PUBLISHER: Acute Market Reports | PRODUCT CODE: 1128092
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1128092
Digital Multimeter Market - Growth, Future Prospects and Competitive Analysis, 2022 - 2030
Key Market Insights
Rising electric vehicles penetration worldwide will boost market growth
The global digital multimeter market is rising significantly, anticipated to expand at a CAGR of 4.5% during the estimated period from 2022 to 2030, starting from US$ 2263.3 Mn in 2021.
The rising electric vehicle penetration along with the surge in demand for digital multimeters across the globe are the major factors projected to drive the global market growth over the forecast period. The increased penetration of electronic devices worldwide coupled with the low cost & versatility of digital multimeter is another major factor projected to enhance the market growth over the forecast period. The surge in application-specific product development by manufacturers and the addition of new features is another major factor for market growth during the forecast period. The growing adoption of industry 4.0 and AI (artificial intelligence) are some other factors for market growth over the projected period. However, the need for periodic recalibration along with competition from local manufactures are some of the market restraints projected to hinder the digital multimeter market growth over the forecast period.
Application Analysis
Growing electronic vehicles demand to spur the automotive segment growth
Based on application, the segment is bifurcated into automotive, energy, consumer electronics & appliances, medical equipment manufacturing, and others. The automotive segment is projected to grow at a rapid pace during the forecast period. The growing demand for electronic vehicles and autonomous vehicles from Europe, North America, and the Asia Pacific is projected to drive the segment growth during the forecast period. The growing penetration of electronic devices in non-electric vehicles is another major factor for the segment growth in the years to come. Therefore, the segment is projected to grow with the fastest CAGR over the forecast period.
Regional Analysis
The rising penetration of digital multimeter to spur the Asia Pacific growth
The Asia Pacific dominated the global digital multimeter market in 2021 and accounted for more than 1/3rd of the market share in the same year. The rising penetration of digital multimeter coupled with the availability of raw material and low -cost labor are the major factors for regional growth. The presence of major market players such as Yokogawa Electric Corporation, Sanwa Electric Instrument Co. Ltd., and others is another major factor for regional growth over the forecast period. The rising demand for electronic vehicles in the region along with increased investments in the defense sector are some other major factors for regional growth in years to come. Hence, the Asia Pacific is projected to dominate the global market during the forecast period.
Key Industry Developments:
In May 2019, Good Will Instrument Co., Ltd. and its subsidiary Texio, Japan announced a new "LLP (Limited Liability Partnership in India)." With the introduction of the Indian subsidiary, Good Will Instrument Co., Ltd. is projected to enhance its geographic presence in the electronic test & instruments in the Asia Pacific region.
List of Companies Covered:
Yokogawa Electric Corporation
Keysight Technologies
National Instruments Corporation
Gossen Metrawatt
Keithley Instruments (Tektronix, Inc.)
Fluke Corporation
FLIR Systems, Inc.
B&K Precision
CHAUVIN ARNOUX Group
Sanwa Electric Instrument Co., Ltd.
Kyoritsu Electrical Instruments Works Ltd.
Rohde & Schwarz GmbH & Co KG
LeCroy Corporation
Good Will Instrument Co., Ltd.
Historical & Forecast Period:
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Digital Multimeter market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Digital Multimeter market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE DETAILS
Research Period 2020-2030
Base Year 2021
Forecast Period 2022-2030
Historical Year 2020
Unit USD Million
Segmentation
Type
Handheld
Benchtop
Mounted
Ranging Type
Auto-ranging
Manual
Application
Automotive
Energy
Consumer Electronics & Appliances
Medical Equipment Manufacturing
Others
Region Segment (2020-2030; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
Pre COVID-19 situation
Post COVID-19 situation
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Digital Multimeter market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Digital Multimeter market?
Which is the largest regional market for Digital Multimeter market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Digital Multimeter market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Digital Multimeter market worldwide?
