Digital Multimeter Market Report 2026

The digital multimeter market size has grown steadily in recent years. It will grow from $1.18 billion in 2025 to $1.21 billion in 2026 at a compound annual growth rate (CAGR) of 2.9%. The growth in the historic period can be attributed to rise in electronics repair activities, growing industrial manufacturing demand, increasing use in automotive diagnostics, expansion of electrical testing requirements, rising adoption of bench top measuring instruments.

The digital multimeter market size is expected to see steady growth in the next few years. It will grow to $1.42 billion in 2030 at a compound annual growth rate (CAGR) of 4%. The growth in the forecast period can be attributed to growth in smart factory automation, increasing demand for connected test equipment, expansion of renewable energy installations, rising need for precision measurement tools, increasing integration of digital monitoring systems. Major trends in the forecast period include increasing adoption of smart connected multimeters, growth in automation driven measurement tools, rising use of data logging and cloud enabled testing, expansion of high precision and true rms multimeters, increasing integration of safety and overload protection features.

An increase in industrial automation is expected to drive the growth of the digital multimeter market going forward. Industrial automation refers to the use of robots, machines, and control systems to perform tasks traditionally carried out by humans. Digital multimeters (DMMs) are used to measure and validate electrical quantities such as voltage, current, and resistance. They are employed in industrial automation operations to troubleshoot electrical systems and detect malfunctions. For example, in September 2024, according to the International Federation of Robotics, a Germany-based non-profit organization, the global stock of industrial robots reached 4,281,585 units operating in factories in 2023, an increase of 10%. The annual installation figure was 541,302 units in 2023, compared with the record 552,946 units installed in 2022. Therefore, the increasing adoption of technology and automation across various industries is driving the growth of the digital multimeter market.

Companies in the digital multimeter market are embracing cutting-edge technologies, including digital multimeters equipped with infrared sensors, to maintain their competitive edge. A digital multimeter with an infrared sensor integrates a non-contact infrared thermometer for accurately measuring the surface temperatures of objects. For example, in May 2023, Teledyne FLIR LLC, a US-based thermography company, introduced the DM286 Infrared Guided Measurement (IGM) multimeter. The FLIR DM286 multimeter with IGM now features FLIR's unique multispectral dynamic imaging (MSX) technology, enhancing thermal image clarity in real time by incorporating visible light information. This system is designed to facilitate electricians in identifying hot spots and other potential trouble areas with greater ease, safety, and speed. It comes with a built-in visible-light camera, a Lepton thermal microcamera offering a thermal resolution of 160 x 120, and a powerful LED work light for utilizing MSX in low-light conditions.safety, and speed. It comes with a built-in visible-light camera, a Lepton thermal microcamera with 160 x 120 thermal resolution, and a powerful LED (light-emitting diode) work light for operating MSX in low light.

In October 2023, Emerson, a U.S.-based company specializing in automation and technology solutions, acquired National Instruments Corporation for an undisclosed amount. This acquisition was aimed at enhancing Emerson’s capabilities in test and measurement solutions, with a focus on integrating advanced technologies to drive efficiency and innovation across various industries. National Instruments Corporation, a U.S.-based provider, is known for its digital multimeters and other testing equipment.

Major companies operating in the digital multimeter market are Danaher Corporation, Agilent Technologies Inc., Tektronix Inc., Keysight Technologies Inc., Yokogawa Electric Corporation, Milwaukee Tool, Rohde and Schwarz GmbH and Co. KG, National Instruments Corporation, Fluke Corporation, Craftsman, Adlink Technology Inc., HIOKI E.E. Corporation, Mastech Digital Inc., Greenlee Tools, Ideal Industries Inc., Teledyne LeCroy Inc., TPI Corporation, Etekcity, Giga-Tronics Incorporated, Rigol Technologies Inc., GW Instek, Amprobe, AEMC Instruments, Simpson Electric Company, Sanwa Electric Instrument Co. Ltd., B&K Precision Corporation, Extech Instruments Corporation, Chauvin Arnoux Group, Gossen Metrawatt GmbH, AstroAI Corporation, Innova Corporation.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on electronic components, semiconductors, and imported testing equipment have increased production and procurement costs for digital multimeters, particularly impacting Asia Pacific and North American markets relying on cross border supply chains. Product categories such as bench top instruments and high precision sensors face the greatest cost pressures. However, tariffs are pushing manufacturers to localize production, redesign components for cost efficiency, and pursue alternative supply routes, which may lead to long term competitiveness improvements.

The digital multimeters market research report is one of a series of new reports that provides digital multimeters market statistics, including digital multimeters industry global market size, regional shares, competitors with a digital multimeters market share, detailed digital multimeters market segments, market trends and opportunities and any further data you may need to thrive in the digital multimeters industry. This digital multimeters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A digital multimeter is an instrument capable of simultaneously measuring two or more electrical quantities. It is designed to assess and verify a range of electrical parameters including voltage, current, and resistance.

Digital multimeters come in various product types such as handheld, bench-top, mounted, and others. Handheld devices are portable electronic instruments that can be operated with a single hand. Additionally, there are different ranging types available, including auto-ranging and manual ranging. These multimeters find applications across various industry sectors, including consumer electronics, automotive, power generation, healthcare, among others.Asia-Pacific was the largest region in the digital multimeter market in 2025. The regions covered in the digital multimeter market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the digital multimeter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The digital multimeter market consists of sales of basic digital multimeters, industrial digital multimeters, PC (personal computer)-based digital multimeters, test leads, alligator clips, temperature probes and calibration tools. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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