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.
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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.
Global Test and Measurement Equipment Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. X.X Billion
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Revenue Forecast in 2030
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U.S.D. 37.0 Billion
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Growth Rate
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3.6%
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Segments Covered in the Report
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By Product, By Service Type and By End User
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America, Europe, Asia-Pacific, Middle East, and Rest of the World
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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
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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 2025–2030.
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
- 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
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Source: VynZ Research
.png "Global Test and Measurement Equipment Market Analysis")
Source: VynZ Research
