Test and Measurement Equipment Market Research Report Information By Component (Connectors, Cables assemblies and Value-added accessories), By Service (Professional services and Managed Services), By Product (Semiconductor test equipment, General-purpose test equipment, Wireless test equipment, and others), By Application (Electronics & semiconductor, Industrial & Manufacturing, Healthcare & medical equipment, Aerospace & Defense, & Other) And Region (North America, Europe, Asia-Pacific & Rest Of The World)– Industry Forecast 2030
ID: MRFR/SEM/4263-CR | 264 Pages | Author: Ankit Gupta | February 2020
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Global Test and Measurement Equipment Market Overview:
The Test and Measurement Equipment Market Size was valued at USD 31.2 billion in 2021. The Test and Measurement Equipment market is projected to grow from USD 32.44 Billion in 2022 to USD 42.69 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.00% during the forecast period (2022 - 2030). The need for testing new devices across aerospace, healthcare, and automotive industries and Rising demand for industrial solutions. Are the key market drivers enhancing the Test and Measurement Equipment market growth?
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Test and Measurement Equipment Market Trends
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Increasing the use of electronic gadgets will boost market growth.
Instruments for testing and measuring the performance of electrical devices are reliable. As a result of the device being exposed to external turbulences such as shocks, heat, vibrations, and changing climatic conditions, testing aids in identifying components that experience timely deterioration. This research also aids in predicting equipment failure and calibration before serious harm occurs. In other words, test and measurement equipment aids in enhancing the durability, functionality, precision, and effectiveness of equipment. Semiconductor gadget usage is rising quickly. OEMs, designers, and engineers are concentrating on creating cutting-edge semiconductor devices with special characteristics like robotics and other sensors. Many industries, particularly consumer electronics, need such devices. It has become necessary to make consumer electronics in big quantities due to the rise in demand for items like flat-screen T.V.s, refrigerators, washing machines, smart watches, mobile phones, and air conditioners. The worldwide Test and Measurement Equipment market has grown due to rising demand for modular instruments from product designers and manufacturers, adopting electronic devices, and a spike in demand for high-performance and power-efficient electronic devices. However, a lack of qualified workers and hefty installation and ownership costs restrain market expansion. On the other hand, the development of 5G technology would create profitable prospects in the future.
Figure 1: Electronic devices in various industries
The National Investment Promotion & Facilitation Agency (INVEST INDIA) has provided figures showing that in the next ten years, the electronics industry is expected to reach over USD 2 trillion (by 2030). Additionally, it has been reported that the Indian electronics market was worth USD 120 billion in 2018–19 and that India's contribution to electronics production increased from 1.3% in 2012 to 3% in 2018.
During manufacture, high-performance and power-efficient consumer electronics and semiconductors are inspected for flaws using test and measurement equipment. As a result, the growing use of test and measurement equipment for routine testing and identifying flaws in helicopters, airplanes, and other machinery is propelling the Test and Measurement Equipment market's expansion. The automotive and transportation industries are also utilized for machine control, factory automation, and setting up remote sensor connections. Other growth-promoting technical developments include developing machine-to-machine (M2M) interaction systems and integrating connected devices with the Internet of Things (IoT).
Due to the increased need for test and measurement equipment in the pharmaceutical and healthcare sectors, sales of this equipment have increased dramatically over the last two to three years. Many different testing and measuring tools may be used to verify any device's functioning. By logging external reactions like shocks, vibrations, or temperature, this device helps locate the prematurely deteriorated units. There is a great need for test and measurement equipment in the industry nowadays because electronic device makers are keen to use these technologies to improve the brand value of their products by removing problematic parts.
Test and Measurement Equipment Market Segment Insights:
Test and Measurement Equipment Component Insights
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.
Figure 2: Test and Measurement Equipment Market, by Component, 2021 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Test and Measurement Equipment Application Insights
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.
Test and Measurement Equipment Service Insights
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.
Test and Measurement Equipment Product Insights
Based on Product, the Test and Measurement Equipment market segmentation includes Semiconductor test equipment, General-purpose test equipment, Wireless test equipment and R.F. test chambers. General-purpose test equipment shares the highest growth during the forecast period 2021. Oscilloscopes, signal generators, digital multimeters, logic analyzers, spectrum analyzers, network analyzers, power meters, electronic counters, modular instruments, automated test equipment (ATE), and power supplies are examples of general-purpose test equipment. The equipment is characterized by its size, bulky displays, slightly complex control scheme, and user interface. These features are anticipated to alter somewhat due to the growing demand for small devices and the makers of test and measurement equipment placing a significant emphasis on combining several types of equipment into a single product.
Test and Measurement Equipment Regional Insights
By Region, the study provides market insights 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.
Figure 3: TEST AND MEASUREMENT EQUIPMENT MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Test and Measurement Equipment Key Market Players & Competitive Insights
Major market players are investing a lot of money in R&D to expand their product portfolios, which will spur further market growth for the Test and Measurement Equipment industry. With significant industry changes, including new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and remain in a market that is becoming more and more competitive, the Test and Measurement Equipment industry competitors must provide affordable products.
Manufacturing locally to cut operational costs is one of the main business tactics used by the Test and Measurement Equipment industry to serve customers and increase the market sector. The Test and Measurement Equipment industry has recently given medicine some of the most important advantages. The Test and Measurement Equipment market major players such as 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.), and others are working on expanding the market demand by investing in research and development activities.
