- Summary
- Table Of Content
- Methodology
Oscilloscope Market Size :
Oscilloscope Market size is estimated to reach over USD 3,231.21 Million by 2030 from a value of USD 2,297.51 Million in 2022, growing at a CAGR of 4.60% from 2023 to 2030.
Oscilloscope Market Scope & Overview:
Oscilloscope is a test instrument or device that focuses on electrical signal generated by the source and displays it on the monitor. It has an important role in varied industries for numerous applications including validation, troubleshooting, characterization, technologies, and manufacturing. Moreover, it is also known as a critical test instrument for analyzing, observing, and recording the behavior of an electrical signal.
Moreover, these devices are tailored with specific software for applications including data logging, remote control, and automated testing. Furthermore, they have wide applicability in sectors including automotive, aerospace & defense, healthcare, and others.
Oscilloscope Market Insights :
Oscilloscope Market Dynamics - (DRO) :
Key Drivers :
Increasing oscilloscope market demand in healthcare sector is driving the market
Oscilloscope is an advanced electronic machine employed in the field of healthcare having varied applications including medicine, research, data analysis, power analysis, and among others. The utilization of this system in healthcare sector is primarily for monitoring of patient's health i.e., brain and heartbeat waves. The data is presented in the form of graphical representation that monitors electrical activity of the heart. Moreover, based on the oscilloscope market analysis, laboratory and medical technicians utilize this system for various diagnostic approaches.
Furthermore, physics and research scientists employes the system to examine the variations of electrical signals irrespective of interference caused by other electronic devices such as television and cell phones signals. In addition, physicist uses the system to represent microscope electrical signals in a large form for better understanding.
For instance, Fluke, a biomedical based company has introduced 190M series 3 medical scope meter portable oscilloscope allows to connect and view complex waveforms for further medical examination.
Therefore, owing to trends in medical complications including neurological diseases and increase in number of geriatric populations has been driving the oscilloscope market growth.
Growing application in various end use industries is driving the market
Oscilloscope has various other applications in sectors including research and development, telecommunication, electronics repairs, automotive, and others. In research and development sector, the system is used during prototyping and designing of electronic and electrical devices. As per the analysis, it helps manufacturers to understand input and output data related to various characteristics of design thus allowing them to manufacture the final product with more precision.
In addition, in telecommunication industry, the system is used to analyze different types of communication signals. It is operating at different bandwidth (GHz) allows analysts to analyze television, radio, and microwave signals with the help of special probes. Accordingly, owing to the growing demand for better network connectivity and rising trend for fast internet services tend to boost the market.
Moreover, the system is also employed for electronic repair work, thus helping in troubleshooting and repairing defective electronic devices. They are designed to detect defective components of electronic devices by understanding the standard values of input and output values of circuits. Therefore, as per the analysis, owing to the aforementioned factors including understanding the electrical signals of input and output emitted by electrical and electronic devices among industries such as telecommunication, electrical, automotive and others is driving the market.
Key Restraints :
Operational limitations associated with oscilloscope is hindering the market
It is categorized into analog and digital, however both types have certain limitations associated with their operations. Analog oscilloscope mainly uses cathode ray tube (CRT) display to represent electrical signals in waveform. However, this system has its own limitations including limited bandwidth, lack of numerical data, lack of data storage capacity, and obsolescence, among others. Moreover, CRT has certain limitations including high cost of operation in comparison to alternate devices such as multimeters. Also, CRT is more complex in design and requires high skilled labor for its repair. Furthermore, limitations including high usage of power for operation and the requirement of isolated location for their placement are hindering the market.
Future Opportunities :
Rising adoption of 5G network connectivity is projected to drive the market
The adoption of 5G network connectivity is creating lucrative oscilloscope market opportunities and trends in the coming years. 5G network connectivity is among the latest wireless network connectivity that allows faster network connection among wireless devices including smartphones, routers, television, among others. According to 5G Americas, there has been an increase in 5G connections by 76% annually and is accounted to have reached 1.05 billion connections. Moreover, it is estimated that the number of 5G connections will reach 1.9 billion by end of the year 2023.
