Test and Measurement Equipment Market

Test and Measurement Equipment Market Size, Share, Growth Analysis, By Product Type(GPTE, MTE), By Service Type(Calibration Services, Repair/After-sales Services), By Vertical(Automotive & Transportation, Aerospace & Defense), By Region(North America, Europe) - Industry Forecast 2024-2031

Report ID: UCMIG45J2174 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Test and Measurement Equipment Market Insights

Market Overview:

The test and measurement equipment market is anticipated to grow by 4.6% CAGR from 2023 to 2028, from USD 34.3 billion to USD 42.9 billion. The rising demand for electronic devices and components is one of the major factors propelling growth in the test and measurement equipment market.Another key driver of this market's expansion is the automotive sector, as testing and measuring tools are required to guarantee the performance and safety of automobiles.

Test and Measurement Equipment Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Electronic Equipment & Instruments by segment aggregation, the contribution of the Electronic Equipment & Instruments in Technology Hardware & Equipment and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

Segmentation Analysis:

The Test and Measurement Equipment Market is segmented by Product Type, Service Type, Vertical, Region. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

Test and Measurement Equipment Market Basis Point Share Analysis, 2021 Vs. 2028
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  • Based on Product Type the market is segmented as, GPTE, MTE
  • Based on Service Type the market is segmented as, Calibration Services, Repair/After-sales Services
  • Based on Vertical the market is segmented as, Automotive & Transportation, Aerospace & Defense, IT & Telecommunication, Education & Government, Industrial, Healthcare, Semiconductor & Electronics
  • Based on Region the market is segmented as, North America, Europe, Asia Pacific, Rest of the World, KEY MARKET PLAYERS, Yokogawa Electric, Keysight Technologies, Rohde & Schwarz, Fortive, Anritsu, Advantest, National Instruments, EXFO, VIAVI Solutions, OWON Technology, Teledyne Technologies, GW Instek, AMETEK, ADLINK Technology, Leader Instruments, RIGOL Technologies, Dynamic Signal, Astronics Test Systems, Vaunix, DS Instruments, Saluki, IKM Instrutek, Uni-Trend Technology, Particle Measuring Systems, Mextech Technologies

Regional Analysis:

Test and Measurement Equipment Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.

Test and Measurement Equipment Market Attractiveness Analysis, By Region 2020-2028
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Test and Measurement Equipment Market : Risk Analysis

SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Test and Measurement Equipment Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Test and Measurement Equipment Market's supply chain, distribution, and total revenue growth.

Competitive landscaping:

To understand the competitive landscape, we are analyzing key Test and Measurement Equipment Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Test and Measurement Equipment Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

