Digital Multimeter Market Size, Share, Trends, Growth & Forecast to 2019-2024

Global Digital Multimeter Market Research Report and Forecast 2024

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Global Digital Multimeter Market Overview: As per the latest report by IMARC Group, titled “Digital Multimeter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the global digital multimeter market size is expanding at a steady rate. Digital multimeters (DMMs) are testing tools used for measuring two or more electrical values such as voltage (volts), current (amperes) and resistance (ohms). They perform tests on the operation of diodes, transistors, or electrical continuity. In addition to this, they are portable, and their digital or liquid crystal display (LCD) have no moving parts, thereby making them free from wear and shock failures. DMMs are rapidly replacing analog meters due to their ability to measure different parameters with greater accuracy, reliability and improved impedance. As a result, they are widely utilized for troubleshooting various electrical issues in industrial as well as domestic devices, such as motor controls, power supplies and wiring systems.

Global Digital Multimeter Market Trends: Rapid industrialization, in confluence with the burgeoning electronics industry, represents one of the significant factors propelling the growth of the digital multimeter market. The boosting sales of electronic devices across different industry verticals has positively influenced the demand for these devices among professionals.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

in Billion US$

Report Description

180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Furthermore, on account of their cost-effectiveness and multi-functionality, DMMs are increasingly being preferred over voltmeters and ohmmeters. Besides this, the increasing trend of digitalization is also strengthening the market growth. Looking forward, the market is anticipated to grow at a CAGR of around 4% during 2019-2024.

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Apart from this, owing to the various technological advancements in the production process, manufacturers are incorporating other measuring instruments, such as insulation testers and infrared thermometers in DMMs. Other features, including dielectric absorption, polarization index and earthbond resistance are also being included in these devices to offer improved efficiency and user-friendly experience.

Key Market Segmentation: Market Segmentation by Product Type • • • •

Handheld Bench-Top Mounted Others

Based on the product type, the market has been classified into handheld, bench-top, mounted and others.

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Report Description Market Segmentation by Region • • • • •

North America Europe Asia Pacific Middle East and Africa Latin America

Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Market Segmentation by End Use Industry • • • • •

Automotive Manufacturing Energy Utility Others

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The market has been analyzed on the basis of the end use industry into automotive, manufacturing, energy, utility and others.

Market Segmentation by Functionality • • • •

Auto Ranging Clamp Digital Fluke Digital Others

On the basis of the functionality, the market has been segregated into auto ranging, clamp digital, fluke digital and others.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

•

Agilent Technologies

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Report Description • • • • • • • • • • • • •

Anritsu Danaher Rohde & Schwarz Tektronix Adlink Technology Aeroflex Ametek Giga-tronics National Instruments Rigol Technologies Teledyne LeCroy Teradyne Yokagawa Electric

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