Digital Multimeter Market Growth, Industry Top Companies Share, Size, Demands, and Forecast 2021-26
- raveenaimarc
- Jul 19, 2021
- 3 min read
According to the latest report by IMARC Group, titled “Digital Multimeter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global digital multimeter market size is expected to grow at a CAGR of around 7% during 2021-2026. Digital multimeters (DMMs) are testing tools used for measuring two or more electrical values such as voltage (volts), current (amperes) and resistance (ohms). They perform tests on the operation of diodes, transistors, or electrical continuity. In addition to this, they are portable, and their digital or liquid crystal display (LCD) have no moving parts, thereby making them free from wear and shock failures. DMMs are rapidly replacing analog meters due to their ability to measure different parameters with greater accuracy, reliability and improved impedance. As a result, they are widely utilized for troubleshooting various electrical issues in industrial as well as domestic devices, such as motor controls, power supplies and wiring systems.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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Global Digital Multimeter Market Trends:
Rapid industrialization, in confluence with the burgeoning electronics industry, represents one of the significant factors propelling the growth of the digital multimeter market. The boosting sales of electronic devices across different industry verticals has positively influenced the demand for these devices among professionals. Apart from this, owing to the various technological advancements in the production process, manufacturers are incorporating other measuring instruments, such as insulation testers and infrared thermometers in DMMs. Other features, including dielectric absorption, polarization index and earth-bond resistance are also being included in these devices to offer improved efficiency and user-friendly experience. Furthermore, on account of their cost-effectiveness and multi-functionality, DMMs are increasingly being preferred over voltmeters and ohmmeters. Besides this, the increasing trend of digitalization is also strengthening market growth.
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Key Market Segmentation:
Competitive Landscape with Key Player:
Agilent Technologies
Anritsu
Danaher
Rohde & Schwarz
Tektronix
Adlink Technology
Aeroflex
Ametek
Giga-tronics
National Instruments
Rigol Technologies
Teledyne LeCroy
Teradyne
Yokagawa Electric
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
Key Highlights of the Report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Related Report:
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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