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 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 market players.
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Modular logic analyzers led logic analyzer market in 2019.
Modular logic analyzers accounted for the largest share of the logic analyzer market in 2019. The growth of this segment can be attributed to the wide acceptance of test instruments, such as modular logic analyzers, in functional and parametric validation of memory systems and other high-speed digital systems operating up to 4 Gbps. This type of analyzers comprises a chassis and various modules, including channel modules, and the number of modules is larger for the higher channel counts. Moreover, leading players offering modular logic analyzer include as Keysight Technologies (US), Fortive (US), National Instruments (US), and Teledyne LeCroy (US).
Electronics & semiconductor to account for largest share of logic analyzer market by 2019
The electronics & semiconductor sector is expected to lead the logic analyzer market by 2019. Logic analyzer manufacturers have numerous opportunities in the electronics & semiconductor vertical, on the back of the staggering size of the market for TV sets, video games, computers, smart metering, and cell phones. At the same time, electronics manufacturing is a highly competitive industry with challenging standards for reliability and performance; this drives the growth of the market for this vertical.
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 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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