  • d measurement equipment market is expected to reach USD 42.9 billion by 2028 from USD 34.3 billion in 2023, at a CAGR of 4.6% during the 2023–2028 period. Various types of test and measurement equipment are utilized to analyze, validate, and verify measurements of electronic and mechanical systems. These instruments generate signals and capture responses from electronic devices under test (DUTs). Their purpose is to assess the efficacy of operational processes and aid manufacturers in monitoring and enhancing the quality, safety, and productivity of their products. The two main categories of such equipment are general-purpose test equipment (GPTE) (including oscilloscopes, signal generators, arbitrary waveform generators, digital multimeters, logic analyzers, power meters, power supplies, and modular instruments) and mechanical test equipment (MTE) (encompassing non-destructive test equipment, machine vision inspection systems, and machine condition monitoring systems). In terms of market growth, the healthcare and IT & telecommunications sectors are projected to make the most significant contributions in the vertical segment. The test and measurement equipment market is divided into products and services, creating a fragmented overall market.
  • Test and Measurement Equipment Market Dynamics
  • Driver: Increased need for interoperability testing owing to growing deployment of IoT and connected devices
  • The rising adoption of connected technologies to increase production and improve manufacturing efficiency and the growing need to assess and test the Internet of Things (IoT)-enabled products to ensure data and product security boost testing, inspection, and certification market growth. Although manufacturers can increase their profit margins by deploying IoT and connected devices, they present many challenges and risks to manufacturers and developers. As data breaches continue to grab headlines, manufacturers are focused on safeguarding connected devices and user data. With rapid technological advances, the industry has responded to cybersecurity concerns by following necessary standards and regulations such as ANSI/UL 2900, IEC 62443, the National Institute of Standards and Technology (NIST) Cybersecurity Framework. Despite the pandemic, the market for connected devices continues to grow. In 2020, for the first time, the market witnessed the increased deployment of connected IoT devices (e.g., connected cars, smart home devices, and connected industrial equipment) than non-IoT devices (smartphones, laptops, and computers). Personal IoT devices, including fitness wearables, have become pervasive in the last two years and are likely to be increasingly adopted by the remaining population in the coming years. Smart devices facilitate data exchange. Testing is instrumental in ensuring that these devices remain connected securely and perform efficiently. In a connected world, global companies need to organize their quality assurance and testing functions using a combination of centralized and decentralized approaches. A testing team is vital for complex integrations and transformations in product development processes.
  • Restraint: Strong inclination of customers toward adoption of test and measurement equipment on rental basis
  • Technological advancements boost the demand for test and measurement equipment in end-user industries. This ratio is increasing because the adoption of test and measurement equipment on rental basis is more profitable to the customers whereas it is a restraint to the producing firms. Mostly companies with less capital go for rented test and measurement equipment. The unavailability of our own equipment, facing challenges towards repair, calibration, and unexpected peak in testing workload are the main reasons for the customers renting the equipment. However, new test and measurement equipment are typically expensive. To reduce their operational costs, several organizations across industries, including aerospace & defense, communications, automotive, and electronics, often take testing and measurement equipment on a rental basis, which is a cost-saving approach rather than buying new testing and measurement equipment.
  • Opportunity: Growing adoption of breakthrough technologies by consumers worldwide
  • Technological advancements are rapidly reshaping various industries, including healthcare, at an unprecedented pace. Notably, significant progress is witnessed in the healthcare sector. The utilization of wearable devices like smartwatches enables the collection of data, enabling the prediction and proactive treatment of health conditions in individuals, even before symptoms manifest. This approach, known as precision medicine, empowers physicians to prescribe medications and administer treatments with greater accuracy and specificity to their patients. This has been possible because of the innovations in the fields of genomics and AI; such technological advances help understand how diverse people’s bodies are healthier or inferior to fight against specific ailments, as well as how they are likely to react to different types of medications or treatments.
  • Similarly, electric vehicles (EVs) are one of the leading technologies worldwide. (EV testing goes way beyond homologation testing for vehicles and their components. It also covers the charging interfaces and associated systems that enable EVs, charging stations, and back-office systems to communicate with one another, known as interoperability or conformance testing. With the increase in the adoption of EVs worldwide, the demand for battery performance and safety testing, electric motor testing, vehicle performance testing, charger testing and certification, etc., is likely to rise significantly.
  • Challenge: Calibration, irregularity, and complexity issues in antenna arrays
  • Currently technological environment antennas play a wide role. The reliability and quality of antenna performance is essential for innovative embedding antennas. The success of production quality and time control relies on fast and accurate antenna measurements.
