With the advent of newer technologies and their further development, electronic devices are gaining more traction. The testing equipment market is experiencing a noticeable growth, and a subsequent rise in usage of advanced measurement tools, with an increase in number of radio frequency and digital components in electronic devices. Oscilloscopes market has a wide range of end-user industries, owing to versatile usage of oscilloscope. An oscilloscope was a time-domain measurement tool at early stages, but modern oscilloscopes have been evolved to calculate frequency-domain measurements, to validate and debug various signals from many wireless communication systems. Thus, with boosting communication sector, the oscilloscopes market is also witnessing an upsurge. Resultantly, the oscilloscope market rested at a revenue of $2 billion by the end of 2018, and set to observe a growth with a CAGR of 4.27%, during the forecast period 2019-2025.

As per the reports of the International Trade Centre (ITC), the global trade value of oscilloscopes, spectrum analyzers and other apparatus and instruments for checking or measuring electrical quantities, excluding meters of heading recorded $26.66 billion in 2018. The trade value experienced a growth of 10% year on year. Hence, it can be concluded that a part of this host trade value is attributable to the oscilloscope market growth.

Spurring Oscilloscope Market Revenue in North America

In 2018, North America accounted for the largest oscilloscope market share of 35.28% of the global market. The U.S., Canada, Mexico, and other countries are constantly contributing to R&D of technologies, which is boosting the adoption of oscilloscopes in various industries such as telecommunication, engineering, and others. These end-users are thus, contributing in growth of the oscilloscope market, and further expansion in the upcoming years.

· Rising Telecommunication Industry will Benefit North American Oscilloscope Market –

The telecommunication industry is booming significantly, owing to rising R&D activities in the sector. As per the 2019 annual wireless industry survey of Certified Threat Intelligence Analyst (CTIA), 82% more mobile data was used in 2018, compared to 2017. Furthermore, since the deployment of 4G in 2010, the telecommunication industry has made over $253 billion capital investments. 5G launch is underway, and the industry reported an increase of more than 25,000 sites in 2018, from 2017. These statistics are supporting the unprecedented growth of the telecommunication industry. Oscilloscopes are extensively used by engineers in the telecommunication field, to extract various parameters, statistics, and histograms through its own signal analysis software. Thus, with the growth of the telecommunication industry, the oscilloscope market vendors will witness favorable opportunities in the upcoming years.

· Advancement in Smart Home Technology will Drive the Oscilloscope Market growth in North America –

Increasing human population is becoming immensely reliant on various kinds of technologies, which is causing an incessant depletion of natural resources. Thus, smart technologies are taking over to conserve environment without affecting the smooth functioning of daily lives. This has brought in the implementation of smart homes, which is using Internet of Things (IoT) technology to utilize automation and simplification of the home environment. Global Smart Homes Market registered a revenue of approximately $70 billion in 2018, where North America held a market share of 25%-28% of the global market. According to International Housewares Associations analysis, North American smart home industry will reach around $40 billion by 2020.[3] Many electronic and electrical engineers involve in construction and after service of smart homes, completely rely on various digital storage oscilloscopes to design different equipment, and measure electric resistance including faults in cable connectors, transmission cables, and micro strips on a circuit board. Hence, with growing smart home industry, new avenues will be opened for oscilloscope market vendors in the next years.

Oscilloscope Market: Key Application

The key application of oscilloscope is the automotive industry. Apart from medicine, telecommunication, science, and engineering, oscilloscopes are extensively used in the automotive industry, where the specialized automotive oscilloscope, also known as engine analyzer or motor tester is used for tracing and correcting faults in primary and secondary ignitions, solenoids, sensors, actuators, and others. The automotive industry is expanding constantly, with high number of vehicle productions across the globe. According to the reports of the International Organization of Motor Vehicle Manufacturers (OICA), the automotive industry experienced sales worth $97m in 2017, which includes both commercial and passenger vehicle. Moreover, self-driven cars and electric cars are estimated to contribute largely in the automotive industry growth, in the upcoming years. These factors will create a positive impact on the oscilloscope market, as the automotive industry uses oscilloscopes in a large amount. The implementation of oscilloscope in the automotive market is expected to rise at a CAGR of 5.85% through to 2025, yielding high results for oscilloscope market vendors, during the forecast period 2019-2025.

Oscilloscope Market Growth Drivers –

· Application of Oscilloscopes in Healthcare Industry to Enhance Diagnostic–

As per reports by the National Center for Biotechnology Information (NCBI), approximately, one in three adults in the world suffer from multiple chronic conditions. Due to unhealthy diet, and sedentary lifestyles that are constantly increasing the threat of chronic diseases.  Moreover, rising geriatric population demands increasing diagnostic methods. Oscilloscopes have a variety of applications in the medical industry as well as nursing, in a form of monitoring heartbeats, display of patients' brain waves, and others for diagnostic purposes. With the growing concern for life without diseases, the healthcare industry is going to expand in the upcoming years, supporting the oscilloscope market growth.

· PC Based Oscilloscopes Gaining Attraction for Being Compact and Inexpensive–

The most sophisticated form of oscilloscopes is used in computers. PC-based oscilloscopes or USB oscilloscopes are gaining popularity, as they are effective, inexpensive and compact. According to the reports of Bureau of Labor Statistics, employment in the field of computer and information technology is expected to grow 13%, during 2016-2026, demanding to add about 557,100 new jobs in this sector. This rising amount of employment in the computer sector is going to increase the usage of oscilloscopes due to its attractive features resulting in the growth of the oscilloscope market.

Oscilloscope Market: Competitive Landscape

The key players of the oscilloscope market, which are contributing in maximum market shares are Danaher, Keysight Technologies, Teledyne, Rohde and Schwarz, Yokogawa, Gao Tek, NAtional Instrument, SIgilent, OWon, Hantek, GW Instek, Fluke, and Lvyang.

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Related Reports:

a) RF Test Equipment Market

https://www.industryarc.com/Report/1283/RF-testing-equipment-market-analysis.html

b) Test and Measurement Market

https://www.industryarc.com/Report/15458/test-and-measurement-market.html

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