Oscilloscope Market Size (2024 - 2029)

Oscilloscope Market Analysis

The Oscilloscope Market size is estimated at USD 3.46 billion in 2024, and is expected to reach USD 5.08 billion by 2029, growing at a CAGR of 7.99% during the forecast period (2024-2029).

The demand for higher accuracy, coupled with the increasing requirements for safety applications and the necessity for fast data transmission, are driving the adoption rate of oscilloscopes. Moreover, some of the recent trends in the market include specification increases demanded by customers, such as bandwidth, sample rate, and memory depth.

• The range of waveform testing that engineers need to perform is expanding, which is another driving force for the market. Engineers are demanding higher bandwidths and sampling speeds, more channels (both analog and digital), and deeper capture memories to sustain maximum sampling performance for longer test durations.
• Furthermore, the growing demand for power-efficient and high-performance electronic devices and increasing demand for modular instrumentation will drive the demand for the oscilloscope market. Engineers use oscilloscopes to collect data and make sense of it. Modern oscilloscopes have many built-in tools for analyzing data, such as Track and Trend, which graphs measurements to identify anomalies.
• Several leading players operating in the oscilloscope market are focusing on developing new products to stay ahead of the competition. For instance, in March 2023, Acute Technology, Inc. announced to launch a new 4-channel digital storage oscilloscope. The new TravelScope 3000 (TS3000) offers a sample rate of 1 GS/s and a bandwidth of 200 MHz. It has over 20 waveform measurements with user-defined threshold settings and real-time updates of vertical, time, and inter-channel timing measurements with statistics.
• Oscilloscopes are costly because their components, such as tubes, transistors, and capacitors, are quite expensive, leading to high maintenance costs. When planning a budget for scope maintenance, the cost of the parts and the technician's time must be considered. A technician might bill USD 75 to USD 100 an hour. A scope could cost USD 500 or more if it needs a significant upgrade which has been a considerable market restriction.
• The outbreak of COVID-19 across the globe had significantly affected the supply chain and production of the studied market during the initial phase of 2020 and 2021. Since the outbreak of COVID-19 in 2020, the manufacturing sectors have been facing the consequences of the pandemic as factories struggled to manage production due to forced lockdowns by the government, strict safety protocols, and the resultant lack of workforce. This prompted them to switch to industrial automation, which augmented the studied market. Moreover, the disruption of supply chains due to overdependence on China, which was also the pandemic's epicenter, has forced the reorganization and shift of supply chains to other countries.

Oscilloscope Industry Segmentation

An oscilloscope is a device used to test the functionality of equipment, which generates an electrical signal. Oscilloscopes measure the changing voltage of an electrical signal over time and display the signal as a waveform in a graph, with voltage sweeps on a vertical (Y) axis and time on a horizontal (X) axis.

The study covers various oscilloscopes offered by vendors and the industries using them. The estimates for end-user industries are derived based on the type of application the oscilloscopes provide. The geographical segment estimates are derived based on the end-user establishments and growth in the particular region. The study also tracks key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period.

The oscilloscope market is segmented by component (hardware, software), type (analog, digital, pc-based), end-user industry (medical and life sciences, engineering, automotive, it and telecommunications, consumer electronics, aerospace geographical segment estimates, and defense), and by geography(North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The report offers the market size in value terms in (USD) for all the above mentioned segments.