Global Digital Multimeter Market
The GMI Research forecasts that the Digital Multimeter Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the increased penetration of electronic devices across various end-user industries and the low cost and multifunctional nature.
Introduction of the Digital Multimeter Market:
A Digital Multimeter (DMM), also known as voltmeter, or ohmmeter, or volt ohm meter, includes various types of measurements in one device. It helps to measure two or more electrical values such as voltage, current, and resistance. DMM is implemented to check different equipment and offer high degrees of accuracy while measuring various parameters within an electronics or electrical circuit.
Key Players of the Global Digital Multimeter Market:
- Keysight Technologies
- Gossen Metrawatt
- Yokogawa Electric Corporation
- Flir Systems
- National Instruments Corporation
- B&K Precision
- Tektronix
- Sanwa Electric Instrument Company
- Chauvin Arnoux
- Hioki E.E. Corporation
- Fluke Corporation
Digital Multimeter Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
One of the prominent drivers mounting the growth of the global digital multimeter market is its comprehensive application across various industries led by features like a better level of accuracy, portability, dual display, and adaptability. The enlargement of industry 4.0 and the augmenting integration of the Internet of Things will further strengthen the digital multimeter market size. In addition, other factors such as ongoing enhancements, surging acquisition of electronic equipment across industries, and application-specific product development along with the versatility and economical cost are contributing to the market growth. However, competition from small local manufacturers selling low-quality products is curbing the market growth.
Type Segment Drivers
Based on the Type, the handheld is forecasted to witness a robust demand during the forecast period. This is owing to their increasing demand across the energy & automotive sector driven by its low cost and portability features.
Ranging Type Segment Drivers
Based on the Ranging Type, auto-ranging will expand at a higher growth rate owing to the rising demand for electronics devices and smart home appliances across the world.
Application Segment Drivers
Based on the Application, automotive is contemplated to expand at a faster CAGR during the forecast period. This is due to the rising demand for self-driving cars and electric vehicles, especially in North America, Europe, and China.
Regional Drivers
Based on the region, Asia-Pacific is predicted to observe an accelerated momentum in the market over the coming years because of the easy availability of raw materials and less labor cost. Moreover, the prevalence of various consumer electronics and automotive manufacturer adds to the digital multimeter market share.
Digital Multimeter Market Segmentation:
Segmentation by Type
- Handheld
- Benchtop
- Mounted
Segmentation by Ranging Type
- Auto-Ranging
- Manual
Segmentation by Application
- Consumer Electronics & Appliances
- Automotive
- Energy
- Medical Equipment Manufacturing
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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