Market Insights
Investors weighed signs of the economy, recuperating against a mount in Coronavirus disease in the global RF test equipment market 2020. The Coronavirus has prompted many regions to reassess the need to raise the markets from a definite period. Market Research Future digs into account and found that the market would rise at a pace of 6.21% CAGR and would reach higher valuations by 2025. The study unwinds that the overall market would get bigger post the pandemic at an increased pace with the invention of the new-fangled dynamism, which is making rapid progress in the market’s growth, mainly from the years 2017-2025 (forecasted period).
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Notable Developments
The extreme growth of the telecommunications sector primarily drives the market for RF test equipment. Current telecommunication systems are based mainly on wireless connectivity, conducted through a broad range of radio frequencies. Such frequencies are transmitted and received through different RF-enabled electronic devices. With the rising demand for connectivity, demand for RF-enabled devices has been mounting at a marvellous pace. This, in turn, has been promoting the demand for RF test equipment market.
MRFR in its study further reveals that the swelling demand for internet-connected and RF-enabled consumer electronics, such as tablets, mobile phones, televisions, laptops, and microwave ovens among others have also been promoting the expansion of the RF-enabled components. This, in turn, has been further encouraging the growth of RF testing equipment. In 2015, Smartphones were the largest revenue contributor to the global RF Test Equipment Market. It acquired a revenue share of about 38%. The increasing adoption of smart devices has expanded the market for RF test equipment since then globally. Telecom technologies such as LTE-A, LTE, 4G, and 5G are being adopted by many Smartphone users.
Furthermore, upward application of various communication technologies, in various industry verticals, has been promoting the augmentation of RF-enabled electronic components. This again has been favourably impacting the growth of RF Test Equipment Market. In fact, mounting strictness of regulations for radio frequencies, coupled with swelling bandwidths, has led to the need for advanced RF testing equipment.
On the contrary, the factor of lack of advanced equipment has been restraining the growth of RF testing equipment to some extent. Considering the increasing application of RF-enabled electronics, the market for RF test equipment can be expected to expand more at a significant pace, during the forecast period from 2017 - 2025.
Segmentation Analysis
The global market for RF test equipment is segmented on form factor, connectivity, frequency, and end-user.
- On the basis of connectivity, the global RF test equipment market is segmented into the signal generators, oscilloscope, spectrum analyzers, network analyzers, and others. The segment of oscilloscopes held the largest market share in 2018, as this segment has seen substantial growth in demand for RF test equipment owing, among others, to the design and maintenance of electronic equipment and laboratory work in the automotive, consumer electronics, IT & telecommunications, aerospace & defense, and healthcare industries.
- On the basis of the form factor, the global RF test equipment market is divided into portable, bench-top, and modular. As it provides the highest degree of repeatability, the bench-top category is projected to retain the most market share, resulting in a closer connection between instruments with a wider measuring range, which helps to do better job of minimizing imperfections.
- On the basis of frequency, the global RF test equipment market is divided into between 1GHz to 6 GHz, less than 1 GHz, and more than 6 GHz. Because of its excellent frequency response and high precision in swept measurements with high-frequency probes, the segment is slated to hold the highest market share between 1GHz and 6 GHz.
- On the basis of end-user, the global RF test equipment market is divided into IT & automotive, telecommunications, consumer electronics, academic & research institutions, aerospace & defense, medical, industrial, and others. The IT & Telecommunications segment is projected to retain the highest market share as it provides improved network and spectrum quality and precision, and provides high frequency reading quality.
Regional Analysis
The geographical overview of the global market has been analyzed in four major regions, including Europe, the Asia Pacific, North America, and the rest of the world.
With growing innovation in aerospace and defense technology and growing use of RF equipment in manufacturing industries, Europe is expected to see remarkable growth in the RF test equipment industry. Furthermore, IoT adoption, wireless networking, and 5 G network technology growth have prompted the introduction of RF test equipment in industries such as automotive, IT & Telecommunications, and healthcare. During the forecast era, the involvement of major manufacturers and increasing R&D facilities further increases the demand for RF test equipment in the area.
Increasing the adoption and deployment of RF and in-building communication technology in different industries is expected to drive demand in Asia-Pacific for RF test equipments. In addition, the growing adoption of RF test equipment in the IT & Telecommunications industry to conduct component testing for tablets, smartphones, laptops and electronic device circuit design testing and in the automotive industry to test vehicle components and vehicles is expected to increase demand for RF test equipment in this area during the forecast period.
Key Players
The top players of the Global RF Test Equipment Market are National Instruments (Ticker: NATI) (US), Teledyne Technologies Incorporated Ticker: TDY () (US), EXFO Inc. (Ticker: EXFO) (Canada), Siemens (Germany), Cobham PLC (UK), Giga-Tronics Incorporated (US), Chroma ATE Inc. (Taiwan), Fortive (US), and B&K Precision Corporation (US).
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