Electricity And Signal Testing Instruments Market
Electricity and Signal Testing Instruments Market Forecasts to 2030 - Global Analysis By Service Type (Calibration Services, Repair Services and After-Sales Services, Maintenance Services and Other Service Types), Type (Electricity Testing Instruments, Oscilloscopes, Multimeters and Other Types) and By Geography
According to Stratistics MRC, the Global Electricity and Signal Testing Instruments Market is accounted for $71.24 billion in 2024 and is expected to reach $113.68 billion by 2030 growing at a CAGR of 8.1% during the forecast period. Electricity and signal testing instruments are essential tools used to measure, analyze, and troubleshoot electrical and electronic systems. Electricity and signal testing instruments are essential tools for diagnosing and ensuring the proper functioning of electrical systems and communication networks. Clamp meters provide a safe, non-contact method to measure current, especially in high-voltage applications. Signal testers, such as signal generators and analyzers, are critical for evaluating the performance of communication systems, from basic wiring to complex radio-frequency signals.
According to the International Energy Agency (IEA), more than 70% of the growth in global electricity demand over the next three years will come from the People's Republic of China, India, and Southeast Asia.
Market Dynamics:
Driver:
Rising focus on energy efficiency and sustainability
The growing emphasis on energy efficiency and sustainability is influencing the development of electricity and signal testing instruments. As industries and governments strive to meet environmental targets and reduce carbon footprints, these instruments are evolving to support greener practices. Testing equipment is now being designed with energy-efficient features, allowing for more accurate diagnostics and optimizing energy consumption in power systems. Advanced sensors and real-time monitoring technologies enable better performance evaluation, helping to detect inefficiencies and faults that could lead to energy waste. Additionally, the shift toward renewable energy sources like solar and wind requires more sophisticated testing instruments to ensure their integration into existing grids is seamless and effective.
Restraint:
Economic instability
Economic instability has a significant impact on industries that rely on advanced technology, such as the production and testing of electricity and signal testing instruments. In periods of economic uncertainty, companies may face reduced investment, leading to slower innovation and a lack of resources for research and development. The rising costs of raw materials, labor, and energy can also increase the production costs of these specialized instruments, making them less affordable for businesses and consumers alike. However, global supply chain disruptions, often exacerbated by economic instability, delay the delivery of crucial components, hindering manufacturing processes.
Opportunity:
Rising adoption of smart grids
Smart grids leverage advanced technologies like IoT, AI, and automation to optimize electricity distribution, improve reliability, and enable real-time monitoring. This transformation demands highly accurate and reliable testing instruments to assess and ensure the performance of these sophisticated systems. Electricity testing instruments, such as advanced multimeters, power analyzers, and oscilloscopes, are now equipped with enhanced features to measure complex parameters, including power quality, frequency stability, and harmonics in real-time. Signal testing instruments also play a crucial role in evaluating communication signals within the smart grid infrastructure, ensuring data integrity and secure communication between devices.
Threat:
Lack of skilled workforce
The lack of a skilled workforce is significantly hindering the development and deployment of electricity and signal testing instruments. These instruments are crucial for ensuring the safety, accuracy, and efficiency of electrical systems, but their complexity requires specialized knowledge and expertise. As technologies evolve, the demand for professionals with advanced skills in electrical engineering, instrumentation, and signal processing grows, yet the supply remains insufficient. This skills gap leads to several challenges, including delays in product development, poor calibration of testing equipment, and suboptimal performance in real-world applications. Without proper training, there is an increased risk of equipment malfunction, safety hazards, and costly errors. Companies struggle to find qualified technicians and engineers who can manage sophisticated testing instruments, thereby slowing down innovation and impeding the overall progress of the electrical and communication industries.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the manufacturing, distribution, and testing of electrical and signal testing instruments. Global supply chains were disrupted due to factory shutdowns, reduced workforce availability, and travel restrictions, leading to delays in production and delivery. This, in turn, affected industries relying on these instruments for diagnostics, maintenance, and troubleshooting, such as telecommunications, power generation, and manufacturing. With restricted access to testing and calibration facilities, companies faced challenges in ensuring the accuracy and reliability of their equipment. The pandemic also led to a shortage of skilled professionals, as many technicians and engineers faced restrictions or health concerns, slowing down the pace of testing and installation services.
