The global oscilloscope probes market was valued at USD 406.7 Million in 2019 and is projected to reach USD XX7.6 Million by 2027, expanding at a CAGR of 4.6% during the forecast period. The market is driven by factors such as rapid increase in self-monitored facilities, rise in focus toward product design, growth in the demand for electronic data storage, and rapid growth of the automotive manufacturing sector.
Emphasis on product design in the semiconductor industry and the electronics industry is a key factor driving the demand for oscilloscope probes. However, lack of expertise in selection and handling of the probes and highly competitive market are key restraints of this market. Growing R&D investments and increasing connectivity and convergence are boosting the market. This market is propelled by increasing electronic device knowledge and rise in connectivity and user interface improvements and modular instrumentation.
Request a sample before buying this report : http://bit.ly/3cKFVcv
On the basis of types, the oscilloscope probes market is segmented into passive oscilloscope probes, active oscilloscope probes, and others. The passive oscilloscope probes segment is estimated to hold 68.9% share of the market in 2020 due to its increasing demand from various industries. The active oscilloscope probes segment is anticipated to expand at a CAGR of 5.2% during the forecast period owing to its superior accuracy in fast signal measurement for high frequency applications.
Based on applications, the oscilloscope probes market is classified as electronics industry, scientific research, military applications, and others. The electrical industry segment is projected to constitute 64.1% share of the market in 2027, as electronic technicians need oscilloscopes and their samples to design and produce electronic devices such as computers, televisions, telephones and many other sustainable consumer devices. The scientific research and military applications segment is anticipated to expand at significant pace due to increasing use of oscilloscope probes in these sectors during the forecast period.
In terms of regions, the market has been fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. The region constituted 55.8% share of the market in 2020. The market in the region is projected to expand at a CAGR of 4.8% during the forecast period. The demand for oscilloscope probes is expected to rise due to the rapid growth in the consumption of electronic devices and consumer durables in the region. The market in North America is projected to expand at a CAGR of 4.5% due to the increasing investments in R&D and recent advances in the automotive industry during the forecast period.
Key players in the market include Teledyne LeCroy, Pico Technology, and Yokogawa Electric Corporation. These companies are considered as key manufacturers of oscilloscope probes based on their revenue, research & development (R&D) activities, regional presence, and supply chain management system.
Global Oscilloscope Probe Market Trends
On the basis of types, the Oscilloscope Probes market is segmented into passive oscilloscope probes, active oscilloscope probes, and others. The passive oscilloscope probes segment accounts for a major share of the market and the active oscilloscope probes segment is anticipated to expand at a high CAGR during the forecast period.
The passive oscilloscope probes segment holds a major share of the market due to its increasing demand from various industries and it is the most preferred probe compared to others. The growing demand for electronic devices and their maintenance are also factors responsible for market growth.
A passive oscilloscope probe is a safe option for general-purpose testing and troubleshooting, while an active probe provides better precise insights into measuring fast signals for high-frequency applications. Currently, many active probes have an numerous specification for measuring bandwidth in the market.
Oscilloscope probes are an important addition to any oscilloscope but compared between passive probes and active probes, there is no clear-cut option because it depends on the intended use.
