Digital Multimeter Market

A Digital Multimeter (DMM) is defined as a device that includes multiple types of measurements in one device. It is used to measure two or more electrical values such as voltage, current, and resistance. The digital multimeter is also known as voltmeter, or ohm meter or volt ohm meter. DMM is used to test different equipments and provide high degrees of accuracy while measuring various parameters within an electronics or electrical circuit.

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The primary factor which is driving the growth of the Global Digital Multimeter market include its remarkable benefits offers such as low cost and versatility. The increasing adoption of electronics devices across end-user industries, and application-specific product development and the continuous addition of new features is further boosting the demand of the market. Digital multimeter is widely used across various industries due to its better accuracy level, flexibility, portability, and dual display resolution feature. These features are drastically increasing the demand for digital multimeter. Moreover, the rising industry 4.0 and growing application of Internet of Things (IoT) is further propelling the growth of the market. However, competition from small local manufacturers which are selling low-quality products is restraining the growth of the market.

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Based on the Type, the handheld segment is expected to grow at a higher CAGR during the forecast period owing to the increasing demand for digital multimeter across energy & automotive sector driven by its low cost and portability features.

Based on the Ranging Type, the auto-ranging segment is projected to grow at a higher CAGR during the forecast period owing to the rising demand for electronics devices and smart home appliances across the world.

Based on the Application, the automotive segment is expected to grow at a higher CAGR during the forecast period due to the rising demand for self-driving cars and electric vehicles across the globe, especially in North America, Europe, and China.

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Based on the region, Asia-Pacific is projected to grow at a higher CAGR in the global digital multimeter market during the forecast period owing to the easy availability of raw materials and low labour cost in this region. In addition, due to the presence of various consumer electronics, and automotive manufacturer in this region is also increasing the demand for digital multimeter.

The major key players in the market include Keysight Technologies, Tektronix, National Instruments Corporation, Gossen Metrawatt, Yokogawa Electric Corporation, Flir Systems, Hioki E.E. Corporation, Fluke Corporation, B&K Precision, Sanwa Electric Instrument Company, Chauvin Arnoux among others.

Key Development:

• •  In Apr 2019, Gossen Metrawatt launched new Metraline series digital multimeters. The new product line includes three digital multimeters with different feature set and used for measuring and testing equipment
  • In Nov 2018, Tektronix launched new dual channel multimeter Keithley DMM7512. It is suited for a range that demands high-volume manufacturing test applications which need measurement capacity, performance and a compact footprint.

The Global Digital Multimeter market has been segmented based on the Type, Ranging Type, Application, and key region. Based on Type, the market is segmented into Handheld, Benchtop and Mounted. Based on Ranging Type, the market is segmented into Auto-Ranging, and Manual. Based on Application, the market is segmented into Consumer Electronics & Appliances, Automotive, Wireless Communication & Infrastructure, Energy, Medical Equipment Manufacturing and Others.

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Key questions answered in this research report:

• • At what pace is the global Digital Multimeter market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Digital Multimeter market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Digital Multimeter market?
  • What are the various Application of the global Digital Multimeter market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Digital Multimeter Market by Type

• • Handheld
  • Benchtop
  • Mounted

Global Digital Multimeter Market by Ranging Type

• • Auto-Ranging
  • Manual

Global Digital Multimeter Market by Application

• • Consumer Electronics & Appliances
  • Automotive
  • Energy
  • Medical Equipment Manufacturing
  • Others

Global Digital Multimeter Market by Region

• • North America Digital Multimeter Market
    Option 1: As a part of the free 25% customization
    • By Type
    • By Ranging Type
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Digital Multimeter Market
    Option 2: As a part of the free 25% customization
    • By Type
    • By Ranging Type
    • By Application
    • Spain Market All-Up
    • Netherlands Market All-Up
    • Germany Market All-Up
    • UK Market All-Up
    • France Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Digital Multimeter Market
    Option 3: As a part of the free 25% customization
    • By Type
    • By Ranging Type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • ROW Digital Multimeter Market
    Option 4: As a part of the free 25% customization
    • By Type
    • By Ranging Type
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Keysight Technologies
  • Tektronix
  • National Instruments Corporation
  • Gossen Metrawatt
  • Yokogawa Electric Corporation
  • Flir Systems
  • Hioki E.E. Corporation
  • Fluke Corporation
  • B&K Precision
  • Sanwa Electric Instrument Company
  • Chauvin Arnoux