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Digital Multimeter Market Trends

Report ID: GMI5758
Published Date: May 2023
Report Format: PDF

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Digital Multimeter Market Trends

The increased use of digital multimeters by electronic engineering professional around the world has propelled the demand for the equipment. In addition, technological advances in the manufacturing process have allowed companies to adopt them with other measuring devices such as electronic measuring devices and multi-meter infrared thermometers. Digital multi-meters have features such as polarization index, dielectric absorption, and earth resistance. These features lead to increased demand for these products by providing better functionality and user experience. Moreover, these devices are increasingly becoming the better choice for ohmmeters or voltmeters due to their high efficiency and versatility, portability, and dual resolution. Other factors, such as the advancement of digitization is also augmenting the overall growth of the market.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

Market size for digital multimeter was USD 1 Billion in 2022 and will grow at a 4.5% CAGR between 2023 and 2032.

Auto-ranging digital multimeter industry share was over 5% CAGR in 2022 due to the widespread use of these meters in radio and electronic testing, automotive electronics, home appliances, portables, and similar devices.

Asia Pacific held over 40% share in the global digital multimeter market in 2022 as countries like Taiwan, Hong Kong, and China own strong power generation capabilities.

B&K Precision, FLIR Systems, Inc., Fluke Corporation, Giga-tronics, Gossen Metrawatt GmbH, HIOKI E.E. CORPORATION, Keysight Technologies, Kyoristu Electrical Instruments Works, National Instruments Corporation, and Rigol Technologies.