Test and Measurement Equipment Market Research Report: By Services (Professional Services (Integration Service, Repair/Support & Maintenance Service, Consulting Services), Managed Service),By Product (General Purpose Test Equipment(Oscilloscope, Signal Generator, Analyzers, Meters, Thermal Imagers, Bit Error Ratio Testers (BERT), Others), Wireless Test Equipment (Logic Analyzers, Spectrum Analyzers, Network Analyzers, Network Simulators), Semiconductor Test Equipment, RF Test Chambers), by Component (Connectors, Cables Assemblies, Value Added Accessories), , By Application (Aerospace & Defense, Healthcare & Medical Equipment, Telecommunication, Electronics & Semiconductor, Industrial & Manufacturing, Automotive) - Forecast 2027
|ID: VPR/SEM/1036||Publishing Year: October 2021||Pages: 189||Format:|
Test and Measurement Equipment Market Overview:
The Test and Measurement Equipment Market is projected to grow from USD 31 billion in 2020 to reach USD 42.3 billion by 2027; it is expected to grow at a CAGR of 4.54% from 2020 to 2027.
Test and Measurement Equipment is used during the design and manufacturing of a product or service to ensure that the highest degree of customer satisfaction is achieved. Test and Measurement Equipment is critical in delivering high-quality products and services to customers. Medical, automotive, energy, telecommunications, consumer electronics, semiconductors, aerospace, and defence industries all require Test and Measurement Equipment. In several stages of the product life cycle, such as the design of new products and the development of existing items, Test and Measurement Equipment is employed. End-of-life products are also inspected with Test and Measurement Equipment. The general-purpose test equipment segment has the biggest market share by product, followed by mechanical test equipment. Oscilloscopes, which are used in automated test equipment, account for the majority of the Test and Measurement Equipment Market share in general-purpose test equipment.
Geographically, North America has the greatest Test and Measurement Equipment Market share due to the presence of multiple significant companies. Furthermore, the Asia-Pacific area is predicted to develop at the quickest rate due to various steps taken by governments in these regions to foster innovation and R&D in their respective countries. Given current advancements in connected and driverless vehicles, the automotive industry is likely to obtain the largest market share. The healthcare sector is likely to drive the test and measurement equipment market due to the development of new healthcare equipment, patient-monitoring systems, and personal emergency reporting systems.
- Fortive Corporation
- Rohde & Schwarz GmbH & Co. KG
- Anritsu Corporation
- Keysight Technologies
- Yokogawa Electric Corporation
- National Instruments Corporation
- EXFO, Inc.
- Advantest Corporation
- VIAVI Solutions Inc.
- Texas Instruments Incorporated
Because of the high demand for effective diagnostic equipment, the COVID-19 pandemic has presented a good opportunity to the industry. It can be used to quickly detect COVID-19 cases and take suitable measures to stop the spread of the virus. The success of cures and vaccines can be credited to well-built Testing and Measurement Equipment. Regardless of vertical, the digital transformation across industries might result in strong Test and Measurement Equipment Market demand.
Electronic devices' performance is verified using Test and Measurement Equipment Market. Testing aids in the identification of components that degrade prematurely as a result of the device's exposure to external turbulences such shocks, temperatures, vibrations, and changing climatic conditions. This research also aids in predicting equipment failure and doing calibration prior to any significant damage. To put it another way, Test and Measurement Instruments aid in the improvement of device shelf life, performance, accuracy, and efficiency.
Semiconductor gadgets are becoming increasingly popular. OEMs, designers, and engineers are concentrating their efforts on developing cutting-edge semiconductor devices with unique features such as robotics and other sorts of sensors. Consumer electronics, for example, is in desperate need of such gadgets. Consumer electrical devices such as flat-screen TVs, refrigerators, washing machines, smartwatches, mobile phones, and air conditioners have become more in demand, necessitating large-scale production. According to the National Investment Promotion & Facilitation Agency (INVEST INDIA), the worldwide electronics market is expected to exceed USD 2 trillion in the next ten years (by 2030). The Indian electronics market was valued at USD 120 billion in 2018-19, according to the report, and the country's share in global electronics production increased from 1.3 percent in 2012 to 3 percent in 2018.