  • The growing acceptance of multiple-input and multiple-output (MIMO) in 5G New Radio (NR) technology is anticipated to drive the expanded usage of test and measurement equipment for evaluating the performance of radiation patterns in the device under test (DUT). In this context, antenna arrays are employed to achieve high antenna gain through beamforming, which compensates for the free space path loss inherent in high-frequency 5G systems. Beamforming involves the utilization of multiple antenna components in antenna arrays to achieve directional characteristics, aiding in the reduction of energy consumption in electronic devices.
  • Test and measurement equipment Market Ecosystem
  • The prominent players in the test and measurement equipment market are Fortive (US), National Instruments (US), Keysight Technologies (US), Teledyne Technologies (US), and Rohde & Schwarz (Germany). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
  • The GPTE product type is projected to hold the larger market share of the test and measurement equipment market during the forecast period
  • GPTE (general-purpose test equipment) are expected to hold a larger market share during the forecast period primarily due to the growing adoption of the 5G network, which would drive the demand for GPTE. General-purpose test equipment (GPTE) uses devices that help in measuring the electronic parameters of devices such as voltage, frequency, watts, and other diagnostic features. The PG3 Digital Pattern Generator Series is an important general-purpose tool which is used to stimulate designs. It gives flexibility and expandability to its wide range of applications.
  • Most test and measurement equipment offer high bandwidth, more accuracy, and higher resolution than those in the earlier ones. Some prominent verticals in which such equipment are used include IT & telecommunications, healthcare, automotive, and industrial.
  • Healthcare vertical is expected to grow at the highest CAGR in the test and measurement equipment market during the forecast period
  • There is a significant growth potential for test and measurement equipment in the healthcare vertical with the rapid development of new medical devices, patient monitoring systems, and personal emergency reporting systems. Many current and emerging technologies have been incorporated into the healthcare industry for a variety of applications. Medical device and test system failure or performance decline might have serious repercussions which is expected to increase the demand of market in this vertical.
  • Asia Pacific is projected to grow at the highest CAGR of the test and measurement equipment market by 2028
  • The country is becoming a new hub for companies from all over the world which in turn increases the demand for test and measurement equipment in the country. There are many test and measurement manufacturers in India such as MEXTECH, Rishabh Instruments, Meco Instruments, Fluke Corporation, Rohde & Schwarz India Pvt Ltd, Microtek Instrument, Metro Electronic, Anritsu Corporation, Aplab Ltd and Tektronics. The Indian government is all ready to accept Micron Technology's investment request for USD 1 billion to build an ATMP plant in India. The fifth-largest semiconductor manufacturer in the world, Micron Technology is headquartered in Idaho, USA. The company operates 11 production facilities in the US, China, Japan, Taiwan, Malaysia, and Singapore. During the Commercial Dialogue March 2023, India and the US inked an MoU of partnership aims to create a collaboration framework between the two governments on supply chain resiliency and diversity for semiconductors.
  • Recent Developments
  • In January 2023, Keysight Technologies introduced the Electrical Performance Scan (EP-Scan), a new high-speed digital simulation tool that supports rapid signal integrity (SI) analysis for hardware engineers and printed circuit board (PCB) designers.
  • In January 2023, Rohde & Schwarz has unveiled Benchmarker 3, a new solution aimed at driving the evolution of network benchmarking. This advanced benchmarking solution empowers mobile network operators (MNOs) to effectively address the growing challenges posed by technological advancements, cost constraints, time limitations, and competitive pressures in the industry.
  • In November 2022, AVL and Rohde & Schwarz have joined forces to streamline and expedite electromagnetic compatibility (EMC) tests conducted in realistic driving scenarios. In order to simplify and accelerate the development process, AVL and Rohde & Schwarz have introduced an innovative solution for automated EMC data analysis, specifically designed for electric drivetrains being tested under real-world driving conditions.
  • In October 2021, National Instruments announced the acquisition of NH Research, LLC, a company in high power test and measurement applications such as electric vehicles (EV) and batteries.
  • In August 2021, Keysight Technologies has introduced the latest addition to its lineup, the Keysight Nemo 5G RAN Analytics software. This advanced software solution operates in the cloud and offers full automation, enhancing the efficiency of data processing, reporting, and analytics. It enables swift analysis of a mobile operator's 5G radio access network (RAN) performance, facilitating rapid decision-making and optimization.
  • KEY MARKET SEGMENTS
  • By Product Type
  • GPTE
  • MTE
  • By Service Type
  • Calibration Services
  • Repair/After-sales Services
  • By Vertical
  • Automotive & Transportation
  • Aerospace & Defense
  • IT & Telecommunication
  • Education & Government
  • Industrial
  • Healthcare
  • Semiconductor & Electronics
  • By Region
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World
  • KEY MARKET PLAYERS
  • Yokogawa Electric
  • Keysight Technologies
  • Rohde & Schwarz
  • Fortive
  • Anritsu
  • Advantest
  • National Instruments
  • EXFO
  • VIAVI Solutions
  • OWON Technology
  • Teledyne Technologies
  • GW Instek
  • AMETEK
  • ADLINK Technology
  • Leader Instruments
  • RIGOL Technologies
  • Dynamic Signal
  • Astronics Test Systems
  • Vaunix
  • DS Instruments
  • Saluki
  • IKM Instrutek
  • Uni-Trend Technology
  • Particle Measuring Systems
  • Mextech Technologies