The Calibration Services segment is expected to be the largest during the forecast period
Calibration Services segment is expected to dominate the largest share over the estimated period as it focuses on improving the accuracy, reliability, and performance of these critical devices. As industries rely on precise measurements to ensure safe and efficient operations, the need for high-quality calibration has become increasingly important. Calibration services play a key role in verifying that testing instruments, such as multimeters, oscilloscopes, power analyzers, and signal generators, meet stringent standards and perform within specified tolerances. This process ensures that electrical measurements are precise and consistent, reducing the risk of errors that could affect system performance, safety, and compliance. By integrating advanced technologies like automation, digital tools, and AI-driven calibration techniques, service providers are able to enhance the efficiency and scalability of their operations.
The Oscilloscopes segment is expected to have the highest CAGR during the forecast period
Oscilloscopes segment is estimated to grow at a rapid pace during the forecast period. Oscilloscopes are vital tools used to visualize electrical signals, displaying voltage waveforms over time, which allows engineers and technicians to analyze the behavior of electrical components and systems. As technology progresses, modern oscilloscopes are becoming more sophisticated, offering higher bandwidth, faster sampling rates, and enhanced digital capabilities. Moreover, with the integration of features like touchscreen interfaces, cloud connectivity, and advanced data processing, oscilloscopes are becoming more user-friendly and versatile.
Region with largest share:
Asia Pacific region is poised to hold the largest share of the market throughout the extrapolated period. Compact, lightweight devices offer convenience for professionals who require portable solutions for on-site troubleshooting, maintenance and installations. Advancements in miniaturization and wireless technologies have led to the development of sophisticated testing instruments that maintain high accuracy and functionality while being easy to transport and use in various environments. The growing adoption of these portable solutions is further driven by the region's emphasis on infrastructure development, manufacturing, and digitalization, particularly in emerging markets.
Region with highest CAGR:
Europe region is estimated to witness the highest CAGR during the projected time frame. As countries focus on modernizing their energy grids, expanding renewable energy sources, and upgrading communication systems, the need for accurate and reliable testing tools has grown. These instruments are essential for ensuring the safety, efficiency, and stability of electrical networks and communication infrastructure. In particular, they are used to measure electrical parameters, detect faults, and ensure the proper functioning of power plants, substations, and transmission lines. With the European Union’s commitment to green energy and digital transformation, investments in infrastructure are not only upgrading existing systems but also laying the foundation for innovative technologies like smart grids and IoT-based solutions.
Key players in the market
Some of the key players in Electricity and Signal Testing Instruments market include Anritsu Corporation, B&K Precision Corporation, Dranetz Technologies, Inc, Fluke Corporation, Gossen Metrawatt GmbH, Keysight Technologies, Kyoritsu Electric Corporation, Lutron Electronics Co., Inc, Seaward Group, Siemens AG, Testo AG, Yokogawa Electric Corporation, Rohde and Schwarz, Advantest Corporation and Kikusui Electronics Corporation.
Key Developments:
In January 2023, Rohde and Schwarz introduced a new solution, Benchmarker 3, aiming to promote the development of online benchmarking. This advanced benchmarking solution enables mobile operators to effectively meet the growing challenges of technological advances, cost constraints, time constraints, and industry competitive pressures.
In August 2022, Germany-based Maschinenfabrik Reinhausen GmbH expanded its footprint in the high-voltage testing industry by acquiring Advanced Testing Systems Inc., a U.S.-based electrical testing and maintenance company, enhancing its product portfolio and presence in the U.S. market.
