Digital Multimeter Market By Product Type (Handheld, Desktop, Mounted), By Ranging Type (Auto-ranging, Manual), By Industry Vertical (Consumer Electronics, Automotive, Power Generation, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The digital multimeter market size was valued at $617.54 million in 2021, and is projected to reach $1,186.94 million by 2031, registering a CAGR of 6.7%. Digital multimeters, or DMM, measure and verify several electrical stimuli such as resistance, current, voltage, and wattage in a variety of equipment such as semiconductor, printed circuit boards, transistors, fuse, integrated circuits, and air-conditioners. Typically, a digital multimeter consists of leads, probes, and clamps, which are inserted in the inputs given on the instrument and then attached to the device which is to be tested, in order to gain the required measurement.
The scope of the report discusses the potential opportunities for the key players to enter the digital multimeter market. Furthermore, it provides an in-depth analysis of the market, outlining current trends, key driving factors, and key areas of investment. The report includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. Moreover, it features the strategies adopted by key market players to maintain their foothold in the market.
The key factors driving the growth of the digital multimeter market include its higher precision as compared to analog testers, expanding use of technology in different endues industries, and the versatile nature of digital multimeters. Meanwhile, competition from small players selling at cheap prices is expected to restrict the market.
The key players operating in the digital multimeter market are Keysight Technologies, Gossen Metrawatt GmbH, National Instruments Corporation, Tektronix, Inc., Yokogawa Electric Corporation, Fluke Corporation, FLIR Systems, Inc., Rohde & Schwarz GmbH & Co KG, Sanwa Electric Instrument Co., Ltd., and Hioki E.E. Corporation. These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration and business expansion to increase their market share in the global digital multimeter market during the forecast period.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital multimeter market analysis from 2021 to 2031 to identify the prevailing digital multimeter market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the digital multimeter market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global digital multimeter market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
Handheld
Desktop
Mounted
By Ranging Type
Auto-ranging
Manual
By Industry Vertical
Consumer Electronics
Automotive
Power Generation
Healthcare
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Fluke Corporation
Rohde & Schwarz GmbH & Co KG
Sanwa Electric Instrument Co., Ltd.
Yokogawa Electric Corporation
Gossen Metrawatt GmbH
TEKTRONIX, INC.
Keysight Technologies
FLIR Systems, Inc.
HIOKI E.E. CORPORATION
National Instruments Corporation
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