The logic analyzer market is projected to reach USD 387 million by 2024. Increasing investment by test and measurement equipment manufacturers to launch new products in the electronics industry, and the rising demand for power-efficient and high-performance electronic devices are among the factors contributing to the growth of the global logic analyzer market. The rising number of features and modernization of vehicles in the automotive sector and high adoption of IoT-based devices in the electronics & semiconductor sector act as growth opportunities for the logic analyzer market players.
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PC-based logic analyzers to register highest CAGR in market during forecast 2019–2024
Based on type, the market for PC-based logic analyzers is expected to grow at the highest CAGR during the forecast period. Manufacturers of PC-based logic analyzers, including Scientech Technologies, Hantek Electronics, and GAO Tek, are involved in the production of PC-based logic analyzers, which spurs the growth of the market for this type of analyzers. In addition, the PC-based logic analyzers offer high-level performance using the power of the associated computer. Therefore, in the near future, the use of PC-based logic analyzers is expected to increase, as the cost of USB analyzers is much lower than that of other types.
Automotive and transportation vertical to register highest CAGR in market during forecast period
The logic analyzer market players have attractive growth opportunities in the automotive and transportation vertical as the automotive giants and other business leaders are increasingly investing in autonomous vehicles. The autonomous cars require high-speed, low-power, and compact electronic devices. However, it is necessary to check the performance of these devices during their production. Manufacturers use logic analyzers to test and analyze the performance of these electronic devices. This is likely to help the logic analyzer providers to gain huge opportunities from the automotive and transportation vertical in the near future.
Logic analyzer market in APAC to grow at highest CAGR during forecast period
The logic analyzer market in APAC is projected to grow at the highest CAGR from 2019 to 2024. This growth is attributed to high investments and expansions by logic analyzer manufacturers in APAC. Asian countries, such as Japan, China, and India, have been taking rapid initiatives to encourage industries to set up manufacturing and R&D facilities in their countries. For instance, the Indian government has started the “Make in India” program to attract huge foreign investment and businesses in the country. The strong presence of leading manufacturers of signal testing and analyzing equipment, such as Advantest Corporation and Yokogawa Electric Corporation, has created significant opportunities for the logic analyzer market players to grow in this region.
Key Market Players
Keysight Technologies (US), Fortive (US), Rohde & Schwarz (Germany), National Instruments (US), Yokogawa Electric (Japan), Teledyne (US), Advantest Corporation (Japan), ARM Limited (UK), GAO Tek (Canada), Rigol Technologies (China), Saleae, Inc (US), Good Will Instrument Co., Ltd. (Taiwan), Zeroplus Technology Co., Ltd (Taiwan), Qingdao Hantek Electronic Co., Ltd. (China), NCI Logic Analyzers (US), Scientech Technologies Pvt. Ltd. (India), OWON Technology (China), IKALOGIC (France), Red Pitaya (Europe), and GSAS Micro Systems Pvt Ltd. (India) are leading companies operating in the logic analyzer market.
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