Test and Measurement Equipment Market

Industry Overview

According to market analysis, the test and measurement equipment market is projected to expand significantly in the coming years. By 2030, it is expected to reach a valuation of USD 37 billion, growing at a steady CAGR of 3.6% throughout the forecast period. The widespread adoption of test and measurement equipment across various industries such as IT & telecommunications, education & government, automotive & transportation, aerospace & defense, industrial, and healthcare sectors is a key driver behind this growth. This surge in demand can be attributed to the expanding applications and benefits offered by these tools on a global scale.

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.

Test and Measurement Equipment Market Report Coverage

Industry Dynamics

Growth Drivers

The primary factors driving the growth of the global test and measurement equipment market are:

• - Increasing adoption of electronic devices
• - Growing penetration of modular instrumentation
• - Technological advancement towards networking and communication
• - Rising demand for high-performance and power-efficient electronic devices

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

• - Identifying variables and establishing market impact.
• - Establishing market trends regionally.
• - Analyzing opportunities and market penetration rates by understanding product commercialization, regional expansion.
• - Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
• - Analyzing sustainability strategies adhered by market participants in an attempt to determine future course of the market.
• - Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trend.
• - Understanding adoption, development, distribution and regulatory framework.

Data Validation

• - Estimated and forecasted data was validated through industry experts.
• - Apart from industry experts, data triangulation methods were used for validation.
• - Bottom up and top down approach has been used for estimation and forecast of market data, whereas top down approach was used for validation.
• - Demand as well as supply side surveys were conducted in order to understand the industry dynamics and 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.

The Test and Measurement Equipment Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.

Segments Covered in the Report

• By Product
  • Oscilloscopes
  • Signal Generators
  • Multimeters
  • Logic Analyzers
  • Spectrum Analyzers
  • Bert (Bit Error Rate Test)
  • Network Analyzers
  • Power Meters
  • Electronic Counters
  • Modular Instrumentation
  • Automated Test Equipment (ATE)
  • Power Supplies
  • Non-Destructive Test Equipment
  • Machine Vision Inspection
  • Machine Condition Monitoring
• By Service Type
  • Calibration Services
  • Repair Services/After-Sales Services
  • Asset Management
  • Consulting & Training Services
  • Climatic Product Testing
  • Others
• By End User
  • Automotive & Transportation
  • Aerospace & Defense
  • IT & Telecommunications
  • Education & Government
  • Semiconductor & Electronics
  • Industrial
  • Healthcare

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

Source: VynZ Research

Source: VynZ Research

1.    Research Overview 

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Product
                1.2.2.    By Service Type
                1.2.3.    By End User
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Research Methodology
                1.5.1.    Data Sources
                        1.5.1.1.    Primary Research
                        1.5.1.2.    Secondary Research
                1.5.2.    Methodology
                        1.5.2.1.    Data Exploration
                        1.5.2.2.    Forecast Parameters
                        1.5.2.3.    Data Validation
                        1.5.2.4.    Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

