Test and Measurement Equipment Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Test and Measurement Equipment Market is segmented By Product Type (General Purpose Test Equipment, Wireless Test Equipment, Network Simulators, Semiconductor Test Equipment, RF Test Chambers), By Services (Calibration Services, Repair Services, Other Services), By Application (Aerospace & Defense, Healthcare & Medical Equipment, Telecommunication, Electronics & Semiconductor, Industrial & Manufacturing, Automotive), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Test and Measurement Equipment Market Report Overview

The Global Test and Measurement Equipment Market report analyzes the market shares, size, recent trends, future market outlook, and competitive intelligence. The demand for test and measurement equipment is increasing due to the growing need for precision measurement in various industries such as automotive, and telecommunications. The market is witnessing a surge in demand from the Asia-Pacific region due to the increasing adoption of automation and digitization in manufacturing processes. The competitive rivalry is intensifying with major players such as Keysight Technologies, National Instruments, Anritsu Corporation, and others actively operating in the market.

Test and Measurement Equipment Market Scope and Summary

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Test and measurement equipment is used to design and manufacture a product or service to meet customer satisfaction with products and services. Test equipment is used for generating the signals and capturing the responses from the various devices in the testing phase for proper operation and fault identification. In contrast, measurement equipment is used for the measurement of specific physical quantities.

Test and Measurement Equipment Market Dynamics

The market growth is driven by the growing demand for test and measurement equipment in various industries such as telecommunications, consumer electronics, semiconductors, electronics, aerospace, information technology, and other industries.

The market growth is influenced by technological advancement in networking, communication & equipment development, upgrading existing machinery, new equipment launches to increase annual productivity, and optimizing operational flow throughout the forecast period. For instance, in March 2020, Anritsu Company launched PCIe (Peripheral Component Interconnect Express) Gen5 (PCIe 5.0) Link Training and Tx/Rx LEQ Test Automation software for its Signal Quality Analyzer-R MP1900A series bit error rate tester that creates the industry’s first measurement solution supporting the PCIe 3.0, 4.0 and 5.0 standards. It is a high-speed server, computer, and communications equipment.

In March 2020, Saelig Company launched the TorqSense ORT 230/240 Low Torque Sensor that provides a precise dynamic measurement of rotary and static torque from 10mNm to 100Nm for signal bandwidths up to 50kHz. The new torque sensors had replaced the old E200 ORT series. They provided all-new electronics with notable performance increases in resolution, frequency response, decreased sensor current consumption, and faster digital data throughput. In March 2020, Rohde & Schwarz launched an automated EMC Test System for both 5G frequency ranges. It measures spurious emissions from 5G components and devices during development and compliance tests and required EMI tests.

The rise in the demand for high-performance and power-efficient electronic devices shall positively impact the market. High adoption of the Internet of Things (IoT) devices, the introduction of 5G technology, and the deployment of 4G networks had provided several opportunities for market growth. However, the high cost of test and measurement equipment may hinder the market growth over the forecasted period.

Test and Measurement Equipment Market Segment

The global test and measurement equipment market is segmented on the product as general-purpose test equipment (GPTE), wireless test equipment, semiconductor test equipment, and RF test chambers. The general purpose test equipment (GPTE) segment accounts for the highest market share due to a rise in the demand for general-purpose test equipment due to its characteristics such as large size, bulky displays, slightly complicated control systems, customer user interfaces, and others. It includes the oscilloscope, signal generator, analyzers, meters, thermal imagers, bit error ratio testers (BERT), and other equipment. The oscilloscope displays an electrical signal waveform: an analyzer records and displays various signals from a digital system or circuit. The signal generator produces electrical signals in a waveform. The wireless test equipment segment accounts for a significant market share of XX% in 2019. The wireless test equipment segment comprises logic analyzers, spectrum analyzers, network analyzers, and network simulators.

Further, the market is also classified based on aerospace & defense, healthcare & medical equipment, telecommunication, electronics & semiconductors, industrial & manufacturing, and automotive. The automotive segment accounts for the highest market share due to increased automobile manufacturing production with advanced automation technologies. There is an increase in automotive manufacturing hubs implementing computer-controlled processes worldwide. It is further expected that this segment would maintain its dominant position over the forecasted period.