Table of Contents
1. Preface
- 1.1. Report Description
- 1.1.1. Purpose of the Report
- 1.1.2. Target Audience
- 1.1.3. Key Offerings
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.3.1. Phase I - Secondary Research
- 1.3.2. Phase II - Primary Research
- 1.3.3. Phase III - Expert Panel Review
- 1.3.4. Assumptions
- 1.3.5. Approach Adopted
2. Executive Summary
- 2.1. Market Snapshot: Global Digital Multimeter Market
- 2.2. Global Digital Multimeter Market, By Type , 2021 (US$ Million)
- 2.3. Global Digital Multimeter Market, By Ranging Type , 2021 (US$ Million)
- 2.4. Global Digital Multimeter Market, By Application , 2021 (US$ Million)
- 2.5. Global Digital Multimeter Market, By Geography, 2021 (US$ Million)
- 2.6. Impact of Covid 19
- 2.7. Attractive Investment Proposition by Geography, 2021
- 2.8. Competitive Analysis
- 2.8.1. Market Positioning of Key Digital Multimeter Market Vendors
- 2.8.2. Strategies Adopted by Digital Multimeter Market Vendors
- 2.8.3. Key Industry Strategies
3. Digital Multimeter Market: Business Outlook & Market Dynamics
- 3.1. Introduction
- 3.2. Global Digital Multimeter Market Value, 2020 - 2030, (US$ Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers
- 3.3.2. Market Restraints
- 3.3.3. Key Challenges
- 3.3.4. Key Opportunities
- 3.4. Impact Analysis of Drivers and Restraints
- 3.5. See-Saw Analysis
- 3.6. Porter's Five Force Model
- 3.6.1. Supplier Power
- 3.6.2. Buyer Power
- 3.6.3. Threat Of Substitutes
- 3.6.4. Threat Of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTEL Analysis
- 3.7.1. Political Landscape
- 3.7.2. Economic Landscape
- 3.7.3. Technology Landscape
- 3.7.4. Legal Landscape
- 3.7.5. Social Landscape
4. Digital Multimeter Market: By Type , 2020-2030, USD (Million)
- 4.1. Market Overview
- 4.2. Growth & Revenue Analysis: 2021 Versus 2030
- 4.3. Market Segmentation
- 4.3.1. Handheld
- 4.3.2. Benchtop
- 4.3.3. Mounted
5. Digital Multimeter Market: By Ranging Type , 2020-2030, USD (Million)
- 5.1. Market Overview
- 5.2. Growth & Revenue Analysis: 2021 Versus 2030
- 5.3. Market Segmentation
- 5.3.1. Auto-ranging
- 5.3.2. Manual
6. Digital Multimeter Market: By Application , 2020-2030, USD (Million)
- 6.1. Market Overview
- 6.2. Growth & Revenue Analysis: 2021 Versus 2030
- 6.3. Market Segmentation
- 6.3.1. Automotive
- 6.3.2. Energy
- 6.3.3. Consumer Electronics & Appliances
- 6.3.4. Medical Equipment Manufacturing
- 6.3.5. Others
7. North America Digital Multimeter Market, 2020-2030, USD (Million)
- 7.1. Market Overview
- 7.2. Digital Multimeter Market: By Type , 2020-2030, USD (Million)
- 7.3. Digital Multimeter Market: By Ranging Type , 2020-2030, USD (Million)
- 7.4. Digital Multimeter Market: By Application , 2020-2030, USD (Million)
- 7.5.Digital Multimeter Market: By Region, 2020-2030, USD (Million)
- 7.5.1.North America
- 7.5.1.1. U.S.
