OSCILLOSCOPE MARKET ANALYSIS

The global Oscilloscope market size was valued at US$ 2,198.9 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030.  The market is driven by the increasing demand for test and measurement equipment in different industries. Moreover, the growing trend of electronic manufacturing and assembly is also contributing to the growth of this market. Moreover, the increasing demand for high-accuracy and precision instruments is boosting the sales of digital oscilloscopes. The demand for portable and hand-held digital oscilloscopes is also expected to increase.

Global Oscilloscope Market: Regional Insights

North America among regions is expected to gain a major share in the global oscilloscope market over the forecast period. This can be attributed to increasing technological development in the oscilloscope technology for various applications such as phones and internet connections in the region. Moreover, several companies across the region are introducing novel and innovative products to cater the growing demand for oscilloscopes in the region. For instance, in June 2022, Tektronix introduced 2 Series Mixed Signal Oscilloscope (MSO), which can be used for different applications from bench to the field and back, to enable new workflows. Thus, these factors are driving growth of the market in North America region.

Asia Pacific is also anticipated to show substantial growth in the global oscilloscope market during the forecast period, owing to rise in demand and applications for oscilloscope in the region. Along with this, market players in the region are focused on collaboration among each other. For instance, in August 2022, Advantest Corp. collaborated with the Rohde & Schwarz RTP high-performance oscilloscope for mass production evaluation of high-speed SoC testers. Moreover, increasing demand for mobile networks is also driving the growth of the market across Asia Pacific region.

Figure 1: Global Oscilloscope Market Share (%), in terms of Value, By Region, 2022

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Global Oscilloscope Market Drivers:

Growing demand for accuracy and speed in designing, manufacturing, or repairing industries to drive the market growth

The adoption of oscilloscopes is increasing all over the world, due to increasing demand for higher accuracy, increasing need for safety applications, and the necessity of rapid data transmission. Moreover, the consumer demand for specification such as bandwidth, memory depth, and sample rate is also increasing, which in turn drives the adoption of oscilloscopes. There is an increase in the range of waveform testing performed by engineers, which is also driving the growth of the oscilloscopes. The need for higher bandwidths and sampling speeds is increasing among engineers along with more channels, and deeper capture memories for sustaining maximum sampling performance for longer test durations. This in turn is expected to drive growth of the global oscilloscope market over the forecast period.

Various advantages of oscilloscope to augment the market pace

The advanced user interface, signal fidelity, acquisition rate, and innovative trigger system of oscilloscope drives its adoption. Innovation in the wireless sensor also drive the adoption of advanced oscilloscope. The demand for signal storage and self-monitored facilities, growing intelligence of electronic devices are the factors driving the need for oscilloscopes in general purpose test market, rising bandwidth, modular instrumentation, and improvements in user interface are expected to augment growth of the global oscilloscope market over the forecast period.

Global Oscilloscope Market Opportunities:

Increasing growth of medical and diagnostic laboratory sectors is bringing multiple opportunities in the global oscilloscope market. Vendors in the market are increasingly investing in the manufacturing of oscilloscopes as, they are used widely in the medical field for various applications, such as Power analysis, Serial data analysis, in the diagnostic approaches, and research field. This is further expected to create several growth opportunities in the market over the forecast period.

Furthermore, increasing demand from electronic and engineers in construction and maintenance of smart homes is anticipated to create ample of growth opportunities in the global oscilloscope market over the forecast period. Different types of digital oscilloscopes handle the design of different equipment, measurement of electric resistance, including faults in transmission cables, cable connectors, and microstrips on a circuit board. These digital storage oscilloscopes are used heavily by several electronic and electrical engineers involved in construction and maintenance of smart houses. Thus, this in turn is likely to bring several growth opportunities for vendors in the global oscilloscope market over the forecast period.

Global Oscilloscope Market Trends:

Increasing launch of novel technologies and ongoing technological development of electronic devices is a growing trend

The electronic devices are increasingly becoming popular due to the launch of more advanced technologies and the ongoing development of these technologies. The testing equipment market is growing considerably as digital components and radio frequency is becoming more prevalent in electronic gadgets, and growing use of advanced measurement tools. This in turn is expected to drive demand for oscilloscope in the coming future, due to which manufacturers will adopt more technologies for maintaining their development in the market. Thus, this trend is expected to drive growth of the global oscilloscope market in the forecast period.

Market players are focusing on creating next-generation oscilloscopes and software components

Market players in the global oscilloscope market are increasingly focusing on development of novel next-generation oscilloscopes to strengthen their position in the market. This trend is expected to boost growth of the market in the coming future. For instance, in February 2022, Tektronix announced the availability of its SignalVu 5G NR analysis software for 6Series B MSO oscilloscopes, which enables user to characterize novel electronic designs and perform important 5G NR measurements on the oscilloscopes by 3GPP specifications.

