Global Digital Multimeter Market Set for Strong Growth Through 2031, Says Reed Intelligence

According to a new report by Reed Intelligence, the global digital multimeter market is projected to grow at a robust CAGR of ~5.2% between 2023 and 2031.

Market Size and Forecast

Base Year (2023): The market is analyzed starting from 2023.

Forecast Period: 2023–2031.

Compound Annual Growth Rate (CAGR): ~5.2% over the forecast period.


Key Highlights

Largest Region (by market size): Asia Pacific, driven by its sheer size, emerging economies, and rapidly growing electronics demand.

Fastest-growing Region: While exact regional CAGR is not numerically broken out, Reed Intelligence notes that APAC markets are "experiencing remarkable growth" due to emerging economies and local competitive players.

Largest Segmentation by Type: Handheld digital multimeters remain dominant.

Fastest-growing Segmentation: Application-wise, industrial manufacturing is a major segment; the combination of new features such as connectivity, mobile app integration, and AI capabilities is driving opportunities.