Various sorts of equipment are necessary for various types of tests and measuring operations. The expenditures of installing Testing and Measurement Equipment and establishing testing facilities are substantial. Furthermore, skilled individuals must run Testing and Measuring Equipment and conduct tests in compliance with the legislation and directives that apply to the devices under test. Many small and medium-sized businesses have a limited budget. They can't afford to spend so much money on test and measurement equipment installations and maintenance, or on recruiting professionals who demand exorbitant pay.
The end users of Test and Measurement Equipment Market are extremely cost conscious. They want low-Cost Test and Measurement Equipment, but they aren't willing to sacrifice device quality or extra features. As a result, Testing and Measurement Device Makers are under more pressure to reduce their costs.
The global internet penetration rate has increased dramatically in the last five years. The emergence of the Internet of Things (IoT) and smart applications platform is a key component in the semiconductor industry's overall growth. Almost a third of the world's population now has access to high-bandwidth internet. As a result, the number of internet-enabled smart devices has increased in growing economies such as China, India, and Thailand. The expansion of the Test and Measurement Equipment Market is driven by changes in wireless local area network (WLAN), Bluetooth, ZigBee, and other wireless technologies, since devices based on these technologies must be tested to ensure that they can interact and interoperate seamlessly.
The Internet of Things (IoT) is a vast network of wired and wirelessly connected electronic gadgets. Home appliances, physical devices, cars, and other embedded electronic devices; sensors and actuators; and software solutions may all be part of this network. In the automotive, healthcare, and aerospace &defence industries, a network of IoT-enabled linked devices is introduced to facilitate the exchange, sharing, and interpretation of data required for key applications.
As the adoption of multiple-input multiple-output (MIMO) for 5G New Radio (NR) technology grows, Test and Measurement Equipment Market will be used more frequently to evaluate the performance of the device under test's radiation patterns (DUT). As a result, antenna arrays are employed to compensate for the free space path loss that occurs in high-frequency 5G systems by providing high antenna gain through beamforming. When antenna arrays use many antenna components to obtain directional features, this is known as beamforming. It aids in the reduction of electrical equipment energy usage. The antenna array calibration is done to meet the stringent requirements of antenna array beam steering, which requires exact measurement of phase and amplitude discrepancies between different antenna parts. The DUTs' phase, amplitude, frequency, and timing tolerances must all be calibrated. Antenna arrays, for example, must be calibrated for frequency drift caused by the lack of a common local oscillator (LO) network connecting modules.
The Test and Measurement Equipment Market is divided into three categories: product type, service, and end user. The growth of segments allows you to analyse specific pockets of growth and market approaches, as well as establish your main application areas and target market differences.
The Test and Measurement Equipment Market has been divided into two categories based on product type: general purpose Test Equipment and Mechanical Test Equipment.
The Test and Measurement Equipment Market has been divided into three categories based on service type: calibration services, repair services/after-sales services, and other services. Other services have been subdivided into asset management and asset management plus asset management plus asset management plus asset management plus asset management plus
The United States, Canada, and Mexico in North America, Brazil, Argentina, and the Rest of South America in South America, Germany, Italy, the United Kingdom, France, Spain, the Netherlands, Belgium, Switzerland, Turkey, Russia, and the Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, and the Philippines are among the countries covered in the Test And Measurement Equipment Market report (MEA).
North America dominates the Test and Measurement Equipment Market due to rising demand for test and measurement equipment from a variety of end-use industries, including automotive, electrical, and electronics, while Asia-Pacific is expected to grow in the forecast period of 2020-2027 due to rising demand for high-performance and energy-efficient electronic devices.
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