New York, USA, June 24, 2021 (GLOBE NEWSWIRE) – Market overview:
According to a comprehensive research report by Market Research Future (MRFR) “Global Test and measurement equipment market Information by product, by wireless test device, by component and region – forecast to 2027The market was valued at $ 23,320.4 million in 2018 and is projected to reach $ 30,400.8 million by 2025 with an average annual growth rate of 4.85%.
Test and measurement equipment, in simple terms, is the equipment that is used to develop and manufacture a service or product in order to ensure the highest level of customer satisfaction with services and products. They play a central role in providing service and product quality to the customer. Some of its components include value-added accessories, connectors, and cable assemblies, and its various applications include telecommunications, automotive, aerospace and defense, healthcare and medical devices, industrial and manufacturing, and electronics and semiconductors.
Major Dominant Players in the Covered Test & Measurement Equipment Market are:
- Spectris PLC (UK)
- Fortive Corporation (USA)
- VIAVI Solutions Inc (USA)
- IKM Instrutek AS (Norway)
- Anritsu Corporation (Japan)
- Yokogawa Electric (Japan)
- EXFO INC (Canada)
- ADVANTEST Corporation (Japan)
- Keysight Technologies (USA)
- Teledyne Technologies Incorporated (USA)
- National Instruments (USA)
- Spirent communications PLC (USA)
- ROHDE & SCHWARZ (Germany)
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According to the MRFR report, there are numerous factors driving the growth of the test and measurement equipment market. These include increasing demand in various end-user industries such as healthcare, semiconductors and electronics, education and government, IT and telecommunications, aerospace and defense, and automotive and transportation, the development of new medical devices, personal emergency reporting systems and patient monitoring systems, the increasing adoption of IoT devices and electronic devices, the advent of 5G technology, the provision of 4G networks and the proliferation of modular instruments. Other factors driving market growth are the technological advances made by manufacturers of test and measurement devices in the direction of communication and networking, the growing demand for energy-efficient and high-performance electronic devices, the growing demand for electronic devices and the rapid spread of IoT devices.
On the contrary, the high cost of test and measurement equipment, the penetration of rental and leasing services, the lack of protocols and standards, and the lack of skilled labor can limit the global growth of the test and measurement equipment market over the forecast period.
Search the detailed market research report (264 pages) on test and measurement devices:
Segmentation of the Market Covered In Research:
The market research future report offers a comprehensive analysis of the Test and Measurement Equipment market based on component, service, product, and application.
According to components, the global market for test and measurement devices is divided into value-adding accessories, connectors and cable assemblies. Of these, cable assemblies will lead the market in the forecast period.
In terms of service, the global market for test and measurement devices is divided into professional services and managed services. The professional services are in turn divided into repair / support and maintenance services, integration services and consulting services. Of these, professional services will lead the market in the forecast period.
By products, the global Test & Measurement Equipment Market is segmented into Semiconductor Test Equipment, Wireless Test Equipment, and RF Test Chambers. The semiconductor test equipments are in turn divided into signal generators, analyzers, oscilloscopes, measuring instruments, thermal imagers, bit error ratio testers (BERT), general purpose test equipments and others. The wireless test equipment, in turn, is divided into spectrum analyzers, logic analyzers, network simulators, and network analyzers. Of these, the general-purpose test equipment segment will dominate the market in the forecast period.
By application, the global test and measurement equipment market is segmented into telecommunications, automotive, aerospace and defense, healthcare and medical devices, industrial and manufacturing, and electronics and semiconductors. The automotive segment will lead the market in the forecast period.
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Regional take-away food
APAC remains a leader in the test and measurement equipment market
By region, the global Test and Measurement Equipment market covers growth opportunities and the latest trends in Europe, Asia Pacific (APAC), North America, South America, and the Middle East and Africa (MEA). Of these, the APAC region will remain at the forefront over the forecast period. Increasing demand in IT and telecommunications industries, some positive initiatives in China, India and Japan, encouraging research and development centers to test products, introducing new communication network technologies and trying new frequency ranges, a wide range of electronic products, compliance with new standards, the Encouraging governments to support domestic businesses and the strong presence of leading manufacturers of consumer electronic devices such as game consoles, smartphones and laptops. China has the largest market share as it is the hub for semiconductor manufacturing and manufacturing and is also involved in the development and implementation of the Internet of Things.
North America with remarkable growth in the test and measurement equipment market
Remarkable growth is forecast for the test and measurement equipment market in North America during the forecast period, as growing demand from various end-use sectors such as electronics, electrics and automobiles as well as the presence of several top players in the industry increase.
Impact of COVID-19 on the Global Test and Measurement Equipment Market
The COVID-19 pandemic had a positive effect on the growth of the market for test and measurement devices due to the high demand for efficient diagnostic devices. This is used to quickly identify COVID-19 cases and take appropriate action to contain its spread. Vaccine and remedy development can rely on the laurels of effective testing and measuring equipment. In addition, the digital transformation can have a positive impact on market growth across various industries.
In Q1 2020, the outbreak threw the market’s supply and demand chain off balance due to lockdowns and government-imposed trends towards physical distancing. This interruption had resulted in several companies struggling in the test and measurement market during such urgent times. Fortunately, with the loosening of the lockdowns, the global economy is slowly and steadily recovering and will likely get back on track soon.
February 2021- Logic Fruit and Achronix have introduced IP solutions for various test and measurement applications.
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