Test and Measurement Equipment Market Research Report - Forecast till 2030

Test and Measurement Equipment Market Research Report: By Product (General Purpose Test Equipment(Oscilloscope, Signal Generator, Analyzers, Meters, Thermal Imagers, Bit Error Ratio Testers (BERT), Others), Wireless Test Equipment (Logic Analyzers, Spectrum Analyzers, Network Analyzers, Network Simulators), Semiconductor Test Equipment, RF Test Chambers), by Component (Connectors, Cables Assemblies, Value Added Accessories), By Services (Professional Services (Integration Service, Repair/Support & Maintenance Service, Consulting Services),

ID: MRFR/SEM/4263-CR | February 2020 | Region: Global | 264 Pages         

Test and Measurement Equipment Market

Test and Measurement Equipment Market size is projected to reach a value of USD 40.53 Billion by 2030 & is expected to exhibit a CAGR of 4.0% CAGR over the forecast period (2020-2030).

Segmentation

By Component Connectors cables assemblies and value-added accessories.
By Service Professional services and managed services. Professional services are further divided into integration service repair/support & maintenance service consulting services
By Product Semiconductor test equipment general-purpose test equipment wireless test equipment RF test chambers
By Application Electronics & semiconductor Industrial & manufacturing healthcare & medical equipment aerospace & defense automotive telecommunication.
By Region Asia-Pacific Europe North America South America the Middle East & Africa

Key Players

  • 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.)
  • Spectris PLC (U.K.)

Drivers

  • The need for testing new devices across industries of aerospace
  • healthcare
  • and automotive. Rising demand in industrial solutions.
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Test and Measurement Equipment Market Size and Overview


Globally, the size of Test and Measurement Equipment Market is projected to reach a value of USD 40.53 Billion, at a CAGR of 4.0% by 2030 driven by the Rising demand for industrial solutions.


Test and measurement equipment is used in various applications ranging from automatic testing equipment to spectrum analyzers. The test and measurement equipment is needed in various industries of aerospace, automotive, healthcare, IT& telecommunications, education & government, electronics & semiconductor mostly for testing the new devices which increase the demand for the market.


Due to the development of patient-monitoring systems, new healthcare equipment, and personal emergency reporting systems, the growth in the healthcare sector increases. This equipment is used in designing and manufacturing products and services to ensure the highest level of customer satisfaction. These are used in both designing new products and developing old products. Also used for final inspection of products.



  • Wintech Testing and Certification, a provider of testing and certification services to architects, building owners, and manufacturers in the built environment community, has been acquired by UL LLC.

  • Teledyne Technologies, a manufacturer of advanced instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems, has announced the acquisition of 3M Company's Gas and Flame Detection Business.


COVID-19 Analysis:


The COVID-19 outbreak reduces the demand for most of the products worldwide. In addition to that, manufacturing plants in various countries are shut down to control the spread of the virus. Due to the coronavirus spread, the production of medicines and medical equipment is increased which increases the demand for the test and measurement equipment market in the healthcare & pharmaceuticals industries. Hence it results in significant demand for test and measurement equipment products and solutions. Therefore, COVID-19 increases the demand for test and measurement equipment.



  • Eaton Corporation created a program to provide virtual testing for power quality and other equipment to customers. With the camera zoom, this program allows you to get closer to the equipment.


Market Dynamics:

Drivers:


The performance of electronic devices is known by the test and measurement equipment. This testing helps in identifying the component’s timely degradations due to the device’s external turbulences like heats, vibrations, shocks, and fluctuating environmental conditions. This equipment helps in improving the performance, shelf life, accuracy, and efficiency of devices.


The test and measurement equipment manufacturers like Original equipment manufacturers (OEMs), and engineers are focusing on manufacturing cutting-edge semiconductor devices like robotics and different types of sensors having additional features. The demand for advanced technology electronic products like refrigerators, flat-screen TVs, washing machines, air conditioners, mobile phones, and smartwatches are accelerating and are necessary to produce in huge quantities which increases the demand for the market. According to the National Investment Promotion & Facilitation Agency, in the coming next 10 years by 2030, the global electronics market is expected to grow by nearly USD 2 trillion. This agency also stated that the Indian electronics market was valued at USD 120 billion in 2019 and the country’s share in global electronics manufacturing is 1.3% in 2012 and grow 3% in 2018.



