ID: MRFR/SEM/4263-CR | February 2020 | Region: Global | 264 pages
Test and Measurement Equipment Market size is projected to reach a value of USD 34,586.38 Million by 2025, as per the latest report of Market Research Future (MRFR). It is expected to exhibit a CAGR of 4.85% CAGR over the forecast period (2019-2025).
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.
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.
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.
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.
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.
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.
The global test and measurement equipment market has been divided into segments based on the component, service, product, application, and region.
Based on Component
Based on Service
Based on Product
Based on Application
Based on Region
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.
The prominent key players in the test and measurement equipment market trends are the following:
The test and measurement equipment market outlook has been segmented globally based on the component, service, product, application, and region.
|Market Size||USD 34,586.38 Million|
|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||
Frequently Asked Questions (FAQ) :
The worldwide market of test and measurement equipment can surge at 4.85% CAGR and value at USD 34,586.38 Million by 2025.
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.