer technology. The wearable has been recognized by the FDA as medical-grade wearable. The wearable supports the mobile application Omron Connect 2.0 for pairing with the monitor. Similarly, the other device is named Med Wand, which is a hand-held device that has multiple diagnostics tools for evaluating heart, lungs, blood oxygen, nose, throat, and others. The device is capable of both home, clinic, and hospital applications. The oscilloscopes are also used in breath analyzers such as Aidar Health’s Mouth Lab. which is an amped-up breath analyzer. Companies are having advanced oscilloscopes such as Add care Ltd.’s Glutrac, which is also a wearable having non-invasive blood glucose technology, the device is competent to check for absorption, spectroscopy, electrocardiography, photoelectric plethysmography, and dynamic metabolic heat monitoring. Also, In August 2020, Tektronix has developed a new digital storage oscilloscope that is economical in terms of money and enhanced features. The use of oscilloscope as a primary device to show results in healthcare electronics is expected to increase the demand in the long term.
Growth of Electronics in the Automobile Industry
As the automobile industry gets modernized, the demand for advanced tools and equipment for checking performance increases. Since the oscilloscopes are being used extensively for performance check the demand for the same increases. There are many advancements in the automotive oscillometer industry. For instance, in August 2020, Yokogawa launched an advanced mixed-signal oscilloscope. The company has focused upon power-semiconductor technology, mechatronics, power electronics, and automotive for ascertaining its utility and applications. In September 2020, OWON leading oscilloscope manufacturer in China has launched its digital oscilloscope used for automobile maintenance and after-sale services. There are oscilloscopes products in the market such as Siglent’s handheld device, Sain Smart digital oscilloscopes, All-Sun 3 in one, Autel Maxim’s Diagnostic tool, and many others primarily focused on checking the performance of the automobile. Companies such as Pico Technology have manufactured all vehicle, all-terrain oscilloscopic technology-driven kits for diagnosing power and drive systems of electric vehicles. In November 2020, The Pico launched the Oscilloscope 4425A kit which enables the retail and industrial users to perform diagnostics on different types of electric vehicle components such as DC power system or AC motor/generator drive system, charging behavior, and current distribution of 12V/HV batteries, communications between the charging system and the vehicle, three-phase current measurements to check the balance of windings under load, 12V and 48V systems. Such technological advancements in the field of automobile oscilloscope make it an indispensable part of the automobile engineering industry.
The emerging economies such as India, China, Japan, South Korea, and Taiwan are vital contributors to the oscilloscope machinery market as the growth is attributed to the electronic industry with a large production of oscilloscopes at competitive prices across the Asia-Pacific region. The developed nations act as the major importer of oscilloscopes as it offers favorable prices for the quality machines. The big automobile, healthcare, and electronic giants conglomerate outsource and procures the oscilloscopes by making a direct investment in the production facility in the Asia-Pacific region. North American nations such as the United States, Canada have demand for the Oscilloscope attributed to the heavy investments in the research and developments.
|Market size value in 2020||US$1,603.339 million|
|Market size value in 2026||US$2,129.979 million|
|Growth Rate||CAGR of 4.85% from 2020 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Applications, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Agilent Technologies Inc, Tektronix Inc., Fluke Corp, BK Precision, Digimess Instruments, Rohde & Schwarz GmbH & CoKG, Texas Instruments Incorporated, GW Instek, Hantek, Keysight Technologies|
|Customization scope||Free report customization with purchase|
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