SkyQuest's Expertise:

The Test and Measurement Equipment Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.

Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.

Scope Of Report

Report Attribute Details
The base year for estimation 2021
Historical data 2016 – 2022
Forecast period 2022 – 2028
Report coverage Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered
  • By Product Type - GPTE, MTE
  • By Service Type - Calibration Services, Repair/After-sales Services
  • By Vertical - Automotive & Transportation, Aerospace & Defense, IT & Telecommunication, Education & Government, Industrial, Healthcare, Semiconductor & Electronics
  • By Region - North America, Europe, Asia Pacific, Rest of the World, KEY MARKET PLAYERS, Yokogawa Electric, Keysight Technologies, Rohde & Schwarz, Fortive, Anritsu, Advantest, National Instruments, EXFO, VIAVI Solutions, OWON Technology, Teledyne Technologies, GW Instek, AMETEK, ADLINK Technology, Leader Instruments, RIGOL Technologies, Dynamic Signal, Astronics Test Systems, Vaunix, DS Instruments, Saluki, IKM Instrutek, Uni-Trend Technology, Particle Measuring Systems, Mextech Technologies
Regional scope North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
Country scope U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa
Key companies profiled
  • d measurement equipment market is expected to reach USD 42.9 billion by 2028 from USD 34.3 billion in 2023, at a CAGR of 4.6% during the 2023–2028 period. Various types of test and measurement equipment are utilized to analyze, validate, and verify measurements of electronic and mechanical systems. These instruments generate signals and capture responses from electronic devices under test (DUTs). Their purpose is to assess the efficacy of operational processes and aid manufacturers in monitoring and enhancing the quality, safety, and productivity of their products. The two main categories of such equipment are general-purpose test equipment (GPTE) (including oscilloscopes, signal generators, arbitrary waveform generators, digital multimeters, logic analyzers, power meters, power supplies, and modular instruments) and mechanical test equipment (MTE) (encompassing non-destructive test equipment, machine vision inspection systems, and machine condition monitoring systems). In terms of market growth, the healthcare and IT & telecommunications sectors are projected to make the most significant contributions in the vertical segment. The test and measurement equipment market is divided into products and services, creating a fragmented overall market.
  • Test and Measurement Equipment Market Dynamics
  • Driver: Increased need for interoperability testing owing to growing deployment of IoT and connected devices
  • The rising adoption of connected technologies to increase production and improve manufacturing efficiency and the growing need to assess and test the Internet of Things (IoT)-enabled products to ensure data and product security boost testing, inspection, and certification market growth. Although manufacturers can increase their profit margins by deploying IoT and connected devices, they present many challenges and risks to manufacturers and developers. As data breaches continue to grab headlines, manufacturers are focused on safeguarding connected devices and user data. With rapid technological advances, the industry has responded to cybersecurity concerns by following necessary standards and regulations such as ANSI/UL 2900, IEC 62443, the National Institute of Standards and Technology (NIST) Cybersecurity Framework. Despite the pandemic, the market for connected devices continues to grow. In 2020, for the first time, the market witnessed the increased deployment of connected IoT devices (e.g., connected cars, smart home devices, and connected industrial equipment) than non-IoT devices (smartphones, laptops, and computers). Personal IoT devices, including fitness wearables, have become pervasive in the last two years and are likely to be increasingly adopted by the remaining population in the coming years. Smart devices facilitate data exchange. Testing is instrumental in ensuring that these devices remain connected securely and perform efficiently. In a connected world, global companies need to organize their quality assurance and testing functions using a combination of centralized and decentralized approaches. A testing team is vital for complex integrations and transformations in product development processes.
  • Restraint: Strong inclination of customers toward adoption of test and measurement equipment on rental basis