        5.1.    By Product    
                5.1.1.    Oscilloscopes
                        5.1.1.1.    Market Definition
                        5.1.1.2.    Market Estimation and Forecast to 2030
                5.1.2.    Signal Generators
                        5.1.2.1.    Market Definition
                        5.1.2.2.    Market Estimation and Forecast to 2030
                5.1.3.    Multimeters
                        5.1.3.1.    Market Definition
                        5.1.3.2.    Market Estimation and Forecast to 2030
                5.1.4.    Logic Analyzers
                        5.1.4.1.    Market Definition
                        5.1.4.2.    Market Estimation and Forecast to 2030
                5.1.5.    Spectrum Analyzers
                        5.1.5.1.    Market Definition
                        5.1.5.2.    Market Estimation and Forecast to 2030
                5.1.6.    Bit Error Rate Test (BERT)
                        5.1.6.1.    Market Definition
                        5.1.6.2.    Market Estimation and Forecast to 2030
                5.1.7.    Network Analyzers
                        5.1.7.1.    Market Definition
                        5.1.7.2.    Market Estimation and Forecast to 2030
                5.1.8.    Power Meters
                        5.1.8.1.    Market Definition
                        5.1.8.2.    Market Estimation and Forecast to 2030
                5.1.9.    Electronic Counters
                        5.1.9.1.    Market Definition
                        5.1.9.2.    Market Estimation and Forecast to 2030
                5.1.10.    Modular Instrumentation
                        5.1.10.1.    Market Definition
                        5.1.10.2.    Market Estimation and Forecast to 2030
                5.1.11.    Automated Test Equipment (ATE)
                        5.1.11.1.    Market Definition
                        5.1.11.2.    Market Estimation and Forecast to 2030
                5.1.12.    Power Supplies
                        5.1.12.1.    Market Definition
                        5.1.12.2.    Market Estimation and Forecast to 2030
                5.1.13.    Non-Destructive Test Equipment
                        5.1.13.1.    Market Definition
                        5.1.13.2.    Market Estimation and Forecast to 2030
                5.1.14.    Machine Vision Inspection
                        5.1.14.1.    Market Definition
                        5.1.14.2.    Market Estimation and Forecast to 2030
                5.1.15.    Machine Condition Monitoring
                        5.1.15.1.    Market Definition
                        5.1.15.2.    Market Estimation and Forecast to 2030
        5.2.    By Service Type
                5.2.1.    Calibration Services
                        5.2.1.1.    Market Definition
                        5.2.1.2.    Market Estimation and Forecast to 2030
                5.2.2.    Repair Services/After-Sales Services
                        5.2.2.1.    Market Definition
                        5.2.2.2.    Market Estimation and Forecast to 2030
                5.2.3.    Asset Management
                        5.2.3.1.    Market Definition
                        5.2.3.2.    Market Estimation and Forecast to 2030
                5.2.4.    Consulting & Training Services
                        5.2.4.1.    Market Definition
                        5.2.4.2.    Market Estimation and Forecast to 2030
                5.2.5.    Climatic Product Testing
                        5.2.5.1.    Market Definition
                        5.2.5.2.    Market Estimation and Forecast to 2030
                5.2.6.    Others
                        5.2.6.1.    Market Definition
                        5.2.6.2.    Market Estimation and Forecast to 2030
        5.3.    By End User
                5.3.1.    Automotive & Transportation
                        5.3.1.1.    Market Definition
                        5.3.1.2.    Market Estimation and Forecast to 2030
                5.3.2.    Aerospace & Defense
                        5.3.2.1.    Market Definition
                        5.3.2.2.    Market Estimation and Forecast to 2030
                5.3.3.    IT & Telecommunications
                        5.3.3.1.    Market Definition
                        5.3.3.2.    Market Estimation and Forecast to 2030
                5.3.4.    Education & Government
                        5.3.4.1.    Market Definition
                        5.3.4.2.    Market Estimation and Forecast to 2030
                5.3.5.    Semiconductor & Electronics
                        5.3.5.1.    Market Definition
                        5.3.5.2.    Market Estimation and Forecast to 2030
                5.3.6.    Industrial
                        5.3.6.1.    Market Definition
                        5.3.6.2.    Market Estimation and Forecast to 2030
                5.3.7.    Healthcare
                        5.3.7.1.    Market Definition
                        5.3.7.2.    Market Estimation and Forecast to 2030

6.    North America Market Estimate and Forecast

        6.1.    By Product
        6.2.    By Service Type
        6.3.    By End User
        6.4.    By Country
                6.4.1.    U.S. Market Estimate and Forecast
                6.4.2.    Canada Market Estimate and Forecast
                6.4.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.    By Product
        7.2.    By Service Type
        7.3.    By End User
        7.4.    By Country
                7.4.1.    Germany Market Estimate and Forecast
                7.4.2.    France Market Estimate and Forecast
                7.4.3.    U.K. Market Estimate and Forecast
                7.4.4.    Italy Market Estimate and Forecast
                7.4.5.    Spain Market Estimate and Forecast
                7.4.6.    Russia Market Estimate and Forecast
                7.4.7.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Product
        8.2.    By Service Type
        8.3.    By End User
        8.4.    By Country 
                8.4.1.    China Market Estimate and Forecast
                8.4.2.    Japan Market Estimate and Forecast
                8.4.3.    India Market Estimate and Forecast
                8.4.4.    South Korea Market Estimate and Forecast
                8.4.5.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Product
        9.2.    By Service Type
        9.3.    By End User
        9.4.    By Country
                9.4.1.    Brazil Market Estimate and Forecast
                9.4.2.    Saudi Arabia Market Estimate and Forecast
                9.4.3.    South Africa Market Estimate and Forecast
                9.4.4.    U.A.E. Market Estimate and Forecast
                9.4.5.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.    Keysight Technologies
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.    Advantest
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    Rohde & Schwarz
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    Fortive
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.    National Instruments
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    Anritsu
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    EXFO
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.    Yokogawa Electric
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    Texas Instruments
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10.    Teledyne
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight 
                10.10.5. Recent Developments

