The growing electronics industry and rapid industrialization across the globe is expected to drive the demand for global digital multimeter market in forecast period.

According to TechSci Research report, “Global Digital Multimeter Market By Type (Handheld, Bench-Top, Mounted) By Functionality (Auto Ranging, Clamp Digital, Fluke Digital) By Application (Automotive, Manufacturing, Consumer Electronics, Industrial, Residential, Commercial), By Region, Company Forecast & Opportunities, 2026”, The global digital multimeter market is expected to witness significant growth in the forecast period. A digital multimeter is an electronic measuring instrument and can measure multiple electric parameters such as voltage, current, resistance in case of occurrence of a fault in any electronic device. A Digit multimeter is also used to test the continuity between the two points in an electric circuit. The rising trend of digitization and the supportive government policies and schemes supporting the implementation of digital technology in all prominent industry verticals is contributing to the growth of the global digital multimeters market in the predicted period. Cost-effectiveness, portable nature, and the ability of dual display of the digital multimeters are influencing the demand for the digital multimeters across the globe. The growing integration of the distributed generation in the power system with the technologically advanced meters is expected to pave the way for the digital multimeters market growth in the next five years.

The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected several countries adversely. Coronavirus-affected patients started suffering from shortness of breath along with coughing and sneezing. Leading authorities around the globe imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Manufacturing units were temporarily shut down and the workers moved back to their native places which led to the shortage of the workforce. Disruption in the supply chain was observed which negatively affected the growth of the digital multimeter market.

However, the lack of compatibility and high installation cost of the digital multimeters may restrain the growth of the digital multimeters market in the forecast period.

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The global digital multimeter market is segmented into type, functionality, application, regional distribution, and company. Based on the application, the market can be divided into automotive, manufacturing, consumer electronics, industrial, residential, and commercial. The automotive segment is expected to witness the fastest incremental growth in the forecast period, 2022-2026. The rise in the demand for electric vehicles and the integration of advanced technology to incorporate automation technology in automobiles is expected to foster the digital multimeter market growth. The surge in the demand for self-driving cars for increased convenience is further expected to spur market growth. Based on the functionality, the market can be divided into auto-ranging, clamp digital, fluke digital. The auto-ranging segment is expected to hold a significant share in the forecast period owing to the increasing demand for electronic devices and smart home appliances due to the rise of the affordability of consumers and the availability of high-speed internet services. Auto-ranging multimeters can be easily operated and can measure a similar electrical parameter of different ranges without needing any manual adjustments. Based on the type, the market can be divided into handheld, bench-top, and mounted. The handheld segment is expected to account for a major market share in the next five years owing to its high demand in the automotive and energy industries. Handheld digital multimeters are portable and cost-effective which makes them a preferred measuring device.

Rohde & Schwarz, Agilent Technologies, The Danaher Corporation, Fluke Corporation, Hioki E.E. Corporation, Mastech Group Limited, Innova Electronic Corporation, Kaito Electronics Inc., Etekcity Corporation, Klein Tools are the leading players operating in global digital multimeter market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several digital multimeter manufacturers are coming up with their technologically advanced offerings.

“Market players are investing huge investments for technological up-gradation of the existing infrastructure which have enabled the integration of other measuring instruments such as infrared thermometers and insulation testers with the multimeter to improve the performance and efficiency of the digital multimeter. Innovative features such as dielectric absorption, polarization index, amongst others are added to the digital multimeter devices.  The high demand from the automotive industry and the introduction of novel products by the market players are expected to propel the digital multimeters market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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“ Global Digital Multimeter Market By Type (Handheld, Bench-Top, Mounted) By Functionality (Auto Ranging, Clamp Digital, Fluke Digital) By Application (Automotive, Manufacturing, Consumer Electronics, Industrial, Residential, Commercial), By Region, Company Forecast & Opportunities, 2026 ”  has evaluated the future growth potential of global digital multimeter market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global digital multimeter market.

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