Research And Markets, a market and industry research corporation, released a report announcing the remarkable growth in the general purpose electronic test and measurement instruments market from the period 2022-2030. According to PRNewswire, the global market for General Purpose Electronic Test and Measurement Instruments is valued at US$7.5 billion in 2022 and is projected to reach US$15.6 billion by 2030, boasting a notable compound annual growth rate (CAGR) of 9.6% during the analysis period of 2022-2030.
The report highlights that Digital Oscilloscopes and Extension-Based T&M Instruments are among the key segments driving this expansion. Digital Oscilloscopes are expected to record an impressive CAGR of 8.4%, reaching a market value of US$3 billion by the end of the analysis period. This growth is fueled by the increasing demand for precise measurement and analysis of electronic signals. On the other hand, the Extension-Based T&M Instruments segment is estimated to grow at an even higher CAGR of 12.4% for the next eight years. This growth is driven by advancements in technology that require more specialized testing and measurement tools.
Research And Markets, founded in 2002 and headquartered in Dublin, Ireland, is the world's largest market research store. They offer a diverse range of data and information, covering industries from automotive to telecommunications to zoology.
With such remarkable growth projected in the general purpose electronic test and measurement instruments market, it is clear that there is a growing demand for precise measurement and analysis tools in various industries. As technology continues to advance, the need for specialized testing instruments will also increase, driving further growth in this market.