The global test and measurement equipment market size is predicted at USD 29.79 billion in 2024 and is anticipated to succeed in the valuation of USD 35.72 billion in 2029 and is predicted to register a CAGR of 3.7% during the forecast period.
Test and measurement devices are known to prove the performance of all electronic and electrical devices. This test helps to classify components that are damaged because the device is familiar with disturbances.
Increasing technological advances in networks and communications are key drivers in accelerating the growth of the testing and measurement equipment market. In addition, increasing demand for test and measurement equipment in a variety of applications such as telecom, consumer electronics and semiconductors, increasing people's disposable income, and the development of 5G technology will drive the growth of the test and measurement equipment market. Expected to be. However, high test and measurement equipment prices can limit the market for test and measurement equipment.
In addition, the increasing adoption of IoT devices, the advent of 5G technology, and the rollout of 4G networks will create many opportunities in the testing and measurement equipment market. On the other hand, the proliferation of rental and leasing services poses a challenge for testing and measuring equipment. Growth of the equipment market.
This test and measurement equipment market report provides details on new developments, trade regulations, import / export analysis, production analysis, value chain optimization, market share, domestic and domestic player impacts, and new sources of revenue. Analyse opportunities from the perspective of. Changes in market regulations, strategic market growth analysis, market size, category market growth, application niches and advantages, product approvals, product launches, geographic expansion, innovations in the market.
Test and measurement equipment certify the performance of electronic devices. Testing helps identify components that can deteriorate in a timely manner when the device is exposed to external turbulence such as shock, heat, vibration, and various environmental conditions. This analysis also helps predict device failures and perform calibrations before serious damage occurs. In other words, test and measurement tools help improve device durability, performance, accuracy, and efficiency. The use of semiconductor devices is increasing rapidly. Original Equipment Manufacturers (OEMs), designers, and engineers are focused on developing state-of-the-art semiconductor devices with great features such as robotics and various types of sensors. Such devices are in demand in several industries, including household appliances. As the demand for home appliances such as flat screen TVs, refrigerators, washing machines, smart watches, mobile phones and air conditioners increases, it is necessary to mass produce them. According to statistics from the National Investment Promotion & Facilitation Agency (INVEST INDIA), the global electronics market is estimated to exceed $ 2 trillion over the next decade.
Different types of devices are required to perform different types of test and measurement tasks. The cost of installing test / measurement equipment and test equipment is high. In addition, competent professionals are required to operate the testing and measuring equipment and perform the tests in accordance with the regulations and guidelines applicable to the equipment being tested. Many small businesses have smaller budgets. They cannot afford to spend too much capital on the installation and maintenance of testing and measuring equipment, and the hiring of skilled workers who charge high wages. End users of
Test and measurement equipment are very price conscious. They demand cheap test and measurement devices, but are willing to compromise on the quality of the devices and their additional features. This puts more and more pressure on test and measurement equipment manufacturers to reduce costs.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
3.7% |
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Segments Covered |
By Product Type, Services, Industry Vertical and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
FORTIVE, Keysight Technologies, Rohde & Schwarz, Advantest, National Instruments, Viavi Solutions, Anritsu, Yokagwa Electric, EXFO, Texas Instruments and Others. |
General-purpose test equipment includes oscilloscopes, signal generators, digital mustimeters, logic analysers, spectrum analysers, bit error rate tester (BERT) solutions, network analysers, wattmeter’s, electronic counters, modular equipment, and automated test equipment (ATE). And power supply included. Features of these types of devices include large and bulky displays and a slightly more complex control system and user interface for customers. These qualities are predicted to change to some extent as a result of rising demand for small devices and test and measurement equipment manufacturers' focus on merging multiple types of devices into a single product.
Most test and measurement devices offer higher bandwidth, higher accuracy, and higher resolution than their predecessors. Some prominent industries in which such devices are used are IT and telecom, healthcare, automotive, and industry.
Repair services are provided for material and manufacturing defects. The purpose of repair is similar to troubleshooting, where you need to identify and fix defects that exist in your product at various stages of the product life cycle. Companies engage with customers through toll-free, online chat, or email and provide 24/7 technical support. This allows test and measurement equipment suppliers to minimize time requirements and improve the quality of the products under test.
Customers or end users can also benefit from training and development programmes provided by market participants. Training helps users better understand the technical and operational aspects to reduce error rates. For example, Yokogawa offers training programs on basic aspects and applications, control techniques and maintenance. Rohde & Schwarz offers repair services such as repairs, warranty extensions, repair packages, express repairs and spare parts.
The test and measurement equipment market are 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 plugs in cars by the end of June 2019. These included both hybrids and fully-electric vehicles. Growing adoption of electric and hybrid vehicles, as well as emerging demand for autonomous vehicles, are expected to drive market growth during the forecast period. For their infotainment system and other automobile accessories, most autonomous vehicles use wireless communications standards such as long-term evolution (LTE) and Wi-Fi. By 2020, approximately 150 million vehicles will be Wi-Fi enabled, with 60 to 75 percent of them capable of consuming, creating, and sharing Web-based data. These modern electronic devices in automobiles are significantly increasing the demand for RF testing equipment.
Markets in the region are expected to be driven by rising demand from the healthcare and IT & telecom sectors. With advances in autonomous driving technology and recent trends in Internet of Things (IoT) technology, we need to improve the bandwidth and latency reductions that are easily achieved with 5G. The United States is one of the countries that is actively participating in the national 5G commercialization league.
In addition, the transition to connected cars and intelligent transportation systems is expected to drive the region's testing and measuring equipment market, with increasing demand for medical equipment following Pandemic. In addition, the strong presence of large companies providing testing and measuring equipment in the region and the high demand for testing and measuring applications for various applications in the healthcare and telecommunications industries are driving market growth in North America.
Major Key Players in the Global Test and Measurement Equipment Market areFORTIVE, Keysight Technologies, Rohde & Schwarz, Advantest, National Instruments, Viavi Solutions, Anritsu, Yokagwa Electric, EXFO, Texas Instruments, and others.
By Product Type
By Services
By Industry Vertical
By Region
Frequently Asked Questions
The global test and measurement equipment market is expected to grow at a CAGR of 3.7 percent during the forecast period.
The global testing and measuring equipment market is expected to be worth USD 35.72 billion by 2029.
The major companies covered by the test and measurement equipment market report are Fortive, Anritsu, Rohde & Schwarz, Keysight Technologies, Advantest, Viavi Solutions, Yokogawa Electric, EXFO, Teledyne Technologies Incorporated, Texas Instruments Incorporated, EXFO, NATIONAL INSTRUMENTS CORP, and NATIONAL INSTRUMENTS. is. Especially CORP.
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