LCR meters have been relevant from olden days and are relevant till now. They are predicted to be relevant for future as well because the use of electronic devices will not fade but increase. As the name suggests, an LCR meter measures inductance (L), capacitance (C) and resistance (R) factors of any electronic device.
In early days, bridge circuits also served the purpose of measuring these three components. Nowadays, advanced electronic machines need such measurements and LCR meter can be used. Different types of electronic devices or machines need measuring of their LCR factor with the help of meters of different levels.