The digital multimeter market is expected to reach USD 1.1 billion by 2021, growing at a CAGR of 4.7%, to reach USD 1.3 billion by 2027.

Digital Multimeter Market Overview

A digital multimeter is a device used to measure electrical parameters such as voltage, current, and resistance of electronic components. It is known as an advanced standard diagnostic tool because it can measure the resulting value more accurately. Digital multimeters reflect results on an LCD or LED display in numeric form with numbers ranging from 3 millivolts to 4 volts. Digital multimeters have been recommended by many industries over other types of meters because they are lightweight, cost-effective, and provide accurate readings compared to traditional metering devices. Additionally, special probes such as buttons, dials, and inputs are used to measure various electrical parameters such as temperature and capacitance at high frequencies.

Contrive Datum Insights has recently published the Digital Multimeter Market to its huge database which helps to shape the future of businesses by making well-informed business decisions. It offers a comprehensive analysis of various business aspects such as global market trends, recent technological advancements, market size, shares, and new innovations. Furthermore, this analytical data has been compiled through data exploratory techniques such as primary and secondary research. Moreover, an expert team of researchers throws light on various static and dynamic aspects of the global Digital Multimeter market.

Some of the key players profiled in the study are:

Different leading key players have been profiled to get better insights into the businesses. It offers detailed elaboration on different top-level industries which are functioning in global regions. It includes informative data such as company overview, contact information, and some significant strategies followed by key players: Fluke Corporation, Chauvin Arnoux Group, Rohde & Schwarz, Keysight, HIOKI, FLIR, B&K Precision Corporation, UNI-T, Victor, Klein Tools, GW Instek, Leierda, CEM, Sata, Mastech Group, Gossen Metrawatt, Metrel d.d., Triplett, Prokits Industries Co., LTD, and others.

Industry Development:

• In April 2019, Gossen Metrawatt launched the new Metraline series of digital multimeters. New products include safety self-latching receptacles complying with measurement category CAT IV (300 V) or CAT III (600 V)
• In April 2019, Keysight Technologies, Inc. opened a new Automotive Customer Center in Nagoya, Japan, to work with and service local customers to support innovative technology projects. The new center includes customer electronics test and measurement laboratories, technical experts and state-of-the-art testing equipment, as well as customer training facilities for hands-on workshops and seminars.
• In November 2018, Tektronix introduced the Keithley DMM7512 dual-channel 7½-digit sampling multimeter. This multimeter packs two independent and identical DMMs into a low profile 1U high, full rack width, space-saving enclosure. The DMM7512 is an 18-bit digitizer with 1Msample/s, 1µV voltage sensitivity, and 0.1nA current sensitivity, capable of capturing transient signals and waveforms, even low-level waveforms such as battery drain current.
• In July 2017, following the establishment of subsidiaries in the United States, China, Singapore, South Korea, and India, Hioki established Hioki Europe GmbH, a sales subsidiary for the European market, headquartered in Germany. The subsidiary is expected to bring Hioki closer to key regional companies in the automotive and aerospace industries.

What are the major Applications, Types, and Regions of the Digital Multimeter Market?

On the Basis of Type:

• Handheld Type, Bench-top Type, Others

On the Basis of Application:

• Industrial Manufacturing, Commercial, and Public Utilities

Digital Multimeter Market Regional Insights:

North America is expected to dominate the market in the future. One of the major factors for the growth of this region is the continuously increasing demand for electronic and electrical components for measurement.
The European region will also register significant growth in the coming period. Investments by major players and growing demand for electricity metering are important factors for growth.
Asia Pacific is estimated to register the fastest growth in the upcoming period in the digital multimeter industry. Major contributors are from countries such as China, India, and Japan. Rising demand and rapid development are fueling market growth. This is why Asia Pacific is expected to show the highest CAGR.

Geographically, the global Digital Multimeter market has been analyzed in various regions such as North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. The global region is dominating this market in the upcoming future.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Digital Multimeter Market Report Scope:

Report Attributes	Details
Growth Rate	CAGR of 4.7% from 2022 to 2030.
By Type	Handheld Type, Bench-top Type, Others
By Application	Industrial Manufacturing, Commercial, Public Utilities
By Companies	Fluke Corporation, Chauvin Arnoux Group, Rohde & Schwarz, Keysight, HIOKI, FLIR, B&K Precision Corporation, UNI-T, Victor, Klein Tools, GW Instek, Leierda, CEM, Sata, Mastech Group, Gossen Metrawatt, Metrel d.d., Triplett, Prokits Industries Co., LTD
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

 

Frequently Asked Questions (FAQ) about the Digital Multimeter market:

What is the CAGR of the global Digital Multimeter market?

The Digital Multimeter Market is growing at a CAGR of 4.7% during the forecast period.

Which region would offer high growth for vendors in the Digital Multimeter market?

North America is expected to dominate the market in the future.

Which Is the Most potential market segment?

By Types- Handheld Type, Bench-top Type, Others

By Applications - Industrial Manufacturing, Commercial, Public Utilities

Which are the top industry players in the Digital Multimeter market?

Fluke Corporation, Chauvin Arnoux Group, Rohde & Schwarz, Keysight, HIOKI, FLIR, B&K Precision Corporation, UNI-T, Victor, Klein Tools, GW Instek, Leierda, CEM, Sata, Mastech Group, Gossen Metrawatt, Metrel d.d., Triplett, Prokits Industries Co., LTD

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