Moreover, 5G network is expected to operate at higher bandwidth of 20GHz to 100GHz frequency range. Therefore, in order to operate at such higher bandwidth, devices associated with broadcasting are constantly required to operate properly. These systems will therefore be able to analyze high-frequency signals emitted in microwave or millimeter wave range. Therefore, owing to the rising demand for efficient network connectivity, is creating future oscilloscope market trends and opportunities in the coming years.
Global Oscilloscope Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 3,231.21 Million |
| CAGR (2023-2030) | 4.60% |
| By Type | Analog and Digital |
| By Component | Hardware and Software |
| By End User | Engineering, Medical & Life Sciences, Consumer Electronics, IT & Telecommunication, Electrical & Electronics, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | Agilent Technologies Inc., Keysight Technologies, Teledyne LeCroy Inc., Rohde & Schwarz GmbH & Co. KG, National Instruments Corp., ZTEC Instruments, RIGOL Technologies, Yokogawa Electric Corp., Fluke Corp., Tektronix, Inc., Keysight Technologies Inc., Pico technology Ltd., Good Will Instrument Co., Ltd., BK Precision, Digimess Instruments, Hantek, and Texas Instruments Inc. |
| Geographies Covered | |
| North America | U.S. Canada Mexico |
| Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
| APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
| Middle East and Africa | GCC Turkey South Africa Rest of MEA |
| LATAM | Brazil Argentina Chile Rest of LATAM |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, Cost Analysis, and Regional Trends & Forecast |
Oscilloscope Market Segmental Analysis :
By Type :
Based on the type, the market is bifurcated into analog and digital. The digital segment is accounted for the largest revenue share in the year 2022. A digital oscilloscope is equipped with advanced features including waveform storage, signal analysis, and automatic measurement, among others. In addition, these systems are more precise and provide more accurate measurements. The availability of analog-to-digital converters (ADCs) provide high resolution signals thus allowing analysts to perform accurate waveform analysis.
Moreover, the system has internal or external memory and storage capabilities that allows users to analyze, read, and retrieve data at later stage of period. For instance, Scientific Mes-Technik Pvt. Ltd. has launched SMO502, 50MHz- 2 channel digital storage oscilloscope has real time sampling capacity of max 500 MSa/s coupled with 32 kpts memory depth.
Furthermore, digital oscilloscope segment is also anticipated to grow at the fastest growth rate during the forecast period. The trend factors are attributed to increasing demand for digital devices that are able to operate more efficiently and precisely for complex task.
By Component :
Based on the component, the market is segmented into hardware and software. Hardware segment is accounted to generate largest market share in the year 2022. Hardware is the important components that fulfill the design and various applicational requirements necessary for industries. Moreover, hardware is the device that operates depending on the requirements and functions according to the specific needs of the sector. For instance, Good Will Instrument Co., Ltd. has various series of these systems that are designed to fulfill the requirements of industry standards. GDS-3000A series digital storage oscilloscopes feature 650MHz /350MHz bandwidth, 2 input channels containing 200Mpts memory depth for per channel. In addition, device contains a dual channel spectrum analyzer (DC~2.5GHz) with spectrogram and dual channel 25MHz arbitrary waveform generator.
Furthermore, software segment is anticipated to grow at the fastest growth rate during the forecast period. Owing to factor including growing requirement for faster processing rate for input and output signals is projected to drive the market of the segment during the forecast period. For instance, Keysight Technologies is offering PathWave BenchVue oscilloscope software being utilized for automated testing, data logging, and remote control applications.