American network test, measurement, and assurance technology business Viavi Solutions, originally a division of JDS Uniphase Corporation, is situated in Scottsdale, Arizona. The business makes network testing and monitoring devices. On March 2021, VIAVI Solutions introduced new fiber test and measurement equipment solutions, expanding the complete fiber-optic testing solution in the market. Service providers, colocation and hyperscale data centers, businesses, and contractors can reduce manufacturing costs, improve service quality, reduce downtime, and increase revenue thanks to the company's new optical power meters, fiber characterization modules, and enhanced optical time-domain reflectometer (OTDR) solution.
Anritsu Firm is a Japanese multinational corporation in the telecommunications electronics equipment market. To improve the effectiveness of production-line inspections of 5G wireless communication equipment, Wireless Telecom Services Test Set, Anritsu released the space-saving universal wireless test set, Wireless Telecom Services MT8872A, and the TRX Test module, MU887002A, in March 2021.
Key Companies in the Test and Measurement Equipment market include
- 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.)
Test and Measurement Equipment Industry Developments
- April 2023: Ono Sokki India, a leading measurement and testing equipment manufacturer, showcased its sound & vibration analysis and highly accurate mass flow measurement technology for CO2 reduction. Highlighted at Automotive Testing Expo India, Ono Sokki's O-Solution/DS-5000 sound and vibration analysis system provides accurate and reliable measurements of air mass flow rate. These technologies are crucial in improving the energy efficiency of internal combustion engines.
- December 2022: Keysight Technologies, Inc., a leading technology provider, announced its plans to deliver advanced design and validation solutions that can help accelerate innovations to connect and secure the world. The company aims to dive deep into test and measurement trends, which have become integral to mission readiness for warfighters to allow soldiers, sailors, Marines, airmen, and space warfighters, to rely on these war machines.
- June 2022: Advantest America, Inc., a leading semiconductor test equipment supplier, announced the acquisition of an Italy-based major power semiconductor test equipment supplier - Collaudi Elettronici Automatizzati S.r.l. (CREA) to foster its revenue growth. This acquisition will enable Advantest to help its customers to help achieve Net-Zero.
- The acquisition will expand its test & measurement solutions in the evolving semiconductor value chain, meeting a wider range of customer needs. The Advantest Group can enrich its power semiconductor test solutions portfolio by integrating CREA's product lineup, development capabilities, excellent customer base, and world-class R&D team.
- May 2022: Viavi Solutions Inc. (VIAVI), a leading network test, measurement, and assurance technology provider in the US, announced a strategic partnership with Open Fiber, a leading broadband network operator for FTTH test equipment. Viavi will supply its test equipment to Open Fiber to support its planned national fiber deployment.
- Open Fiber is creating an ambitious path to modernize the digital infrastructure of Italy. The partnership would enable Open Fiber to automate and accelerate its FTTH build without compromising quality while ensuring error-free first-time customer activation. It is important for proactive in-life monitoring. The deal also allows Open Fiber to isolate network issues and shorten resolution and restoration times.
- January 2021: A well-known crucial figure With an investment of USD 8 billion, Teledyne Technologies purchased FLIR Systems, Inc., a company that may broaden the former's portfolio and offers end-to-end solutions for various.
- February 2021: In addition to the TB820D right-angle scattered light turbidity detectors, the FC800D non-reagent type free available chlorine sensor units, the RC800D reagent type residual chlorine sensor units, the FLXA402T liquid turbidity and chlorine analyzers, and the PG400 pulse generators for clean units, Yogokawa also introduced these products as part of its OpreX analyzer range for use in water treatment facilities.
Test and Measurement Equipment Market Segmentation:
Test and Measurement Equipment Component Outlook
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Connectors
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Cables assemblies
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value-added accessories
Test and Measurement Equipment Service Outlook
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Professional services
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Integration service
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Repair/support & maintenance service
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Consulting services
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Managed services
Test and Measurement Equipment Product Outlook
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Semiconductor test equipment
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General-purpose test equipment
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Wireless test equipment
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R.F. test chambers
Test and Measurement Equipment Application Outlook
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Electronics & semiconductor
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Industrial & Manufacturing
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Healthcare & medical equipment
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Aerospace & Defense
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Automotive
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Telecommunication
Test and Measurement Equipment Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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Report Scope:
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 31.2 billion |
| Market Size 2022 | USD 32.44 billion |
| Market Size 2030 | USD 42.69 billion |
| Compound Annual Growth Rate (CAGR) | 4.00% (2022-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Operating Platforms, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 Dynamics | The need for testing new devices across aerospace, healthcare, and automotive industries. Rising demand for industrial solutions. |
Frequently Asked Questions (FAQ) :
The global Test and Measurement Equipment market size was valued at USD 31.2 Billion in 2021.
The global market for Test and Measurement Equipment is projected to grow at a CAGR of 4.0% during the forecast period, 2022-2030.
North America had the largest share of the global Test and Measurement Equipment market.
The key players in the Test and Measurement Equipment market are 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.)
The repair Test and Measurement Equipment category dominated the market in 2021.
General-purpose test equipment had the largest share in the global Test and Measurement Equipment market.
Key Questions Answered
- ✅Global Market Outlook
- ✅In-depth analysis of global and regional trends
- ✅Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅To understand the capability of the major players based on products offered, financials, and strategies.
- ✅Identify disrupting products, companies, and trends.
- ✅To identify opportunities in the market.
- ✅Analyze the key challenges in the market.
- ✅Analyze the regional penetration of players, products, and services in the market.
- ✅Comparison of major players’ financial performance.
- ✅Evaluate strategies adopted by major players.
- ✅Recommendations
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