Digital Multimeter Market Updates

Global Digital Multimeter Market size was valued at USD 1.05 Billion in 2023 and is poised to grow from USD 1.09 Billion in 2024 to USD 1.55 Billion by 2032, growing at a CAGR of 4.5% in the forecast period (2025-2032).

The competitive landscape of the global digital multimeter industry is characterized by the presence of several established players and emerging companies striving for innovation and market expansion. Leading companies such as Fluke Corporation, Keysight Technologies, and Tektronix dominate the market due to their extensive product portfolios, strong R&D investments, and global distribution networks. These companies focus on integrating advanced technologies such as AI-driven diagnostics, wireless connectivity, and cloud-based data storage to enhance the functionality of digital multimeters. 'Fluke Corporation', 'Keysight Technologies', 'Tektronix, Inc.', 'Rohde & Schwarz GmbH & Co KG', 'Hioki E.E. Corporation', 'Yokogawa Electric Corporation', 'Gossen Metrawatt GmbH', 'Extech Instruments', 'B&K Precision Corporation', 'Agilent Technologies', 'UNI-T (Uni-Trend Technology)', 'Klein Tools, Inc.'

The rising adoption of electric and hybrid vehicles worldwide has significantly driven the demand for digital multimeters in the automotive sector. With the transition toward battery-powered vehicles, manufacturers and technicians require precise testing equipment to diagnose and maintain high-voltage batteries, charging stations, and electronic components. Additionally, governments across various regions are implementing stringent emission regulations and EV incentives, further accelerating the need for advanced digital multimeters for automotive applications.

Mooshim Engineering: Founded in 2017, Mooshim Engineering developed the Mooshimeter, a smartphone-based multimeter that allows users to measure voltage, current, and temperature remotely via Bluetooth. This innovation provides a safer and more convenient way to conduct electrical measurements. The Mooshimeter enhances safety by allowing users to take electrical measurements remotely via Bluetooth, reducing direct exposure to high voltages and hazardous environments. Its wireless, smartphone-based interface eliminates the need for holding probes while testing, making it more convenient for professionals working in tight or hard-to-reach spaces.

How is North America Advancing the Digital Multimeter Market?