Test and Measurement Equipment Market
The Test Measurement Equipment Market is estimated to expand at a remarkable CAGR during the forecast period (2020-2027).
The factors driving the growth of Test Measurement Equipment Market includes increasing application of automatic test equipment (ATE) and radio frequency (RF) in the end use industries such as Automotive, Defense and Healthcare, growing adoption of semiconductor devices and strict regulations imposed by Government about quality maintenance. According to the report published by Bloomberg, the Global Semiconductor Market is predicted to reach USD 90.80 billion by the end of 2024, growing at a CAGR of 4% over the forecast period (2020-2024), which is expected to boost the Global Test and Measurement Equipment Market in the coming years. Moreover, the growing demand for Internet of Things (IoT) based devices, digital transformation in the Telecom sector, rising number of data centers across the globe and technological innovations in the test and measurement equipment, are some of the additional factors supplementing the Test and Measurement Equipment Market size. In addition, the rising sales of intelligent cars around the world, emerging need for developing intelligent transportation systems, increasing disposable incomes and rapid urbanization, are further contributing to growth of the market.
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However, the growth of Test Measurement Equipment Market is hindered due to high installation cost of Test and Measurement Equipment.
The leading players operating in the market are VIAVI Solutions Inc., Anritsu, Yokogawa India Ltd., Rohde & Schwarz USA, Inc., ADVANTEST CORPORATION, National Instruments Corp., EXFO Inc., Texas Instruments Incorporated, Fortive and Keysight Technologies, among others.
Product- Segment Analysis
Based on Product, the General Purpose Test Equipment segment is predicted to grow at a significant CAGR over the forecast period attributed to growing demand for testing equipment such as network analyzers and Automated Test Equipment (ATE).
End-Use Sector – Segment Analysis
Based on End-Use Sector, the automotive and transportation segment is anticipated to capture the largest market share during the forecast period. The growing adoption of advanced automated technologies such as Ethernet (IEEE 802.3) by the major automotive companies, is pushing the segment’s growth.
Regional – Segment Analysis
Based on region, the Asia-pacific region is predicted to lead the market over the forecast period. The increasing penetration of laptops and smartphones, rising adoption of Autonomous driving technology, growing disposable incomes, rapid urbanization, and improvements in the living standards, are some of the important factors augmenting the growth of the segment.
Market Segmentation
Segmentation by Product
· General Purpose Test Equipment (GPTE)
· Mechanical Test Equipment (MTE)
Segmentation by Service Typ
· Calibration Services
· Repair Services/After-Sales Services
· Other Services
Segmentation by End-Use Sector
· Automotive & Transportation
· Aerospace & Defense
· Equipment in Aerospace & Defense
· Education & Government
· Semiconductor & Electronics
· Industrial
· Healthcare (Medical)
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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