Factors such as incessant growth of end user verticals such as automotive and electronics is fueling the demand for oscilloscope. Moreover, increasing efforts to develop designs that are safer as well as more advanced is creating market opportunities.

Market Research Future (MRFR), in its current “Oscilloscope Market” report, states that due to the advent of digital oscilloscope, an increase in the scope of application of oscilloscopes has been observed. It is expected to cause the worldwide oscilloscope market to thrive at 8.12% CAGR across the review period (2018 to 2023). MRFR study states that the oscilloscope market can exceed a valuation of USD 2 Billion by 2023. A high traction for digital oscilloscopes in the electronics and automotive industries is observed that is expected to impel the expansion of the oscilloscope market in the foreseeable future. Companies are making deliberate efforts to launch new designs that are more reliable and safer. It is also expected to boost the oscilloscope market across the forecast period.

Also Read: www.marketwatch.com/press-release/oscilloscope-market-size-share-growth-challenges-and-investment-opportunities-covid-19-analysis-of-oscilloscope-market-2020-06-03

Regional Outlook/

The regions covered in the region include North America, Europe, Asia Pacific (APAC), Latin America and the Middle East & Africa (MEA). Among these, APAC is the most lucrative market for oscilloscope. In terms of value, the region commanded for a significant share of the market in 2018 and the trend is likely to continue throughout the assessment period. The market’s growth can be attributed to the rapid industrialization in various APAC countries.

North America is the second largest market for oscilloscope. In 2017, the North America oscilloscope market was valued at USD 279.77 Million. The market in North America is expected to witness a CAGR of 7.54% during the projection period. A strong presence of telecommunication network providers, test and measurement companies, automotive companies, and manufacturing plants In the U.S. Canada and Mexico is supporting the growth of the market in North America.

Segmental Analysis

This oscilloscope industry segmental analysis is based on probe type, device type, component, and end-user.

The component-based segment are software and device & probe. The devices and probes segment is expected to expand at a high CAGR across the forecast period. The segment is expected to exceed a valuation of USD 813.67 million by 2023. The easy availability of device and probes hardware components is expected to spur the oscilloscope market. Oscilloscope devices offers high degree of accuracy in the analysis of analog waveforms. Probes effectively amplify signals, ensures greater signal integrity, and aids in easy access to power, thereby offering better performance. This is expected to impel the oscilloscope market growth.