Oscilloscope Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Oscilloscope Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Oscilloscope Market was estimated at USD 2,076.55 million in 2021 (in nominal/real terms). The Oscilloscope Market is expected to grow at a compound annual growth rate (CAGR) of 4.59% during the forecast period (2022-2027). With technological advancements across industries, oscilloscopes also transformed into digital oscilloscopes. Oscilloscopes are primarily used in designing and manufacturing activities. However, the advent of digital oscilloscopes led to growth in end-user verticals and applications, which positively impacted the market studied.

Key Highlights
  • The study covers various oscilloscopes offered by vendors and the industries using them. The estimates for the end-user industries are derived based on the type of application the oscilloscopes provide in that industry. 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 sweeps of voltage on a vertical (Y) axis and time on a horizontal (X) axis.
  • 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 studied 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.
  • Oscilloscopes are costly because its 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 significantly disrupted 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 the workforce. This prompted them to switch to industrial automation, which augmented the studied market. Moreover, 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.
Key Market TrendsIT and Telecommunication Segment to Have a Significant Growth Rate
  • The telecommunications industry is flourishing owing to an increased R&D activity in the sector. As per the 2021 annual wireless industry survey of Certified Threat Intelligence Analysts (CTIA). Mobile wireless data traffic reached 42 trillion MBs, a 207% increase from 2016.
  • Communications signals were found only in specific telecommunications applications. Now they are common occurrences in most consumer and business products. Almost every major electronic equipment, like faxes, telephones, and computers, is networked, and it seems as if everyone owns a wireless communications device like a cellular phone.
  • As communications circuitry becomes more common in consumer products, design and test engineers must represent and verify communications signals in addition to digital and analog signals. Because these products must be designed quickly, and verifying communications signals is a relatively new task for many engineers, a test solution, such as an oscilloscope, is essential.
  • The upcoming 5G technology is expected to become the industry standard for telecommunications, heralding a new era of connectivity, speed, and possibility. Mobile networks will be 100 times faster and 1,000 times larger than they are now. With the increase of 5G technology, few vendors are trying to launch their 5G services in towns and cities. Adding these communication services will drive the market for oscilloscopes because oscilloscopes are used for testing communication signals in the telecom industry. For instance, in August 2022, Bharti Airtel will launch 5G services later this month to cover 5,000 towns and cities by March 2024. This will drive the market for oscilloscopes.
  • For instance, in April 2022, the Ministry of Communications stated that Telecom Service Providers/Infrastructure Providers install mobile towers to improve network coverage and capacity, subject to techno-commercial feasibility and the rollout obligation. The government has established the Universal Service Obligation Fund (USOF) to plan and implement various schemes to build mobile towers and provide telecommunications services to people in the country's rural and remote areas. Oscilloscopes are used in the telecommunication industry to improve network coverage and capacity.
Asia Pacific is Expected to Register the Fastest Growth During the Forecast Period
  • With the increasing applications and demand for oscilloscopes in the market, the companies have been collaborating on the manufacturing of oscilloscopes in the Asia-Pacific region.
  • For instance, in August 2022, Advantest Corp. collaborated with the Rohde & Schwarz RTP high-performance oscilloscope for mass production evaluation of high-speed SoC testers. In line with this collaboration, the company aims to improve the quality as per the latest requirements.
  • The unit is expected to have a high-speed rise time of 33 per second and a powerful, highly stable jitter analysis function with the decomposition algorithm, which enables accurate and simpler accurate system measurements. Further, Advantest also collaborated with R&S RTP high-performance oscilloscope for its high acquisition rate and signal integrity. Such collaborations among the companies in the region are expected to promote the market growth of oscilloscopes in the Asia-Pacific region.
  • Owing to the COVID-19 pandemic, the need for mobile networks has increased drastically. As per the Ericsson Mobility Report, in India, Nepal, and Bhutan, total mobile data traffic in the India region is estimated to grow by a factor of 4 between 2021 and 2027. This is driven by high growth in the number of smartphone users and an increase in average usage per smartphone. The average data traffic per smartphone in the India region is the second highest globally.
  • Further, mobile networks continue to play a pivotal role in driving social and economic inclusion as service providers in India prepare to launch 5G this year. In line with such an increase in the adoption of network services in the Asia-Pacific region, the need for jitter analysis is bound to increase in the market.
Competitive Landscape

The Oscilloscope Market is profoundly competitive. The players within this market compete in manufacturing faster, smaller, and cost-effective devices. The market changes with the changes in technology. This phenomenon keeps it competitive as each competitor can seek an opportunity to create something more advanced before the others do.

  • April 2022 - Keysight Technologies, Inc., a global technology company, released the industry‚Äôs first oscilloscope-based automotive protocol trigger/decode solution (D9010AUTP) covering CAN XL (Controller Area Network eXtraLong) that enables engineers to verify and debug low-speed automotive serial bus protocols and simplify the development and troubleshooting of systems including CAN/CAN FD (Flexible Data Rate) and CAN XL.
  • February 2022 - Tektronix Inc. (Fortive) introduced PCI Express 6.0 compatible Base transmitter test solution for Oscilloscopes. The solution is expected to enhance PAM4 DSP capabilities and noise compensation on the oscilloscope for increased accuracy of results.
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute
4.2.5 Intensity of Competitive Rivalry
4.3 The Impact of COVID-19 Pandemic on the Market
5.1 Market Drivers
5.1.1 Increasing Need For Accuracy And Speed In Designing, Manufacturing, or Repairing Industries
5.2 Market Restraints
5.2.1 High Maintanance Cost And Lacking Ease of Use
6.1 Component
6.1.1 Hardware
6.1.2 Software
6.2 Type
6.2.1 Analog
6.2.2 Digital
6.2.3 PC-Based
6.3 End-User
6.3.1 Medical and Life Sciences
6.3.2 Engineering
6.3.3 Automotive
6.3.4 IT and Telecommunications
6.3.5 Consumer Electronics
6.3.6 Aerospace and Defense
6.3.7 Other End User Industries
6.4 Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
7.1 Company Profiles
7.1.1 Tektronix, Inc.
7.1.2 Keysight Technologies Inc.
7.1.3 Rohde & Schwarz GmbH & CoKG
7.1.4 Teledyne LeCroy Inc.
7.1.5 Yokogawa Test & Measurement Corporation
7.1.6 National Instruments Corporation
7.1.7 Rigol Technologies, Inc.
7.1.8 Fluke Corporation
7.1.9 Siglent Technologies Co. Ltd
7.1.10 Pico Technology
7.1.11 B&K Precision Corporation
7.1.12 Scientech Technologies Pvt. Ltd.

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