Logic Analyzer Market by Type (Modular Logic Analyzers, PC-Based Logic Analyzers), Channel Count (2-32, 32-80, >80), Vertical (Electronics & Semiconductor, Automotive & Transportation, Aerospace & Defense), and Geography – Global Forecast to 2024
The logic analyzer market is projected to reach USD 387 million by 2024. Continuous R&D in the electronics industry has led to a rapid rate of technological changes, which are expected to fuel the growth of the logic analyzer market. Moreover, rapid penetration of IoT devices in critical applications such as automobile, healthcare, industrial, and aerospace & defense is also creating growth opportunities for the logic analyzer market players.
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The modular logic analyzers accounted for the largest share of logic analyzer market in 2019. This growth can be attributed to the growing demand for logic analyzers in the detection of faults in electronic devices, setting the threshold of digital signals, and monitoring the output signals of digital circuits in verticals such as electronics & semiconductor, industrial, automotive, and IT & telecommunications.
The logic analyzer market for >80 channel count is expected to grow at the highest CAGR during the forecast period. Manufacturers of microprocessors and microcontrollers are posing high demand for multiple input/output digital signal testing tools, which could easily debug and monitor all the input and output digital signals transmitted by processors or controllers. The advanced logic analyzers have steadily increased both their acquisition rates and channel counts to keep pace with rapid advancements in digital technology.
The electronics & semiconductor vertical accounted for the largest share of the logic analyzer market in 2018. The growth of this segment can be attributed to the high demand for logic analyzers in the testing of electronic products at all stages of the product lifecycle, as it ensures enhanced performance, less power consumption, and high reliability of these products.
North America led the logic analyzer market in 2019. The market in this region is expected to be driven by the demand for signal testing and debugging tools from various verticals, such as automotive and transportation, and aerospace & defense. The region is expected to witness maximum adoption of logic analyzers for devices used in autonomous cars and other systems in the near future. In addition, the shift toward connected cars and intelligent transportation systems, along with increasing investment in the aerospace & defense vertical, is expected to drive the logic analyzer market in the region in the near future.
