LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global industrial multimeters market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
According to Technavio market research analysts, the global industrial multimeters market will grow at a CAGR of over 3% during the forecast period. One of the major end-users of multimeters is the semiconductor industry. Within the industry, multimeters are mainly used for diode measurement and testing. Before building any circuit, it is compulsory to test every semiconductor to be used in the project. Moreover, multimeters in the semiconductor industry are also used for other applications like sensor and production testing, voltage, reference testing, and research and development.
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In this report, Technavio highlights the advent of thermal imaging multimeters as one of the key emerging trends in the global industrial multimeters market:
Advent of thermal imaging multimeters
Over the past few years, the thermal imaging technology has progressed as one of the most valuable diagnostic tools for the majority of the industrial applications. By detecting irregularities that are usually invisible to the normal eye, thermal imaging allows corrective action to be executed prior to failures of expensive systems. Moreover, the growing need to find downtime, combined with increased demand in security and surveillance applications in the industrial sector has led to a rise in the use of multimeters with thermal imaging capabilities.
“Built-in thermal camera sensors, intuitive user interface, large display screen, onboard laser pointer, LED work lights, multiple measurement functions such as TrueRMS, variable frequency drive, low impedance, non-contact voltage, and advanced contact measurement are some of the other benefits of thermal imaging multimeters,” says a senior analyst at Technavio for research on automation.
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Global industrial multimeters market segmentation
This market research report segments the global industrial multimeters market into the following end-users (OEMs, in-house industrial users, and third-party service providers) and key regions (the Americas, APAC, and EMEA).
The OEMs segment held the largest market share in 2017, accounting for nearly 45% of the market. The market share for this end-user is expected to increase by 2022. The fastest growing end-user is in-house industrial users, which will account for nearly 32% of the total market share by 2022.
APAC was the leading region for the global industrial multimeters market in 2017, accounting for a market share of nearly 38%. By 2022, APAC is expected to continue dominating the market and register the highest growth.
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