11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to availability of information in secondary domain.

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Test and Measurement Equipment Market Size, by Product, 2018 – 2022 (USD Billion)
Table 5 Global Test and Measurement Equipment Market Size, by Product, 2023 – 2030 (USD Billion)
Table 6 Global Test and Measurement Equipment Market Size, by Service Type, 2018 – 2022 (USD Billion)
Table 7 Global Test and Measurement Equipment Market Size, by Service Type, 2023 – 2030 (USD Billion)
Table 8 Global Test and Measurement Equipment Market Size, by End User, 2018 – 2022 (USD Billion)
Table 9 Global Test and Measurement Equipment Market Size, by End User, 2023 – 2030 (USD Billion)
Table 10 Global Test and Measurement Equipment Market Size, by Region, 2018 – 2022 (USD Billion)
Table 11 Global Test and Measurement Equipment Market Size, by Region, 2023 – 2030 (USD Billion)
Table 12 North America Test and Measurement Equipment Market Size, by Product, 2018 – 2022 (USD Billion)
Table 13 North America Test and Measurement Equipment Market Size, by Product, 2023 – 2030 (USD Billion)
Table 14 North America Test and Measurement Equipment Market Size, by Service Type, 2018 – 2022 (USD Billion)
Table 15 North America Test and Measurement Equipment Market Size, by Service Type, 2023 – 2030 (USD Billion)
Table 16 North America Test and Measurement Equipment Market Size, by End User, 2018 – 2022 (USD Billion)
Table 17 North America Test and Measurement Equipment Market Size, by End User, 2023 – 2030 (USD Billion)
Table 18 North America Test and Measurement Equipment Market Size, by Country, 2018 – 2022 (USD Billion)
Table 19 North America Test and Measurement Equipment Market Size, by Country, 2023 – 2030 (USD Billion)
Table 20 Europe Test and Measurement Equipment Market Size, by Product, 2018 – 2022 (USD Billion)
Table 21 Europe Test and Measurement Equipment Market Size, by Product, 2023 – 2030 (USD Billion)
Table 22 Europe Test and Measurement Equipment Market Size, by Service Type, 2018 – 2022 (USD Billion)
Table 23 Europe Test and Measurement Equipment Market Size, by Service Type, 2023 – 2030 (USD Billion)
Table 24 Europe Test and Measurement Equipment Market Size, by End User, 2018 – 2022 (USD Billion)
Table 25 Europe Test and Measurement Equipment Market Size, by End User, 2023 – 2030 (USD Billion)
Table 26 Europe Test and Measurement Equipment Market Size, by Country, 2018 – 2022 (USD Billion)
Table 27 Europe Test and Measurement Equipment Market Size, by Country, 2023 – 2030 (USD Billion)
Table 28 Asia-Pacific Test and Measurement Equipment Market Size, by Product, 2018 – 2022 (USD Billion)
Table 29 Asia-Pacific Test and Measurement Equipment Market Size, by Product, 2023 – 2030 (USD Billion)
Table 30 Asia-Pacific Test and Measurement Equipment Market Size, by Service Type, 2018 – 2022 (USD Billion)
Table 31 Asia-Pacific Test and Measurement Equipment Market Size, by Service Type, 2023 – 2030 (USD Billion)
Table 32 Asia-Pacific Test and Measurement Equipment Market Size, by End User, 2018 – 2022 (USD Billion)
Table 33 Asia-Pacific Test and Measurement Equipment Market Size, by End User, 2023 – 2030 (USD Billion)
Table 34 Asia-Pacific Test and Measurement Equipment Market Size, by Country, 2018 – 2022 (USD Billion)
Table 35 Asia-Pacific Test and Measurement Equipment Market Size, by Country, 2023 – 2030 (USD Billion)
Table 36 RoW Test and Measurement Equipment Market Size, by Product, 2018 – 2022 (USD Billion)
Table 37 RoW Test and Measurement Equipment Market Size, by Product, 2023 – 2030 (USD Billion)
Table 38 RoW Test and Measurement Equipment Market Size, by Service Type, 2018 – 2022 (USD Billion)
Table 39 RoW Test and Measurement Equipment Market Size, by Service Type, 2023 – 2030 (USD Billion)
Table 40 RoW Test and Measurement Equipment Market Size, by End User, 2018 – 2022 (USD Billion)
Table 41 RoW Test and Measurement Equipment Market Size, by End User, 2023 – 2030 (USD Billion)
Table 42 RoW Test and Measurement Equipment Market Size, by Country, 2018 – 2022 (USD Billion)
Table 43 RoW Test and Measurement Equipment Market Size, by Country, 2023 – 2030 (USD Billion)
Table 44 Snapshot – Keysight Technologies
Table 45 Snapshot – Advantest
Table 46 Snapshot – Rohde & Schwarz
Table 47 Snapshot – Fortive
Table 48 Snapshot – National Instruments
Table 49 Snapshot – Anritsu
Table 50 Snapshot – EXFO
Table 51 Snapshot – Yokogawa Electric
Table 52 Snapshot – Texas Instruments
Table 53 Snapshot – Teledyne

