Test and Measurement Equipment Market by Product (General Purpose Test Equipment and Mechanical Test Equipment), Service Type (Calibration Services, Repair Services, and Other Services), and Industry Vertical (Automotive and Transportation, Aerospace and Defense, IT and Telecommunications, Education and Government, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026948 | Pages: 100 | Industry: Electronics and Semiconductor | Date: Oct 2022 | Type: Global

The test and measurement equipment market is expected to cross US$ 30.23 billion in 2022 and is projected to hit US$ 42.17 billion by 2030, recording a CAGR of 5.2% during the forecast period.

Growing adoption of electronic devices

Electronic gadgets' performance is validated using test and measurement equipment. Testing assists in identifying components that degrade prematurely as a result of the device's exposure to external turbulences such as shocks, heat, vibrations, and variable climatic conditions. This research also aids in the prediction of equipment failure and the performance of calibration prior to any significant damage. In other words, test and measurement instruments aid in the improvement of device shelf life, performance, accuracy, and efficiency. The use of semiconductor devices is rising significantly. Original equipment manufacturers (OEMs), designers, and engineers are concentrating their efforts on developing cutting-edge semiconductor devices with unique features such as robotics and various sorts of sensors. Such devices are in high demand across a variety of industries, including consumer electronics.

Within the report, the test and measurement equipment market is segmented into product, service type, industry vertical, and geography. By product, the market is further segmented into general-purpose test equipment and mechanical test equipment. Based on the service type, the market is divided into calibration services, repair services, and other services. Based on industry vertical the market is divided into automotive and transportation, aerospace and defense, it and telecommunications, education and government, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Test and measurement equipment has created a massive opportunity for the market

All electronic and electrical devices can be authenticated using test and measurement equipment. Testing aids in the identification of components that suffer damage as a result of the device's exposure to external disturbances. This also aids in the analysis of equipment failure and calibration prior to significant damage. The test and measurement equipment contributes to the improvement of device shelf life, accuracy, efficiency, and overall performance. The ongoing research and development of 5G technologies is also driving the test and measurement equipment market. The advancement of these technologies necessitates increasing bandwidth requirements, resulting in a high demand for test and measurement instruments.

Penetration IoT devices

Global internet penetration has increased dramatically during the last five years. The rise of the Internet of Things (IoT) and smart applications platforms is a critical driver in the semiconductor industry's overall growth. Currently, about one-third of the world's population 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 variations in wireless local area network (WLAN), Bluetooth, ZigBee, and other wireless technologies since products based on these technologies must be verified to ensure that they can interact and interoperate flawlessly.

Recent strategic developments in the test and measurement equipment market

The test and measurement equipment market has undergone several significant developments, and a few of these have been mentioned below:

  • In March 2021, VIAVI Solutions released new fibre test and measurement solutions, broadening the industry's most comprehensive fiber-optic testing offering. The company's new optical pro meter, fibre characterization modules, and an enhanced optical time-domain reflectometer (OTDR) solution enable service providers, colocation and hyperscale data centers, enterprises, and contractors to reduce manufacturing costs, improve service minimize, downtime, and increase revenue generation.
  • In March 2021, Anritsu introduced the TRX Test module, MU887002A, developed to improve the efficiency of 5G wireless communication equipment production-line inspections, as well as its space saving universal wireless test set.

The test and measurement equipment market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ADLINK Technology Inc., ADVANTEST CORPORATION, Anritsu Corporation, EXFO Inc., and Rohde & Schwarz are among the prominent players operating in the market.

The target audience for the report:

  • Raw material providers
  • Electronics providers
  • Test and measurement equipment providers
  • Test and measurement equipment -related service providers
  • Test and measurement equipment associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Test and measurement equipment component suppliers
  • Test and measurement equipment distributors and sales firms
  • End users of test and measurement equipment
  • Research institutes, organizations, and consulting companies

Scope of the report:

  • Product:
    • General Purpose Test Equipment
    • Mechanical Test Equipment
  • Service Type:
    • Calibration Services
    • Repair Services
    • Other Services
  • Industry Vertical:
    • Automotive and Transportation
    • Aerospace and Defense
    • IT and Telecommunications
    • Education and Government
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • Rest of the World
  • Companies profiled
    • ADLINK Technology Inc.
    • Anritsu Corporation
    • EXFO Inc.
    • Rohde & Schwarz

The List of Companies
- ADLINK Technology Inc.
- Anritsu Corporation
- EXFO Inc.
- Rohde & Schwarz

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