- 7.5.1.2. Canada
- 7.5.1.3. Rest of North America
- 7.5.1.North America
8. UK and European Union Digital Multimeter Market, 2020-2030, USD (Million)
- 8.1. Market Overview
- 8.2. Digital Multimeter Market: By Type , 2020-2030, USD (Million)
- 8.3. Digital Multimeter Market: By Ranging Type , 2020-2030, USD (Million)
- 8.4. Digital Multimeter Market: By Application , 2020-2030, USD (Million)
- 8.5.Digital Multimeter Market: By Region, 2020-2030, USD (Million)
- 8.5.1.UK and European Union
- 8.5.1.1. UK
- 8.5.1.2. Germany
- 8.5.1.3. Spain
- 8.5.1.4. Italy
- 8.5.1.5. France
- 8.5.1.6. Rest of Europe
- 8.5.1.UK and European Union
9. Asia Pacific Digital Multimeter Market, 2020-2030, USD (Million)
- 9.1. Market Overview
- 9.2. Digital Multimeter Market: By Type , 2020-2030, USD (Million)
- 9.3. Digital Multimeter Market: By Ranging Type , 2020-2030, USD (Million)
- 9.4. Digital Multimeter Market: By Application , 2020-2030, USD (Million)
- 9.5.Digital Multimeter Market: By Region, 2020-2030, USD (Million)
- 9.5.1.Asia Pacific
- 9.5.1.1. China
- 9.5.1.2. Japan
- 9.5.1.3. India
- 9.5.1.4. Australia
- 9.5.1.5. South Korea
- 9.5.1.6. Rest of Asia Pacific
- 9.5.1.Asia Pacific
10. Latin America Digital Multimeter Market, 2020-2030, USD (Million)
- 10.1. Market Overview
- 10.2. Digital Multimeter Market: By Type , 2020-2030, USD (Million)
- 10.3. Digital Multimeter Market: By Ranging Type , 2020-2030, USD (Million)
- 10.4. Digital Multimeter Market: By Application , 2020-2030, USD (Million)
- 10.5.Digital Multimeter Market: By Region, 2020-2030, USD (Million)
- 10.5.1.Latin America
- 10.5.1.1. Brazil
- 10.5.1.2. Mexico
- 10.5.1.3. Rest of Latin America
- 10.5.1.Latin America
11. Middle East and Africa Digital Multimeter Market, 2020-2030, USD (Million)
- 11.1. Market Overview
- 11.2. Digital Multimeter Market: By Type , 2020-2030, USD (Million)
- 11.3. Digital Multimeter Market: By Ranging Type , 2020-2030, USD (Million)
- 11.4. Digital Multimeter Market: By Application , 2020-2030, USD (Million)
- 11.5.Digital Multimeter Market: By Region, 2020-2030, USD (Million)
- 11.5.1.Middle East and Africa
- 11.5.1.1. GCC
- 11.5.1.2. Africa
- 11.5.1.3. Rest of Middle East and Africa
- 11.5.1.Middle East and Africa
12. Company Profile
- 12.1. Yokogawa Electric Corporation
- 12.1.1. Company Overview
- 12.1.2. Financial Performance
- 12.1.3. Product Portfolio
- 12.1.4. Strategic Initiatives
- 12.2. Keysight Technologies
- 12.2.1. Company Overview
- 12.2.2. Financial Performance
- 12.2.3. Product Portfolio
- 12.2.4. Strategic Initiatives
- 12.3. National Instruments Corporation
- 12.3.1. Company Overview
- 12.3.2. Financial Performance
- 12.3.3. Product Portfolio
- 12.3.4. Strategic Initiatives
- 12.4. Gossen Metrawatt
- 12.4.1. Company Overview
- 12.4.2. Financial Performance
- 12.4.3. Product Portfolio
- 12.4.4. Strategic Initiatives
- 12.5. Keithley Instruments (Tektronix, Inc.)
- 12.5.1. Company Overview
- 12.5.2. Financial Performance
- 12.5.3. Product Portfolio
- 12.5.4. Strategic Initiatives
- 12.6. Fluke Corporation
- 12.6.1. Company Overview
- 12.6.2. Financial Performance
- 12.6.3. Product Portfolio
- 12.6.4. Strategic Initiatives
- 12.7. FLIR Systems, Inc.
- 12.7.1. Company Overview
- 12.7.2. Financial Performance
- 12.7.3. Product Portfolio
- 12.7.4. Strategic Initiatives
- 12.8. B&K Precision
- 12.8.1. Company Overview
- 12.8.2. Financial Performance
- 12.8.3. Product Portfolio
- 12.8.4. Strategic Initiatives
- 12.9. CHAUVIN ARNOUX Group
- 12.9.1. Company Overview
- 12.9.2. Financial Performance
- 12.9.3. Product Portfolio
- 12.9.4. Strategic Initiatives
- 12.10. Sanwa Electric Instrument Co., Ltd.
- 12.10.1. Company Overview
- 12.10.2. Financial Performance
- 12.10.3. Product Portfolio
- 12.10.4. Strategic Initiatives
- 12.11. Kyoritsu Electrical Instruments Works Ltd.
