Market Scenario
The test and measurement equipment market is not just growing; it is accelerating. Increasing adoption of electronic devices and increased penetration of modular instrumentation are some of the major factors driving the market of test and measurement equipment. Also, high expense on research and development and increasing commercialization of the internet of things are other factors responsible for driving the growth of Test and Measurement Equipment Market in the coming years.
Fortive, Rohde & Schwarz, Anritsu Corporation, Keysight Technologies, Yokogawa Electric Corporation, National Instruments Corporation, Teledyne Technologies, Inc. and Texas Instruments Inc. are a few major players in the global test and measurement equipment market. Increasing adoption of test and measurement equipment solutions in IT & telecommunications and automotive industries is fueling the market growth. This is owing to the advancements in technology towards networking and communication.
The product segment comprises of mechanical test equipment and general-purpose test equipment. However, general-purpose test equipment sub-segment is expected to hold the largest market share of the global test and measurement equipment market. The general-purpose test equipment sub-segment is further classified into oscilloscopes, signal generator, digital multimeter, logic analyzer, spectrum analyzer, network analyzer, power meter, electronic counter, modular instrumentation and automatic test equipment. This is owing to the increasing demand for test and measurement equipment for industrial applications. The growth of general purpose test equipment is attributed to the increasing demand for smartphones in the consumer electronics segment.
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The global test and measurement equipment market is expected to grow at a CAGR of approximately 4% during the forecast period 2017-2023.
Key Players:
Some of the prominent players in the global test and measurement equipment market are Fortive (U.S.), Rohde & Schwarz (Germany), Anritsu Corporation (Japan), Keysight Technologies (U.S.), Yokogawa Electric Corporation (Japan), National Instruments Corporation (U.S.), EXFO (Canada), Advantest Corporation (Japan), Viavi Solutions (U.S.), Cobham plc. (U.K), Teledyne Technologies, Inc. (U.S.), and Texas Instruments Inc., (U.S.) among others.
Segments
The global test and measurement equipment market is segmented by product, service, and application. Based on the product, the market is segmented into mechanical test equipment and general purposes test equipment. The mechanical test equipment segment is further classified into machine vision inspection, machine condition monitoring, and non-destructive test equipment. Whereas, the general-purpose test equipment sub-segment is further classified into oscilloscopes, signal generator, digital multimeter, logic analyzer, spectrum analyzer, network analyzer, power meter, electronic counter, modular instrumentation, and automatic test equipment. Based on the service, the market is segmented into after-sales services, calibration services, and others. The other services include asset management, climatic product testing, training & consulting, and shock testing. Whereas, based on application, the market is segmented into automotive, aerospace & defense, electronics & semiconductors, industrial, education, IT & telecommunication and healthcare.
Regional Analysis
The global test and measurement equipment market is studied in Asia Pacific, North America, Europe, and the Rest of the World. Asia Pacific is estimated to account for the largest share of the market, whereas North America is projected to grow at the fastest rate during the forecast period. The growth of the market in Asia Pacific is attributed to technological advancements and increased adoption of test and measurement equipment solutions across various industry verticals.
Intended Audience
- Technology Investors
- Research/Consultancy Firms
- Government Bodies
- Consulting Service Providers
- Technology Providers
- System Integrators
- Software Vendors
- Web Content Developers
- Service Providers
- Cloud Platform Providers
- Mobile Application Developers
- Communication Service Providers (CSPs)
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Test and Measurement Equipment Market Research Report: By Product (General Purpose, Mechanical), Service (After Sales Services, Calibration Services), Application (Automotive, IT & Telecommunication, Electronics & Semiconductor) – Forecast till 2023Market Overview:Test and measurement equipment is essential to detect faults and ensure proper functioning of any electronic devices.
As per the report that has been published by Market Research Future (MRFR), the global test and measurement equipment market is anticipated to expand steadily at a CAGR of 4% during the forecast period of 2017-2023.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/5718Market Drivers:Increasing utilization of test and measurement equipment in defense sector for various applications such as precision strike application, cyber and intelligence gathering, defense electronics and others are majorly driving the growth f the global test and measurement equipment market.
Widespread application of test and measurement equipment in consumer electronics for checking the performance of command execution, surveillance application, communication network, and computer intelligence are propelling the growth of the global test and measurement equipment market.
Increasing number of smart phone users, increasing IP traffic and evolution of IoT are impacting positively on the expansion of the global test and measurement market during the forecast period.Key Players:Some of the prominent players in the global Test and Measurement Equipment Market are Fortive (U.S.), Rohde & Schwarz (Germany), Anritsu Corporation (Japan), Keysight Technologies (U.S.), Yokogawa Electric Corporation (Japan), National Instruments Corporation (U.S.), EXFO (Canada), Advantest Corporation (Japan), Viavi Solutions (U.S.), Cobham plc.
Based on the product, the test and measurement equipment market has been segmented into mechanical test equipment and general purposes test equipment.
The general-purpose test equipment segment is sub-segmented into oscilloscopes, signal generator, digital multimeter, logic analyzer, spectrum analyzer, network analyzer, power meter, electronic counter, modular instrumentation, and automatic test equipment.Based on the service, the test and measurement equipment market has been segmented into after-sales services, calibration services, and others.
