According to the recent report by IMARC Group, titled “Test and Measurement Equipment Market”Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global test and measurement equipment market size reached a US$ 24.34 Billion in 2020 and expected to market to reach a value of US$ 30.09 Billion by 2026, exhibiting a CAGR of 3.70% during 2021-2026.
Test and measurement equipment represent various tools that are utilized to measure, display, analyze, and record electrical data. Some widely used test and measurement equipment include ammeters, voltmeters, wattmeters, oscilloscopes, digital multimeters, spectrum analyzers, etc. These tools help generate electrical signals and capture the responses from multiple devices to identify faults and ensure the smooth functioning of the machine. Test and measurement equipment are designed to determine length, voltage, temperature, weight, current, etc. Consequently, they find several applications across numerous sectors, such as medical, aerospace, defense, automotive, telecommunication, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Base Year: 2020
Forecast Year: 2021-2026
Global Test and Measurement Equipment Market Trends:
The growing demand for consumer electronic products, including flat-screen TVs, refrigerators, washing machines, smartwatches, etc., is one of the primary factors driving the test and measurement equipment market. Furthermore, the expanding utilization of advanced and integrated technologies, such as Big Data, IoT, RF testing, high-speed digital standards, etc., is also propelling the market growth. In line with this, the introduction of 5G technologies is acting as another significant growth-inducing factor. Moreover, the rising usage of semiconductor devices with various auxiliary features, such as robotics and sensors, is further augmenting the global market. In addition to this, the escalating requirement for efficient electronic appliances that exhibit high performance and guarantee prolonged shelf-life is expected to fuel the test and measurement equipment market over the forecasted period.
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Global Test and Measurement Equipment 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Advantest Corporation, Anritsu Corporation, EXFO Inc., Fortive, Keysight Technologies, National Instruments, Rohde & Schwarz, Teledyne Technologies Incorporated, Texas Instruments Incorporated, VIAVI Solutions Inc. and Yokogawa Electric Corporation.
The report has segmented the market on the basis on region, product, service type and end use industry.
Breakup by Product:
- General Purpose Test Equipment (GPTE)
- Signal Generators
- Logic Analyzers
- Spectrum Analyzers
- Bert (Bit Error Rate Test)
- Network Analyzers
- Mechanical Test Equipment (MTE)
- Non-Destructive Test Equipment
- Machine Vision Inspection
- Machine Condition Monitoring
Breakup by Service Type:
- Calibration Services
- Repair Services/After-Sales Services
Breakup by End Use Industry:
- Automotive and Transportation
- Aerospace and Defense
- IT and Telecommunication
- Semiconductor and Electronics
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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