In October 2021, National Instruments announced the acquisition of NH Research, LLC, a specialist company in high-power test and measurement applications such as electric vehicles (EV) and batteries.
Service Types Covered:
• Calibration Services
• Repair Services and After-Sales Services
• Maintenance Services
• Other Service Types
Types Covered:
• Electricity Testing Instruments
• Oscilloscopes
• Multimeters
• Other Types
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Electricity and Signal Testing Instruments Market, By Service Type
5.1 Introduction
5.2 Calibration Services
5.3 Repair Services and After-Sales Services
5.4 Maintenance Services
5.5 Other Service Types
6 Global Electricity and Signal Testing Instruments Market, By Type
6.1 Introduction
6.2 Electricity Testing Instruments
6.3 Oscilloscopes
6.4 Multimeters
6.5 Other Types
7 Global Electricity and Signal Testing Instruments Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Anritsu Corporation
9.2 B&K Precision Corporation
9.3 Dranetz Technologies, Inc
9.4 Fluke Corporation
9.5 Gossen Metrawatt GmbH
9.6 Keysight Technologies
9.7 Kyoritsu Electric Corporation
9.8 Lutron Electronics Co., Inc
9.9 Seaward Group
9.10 Siemens AG
9.11 Testo AG
9.12 Yokogawa Electric Corporation
9.13 Rohde and Schwarz
9.14 Advantest Corporation
9.15 Kikusui Electronics Corporation
List of Tables
1 Global Electricity and Signal Testing Instruments Market Outlook, By Region (2022-2030) ($MN)
2 Global Electricity and Signal Testing Instruments Market Outlook, By Service Type (2022-2030) ($MN)
3 Global Electricity and Signal Testing Instruments Market Outlook, By Calibration Services (2022-2030) ($MN)
4 Global Electricity and Signal Testing Instruments Market Outlook, By Repair Services and After-Sales Services (2022-2030) ($MN)
5 Global Electricity and Signal Testing Instruments Market Outlook, By Maintenance Services (2022-2030) ($MN)
6 Global Electricity and Signal Testing Instruments Market Outlook, By Other Service Types (2022-2030) ($MN)
7 Global Electricity and Signal Testing Instruments Market Outlook, By Type (2022-2030) ($MN)
8 Global Electricity and Signal Testing Instruments Market Outlook, By Electricity Testing Instruments (2022-2030) ($MN)
9 Global Electricity and Signal Testing Instruments Market Outlook, By Oscilloscopes (2022-2030) ($MN)
10 Global Electricity and Signal Testing Instruments Market Outlook, By Multimeters (2022-2030) ($MN)
11 Global Electricity and Signal Testing Instruments Market Outlook, By Other Types (2022-2030) ($MN)
12 North America Electricity and Signal Testing Instruments Market Outlook, By Country (2022-2030) ($MN)
13 North America Electricity and Signal Testing Instruments Market Outlook, By Service Type (2022-2030) ($MN)
14 North America Electricity and Signal Testing Instruments Market Outlook, By Calibration Services (2022-2030) ($MN)
15 North America Electricity and Signal Testing Instruments Market Outlook, By Repair Services and After-Sales Services (2022-2030) ($MN)
16 North America Electricity and Signal Testing Instruments Market Outlook, By Maintenance Services (2022-2030) ($MN)
17 North America Electricity and Signal Testing Instruments Market Outlook, By Other Service Types (2022-2030) ($MN)
18 North America Electricity and Signal Testing Instruments Market Outlook, By Type (2022-2030) ($MN)
19 North America Electricity and Signal Testing Instruments Market Outlook, By Electricity Testing Instruments (2022-2030) ($MN)
20 North America Electricity and Signal Testing Instruments Market Outlook, By Oscilloscopes (2022-2030) ($MN)
21 North America Electricity and Signal Testing Instruments Market Outlook, By Multimeters (2022-2030) ($MN)
22 North America Electricity and Signal Testing Instruments Market Outlook, By Other Types (2022-2030) ($MN)
23 Europe Electricity and Signal Testing Instruments Market Outlook, By Country (2022-2030) ($MN)
24 Europe Electricity and Signal Testing Instruments Market Outlook, By Service Type (2022-2030) ($MN)
25 Europe Electricity and Signal Testing Instruments Market Outlook, By Calibration Services (2022-2030) ($MN)
26 Europe Electricity and Signal Testing Instruments Market Outlook, By Repair Services and After-Sales Services (2022-2030) ($MN)
