Test and Measurement Equipment Market is predicted to reach USD 42.69 billion at a CAGR of 4.00% during the forecast period

Market Research Future has published a Cooked Research Report on the Global Test and Measurement Equipment Market.

MRFR recognizes the following companies as the key players in the global Test and Measurement Equipment Market — ROHDE&SCHWARZ (Germany), Spirent Communications PLC (U.S.), National Instruments (U.S.), Teledyne Technologies Incorporated (U.S.), Keysight Technologies (U.S.), ADVANTEST Corporation (Japan), EXFO INC (Canada), Yokogawa Electric (Japan), Anritsu Corporation (Japan), IKM Instrutek AS (Norway), VIAVI Solutions Inc (U.S.), Fortive Corporation (U.S.), and Spectris PLC (U.K.).

Market Highlights

The global Test and Measurement Equipment Market is accounted to register a CAGR of 4.00% during the forecast period and is estimated to reach USD 42.69 billion by 2030.

The Test and Measurement Equipment (T&M) market refers to the industry that produces instruments and devices used to test, analyze, and measure various parameters in different fields, such as electronics, telecommunications, manufacturing, aerospace, automotive, healthcare, and more. These instruments play a crucial role in ensuring the quality, reliability, and functionality of products and systems.

Segment Analysis

The global Test and Measurement Equipment Market has been segmented based on Components, application, and Service.

Based on Components, the Test and Measurement Equipment market segmentation includes Connectors, Cables assemblies and value-added accessories. The fastest gain in cable share is anticipated for 2021. Cabling projects in industrial applications, test labs, or automation environments present significant obstacles. For such applications, the cables and corresponding connections must be durable and have good transmission qualities.

Based on application, the Test and Measurement Equipment market segmentation includes Electronics & semiconductors, Industrial & Manufacturing, Healthcare & medical equipment, Aerospace & Defense, Automotive and Telecommunication. Due to the rising need for test and measurement equipment for medical devices, the healthcare and medical equipment sector is anticipated to see the highest CAGR growth among these throughout the projection period.

Based on Service, the Test and Measurement Equipment market segmentation includes Professional services (Integration service, Repair/support & maintenance Service & Consulting services) and Managed Services. The Test and Measurement Equipment market for the repair services industry will expand at the greatest CAGR throughout the anticipated period. Repair services are offered for flaws in the craftsmanship and materials. Repairing serves a similar role as troubleshooting, which entails finding and fixing flaws in a product at different stages of the product cycle. To provide 24/7 technical support, businesses communicate with their clients via toll-free phones, online chat, or emails. This shortens the turnaround time for test and measurement equipment service providers and improves the quality of the Product being inspected.

Regional Analysis

The global Test and Measurement Equipment Market, based on region, has been divided into North America, Europe, Asia-Pacific and the Rest of the World. North America Test and Measurement Equipment market accounted for USD 13.38 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

European countries also had a substantial market share, with countries like Germany, France, and the United Kingdom being key players in the region. Europe's emphasis on manufacturing precision instruments and machinery, as well as its strong automotive and aerospace sectors, contributed to the demand for high-quality test and measurement equipment.

The Asia-Pacific region, including countries like China, Japan, and South Korea, showed remarkable growth in the test and measurement equipment market. Rapid industrialization, particularly in electronics and telecommunications, led to increased demand for testing and measurement solutions to maintain product quality and ensure compliance. 

It's important to note that the market landscape can change rapidly due to technological advancements, economic shifts, and global events. To get the most accurate and up-to-date information on regional trends in the test and measurement equipment market, I recommend referring to recent market research reports and industry analyses from reputable sources.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Test and Measurement Equipment Market Research Report

Key Findings of the Study

• The global Test and Measurement Equipment Market is expected to reach USD 42.69 billion by 2030, at a CAGR of 4.00% during the forecast period.


• North America Test and Measurement Equipment market accounted for USD 13.38 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period.


• Based on Components, the Test and Measurement Equipment market segmentation includes Connectors, Cables assemblies and value-added accessories. The fastest gain in cable share is anticipated for 2021.


• ROHDE&SCHWARZ (Germany), Spirent Communications PLC (U.S.), National Instruments (U.S.), Teledyne Technologies Incorporated (U.S.), Keysight Technologies (U.S.), ADVANTEST Corporation (Japan), EXFO INC (Canada), Yokogawa Electric (Japan), Anritsu Corporation (Japan), IKM Instrutek AS (Norway), VIAVI Solutions Inc (U.S.), Fortive Corporation (U.S.), and Spectris PLC (U.K.).