Status : Published | Published On : Jan, 2021 | Report Code : VRSME9024 | Industry : Semiconductor & Electronics | Available Format :
![]() |
Page : 161 |
Industry Overview
The global test and measurement equipment market is estimated to be USD 26.3 billion in 2020 and is predicted to reach USD 33.1 billion by 2027, growing at a CAGR of 3.6% during the forecast period. The factors responsible for the growth of test and measurement equipment across the globe are increasing applications of test and measurement equipment in the IT & telecommunications, education & government, automotive & transportation, aerospace & defense, industrial, and healthcare sectors.
Market Segmentation
Insight by Service Type
On the basis of service type, the test and measurement equipment market is categorized into calibration services, repair services/after-sales services, asset management, consulting & training services, climatic product testing, and others.
Insight by End User
On the basis of end user, the test and measurement equipment market is categorized into automotive & transportation, aerospace & defense, it & telecommunications, education & government, semiconductor & electronics, industrial, and healthcare. In 2019, the automotive and transportation segment dominated the biosensors market. Growing number of automotive manufacturing hubs in the world, implementing advanced automation technologies for production is expected to enhance the growth of the test and measurement equipment market.
Scope of the Report
Report Metric |
Details |
Market Size Available for the Years in the Study |
2015–2027 |
Historical Period |
2019–2020 |
Base Year |
2020 |
Forecast Period |
2021–2027 |
Segments Covered in the Study |
Product, Service Type, End User, and Region |
Geographies Covered in the Study |
North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.) |
Companies Covered in the Study |
Keysight Technologies, Advantest, Rohde & Schwarz, Fortive, National Instruments, Anritsu, EXFO, Yokogawa Electric, Texas Instruments, and Teledyne |
Industry Dynamics
Growth Drivers
The primary factors driving the growth of the global test and measurement equipment market are:
The major factors responsible for the growth of the global test and measurement equipment market are increase in uses in the IT & telecommunications sector, technological advancement, and increase in demand for electronic devices. Moreover, arrival of 5G technology and deployment of LTE & LTE-Advanced (4G) Networks Rapid Penetration of IoT Devices are expected to support the growth of the market.
Challenges
The price sensitivity of test and measurement equipment may hinder the growth of the global test and measurement equipment market.
Geographic Overview
Geographically, Asia-Pacific is expected to be the largest revenue contributor in the test and measurement equipment market during the forecast period. The Asia-Pacific region is a major industrial hub in the world, which includes automotive, electrical, and electronics. Asia-Pacific is the largest automobile manufacturer in the world. Furthermore, in the APAC region, countries such as China, India, and South Korea are leading producers of consumer electronic devices, including smartphones, laptops, and gaming consoles. Aforementioned factors contribute to the growth of the test and measurement equipment market in the region.
Competitive Insight
Key players operating in the global test and measurement equipment market include Keysight Technologies, Advantest, Rohde & Schwarz, Fortive, National Instruments, Anritsu, EXFO, Yokogawa Electric, Texas Instruments, and Teledyne.
Keysight is a leading provider of test and measurement equipment in the areas of electronics design, electromobility, test software, modular instrumentation and solutions, network monitoring, 5G, LTE, IoT, and connected cars. The company focuses on providing end-to-end customization, consulting, and optimization services to the customers throughout the lifespan of the product as it prefers a wide range of products & services.
Rohde & Schwarz is one of the world's largest manufacturers of electronic testing and measuring equipment. The company offers a wide range of products to provide leading solutions for new wireless technologies, RD and microwave applications up to 500 GHz.
Forecast Parameters
Data Validation
Research Phases
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.
Source: VynZ Research
Source: VynZ Research
Test and Measurement Equipment Market