27 Europe Electricity and Signal Testing Instruments Market Outlook, By Maintenance Services (2022-2030) ($MN)
28 Europe Electricity and Signal Testing Instruments Market Outlook, By Other Service Types (2022-2030) ($MN)
29 Europe Electricity and Signal Testing Instruments Market Outlook, By Type (2022-2030) ($MN)
30 Europe Electricity and Signal Testing Instruments Market Outlook, By Electricity Testing Instruments (2022-2030) ($MN)
31 Europe Electricity and Signal Testing Instruments Market Outlook, By Oscilloscopes (2022-2030) ($MN)
32 Europe Electricity and Signal Testing Instruments Market Outlook, By Multimeters (2022-2030) ($MN)
33 Europe Electricity and Signal Testing Instruments Market Outlook, By Other Types (2022-2030) ($MN)
34 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Country (2022-2030) ($MN)
35 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Service Type (2022-2030) ($MN)
36 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Calibration Services (2022-2030) ($MN)
37 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Repair Services and After-Sales Services (2022-2030) ($MN)
38 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Maintenance Services (2022-2030) ($MN)
39 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Other Service Types (2022-2030) ($MN)
40 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Type (2022-2030) ($MN)
41 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Electricity Testing Instruments (2022-2030) ($MN)
42 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Oscilloscopes (2022-2030) ($MN)
43 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Multimeters (2022-2030) ($MN)
44 Asia Pacific Electricity and Signal Testing Instruments Market Outlook, By Other Types (2022-2030) ($MN)
45 South America Electricity and Signal Testing Instruments Market Outlook, By Country (2022-2030) ($MN)
46 South America Electricity and Signal Testing Instruments Market Outlook, By Service Type (2022-2030) ($MN)
47 South America Electricity and Signal Testing Instruments Market Outlook, By Calibration Services (2022-2030) ($MN)
48 South America Electricity and Signal Testing Instruments Market Outlook, By Repair Services and After-Sales Services (2022-2030) ($MN)
49 South America Electricity and Signal Testing Instruments Market Outlook, By Maintenance Services (2022-2030) ($MN)
50 South America Electricity and Signal Testing Instruments Market Outlook, By Other Service Types (2022-2030) ($MN)
51 South America Electricity and Signal Testing Instruments Market Outlook, By Type (2022-2030) ($MN)
52 South America Electricity and Signal Testing Instruments Market Outlook, By Electricity Testing Instruments (2022-2030) ($MN)
53 South America Electricity and Signal Testing Instruments Market Outlook, By Oscilloscopes (2022-2030) ($MN)
54 South America Electricity and Signal Testing Instruments Market Outlook, By Multimeters (2022-2030) ($MN)
55 South America Electricity and Signal Testing Instruments Market Outlook, By Other Types (2022-2030) ($MN)
56 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Country (2022-2030) ($MN)
57 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Service Type (2022-2030) ($MN)
58 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Calibration Services (2022-2030) ($MN)
59 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Repair Services and After-Sales Services (2022-2030) ($MN)
60 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Maintenance Services (2022-2030) ($MN)
61 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Other Service Types (2022-2030) ($MN)
62 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Type (2022-2030) ($MN)
63 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Electricity Testing Instruments (2022-2030) ($MN)
64 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Oscilloscopes (2022-2030) ($MN)
65 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Multimeters (2022-2030) ($MN)
66 Middle East & Africa Electricity and Signal Testing Instruments Market Outlook, By Other Types (2022-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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