  • Technological advancements boost the demand for test and measurement equipment in end-user industries. This ratio is increasing because the adoption of test and measurement equipment on rental basis is more profitable to the customers whereas it is a restraint to the producing firms. Mostly companies with less capital go for rented test and measurement equipment. The unavailability of our own equipment, facing challenges towards repair, calibration, and unexpected peak in testing workload are the main reasons for the customers renting the equipment. However, new test and measurement equipment are typically expensive. To reduce their operational costs, several organizations across industries, including aerospace & defense, communications, automotive, and electronics, often take testing and measurement equipment on a rental basis, which is a cost-saving approach rather than buying new testing and measurement equipment.
  • Opportunity: Growing adoption of breakthrough technologies by consumers worldwide
  • Technological advancements are rapidly reshaping various industries, including healthcare, at an unprecedented pace. Notably, significant progress is witnessed in the healthcare sector. The utilization of wearable devices like smartwatches enables the collection of data, enabling the prediction and proactive treatment of health conditions in individuals, even before symptoms manifest. This approach, known as precision medicine, empowers physicians to prescribe medications and administer treatments with greater accuracy and specificity to their patients. This has been possible because of the innovations in the fields of genomics and AI; such technological advances help understand how diverse people’s bodies are healthier or inferior to fight against specific ailments, as well as how they are likely to react to different types of medications or treatments.
  • Similarly, electric vehicles (EVs) are one of the leading technologies worldwide. (EV testing goes way beyond homologation testing for vehicles and their components. It also covers the charging interfaces and associated systems that enable EVs, charging stations, and back-office systems to communicate with one another, known as interoperability or conformance testing. With the increase in the adoption of EVs worldwide, the demand for battery performance and safety testing, electric motor testing, vehicle performance testing, charger testing and certification, etc., is likely to rise significantly.
  • Challenge: Calibration, irregularity, and complexity issues in antenna arrays
  • Currently technological environment antennas play a wide role. The reliability and quality of antenna performance is essential for innovative embedding antennas. The success of production quality and time control relies on fast and accurate antenna measurements.
  • The growing acceptance of multiple-input and multiple-output (MIMO) in 5G New Radio (NR) technology is anticipated to drive the expanded usage of test and measurement equipment for evaluating the performance of radiation patterns in the device under test (DUT). In this context, antenna arrays are employed to achieve high antenna gain through beamforming, which compensates for the free space path loss inherent in high-frequency 5G systems. Beamforming involves the utilization of multiple antenna components in antenna arrays to achieve directional characteristics, aiding in the reduction of energy consumption in electronic devices.
  • Test and measurement equipment Market Ecosystem
  • The prominent players in the test and measurement equipment market are Fortive (US), National Instruments (US), Keysight Technologies (US), Teledyne Technologies (US), and Rohde & Schwarz (Germany). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
  • The GPTE product type is projected to hold the larger market share of the test and measurement equipment market during the forecast period
  • GPTE (general-purpose test equipment) are expected to hold a larger market share during the forecast period primarily due to the growing adoption of the 5G network, which would drive the demand for GPTE. General-purpose test equipment (GPTE) uses devices that help in measuring the electronic parameters of devices such as voltage, frequency, watts, and other diagnostic features. The PG3 Digital Pattern Generator Series is an important general-purpose tool which is used to stimulate designs. It gives flexibility and expandability to its wide range of applications.
  • Most test and measurement equipment offer high bandwidth, more accuracy, and higher resolution than those in the earlier ones. Some prominent verticals in which such equipment are used include IT & telecommunications, healthcare, automotive, and industrial.
