The RF Test Equipment market is expected to grow at a high pace. In the year 2019, the market was valued at USD 2 billion. The market value will likely reach USD 5,674.9 million by the year 2025 and with a CAGR of 6.21%. RF is any frequency-associated equipment that provides radio wave propagation within the electromagnetic spectrum. An electromagnetic field is generated when an antenna is equipped with RF current, spreading through space. Several electronic devices are based on the propagation of waves of radiofrequency. Video streaming, radio networking, and satellite communications applications are getting possible using RF electronic components. The main benefit of the equipment is to test RF electronics and features to determine if it is in suitable condition and functioning correctly or not.
The market will grow at a substantial pace.
This testing occurs to ensure that a system is capable of operating in an electromagnetic environment and also it should not emit harmful electromagnetic radiation. The market for RF test equipment is primarily driven by the intense growth of the telecommunications sector. In current telecommunication systems, wireless connectivity is done through a wide range of radio frequencies. The growing demand for connectivity and RF-enabled devices has been growing at a tremendous pace, and it will promote the need for the RF test equipment market. Moreover, the ever-increasing demand for internet-connected electronics, such as mobile phones, tablets, laptops, televisions, microwave ovens, and others, is also growing.
The impact of Covid-19 has debilitated most small and large-scale businesses alike. Due to the lockdown and the need for physical distancing, many businesses have been forced to shut down. RF Test Equipment market was one of the markets that saw a decline in its profit and market size. However, it is expected to recover its revenue in the coming years.
A few factors contribute to the growth of the global market. The industrial sector is fast-growing in most countries across the globe. Moreover, there is an increasing concentration of SMEs (Small & Medium Enterprises) is also driving the growth of the market. Also, most industries are adopting wireless networks and in-built communication solutions. These factors are leading to global market growth.
The Radio Frequency equipment market is segmented by form factor into portable, bench-top and modular. Among them, the bench-top segment accounts for the largest RF test equipment market share. This is because it accounts for the highest repeatability level. Hence, it offers association among tools with the largest span, so reducing imperfections in measurement. Moreover, they are highly portable and compact, which is why these tools are the most preferable type.
The market is also segmented by frequency into less than 1 GHz, between 1 Hz and 6 GHz, and more than 6 GHz. The between 1 and 5 GHz segment is anticipated to make up the largest market share. This is because the frequency type offers maximum frequency response and almost full accuracy in high-frequency device measurements. Hence, these factors are expected to drive the growth of the global Radio Frequency test & measurement equipment market.
The RF Test & measuring equipment market is classified into many segments such as by form factor, connectivity, frequency, and vertical. Listed below are the RF Test instruments market segments:
The regional analysis of the RF test equipment market is divided into Europe, Asia Pacific, North America, Latin America, and Middle East & Africa during the forecast period 2019 to 2025. Asia Pacific region dominates with the highest global RF test equipment market share of 38.76%. It is followed by the North American region with a global market share of 26.44%. In this region, RF testing tools are deployed in industries such as medical, consumer electronics, and automotive.
However, Europe is anticipated to see enormous growth in the forecast period with the most CAGR and a market share of 21.92%. The increasing adoption of wireless networking, 5G cellular networks, and IoT (Internet of Things) in the region are driving the sales of the RF test & measurement equipment market. It is applied in industries such as healthcare, automotive, and IT & telecommunications. The Middle East & Africa region and Latin America are also expected to witness substantial market growth.
The RF Testing industry is dominated by a few important companies. They are the key companies that offer RF Test equipment solutions. These RF Test Equipment manufacturers account for most of the market profit. They do so by implementing various RF test equipment market trends and accurate RF frequency counters. The market landscape is quite competitive because of the growth of IoT enterprises, smart operators, and manufacturers. Hence, these key companies can attract a large span of clients globally.
This research report compiles all the information about the growth of the global RF Test equipment market in the forecast period. It also includes different sections of the RF Test instruments market analysis to help obtain detailed information such as opportunities, challenges, drivers, Covid-19 analysis, regional analysis, competitive landscape, and others. Moreover, all the information is gathered from verified primary and secondary sources to deliver the expected market growth of the RF Testing industry by the year 2027.
|Market Size||USD 5,674.9 million|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Connectivity, Form Factor, Frequency, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Keysight Technologies, Inc. (US), Teledyne Technologies Incorporated (US), National Instruments (NI) (US), Yokogawa Electric Corporation (Japan), Siemens (Germany), EXFO Inc. (Canada), Anritsu Corporation (Japan), Giga-Tronics Incorporated (US), Cobham PLC (UK), VIAVI Solutions Inc. (US), Fortive (US), and Chroma ATE Inc. (Taiwan), ROHDE&SCHWARZ (Germany), Atlantic Microwave Ltd (UK), B&K Precision Corporation (US)|
|Key Market Opportunities||Growing innovation in aerospace and defense technology and growing use of RF equipment in manufacturing industries.|
|Key Market Drivers||
The global RF test equipment market is expected to reach USD 5.6 billion by 2025.
The global RF test equipment market is expected to exhibit a strong 6.21% CAGR over the forecast period from 2019 to 2025.
The growing implementation of RF in in-building communication is a major driver for the global RF test equipment market.
Asia Pacific is the leading regional market for RF test equipment.
Atlantic Microwave Ltd., Yokogawa Electric Corporation, Keysight Technologies Inc., Siemens, EXFO Inc., National Instruments, Cobhamplc, Fortive, and Chroma ATE are among the leading players in the global RF test equipment market.