By End-User :
Based on the end user, the market is segmented into engineering, medical & life sciences, consumer electronics, IT & telecommunication, electrical & electronics, and others. IT & telecommunication segment is accounted to generate largest oscilloscope market share of 28.4% in the year 2022. The key factors attributed to the trends of the segment owing to rising demand to boost telecommunication infrastructure and provide proper network connectivity in the area. Furthermore, the segment is also expected to grow at the fastest growth rate during the forecast period. Owing to rising adoption of 5G connectivity across the globe and demand for robust telecommunication infrastructure to be used in various industries including healthcare, automotive, among others tends to drive the market expansion during the forecast period.
By Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America is accounted for the largest revenue share of USD 796.09 Million in 2022 and is expected to reach USD 1,121.23 Million by 2030. In addition, in the region, the U.S. accounted for the maximum revenue share of 64.6% in the same year. The adoption of the system in North American region is primarily driven by factors including presence of leading manufacturers such as Good Will Instrument Co., Ltd., Texas Instruments Inc., Teledyne LeCroy Inc., among others. Moreover, deep penetration of 5G network connectivity in the region that accounted for 133 million 5G connections and 503 million LTE connections in Q1 2023 has been boosting the demand for this system in the telecommunication sector (Source- 5G Americas). Thus, the aforementioned factors are creating lucrative trends for the development of the market.
Moreover, Asia-Pacific is expected to register fastest CAGR growth of 4.9% during the forecast period. Factors attributable to the trends of the region during the forecast period are due to faster rate of growth among sectors including telecommunication, education, healthcare, among others. Moreover, with the motive of improving IT & telecommunication infrastructure by Southeast Asian countries including India, Vietnam, Singapore, among others will promote the growth of 5G services which will ultimately drive the need for this system.
For instance, Reliance Jio Infocomm Limited has announced the rollout of 5G, 26 GHz, millimetre wave band on 14th August 2023 with an investment of USD 25 billion. Accordingly with the growing demand for improving infrastructure of telecommunication which will support rest of the sectors in developing nations will promote market growth and trends during the forecast period.
Top Key Players & Market Share Insights:
The global oscilloscope market is highly competitive with major players providing the system to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end user launches to hold a strong position in oscilloscope market. Key players in the oscilloscope industry include-
- Agilent Technologies Inc.
- Keysight Technologies
- Pico technology Ltd.
- Good Will Instrument Co., Ltd.
- BK Precision
- Digimess Instruments
- Hantek
- Texas Instruments Inc.
- Teledyne LeCroy Inc.
- Rohde & Schwarz GmbH & Co. KG
- National Instruments Corp.
- ZTEC Instruments
- RIGOL Technologies
- Yokogawa Electric Corp.
- Fluke Corp.
- Tektronix, Inc.
- Keysight Technologies Inc.
Recent Industry Developments :
- In January 2023, SIGLENT Technologies launched SDS6000L series low profile oscilloscope. The product is one of its first 8-channel low profile oscilloscope.
- In May 2023, Tektronix Inc. released double pulse test solution based on Sic & GaN technologies that will provide repeatable, automated, and accurate measurements.
Key Questions Answered in the Report
What is Oscilloscope? +
Oscilloscope is a test instrument or device that focuses on electrical signal generated by the source and displays it on the monitor. Oscilloscope has an important role in varied industries for numerous applications including validation, troubleshooting, characterization, technologies, and manufacturing.
What specific segmentation details are covered in the oscilloscope report, and how is the dominating segment impacting the market growth? +
For instance, by type segment has witnessed digital oscilloscope as the dominating segment in the year 2022, owing to its increasing demand from industries including automotive, telecommunication, and others.
What specific segmentation details are covered in the oscilloscope market report, and how is the fastest segment anticipated to impact the market growth? +
For instance, by end user segment has witnessed IT & telecommunication segment to grow at the fastest growth rate during the forecast period. The rising demand for improved telecommunication infrastructure is expected to boost the market growth during the forecast period.
Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030? +
Asia-Pacific is anticipated to register fastest CAGR growth of 4.9% during the forecast period due to rapid pace of industrialization and demand for improved economic infrastructure.
