Global Test & Measurement Equipment Market Research Report: By Product (General Purpose, Mechanical), Service (After Sales Services, Calibration Services), Application (Automotive, IT & Telecommunication, Electronics & Semiconductor) – Forecast till 2023
The worldwide test and measurement equipment market size is estimated to expand at a CAGR close to 4% from 2017 to 2023 (forecast period), according to a report by Market Research Future (MRFR). Its valuation is expected to touch USD 28 Bn. by 2023. Test and measurement equipment comprise devices which can display accurate values of electronic devices. Strict regulations and quality standards pertaining to these devices are expected to drive its demand during the forecast period.
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Drivers and Restraints
Increasing adoption of modular equipment and adoption of consumer electronic devices are factors anticipated to boost market demand. Popularity of Internet of Things (IoT) and increased budget on quality assurance can elicit demand for test & measurement equipment. Continuous advances in technology coupled with innovations are boosting market growth. Development of the 5G network technology and application in sectors such as automotive and healthcare can open up new growth opportunities. Lack of awareness and variations in price wars of products can pose a challenge to market growth.
Some of the prominent players in the global Test and Measurement Equipment Market are Fortive (U.S.), Rohde & Schwarz (Germany), Anritsu Corporation (Japan), Keysight Technologies (U.S.), Yokogawa Electric Corporation (Japan), National Instruments Corporation (U.S.), EXFO (Canada), Advantest Corporation (Japan), Viavi Solutions (U.S.), Cobham plc. (U.K), Teledyne Technologies, Inc. (U.S.), and Texas Instruments Inc., (U.S.) among others.
The global test and measurement equipment market is a segmented product, service, and application.
The application segment is classified into automotive, aerospace & defense, electronics & semiconductors, industrial, education, IT & telecommunication, and healthcare. However, the industrial application sub-segment is expected to hold a major share of the global test and measurement equipment market during the forecast period. This is owing to the increasing dependency of business operations on industrial applications. The test and measurement equipment are being used at different stages of the product’s development lifecycle and hence are increasingly being deployed for testing industrial applications. However, the lack of awareness regarding the test and measurement equipment solutions and price sensitivity are major factors that could cause hindrance in the growth of global test and measurement equipment market.
Regions covered in the test and measurement market report include Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW).
The APAC market is expected to dominate till 2023, followed by North America and Europe. Rise in technological breakthroughs in Japan and China is predicted to induce demand for testing solutions. Presence of well-established infrastructure coupled with implementation of latest technologies are factors spurring market growth. Presence of various original equipment manufacturers (OEMs), rise of telecommunication protocols, and semiconductor firms are anticipated to drive the market.
The Europe market is predicted to increase in size owing to regions such as the U.K. Rise in number of smartphone users, increase in IP traffic, and evolution of telecommunication standards are expected to fuel market demand in the coming years.
- Technology Investors
- Research/Consultancy Firms
- Government Bodies
- Consulting Service Providers
- Technology Providers
- System Integrators
- Software Vendors
- Web Content Developers
- Service Providers
- Cloud Platform Providers
- Mobile Application Developers
- Communication Service Providers (CSPs)
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TABLE OF CONTENTS
LIST OF TABLES
Table 1 Global Test And Measurement Equipment Market: By Region, 2017-2023
Table 2 North America Test And Measurement Equipment Market: By Country, 2017-2023
Table 3 Europe Test And Measurement Equipment Market: By Country, 2017-2023
Table 4 Asia Pacific Test And Measurement Equipment Market: By Country, 2017-2023
Table 5 The Middle East & Africa Test And Measurement Equipment Market: By Country, 2017-2023
Table 6 Latin America Test And Measurement Equipment Market: By Country, 2017-2023
Table 7 Global Test And Measurement Equipment By Product Market: By Regions, 2017-2023
Table 8 North America Test And Measurement Equipment By Product Market: By Country, 2017-2023
Table 9 Europe Test And Measurement Equipment By Product Market: By Country, 2017-2023
Table10 Asia Pacific Test And Measurement Equipment By Product Market: By Country, 2017-2023
Table11 The Middle East & Africa Test And Measurement Equipment By Product Market: By Country, 2017-2023
Table12 Latin America Test And Measurement Equipment By Product Market: By Country, 2017-2023
Table13 Global Test And Measurement Equipment By Service Market: By Regions, 2017-2023
Table14 North America Test And Measurement Equipment By Service Market: By Country, 2017-2023
Table15 Europe Test And Measurement Equipment By Service Market: By Country, 2017-2023
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