Global Oscilloscope Market Restraints:

High cost of maintenance to hinder the market growth

Oscilloscopes cost a lot due to the parts used to make them are costly. The components such as transistors, tubes, and capacitors used in oscilloscopes are known to be expensive. Along with this, the maintenance of oscilloscope can also add into the overall cost these devices. Calling a technician for maintenance of these devices can cost US$ 75 to US$ 100 per hour. An Oscilloscope can cost up to US$500 or more, if a significant upgrade is required. Thus, deploying oscilloscopes can be costly, which is thus expected to hinder growth of the global oscilloscope market over the forecast period.

Lack of ease of use of oscilloscope to impede the market pace

Manufacturer constantly improving their R&D capabilities for producing advanced technologies, which is done by integration of AI and IoT into development of sophisticated oscilloscopes. However, due to the inability of oscilloscopes to keep up technological advancements, users in different industries such as smart home appliances, educational institutions encounter difficulties to migrate from analog to digital and mixed-signal oscilloscopes. Moreover, due to their lack of ease of use of these devices is thus expected to hinder adoption of oscilloscope. However, market players are now developing products with advanced features and ease of use, which in turn is expected to support the market growth.      

Figure 2: Global Oscilloscope Market Share (%), in terms of Value, By Component, 2022

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Global Oscilloscope Market Segmentation:

The global Oscilloscope market report is segmented into Component, Type, and End-User Industry.

Based on Component, the market is segmented into Hardware, Software. Out of which, Hardware is expected to dominate the global market over the forecast period and this is attributed to the increasing technological advancements in oscilloscopes, increasing use of these devices across several countries worldwide, and growing design, manufacturing, and repairing industries driving the demand for oscilloscopes. These are a laboratory instrument used commonly for displaying and analyzing the waveform of electronic signals.

Software segment is also expected to witness significant growth in the near future and this is owing to the rise in need for software oscilloscopes as the digital storage oscilloscopes can store as well as analyze the input signal digitally. Thus, the need for software oscilloscopes is increasing among several applications, which in turn is driving the growth of this segment.

Based on Type, the market is segmented into Analogue, Digital, and PC-based. Out of which, Analog is expected to dominate the global market over the forecast period and this is attributed to the persistent demand for analog oscilloscopes in institutional sector. Due to increasing demand for analog, the growth for MSO and DSO is increasing. This trend is likely to continue in the market in the coming future.

Digital segment is also expected to witness significant growth in the near future and this is owing to the increasing adoption of digital storage oscilloscopes in various industries. For instance, in March 2022, Ministry of Defense of India announced a tender for a digital storage oscilloscope for the project located in Ernakulam, Kerala.

Based on End User, the market is segmented into Medical and Life Sciences, Engineering, Automotive, IT and Telecommunications, Consumer Electronics, Aerospace and Defense, and Other End-user Industries. Out of which, Medical and Life Sciences is expected to dominate the global market over the forecast period and this is attributed to the increasing technological developments by companies to develop new ways of conducting EEG on the patients. For instance, in January 2022, iMediSync, announced the launch of a comprehensive EEG solution, iSyncWave, for performing predictive analysis and brain mental health screening of potential mental conditions in only 10 minutes.

Engineering segment is also expected to witness significant growth in the near future and this is owing to the growing demand for oscilloscopes. Electronic and electrical engineers use feature-laden, high-power, and digital oscilloscope for storing data. Moreover, these devices are also used by sound engineers to diagnose the frequency response for different sound equipment. Thus, growing demand for oscilloscope in engineering sector is driving growth of this segment.

Global Oscilloscope Market: Key Developments

In February 2022, Tektronix Inc. announced the launch of 5G NR analysis software for 6 Series B MSO oscilloscopes. The new software allows 5G system designer to make addition of 5G NR signal analysis for Tektronix oscilloscopes that allows them a quick diagnose of faulty signal interactions on a single oscilloscope.

In May 2022, TestEquity made addition of Keysight InfiniiVision 3000G Oscilloscope to its catalog of testing equipment. TestEquity became an official distribution partner of InfiniiVision 3000G Oscilloscope of Keysight.

In June 2022, Siglent Technologies Co. Ltd., newly released the SDS2000X HD Digital Storage Oscilloscope. The novel high-resolution SDS2000X HD series of oscilloscopes form SIGLENT come with bandwidths of 100, 200, and 350 MHz.

In April 2022, Keysight Technologies, Inc. launched the first oscilloscope-based automotive protocol trigger/decode solution, D9010AUTP, which covers CAN XL and allows engineers to verify and debug low-speed automotive serial bus protocols.

Global Oscilloscope Market: Key Companies Insights

The global Oscilloscope market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis.

Some of the key players in the global Oscilloscope market are Scientech Technologies Pvt. Ltd., Tektronix Inc., B&K Precision Corporation, Keysight Technologies Inc., Pico Technology Holdings Ltd., Rohde & Schwarz GmbH & Co. KG, Siglent Technologies Co. Ltd., Teledyne LeCroy Inc., Fluke Corporation, Yokogawa Test & Measurement Corporation, Rigol Technologies Inc., and National Instruments Corporation.

*Definition: An Oscilloscope is a device that allows you to measure, display and analyse electric signals. Electrical engineers use oscilloscopes to diagnose problems in circuits, and to perform tests on equipment and devices that require detailed information about voltages, frequencies and amplitudes.