  • Healthcare vertical is expected to grow at the highest CAGR in the test and measurement equipment market during the forecast period
  • There is a significant growth potential for test and measurement equipment in the healthcare vertical with the rapid development of new medical devices, patient monitoring systems, and personal emergency reporting systems. Many current and emerging technologies have been incorporated into the healthcare industry for a variety of applications. Medical device and test system failure or performance decline might have serious repercussions which is expected to increase the demand of market in this vertical.
  • Asia Pacific is projected to grow at the highest CAGR of the test and measurement equipment market by 2028
  • The country is becoming a new hub for companies from all over the world which in turn increases the demand for test and measurement equipment in the country. There are many test and measurement manufacturers in India such as MEXTECH, Rishabh Instruments, Meco Instruments, Fluke Corporation, Rohde & Schwarz India Pvt Ltd, Microtek Instrument, Metro Electronic, Anritsu Corporation, Aplab Ltd and Tektronics. The Indian government is all ready to accept Micron Technology's investment request for USD 1 billion to build an ATMP plant in India. The fifth-largest semiconductor manufacturer in the world, Micron Technology is headquartered in Idaho, USA. The company operates 11 production facilities in the US, China, Japan, Taiwan, Malaysia, and Singapore. During the Commercial Dialogue March 2023, India and the US inked an MoU of partnership aims to create a collaboration framework between the two governments on supply chain resiliency and diversity for semiconductors.
  • Recent Developments
  • In January 2023, Keysight Technologies introduced the Electrical Performance Scan (EP-Scan), a new high-speed digital simulation tool that supports rapid signal integrity (SI) analysis for hardware engineers and printed circuit board (PCB) designers.
  • In January 2023, Rohde & Schwarz has unveiled Benchmarker 3, a new solution aimed at driving the evolution of network benchmarking. This advanced benchmarking solution empowers mobile network operators (MNOs) to effectively address the growing challenges posed by technological advancements, cost constraints, time limitations, and competitive pressures in the industry.
  • In November 2022, AVL and Rohde & Schwarz have joined forces to streamline and expedite electromagnetic compatibility (EMC) tests conducted in realistic driving scenarios. In order to simplify and accelerate the development process, AVL and Rohde & Schwarz have introduced an innovative solution for automated EMC data analysis, specifically designed for electric drivetrains being tested under real-world driving conditions.
  • In October 2021, National Instruments announced the acquisition of NH Research, LLC, a company in high power test and measurement applications such as electric vehicles (EV) and batteries.
  • In August 2021, Keysight Technologies has introduced the latest addition to its lineup, the Keysight Nemo 5G RAN Analytics software. This advanced software solution operates in the cloud and offers full automation, enhancing the efficiency of data processing, reporting, and analytics. It enables swift analysis of a mobile operator's 5G radio access network (RAN) performance, facilitating rapid decision-making and optimization.
  • KEY MARKET SEGMENTS
  • By Product Type
  • GPTE
  • MTE
  • By Service Type
  • Calibration Services
  • Repair/After-sales Services
  • By Vertical
  • Automotive & Transportation
  • Aerospace & Defense
  • IT & Telecommunication
  • Education & Government
  • Industrial
  • Healthcare
  • Semiconductor & Electronics
  • By Region
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World
  • KEY MARKET PLAYERS
  • Yokogawa Electric
  • Keysight Technologies
  • Rohde & Schwarz
  • Fortive
  • Anritsu
  • Advantest
  • National Instruments
  • EXFO
  • VIAVI Solutions
  • OWON Technology
  • Teledyne Technologies
  • GW Instek
  • AMETEK
  • ADLINK Technology
  • Leader Instruments
  • RIGOL Technologies
  • Dynamic Signal
  • Astronics Test Systems
  • Vaunix
  • DS Instruments
  • Saluki
  • IKM Instrutek
  • Uni-Trend Technology
  • Particle Measuring Systems
  • Mextech Technologies
Customization scope Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options Reap the benefits of customized purchase options to fit your specific research requirements.