  • SGS SA, a Swiss inspection, verification, testing, and certification company, has acquired Chemical Solutions Ltd., a testing laboratory in the United States that specialises in elemental and heavy metal testing for pharmaceutical, food, and cosmetic products sold in the United States and around the world.

  • Fluke Corporation, a Fortive subsidiary that manufactures test and measurement equipment in the United States, has acquired PRUFTECHNIK, a Germany-based test and measurement company.


Restraint:


Installation of testing and measurement equipment and the establishment of testing facilities are very expensive. Skilled professionals are required to operate testing and measurement equipment and to perform tests. These are the factors that are hampering the test and measurement equipment market.


Opportunities:


IoT is a device that operates both wired and wireless electronic devices. IoT-enabled connected devices are used in the applications like automotive, healthcare, and aerospace & defense industries and the growing adoption of 5G cellular technology are major opportunities for the testing and measurement equipment market growth.


Challenges:


Using the antenna arrays the energy consumption of electronic devices is reduced. But the irregularities, calibration, and complexity issues in antennas are the challenges of the market.


Segment Overview:

The global test and measurement equipment market research has been divided into segments based on the component, service, product, application, and region.



  • January 20, 2022 - Anritsu Corporation introduced the 0.4-7.125GHz Enhanced RF Module MT8000A-033, a new modular RF hardware upgrade for the Radio Communication Test Station MT8000A that leverages the modular architecture to enable extended all-in-one 5G NR test coverage. This new radio frequency module can be used to enhance the functionality of existing MT8000A units.

  • August 2022 - Keysight Technologies, Inc.'s integrated 5G new radio (NR) device test solutions have been selected by MediaTek to validate the radio frequency (RF) performance of 5G devices equipped with MIMO and Massive MIMO antenna technologies in an over-the-air (OTA) laboratory-based test environment.


Based on Component



  • By component, the electronic test and measurement equipment market is segmented into cables assemblies, connectors, and value-added accessories.


Based on Service



  • Based on service, the communications test & measurement market is divided into professional services and managed services. Professional services are further divided into integration service, repair/support & maintenance service, and consulting services.


Based on Product



  • The measuring and test equipment based on product is classified into semiconductor test equipment, general-purpose test equipment, wireless test equipment, and RF test chambers. Out of these, the general-purpose test equipment segment holds the largest market share. It includes signal generators, oscilloscopes, digital multimeters, spectrum analyzers, logic analyzers, bit error rate tester solutions, power meters, network analyzers, electronic counters, modular instruments, automated test equipment, and power supplies.


Based on Application



  • The Electronic Test and Measurement Market by application is bifurcated into electronics & semiconductor, Industrial & manufacturing, healthcare & medical equipment, aerospace & defense, automotive, and telecommunication. Out of these, the healthcare & medical equipment sector is expected to grow the significant CAGR during the forecast period owing to the growing demand for test and measurement equipment for medical devices.


Based on Region



  • The test and measurement equipment market region-wise is divided into Europe, North America, Asia-Pacific, and the rest of the world. North America holds the largest share in the market for the growing demand from the healthcare, IT, and Telecommunications sectors.


Regional Analysis 


The test & measurement equipment market is regionally divided into Europe, North America, Asia-Pacific, and the rest of the world. Among these regions, North America accounts for the largest market share for their growing demand from the healthcare, IT, and Telecommunications sectors. The latest advanced technologies in autonomous driving technology and the recent Internet of Things (IoT) technology trends. Using the 5G, improved bandwidth and latency reduction can be achieved easily.


And for this 5G network commercializing, the US is one of the active participants and hence it increases the demand for the test and measurement equipment market in this region. Moreover, the increasing demand for intelligent transportation systems, connected cars, and medical devices is also predicted to drive the market in this region. Additionally, the US includes the significant major test and measurement equipment companies offering the test and measurement devices and high demand over their applications drives the automated test equipment market in this region.



  • Eaton announced in May 2022 that it had signed an agreement to acquire a 50% stake in Jiangsu Huineng Electric Co., Ltd. (Huineng), a Chinese manufacturer and marketer of low-voltage circuit breakers with revenues of USD 35 million in 2021. This will allow the company to expand even further in order to meet the demands of the rapidly growing market.