- 12.11.1. Company Overview
- 12.11.2. Financial Performance
- 12.11.3. Product Portfolio
- 12.11.4. Strategic Initiatives
- 12.12. Rohde & Schwarz GmbH & Co KG
- 12.12.1. Company Overview
- 12.12.2. Financial Performance
- 12.12.3. Product Portfolio
- 12.12.4. Strategic Initiatives
- 12.13. LeCroy Corporation
- 12.13.1. Company Overview
- 12.13.2. Financial Performance
- 12.13.3. Product Portfolio
- 12.13.4. Strategic Initiatives
- 12.14. Good Will Instrument Co., Ltd.
- 12.14.1. Company Overview
- 12.14.2. Financial Performance
- 12.14.3. Product Portfolio
- 12.14.4. Strategic Initiatives
List of Tables
- TABLE 1 Global Digital Multimeter Market By Type , 2020-2030, USD (Million)
- TABLE 2 Global Digital Multimeter Market By Ranging Type , 2020-2030, USD (Million)
- TABLE 3 Global Digital Multimeter Market By Application , 2020-2030, USD (Million)
- TABLE 4 North America Digital Multimeter Market By Type , 2020-2030, USD (Million)
- TABLE 5 North America Digital Multimeter Market By Ranging Type , 2020-2030, USD (Million)
- TABLE 6 North America Digital Multimeter Market By Application , 2020-2030, USD (Million)
- TABLE 7 UK and European Union Digital Multimeter Market By Type , 2020-2030, USD (Million)
- TABLE 8 UK and European Union Digital Multimeter Market By Ranging Type , 2020-2030, USD (Million)
- TABLE 9 UK and European Union Digital Multimeter Market By Application , 2020-2030, USD (Million)
- TABLE 10 Asia Pacific Digital Multimeter Market By Type , 2020-2030, USD (Million)
- TABLE 11 Asia Pacific Digital Multimeter Market By Ranging Type , 2020-2030, USD (Million)
- TABLE 12 Asia Pacific Digital Multimeter Market By Application , 2020-2030, USD (Million)
- TABLE 13 Latin America Digital Multimeter Market By Type , 2020-2030, USD (Million)
- TABLE 14 Latin America Digital Multimeter Market By Ranging Type , 2020-2030, USD (Million)
- TABLE 15 Latin America Digital Multimeter Market By Application , 2020-2030, USD (Million)
- TABLE 16 Middle East and Africa Digital Multimeter Market By Type , 2020-2030, USD (Million)
- TABLE 17 Middle East and Africa Digital Multimeter Market By Ranging Type , 2020-2030, USD (Million)
- TABLE 18 Middle East and Africa Digital Multimeter Market By Application , 2020-2030, USD (Million)
List of Figures
- FIG. 1 Global Digital Multimeter Market: Market Coverage
- FIG. 2 Research Methodology and Data Sources
- FIG. 3 Market Size Estimation - Top Down & Bottom-Up Approach
- FIG. 4 Global Digital Multimeter Market: Quality Assurance
- FIG. 5 Global Digital Multimeter Market, By Type , 2021
- FIG. 6 Global Digital Multimeter Market, By Ranging Type , 2021
- FIG. 7 Global Digital Multimeter Market, By Application , 2021
- FIG. 8 Global Digital Multimeter Market, By Geography, 2021
- FIG. 9 Global Digital Multimeter Market, By Type , 2021 Vs 2030, %
- FIG. 10 Global Digital Multimeter Market, By Ranging Type , 2021 Vs 2030, %
- FIG. 11 Global Digital Multimeter Market, By Application , 2021 Vs 2030, %
- FIG. 12 U.S. Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 13 Canada Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 14 Rest of North America Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 15 UK Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 16 Germany Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 17 Spain Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 18 Italy Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 19 France Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 20 Rest of Europe Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 21 China Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 22 Japan Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 23 India Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 24 Australia Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 25 South Korea Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 26 Rest of Asia Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 27 Brazil Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 28 Mexico Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 29 Rest of Latin America Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 30 GCC Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 31 Africa Digital Multimeter Market (US$ Million), 2020 - 2030
- FIG. 32 Rest of Middle East and Africa Digital Multimeter Market (US$ Million), 2020 - 2030
