About Digital Megohmmeters
A digital megohmmeter is an electrical instrument that offers a quick and easy way to determine the condition of the insulation on wire, generators, and motor windings. It is used for testing insulation resistance to prevent damage from electrical systems and equipment. Digital megohmmeter measures very high resistance values by sending high voltage signals into the object. It is often used for monitoring machine health in the industries and to improve preventive maintenance.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Digital Megohmmeters market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Fluke Corporation (United States), Extech Instruments (United States), FLIR System (United States), AEMC Instruments (United States), Keysight Technologies (United States), Hioki E.E. Corporation (Japan), IET Labs (United States), Yokogawa Electric (Japan), Klein Tools (United States), Amprobe (United States), Burster (Germany) and Megger (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Digital Megohmmeters market by , Application (Test & Measurement, Industrial, Commercial, Electronics Service and Education) and Region.
On the basis of geography, the market of Digital Megohmmeters has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Voltage, the sub-segment i.e. AC Voltage will boost the Digital Megohmmeters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Digital Megohmmeters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Display, the sub-segment i.e. LCD will boost the Digital Megohmmeters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Investment for Development of Highly Innovative Megohmmeter for Insulation Measuring
Market Growth Drivers:
Increasing Use of Electrical Equipment and Electrical Systems in Various Verticals and Increasing Megger Testing in Industries and Automotive to Protect from Internal or External Damage of Electrical Systems
Challenges:
Availability of Other Alternatives of Digital Megohmmeters for Insulation Testing
Restraints:
High Cost of the Digital Megohmmeters Compared to Others
Opportunities:
Need for RPA and Heavy Electrical Machinery in Manufacturing Sector
Market Leaders and their expansionary development strategies
In October 2023, Keysight Technologies collaborates with National Instruments (NI) to develop an integrated platform for electrical safety testing. This partnership combines Keysight's expertise in digital megohmmeters and NI's strength in software and data acquisition, offering a comprehensive solution for manufacturers and service providers to comply with safety regulations.
In October 2023, Yokogawa has launched YT3580 Series Insulation Testers. This series boasts a high-resolution display, fast test times, and built-in insulation resistance and leakage current analysis for comprehensive electrical health assessment.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Digital Megohmmeters Manufacturers, Suppliers and Distributors of Digital Megohmmeters, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-User Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.