PUBLISHER: IMARC | PRODUCT CODE: 1308456
PUBLISHER: IMARC | PRODUCT CODE: 1308456
Digital Multimeter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global digital multimeter market size reached US$ 1.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.3 Billion by 2028, exhibiting a growth rate (CAGR) of 3.4% during 2023-2028.
A digital multimeter is a standard diagnostic tool that is used to test electrical values such as the voltage, current and resistance in an electrical appliance. It consists of a display with buttons, a dial or a rotary switch and various input jacks in which the test leads are inserted. Also, as compared to traditionally used needle-based analog meters, the digital-variants have higher accuracy, reliability and impedance. As a result, they are extensively used for troubleshooting various electrical issues in industrial and domestic devices such as home appliances, motor controls, power supplies and wiring systems.
A thriving electronics industry, along with rapid industrialization, is the key factors driving the global market. Increasing adoption of electronic devices by consumers around the globe have augmented the demand for these devices among electrical professionals. Furthermore, technological advancements in product manufacturing have enabled the manufacturers to integrate other measuring instruments such as insulation testers and infrared thermometers with multimeters. Also, certain features such as polarization index, dielectric absorption and earth-bond resistance are being added in these devices. These features provide enhanced efficiency and user-friendly experience, thus resulting in an increasing demand for the product. Additionally, owing to their cost-effectiveness and the multi-functionality, along with their portability and dual display resolution, these devices are increasingly being preferred over ohmmeters or voltmeters. Other factors such as the rising trend of digitization are also contributing to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global digital multimeter market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, functionality and end use industry.
Breakup by Product Type:
Handheld
Bench-Top
Mounted
Others
Breakup by Functionality:
A thriving electronics industry, along with rapid industrialization, is the key factors driving the global market. Increasing adoption of electronic devices by consumers around the globe have augmented the demand for these devices among electrical professionals. Furthermore, technological advancements in product manufacturing have enabled the manufacturers to integrate other measuring instruments such as insulation testers and infrared thermometers with multimeters. Also, certain features such as polarization index, dielectric absorption and earth-bond resistance are being added in these devices. These features provide enhanced efficiency and user-friendly experience, thus resulting in an increasing demand for the product. Additionally, owing to their cost-effectiveness and the multi-functionality, along with their portability and dual display resolution, these devices are increasingly being preferred over ohmmeters or voltmeters. Other factors such as the rising trend of digitization are also contributing to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global digital multimeter market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, functionality and end use industry.
Breakup by Product Type:
Handheld
Bench-Top
Mounted
Others
Breakup by Functionality:
Auto Ranging
Clamp Digital
Fluke Digital
Others
Breakup by End Use Industry:
Automotive
Manufacturing
Energy
Utility
Others
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Agilent Technologies, Anritsu, Danaher, Rohde & Schwarz, Tektronix, Adlink Technology, Aeroflex, Ametek, Giga-tronics, National Instruments, Rigol Technologies, Teledyne LeCroy, Teradyne and Yokagawa Electric, etc.
IMARC Group's latest report provides a deep insight into the global digital multimeter market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global digital multimeter market in any manner.
Key Questions Answered in This Report:
- How has the global digital multimeter market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global digital multimeter industry?
- What has been the impact of COVID-19 on the global digital multimeter industry?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the functionality?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the global digital multimeter industry?
- What are the key driving factors and challenges in the global digital multimeter industry?
- What is the structure of the global digital multimeter industry and who are the key players?
- What is the degree of competition in the global digital multimeter industry?
- What are the profit margins in the digital multimeter industry?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Digital Multimeter Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Product Type
- 5.5 Market Breakup by Functionality
- 5.6 Market Breakup by End Use Industry
- 5.7 Market Breakup by Region
- 5.8 Market Forecast
6 Market Breakup by Product Type
- 6.1 Handheld
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Bench-Top
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Mounted
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Functionality
- 7.1 Auto Ranging
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Clamp Digital
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Fluke Digital
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by End Use Industry
- 8.1 Automotive
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Manufacturing
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Energy
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Utility
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Europe
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Asia Pacific
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Middle East and Africa
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Latin America
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Agilent Technologies
- 14.3.2 Anritsu
- 14.3.3 Danaher
- 14.3.4 Rohde & Schwarz
- 14.3.5 Tektronix
- 14.3.6 Adlink Technology
- 14.3.7 Aeroflex
- 14.3.8 Ametek
- 14.3.9 Giga-tronics
- 14.3.10 National Instruments
- 14.3.11 Rigol Technologies
- 14.3.12 Teledyne LeCroy
- 14.3.13 Teradyne
- 14.3.14 Yokagawa Electric
List of Figures
- Figure 1: Global: Digital Multimeter Market: Major Drivers and Challenges
- Figure 2: Global: Digital Multimeter Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Digital Multimeter Market: Breakup by Product Type (in %), 2022
- Figure 4: Global: Digital Multimeter Market: Breakup by Functionality (in %), 2022
- Figure 5: Global: Digital Multimeter Market: Breakup by End Use Industry (in %), 2022
- Figure 6: Global: Digital Multimeter Market: Breakup by Region (in %), 2022
- Figure 7: Global: Digital Multimeter Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 8: Global: Digital Multimeter Industry: SWOT Analysis
- Figure 9: Global: Digital Multimeter Industry: Value Chain Analysis
- Figure 10: Global: Digital Multimeter Industry: Porter's Five Forces Analysis
- Figure 11: Global: Digital Multimeter (Handheld) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Digital Multimeter (Handheld) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Digital Multimeter (Bench-Top) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Digital Multimeter (Bench-Top) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Digital Multimeter (Mounted) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Digital Multimeter (Mounted) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Digital Multimeter (Other Product Types) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Digital Multimeter (Other Product Types) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Digital Multimeter (Auto Ranging) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Digital Multimeter (Auto Ranging) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Digital Multimeter (Clamp Digital) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Digital Multimeter (Clamp Digital) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Digital Multimeter (Fluke Digital) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Digital Multimeter (Fluke Digital) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Digital Multimeter (Other Functionalities) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Digital Multimeter (Other Functionalities) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Digital Multimeter (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Digital Multimeter (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Digital Multimeter (Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Digital Multimeter (Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Global: Digital Multimeter (Energy) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Global: Digital Multimeter (Energy) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Global: Digital Multimeter (Utility) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Global: Digital Multimeter (Utility) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: Global: Digital Multimeter (Other Industries) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: Global: Digital Multimeter (Other Industries) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: North America: Digital Multimeter Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: North America: Digital Multimeter Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Europe: Digital Multimeter Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Europe: Digital Multimeter Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Asia Pacific: Digital Multimeter Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Asia Pacific: Digital Multimeter Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: Middle East and Africa: Digital Multimeter Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: Middle East and Africa: Digital Multimeter Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Latin America: Digital Multimeter Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Latin America: Digital Multimeter Market Forecast: Sales Value (in Million US$), 2023-2028
- Table 1: Global: Digital Multimeter Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Digital Multimeter Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
- Table 3: Global: Digital Multimeter Market Forecast: Breakup by Functionality (in Million US$), 2023-2028
- Table 4: Global: Digital Multimeter Market Forecast: Breakup by End Use Industry (in Million US$), 2023-2028
- Table 5: Global: Digital Multimeter Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Digital Multimeter Market: Competitive Structure
- Table 7: Global: Digital Multimeter Market: Key Players
