Factors driving the need for test and measurement equipment include growing demand for electronics products which is in turn boosting the need for testing and measurement equipment, rising investments in research and development, technological innovations and advancement in communication and networking, and complimentary government policies in various emerging countries. The fast growth of the communication sector in Asia-Pacific region is one of the significant factors propelling the growth of test and measurement equipment market, globally. The rising adoption of test and measurement solutions by mobile device manufacturers, telecom service providers, and network equipment manufacturers is expected to boost the growth of this market in coming years. Also, Asia-Pacific provides major growth opportunities for communication test and measurement solutions as mobile device manufacturers heavily depend on communication test and measurement solutions to offer their consumers with high-performance and high-quality service. In the global communications sector, Asia-Pacific is one of the rapidly growing markets, and thereby has created a significant base of mobile Internet subscribers in developing countries such as China and India. This is expected to generate high demand for faster 4G network and capacity expansion. The growth of 4G network in Asia-Pacific region will boost the growth of test and measurement equipment market in near future.
This market research report covers detailed analysis of test and measurement equipment market on the basis of service, application, equipment type, and geography. Based on application, the industrial segment commands largest share in the global test and measurement equipment market. Different test and measurement equipment are used at various stages of product life cycle such as manufacturing, designing, research and development, and so on. Test and measurement equipment play a significant role in each of these stages. Based on services, the market for calibration services commands the largest share in global test measurement equipment market.
The market for modular instrumentation such as VXI/PXI-based equipment in general purpose test and measurement equipment is expected to grow at a rapid pace during the future years as it represents an advanced instrumentation platform, in which engineers can test the entire system with the help of integrated software and hardware present in this instrumentation. The market for non-destructive test equipment in case of mechanical test equipment type is estimated to grow at a rapid pace during the future years.
Based on geography, the Asia-Pacific region is expected to command a large share and grow at a rapid pace during the forecast period. The rise in research and development in the sector of testing and measurement and high demand from emerging countries such as China and India would further fuel the market growth. The complimentary government policies for manufacturing industries and the usherance of major companies in Asia-Pacific would further build up the market potential.
Owing to the rapid technological development in telecommunications sector, it is extremely challenging to design and develop new equipment for test and measurement. The major companies in this market include Rohde & Schwarz, Tektronix, Inc., Anritsu Corporation, Fluke Corporation, Yokogawa Electric Corporation, EXFO Inc., Agilent Technologies, Vaivi Solution, Inc., National Instruments, Keysight Technologies, Texas Instruments, Inc., Advantest Corporation, and Texas Instruments Inc. among others. These companies adopted numerous strategies such as partnerships, new product developments, business expansions and collaborations to meet the demands of this market.
Market by Type
· General purpose test equipment
o Signal generators
o Arbitrary waveform generators
o Logic analyzers
o Spectrum analyzers
o Network analyzers
o BERT (bit error rate test)
o Modular instrumentation (VXI/PXI)
o Automatic test equipment
o Others (power meters, electronic counters)
· Mechanical test equipment
o Non-destructive test equipment
o Machine vision inspection
o Condition monitoring
Market by Service
· Calibration services
· Repair service/after-sales services
Market by End-use Industry
· Semiconductor and Electronics
· Automotive & Transportation
· Aerospace & Defense
· Education and Government
· Healthcare (Medical)
Market by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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