menu
Test and Measurement Market - Forecast(2022 - 2027)
Test and Measurement Market - Forecast(2022 - 2027)
The Test and Measurement Equipment market is forecast to reach $33 billion by 2025 and is estimated to grow at a CAGR of 4.05% during the forecast period 2021-2027.

The Test and Measurement Equipment Market is forecast to reach $33 billion by 2025 and is estimated to grow at a CAGR of 4.05% during the forecast period 2019-2025. The ongoing digital transformation in automotive industry is boosting the retrofitting of devices and equipment embedded with a wide range of test and measurement equipment such as electrical tester, digital multi-meters, digital oscilloscope, spectrum analyzer, and environmental testers. Data centres, advanced telecom infrastructure, and automotive are some major end-use applications that require advanced measuring equipment to meet modern testing requirement. The data centers utilize various complex electronics devices and thus a large number of test and measurement equipment are deployed in these data center to monitor device condition, signal strength, and data transmission condition.

Test and Measurement Market Segment Analysis - By Industry vertical

The test and measurement equipment market is poised to grow at a rapid pace owing to wide range of applications in the automotive sector.. According to next green car report, UK had 220,000 plug-in cars by the end of June 2019. These included both hybrids and fully-electric vehicles. The growing adoption of electric and hybrid vehicles and emerging demand for autonomous vehicles is likely to accelerate the market growth during the forecast period. Most of the autonomous vehicle use wireless communications standards such as long term evolution (LTE) and Wi-Fi for their infotainment system and other automobile accessories. By 2020, about 150 million vehicles are likely to be connected via Wi-Fi, and 60% to 75% of them will be capable of consuming, creating, and sharing Web-based data. These modern electronic devices in automobiles are boosting the need of RF testing equipment (Radio Frequency testing equipment) significantly

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=15458

Report Price: $ 4500 (Single User License)

Test and Measurement Market Segment Analysis - By Geography

The Asia Pacific is the largest region for the test and measurement market due to presence of strong manufacturing base. Most of the demand from APAC region is experienced from China India, Taiwan, and Japan due to growth in electronics and automotive industry. China’s National Bureau of Statistics estimated the sale of consumer goods up by 9.2% in 2018 than the previous, which values up to approximately $1,436.8 billion. Similarly, within APAC, India started producing wide range of electronic products under major standards with latest government initiatives such as T&M India 2020. According to the Department of Electronics and Information Technology (DeitY), approximately 2,000 chips are being designed every year in India. Under the initiative of Make in India campaign, India is likely to see an investment of $1.5 billion in electronics sector during 2018-2020. Expansion of these new plants is likely to bring rapid growth for test and measurement equipment in the country. Asia Pacific is set to grow at a CAGR of 5.2% during 2019-2025.
The demand for test and measurement equipment from APAC region is growing enormously in telecommunication sector. Countries having dense population such as India and China contributes large market for telecommunication industry. For instance, in India number of mobile phone subscribers were 91.11 (per 100 inhabitants) in 2017 but in 2018, the number raised to 91.51. The number is likely to increase due to improvement in telecom infrastructure in the country. Growing need for communication tests and measurement equipment is set to witness a significant growth in test and measurement market owing to increase in communication infrastructure.

Test and Measurement Market - Drivers

Development of communication infrastructure coupled with rising popularity of IoT based technology:

Testing and measurement of equipment, devices, and signals are the integral part of communication network. Thus, any new development in communication network will have a positive impact on testing and measuring equipment market. Presently, communication industry is witnessing several transformations due to evolution of 5G technology and data centres. In 2019, Bharati Airtel has announced to invest approximately $8 billion by 2022 towards building 5G infrastructure and 4G expansion. Similarly, in 2019, Vodafone has prepared its road plan to invest approximately $3.08 billion in next 15 years to expand its network. It has tied up with Ericson to deploy 5G ready devices into this newly expanded network. These new investments are expected to bring more opportunity for test and measurement market.

Increasing demand from power management and consumer electronics application:

Power sequencing and power supplies are few of the major power management applications that are augmenting the need of electronic test equipment. Similarly, the growing design complexity of modern consumer electronics are augmenting the need for precision testing equipment. For instance, in power management and consumer electronics applications, 8-bit oscilloscope were used traditionally. However, with strict margins for design, the engineers are now looking for a high-resolution oscilloscope with analogue-to-digital converters (ADC) and a high number of bits. These new applications are creating opportunities for advanced test and measurement equipment.

Download Sample Report @ https://www.industryarc.com/pdfdownload.php?id=15458

Test and Measurement Market - Challenges

Designing challenge coupled with high cost

With the growing advancement in electronic device, systems are moving towards a complex setup which needs advance test and measurement equipment too. This leads to development of multi-functional test and measurement equipment. Manufacturers are facing both designing and cost challenge to meet the emerging need of end-users. As per major electronic instrument manufacturers, the cost of a modern network analyzer has increased by 15%-20% due to the use of advanced and expensive component.

Market Landscape

The major players in the test and measurement market include Bureau Veritas, Danaher, Keysight, SGS, Thermo Fisher, Texas Instruments Incorporated, XSENSOR Technology and other. Thus, major vendors are looking forward to consolidating this market through merger and acquisition. While expertise and economy of scale is the key strength for major vendors, small vendors will optimize the supply chain to reduce the operational cost.

Partnerships/Mergers/Acquisitions

In February 2019, Electro Rent Europe and Microlease announced a merger into Electro Rent Corporation. This merger will make Electro Rent the largest independent test and measurement equipment solutions provider in Europe.

In December 2018, Anritsu Company partnered with PCTEST Engineering Laboratory, Inc. to conduct SAR (Specific Absorption Rate) testing of 5G devices by using Anritsu’s Communication Test System MT8000A. This communication system will be used in laboratories to emulate a 5G New Radio (NR) radio access network to provide advanced 5G NR technology to the mobile operators and device makers.

R&D, Investment/Funding

In 2019, Liquid Instruments announced to raise $8.16m to increase its product line for research, education, and industrial measurement markets in the US, Europe, and Asia.

Test and Measurement Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Test and Measurement Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Test and Measurement Market, and their specific applications in the consumer electronics, industrial, medical, and security and surveillance sectors.

Key Takeaways

Modern electronic devices in automobiles are boosting the need of RF testing equipment (Radio Frequency testing equipment) significantly.

APAC holds the majority market share owing to large demand from telecom and automotive industry.

Changing landscape of communication infrastructure and digital transformation in various industries is uplifting the test and measurement equipment market.

Test and measurement market is fragmented however major vendors are looking forward to consolidating the market through merger and acquisition.

Related Reports :

A. Spectrum Analyzer Market

https://www.industryarc.com/Report/17064/spectrum-analyzer-market.html

B. Oscilloscope Market

https://www.industryarc.com/Report/15348/oscilloscope-market.html

For more Electronics related reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.