India 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, FY2027

India Digital Multimeter market is expected to grow at a significant CAGR during the forecast period, FY2023-FY2027. The rise in the disposable income of the consumers increased the expenditure capacity to buy electronic devices. The high demand for consumer electronic devices requiring the digital multimeter to check the faults and proper functioning to deliver quality products is contributing to the market growth. Digital multimeters are multi-functional and cost-effective. It also has dual display resolution and is portable and that is the major reason for their high preference over voltmeters and ohmmeters. The continuous growth of the population is creating the need for different products thereby fueling industrialization in the country. To provide quality products to customers and increase the accuracy levels for resistor, frequency, transistor, and temperature. The rise in the initiatives made by the leading authorities to implement digitization across the prominent industry verticals to increase transparency and streamline the overall process with minimal chances of error is expected to boost the demand of the digital multimeter market. Market players are investing huge amounts for technological up-gradation of the existing infrastructure and introducing novel products with innovative features like dielectric absorption, earth-bond resistance, and polarization index which is expected to accelerate the digital multimeter market growth in the next five years.

India Digital Multimeter market is segmented into type, functionality, application, regional distribution, and company. Based on the functionality, the market can be divided into auto ranging, clamp digital, fluke digital. The auto ranging digital multimeter segment is expected to witness growth in the forecast period, FY2023-FY2027. They can change their internal range to find the correct voltage, current and there is no need to know the range of the component used in the electrical device. It minimizes the chances of human error and provides the required value by itself.

The major players operating in the India Digital Multimeter market are Fluke Corporation, Meco Instruments, Mastech Group, HTC Corporation, EGK, Metravi Instruments, Kusam-meco, Crown Electronic Systems, Motwane, and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Years considered for this report:

Historical Years: FY2017-FY2020

Base Year: FY2021

Estimated Year: FY2022

Forecast Period: FY2023–FY2027

Objective of the Study:

• To analyze the historical growth of the market size of India Digital Multimeter market from FY2017 to FY2020.
• To estimate and forecast the market size of India Digital Multimeter market from FY2021 to FY2027 and growth rate until FY2027.
• To classify and forecast India Digital Multimeter market based on type, functionality, application, regional distribution, and company.
• To identify dominant region or segment in the India Digital Multimeter market
• To identify drivers and challenges for India Digital Multimeter market
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India Digital Multimeter market.
• To identify and analyze the profile of leading players operating in India Digital Multimeter market.
• To identify key sustainable strategies adopted by market players in India Digital Multimeter market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of India Digital Multimeter market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Digital Multimeter manufacturing companies
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances related to Digital Multimeter market

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India Digital Multimeter market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         India Digital Multimeter Market, By Type:

• Handheld
• Bench-Top
• Mounted
• India Digital Multimeter Market, By Functionality:
• Auto Ranging
• Clamp Digital
• Fluke Digital
• India Digital Multimeter Market, By Application:
• Automotive
• Manufacturing
• Consumer Electronics
• Industrial
• Residential
• Commercial
• India Digital Multimeter Market, By Region:
• North
• South
• East
• West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Digital Multimeter market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).