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Test and Measurement Equipment Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Test and Measurement Equipment Market Highlight
Figure 12 Global Test and Measurement Equipment Market Size, by Product, 2018 – 2030 (USD Billion)
Figure 13 Global Test and Measurement Equipment Market Size, by Service Type, 2018 – 2030 (USD Billion)
Figure 14 Global Test and Measurement Equipment Market Size, by End User, 2018 – 2030 (USD Billion)
Figure 15 Global Test and Measurement Equipment Market Size, by Region, 2018 – 2030 (USD Billion)
Figure 16 North America Test and Measurement Equipment Market Highlight
Figure 17 North America Test and Measurement Equipment Market Size, by Product, 2018 – 2030 (USD Billion)
Figure 18 North America Test and Measurement Equipment Market Size, by Service Type, 2018 – 2030 (USD Billion)
Figure 19 North America Test and Measurement Equipment Market Size, by End User, 2018 – 2030 (USD Billion)
Figure 20 North America Test and Measurement Equipment Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 21 Europe Test and Measurement Equipment Market Highlight
Figure 22 Europe Test and Measurement Equipment Market Size, by Product, 2018 – 2030 (USD Billion)
Figure 23 Europe Test and Measurement Equipment Market Size, by Service Type, 2018 – 2030 (USD Billion)
Figure 24 Europe Test and Measurement Equipment Market Size, by End User, 2018 – 2030 (USD Billion)
Figure 25 Europe Test and Measurement Equipment Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 26 Asia-Pacific Test and Measurement Equipment Market Highlight
Figure 27 Asia-Pacific Test and Measurement Equipment Market Size, by Product, 2018 – 2030 (USD Billion)
Figure 28 Asia-Pacific Test and Measurement Equipment Market Size, by Service Type, 2018 – 2030 (USD Billion)
Figure 29 Asia-Pacific Test and Measurement Equipment Market Size, by End User, 2018 – 2030 (USD Billion)
Figure 30 Asia-Pacific Test and Measurement Equipment Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 31 RoW Test and Measurement Equipment Market Highlight
Figure 32 RoW Test and Measurement Equipment Market Size, by Product, 2018 – 2030 (USD Billion)
Figure 33 RoW Test and Measurement Equipment Market Size, by Service Type, 2018 – 2030 (USD Billion)
Figure 34 RoW Test and Measurement Equipment Market Size, by End User, 2018 – 2030 (USD Billion)
Figure 35 RoW Test and Measurement Equipment Market Size, by Country, 2018 – 2030 (USD Billion)