The aerospace and defense segment is expected to have positive market growth due to increased aircraft and helicopters. According to the General Aviation Manufacturers Association, there are approximately 416,000 general aircraft flying worldwide. There is a high demand for test and measurement equipment for the regular testing and servicing of aircraft and helicopters.

Test and Measurement Equipment Market Geographical Analysis

By region, the global test and measurement equipment market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. North America accounted for the highest market share among all regions due to increased test and measurement equipment in the automotive, electrical, and electronic sectors. The growing automobile industry shall have a positive impact on the market. According to the American Automotive Policy Council, around 11.3 million cars and trucks were produced in 2018, and this number is expected to increase in the forecasted period.

Asia-Pacific region contributes to the prominent market share as it is the center of the automotive, electrical, and electronics industries. Globally, the Asia Pacific region is one of the largest automobile producers. The automobile industry is witnessing the rising adoption of connected cars and autonomous cars due to the availability and affordability of high-speed internet connectivity, smartphone integration via apps, and several benefits. India is a fast-emerging market for connected vehicle business. The growing healthcare industry is expected to stimulate market growth over the forecasted period. According to India Brand Equity Foundation, the healthcare market was USD 61.79 billion in 2017 and is expected to reach USD 133.44 Billion by 2022 due to its strengthening coverage, services, and increasing expenditure by public and private market players. The rising development of new healthcare equipment, patient-monitoring systems, and personal emergency reporting systems increases the demand for test and measurement equipment over the forecasted period. Developing countries such as China, India, and South Korea are leading consumer electronic devices such as smartphones, laptops, and other consumer electronic devices.

Test and Measurement Equipment Market Competitive Landscape

The global test and measurement equipment market is highly competitive with forwarding and backward integration. Several local and international players are present in the market. Fortive, Keysight Technologies, Rohde & Schwarz, Viavi Solutions, Anritsu, Yokogawa Electric, Texas Instruments, and Teledyne are the leading companies with prominent market shares.

Companies focus on new product launches, technological advancement, product development, market expansion, product diversification, and capacity utilization strategies for placing their products in the market. For instance, in March 2020, element14 launched a new range of affordable industrial and production-grade precision test equipment and tools from its Multicomp Pro brand. In June 2018, Keysight Technologies launched a suite of test and measurement solutions for Hybrid Electric Vehicle (HEV)/Electric Vehicle (EV) and Home Energy Management Systems (HEMS).

The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for test and measurement equipment and their expansion across the globe. For instance, in February 2020, Rohde & Schwarz entered into a collaboration with Decawave to develop T&M capabilities for production-line testing of ultra-wideband (UWB) functions in chipsets and complete devices. Decawave would provide the knowledge of the required test strategy and test methods under the agreement's terms, and Decawave DW3000 as a test device. Rohde & Schwarz would provide the UWB test capabilities to its R&S CMP200 radio communication tester, making it the only test platform on the market able to provide R&D and production RF tests for both 5G FR2 and UWB functions.

In September 2019, National Instruments entered into a collaboration with ETAS to create a new company that would make automotive test products. This joint venture, i.e., ETAS NI Systems GmbH & Co. KG, would help meet the demand for increased efficiency in software development for modern cars with driver assistance systems.

In December 2019, FormFactor, Inc. entered into a collaboration with Virginia Diodes Inc to provide the Industry Proven Test Solution for Millimeter-Wave and Terahertz Devices. This collaboration would enable the customers to take advantage of a proven true-to-measurement solution that unites industry-leading analytical probe systems and banded waveguide probes from FormFactor with best-in-class frequency extenders from Virginia Diodes to deliver maximum measurement performance for mmW/THz test.

Why Purchase the Report?

• Visualize the composition of the global Test and Measurement Equipment market products in terms of product type and Services, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the global Test and Measurement Equipment market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of global Test and Measurement Equipment market-level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

**The global Test and Measurement Equipment report will provide access to approximately 53 market data tables, 44 figures, and 178 pages

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