  • The US and India have agreed to expand the Indo-US Joint Clean Energy Research and Development Centre (JCERDC) by funding new research in two areas critical to improving the reliability, flexibility, and efficiency of the electricity delivery system, namely Smart Energy Grids and Energy Storage. The program is overseen by the bilateral Indo-US Science and Technology Forum (IUSSTF) in India and the Department of Energy in the United States. Such announcements are expected to increase the region's demand for electrical testing equipment.


Competitive Landscape

The communication test and measurement solution companies are the following:



  • 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)

  • Spectris PLC (U.K)


Recent Developments

  • In 2021, a prominent key player Teledyne Technologies with USD 8 billion acquired FLIR Systems, Inc., which can expand the portfolio of the former and provide end-to-end solutions across verticals.

  • In March 2021, Anritsu manufactured a new test module TRX MU887002A which improves the efficiency of production line inspections of wireless communication devices based on 5G and its space-saving universal wireless test set, MT8872A.

  • In March 2021, one of the major key players VIAVI Solutions introduced a new fiber electronic test and measurement solution that helps for fiber optic testing by expanding the industry’s most complete portfolio. The company enables service providers, hyperscale data centers, contractors, and enterprises to offer new optical power meters, OTDR, and fiber characterization modules to reduce manufacturing costs, improve quality of services, minimize downtime, and raise revenue generation.


Report Overview:
This global test and measurement equipment market research include the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the electronic test and measurement equipment market drivers, restraints, challenges, and opportunities. The test and measurement equipment market forecast segments are component, service, product, application, and region.


Segmentation Table


The test and measurement equipment market outlook has been segmented globally based on the component, service, product, application, and region.


By Component



  • Connectors, cables assemblies, and value-added accessories.


By Service



  • Professional services and managed services. Professional services are further divided into integration service, repair/support & maintenance service, and consulting services.


By Product



  • Semiconductor test equipment, general-purpose test equipment, wireless test equipment, and RF test chambers.


By Application



  • Electronics & semiconductor, Industrial & manufacturing, healthcare & medical equipment, aerospace & defense, automotive, and telecommunication.


By Region



  • Asia-Pacific, Europe, North America, South America, and the Middle East & Africa are the five main geographies included in this market.


Study Objectives -



  • To provide detailed information about the test and measurement equipment market structure along with various forecast segments and sub-segments for the next 10 years.

  • To provide the factors that are affecting the growth of the test and measurement equipment market value.

  • To analyze the test and measurement equipment market industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the test and measurement equipment market revenue for the five main geographies.

  • To provide the country-level analysis of the current test and measurement equipment market size and future prospective.

  • To provide country-level analysis of the test and measurement equipment industry growth by region, form, and application.

  • To provide a strategic profile of the prominent key players in the market, analyze their core competencies, and draw a global test and measurement equipment market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global test and measurement equipment market research.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 40.53 Billion
  CAGR   4.0%
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product, Component, Services, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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.), Spectris PLC (U.K.)
  Key Market Opportunities   The commercialization of IoT and the growing adoption of 5G cellular technology.
  Key Market Drivers

  • The need for testing new devices across industries of aerospace, healthcare, and automotive.
  • Rising demand in industrial solutions.


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    Frequently Asked Questions (FAQ) :

    The worldwide market of test and measurement equipment can surge at 4.85% CAGR and value at USD 40.53 Million by 2030.

    ROHDE&SCHWARZ (Germany), Anritsu Corporation (Japan), VIAVI Solutions Inc (US), and IKM Instrutek AS (Norway) are some notable players of the test and measurement equipment market.

    In 2018, the test and measurement equipment market value was recorded at USD 25,120.0 Million.

    As ownerships of consumer electronics increase, the test and measurement equipment market is expected to draw in high revenue.

    The technical base in North America is suitable for the manufacturing of test and measurement equipment. This can spur the regional market growth.

    Oscilloscope, Analyzers, Meters, Signal Generator, Bit Error Ratio Testers (BERT), and Thermal Imagers are general purpose test and measurement equipment.

    Aerospace and defense sectors are high end-consumers of test and measurement equipment.