- According to the study published by MarketsandMarkets(*), the global market for digital multimeters is expected to reach $1,047 million by 2024, up from $847 million in 2019.
- This market could grow at an average annual rate of 4.3% over the forecast period.
(*) “Digital multimeter market by type (portable, benchtop, mounted), measurement type (automatic, manual), application (automotive, energy, electronics and household appliances, medical equipment manufacturing) and region – Global forecast to 2024”.
The portable digital multimeter segment is expected to account for the largest share of the global digital multimeter market during the forecast period.
The segment of automatically adjustable range multimeters is expected to experience the strongest growth over the forecast period.
North America is expected to be the fastest growing market for DPM sales over the forecast period.