Press release
Digital Multimeter Market: Global Industry Analysis and Opportunity Assessment by 2025
Digital Multimeters are widely used across many industries because of better accuracy level. The highest frequency of analog multimeter using rectifiers on AC range is about 2KHz. For digital multimeter range is higher than analog multimeter. In digital multimeter, input resistance is constant for all the ranges to be measured unlike analog multimeter. Digital Multimeter is used to troubleshoot electrical problems in a wide array of industrial and household devices such as electronic equipment, motor controls, domestic appliances, power supplies, and wiring systems.
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Digital Multimeter Market: Drivers and Restraints
Primary driver for Digital Multimeter market is the multi functionality and features such as accuracy, flexible to use, portability, dual display resolution, and Lifetime warranty. These features and multi functionality expected to increase the demand for Digital Multimeter. Adoption electronic devices across many industry verticals is increasing steadily year on year. This development made the digital multimeter’s usage by electrical professionals to measure the voltage, current and resistance of electronics devices also increasing.
Even though digital multimeter is a valuable and indispensable tool for the electrical professional, it does have certain limitations. Digital multimeter’s power factor represents the voltage-ampere loss in a system due to reactance. Poor power factor means utility penalty charges, and these charges can be corrected with the installation of power factor correction systems. Short variations in voltages, often due to lightning strikes and load switching can cause equipment to shut down. There is a huge demand for used and/or rented digital multimeter for general Purpose testing of electronic devices. Some electrical professionals doesn’t use digital multimeters on a regular/daily basis. Due to this many electrical professionals sometimes borrow the digital multimeters from their co-workers or rent the digital multimeter when it is required. These factors restraining the growth of digital multimeter market.
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Global Digital Multimeter Market Technology Trends
Many companies have started to sell hybrid or two-in-one kind of digital multimeters. There are many digital multimeters which combines multimeters and power supply to address specific testing needs. Digital multimeters can store the readings or perform automated data logging, which is an essential feature when repetitive test is required for qualification or troubleshooting.
Global Digital Multimeter Competitive Landscape
Some of the major Digital Multimeter vendors include Fluke, UNI-T, Shen Zhen Victor Hi-tech, Xinling, MASTECH, HIOKI, Agilent, Atten Technology, Proskit, Leierda, B&K Precision, Amprobe, FLIR, Klein Tools, Triplett, AEMC among others.
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