The report by the market research company IMARC Group said the current global oscilloscope market was valued at $ 2.1 billion in 2021, and is expected to increase in size by five percent annually to 2027.
Oscilloscopes are electronic test instruments that display varying signal voltages in detail and monitor changes with sensors.
They are used to manufacture, design, and repair electronics as well as for advanced analysis, communication mask testing and digital debugging of intermittent signals.
Current iterations of the technology often come with liquid crystal displays (LCD), which enable detailed signal measurement, data storage, fast calculations and automated analysis. Several manufacturers are also developing handheld instruments that rely on electrically isolated floating inputs and are battery-powered, the report noted.
According to IMARC’s report, the escalating demand for consumer electronics is contributing to the increased sales of oscilloscopes as they are used to measure waveforms in devices, such as computers, televisions and radios.
Elevating cybersecurity concerns in the defense and aerospace industries to achieve accurate measurements are anticipated to strengthen the market in the coming years, the report said.