Objectives of the Study

  • To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
  • To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
  • To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
  • To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
  • To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market

What does this Report Deliver?

  • Market Estimation for 20+ Countries
  • Historical data coverage: 2016 to 2022
  • Growth projections: 2022 to 2028
  • SkyQuest's premium market insights: Innovation matrix, IP analysis, Production Analysis, Value chain analysis, Technological trends, and Trade analysis
  • Customization on Segments, Regions, and Company Profiles
  • 100+ tables, 150+ Figures, 10+ matrix
  • Global and Country Market Trends
  • Comprehensive Mapping of Industry Parameters
  • Attractive Investment Proposition
  • Competitive Strategies Adopted by Leading Market Participants
  • Market drivers, restraints, opportunities, and its impact on the market
  • Regulatory scenario, regional dynamics, and insights of leading countries in each region
  • Segment trends analysis, opportunity, and growth
  • Opportunity analysis by region and country
  • Porter's five force analysis to know the market's condition
  • Pricing analysis
  • Parent market analysis
  • Product portfolio benchmarking

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Test and Measurement Equipment Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Test and Measurement Equipment Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)
  • d measurement equipment market is expected to reach USD 42.9 billion by 2028 from USD 34.3 billion in 2023, at a CAGR of 4.6% during the 2023–2028 period. Various types of test and measurement equipment are utilized to analyze, validate, and verify measurements of electronic and mechanical systems. These instruments generate signals and capture responses from electronic devices under test (DUTs). Their purpose is to assess the efficacy of operational processes and aid manufacturers in monitoring and enhancing the quality, safety, and productivity of their products. The two main categories of such equipment are general-purpose test equipment (GPTE) (including oscilloscopes, signal generators, arbitrary waveform generators, digital multimeters, logic analyzers, power meters, power supplies, and modular instruments) and mechanical test equipment (MTE) (encompassing non-destructive test equipment, machine vision inspection systems, and machine condition monitoring systems). In terms of market growth, the healthcare and IT & telecommunications sectors are projected to make the most significant contributions in the vertical segment. The test and measurement equipment market is divided into products and services, creating a fragmented overall market.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Test and Measurement Equipment Market Dynamics
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Driver: Increased need for interoperability testing owing to growing deployment of IoT and connected devices
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The rising adoption of connected technologies to increase production and improve manufacturing efficiency and the growing need to assess and test the Internet of Things (IoT)-enabled products to ensure data and product security boost testing, inspection, and certification market growth. Although manufacturers can increase their profit margins by deploying IoT and connected devices, they present many challenges and risks to manufacturers and developers. As data breaches continue to grab headlines, manufacturers are focused on safeguarding connected devices and user data. With rapid technological advances, the industry has responded to cybersecurity concerns by following necessary standards and regulations such as ANSI/UL 2900, IEC 62443, the National Institute of Standards and Technology (NIST) Cybersecurity Framework. Despite the pandemic, the market for connected devices continues to grow. In 2020, for the first time, the market witnessed the increased deployment of connected IoT devices (e.g., connected cars, smart home devices, and connected industrial equipment) than non-IoT devices (smartphones, laptops, and computers). Personal IoT devices, including fitness wearables, have become pervasive in the last two years and are likely to be increasingly adopted by the remaining population in the coming years. Smart devices facilitate data exchange. Testing is instrumental in ensuring that these devices remain connected securely and perform efficiently. In a connected world, global companies need to organize their quality assurance and testing functions using a combination of centralized and decentralized approaches. A testing team is vital for complex integrations and transformations in product development processes.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Restraint: Strong inclination of customers toward adoption of test and measurement equipment on rental basis
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Technological advancements boost the demand for test and measurement equipment in end-user industries. This ratio is increasing because the adoption of test and measurement equipment on rental basis is more profitable to the customers whereas it is a restraint to the producing firms. Mostly companies with less capital go for rented test and measurement equipment. The unavailability of our own equipment, facing challenges towards repair, calibration, and unexpected peak in testing workload are the main reasons for the customers renting the equipment. However, new test and measurement equipment are typically expensive. To reduce their operational costs, several organizations across industries, including aerospace & defense, communications, automotive, and electronics, often take testing and measurement equipment on a rental basis, which is a cost-saving approach rather than buying new testing and measurement equipment.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Opportunity: Growing adoption of breakthrough technologies by consumers worldwide
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Technological advancements are rapidly reshaping various industries, including healthcare, at an unprecedented pace. Notably, significant progress is witnessed in the healthcare sector. The utilization of wearable devices like smartwatches enables the collection of data, enabling the prediction and proactive treatment of health conditions in individuals, even before symptoms manifest. This approach, known as precision medicine, empowers physicians to prescribe medications and administer treatments with greater accuracy and specificity to their patients. This has been possible because of the innovations in the fields of genomics and AI; such technological advances help understand how diverse people’s bodies are healthier or inferior to fight against specific ailments, as well as how they are likely to react to different types of medications or treatments.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Similarly, electric vehicles (EVs) are one of the leading technologies worldwide. (EV testing goes way beyond homologation testing for vehicles and their components. It also covers the charging interfaces and associated systems that enable EVs, charging stations, and back-office systems to communicate with one another, known as interoperability or conformance testing. With the increase in the adoption of EVs worldwide, the demand for battery performance and safety testing, electric motor testing, vehicle performance testing, charger testing and certification, etc., is likely to rise significantly.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Challenge: Calibration, irregularity, and complexity issues in antenna arrays
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Currently technological environment antennas play a wide role. The reliability and quality of antenna performance is essential for innovative embedding antennas. The success of production quality and time control relies on fast and accurate antenna measurements.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The growing acceptance of multiple-input and multiple-output (MIMO) in 5G New Radio (NR) technology is anticipated to drive the expanded usage of test and measurement equipment for evaluating the performance of radiation patterns in the device under test (DUT). In this context, antenna arrays are employed to achieve high antenna gain through beamforming, which compensates for the free space path loss inherent in high-frequency 5G systems. Beamforming involves the utilization of multiple antenna components in antenna arrays to achieve directional characteristics, aiding in the reduction of energy consumption in electronic devices.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Test and measurement equipment Market Ecosystem
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The prominent players in the test and measurement equipment market are Fortive (US), National Instruments (US), Keysight Technologies (US), Teledyne Technologies (US), and Rohde & Schwarz (Germany). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The GPTE product type is projected to hold the larger market share of the test and measurement equipment market during the forecast period
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • GPTE (general-purpose test equipment) are expected to hold a larger market share during the forecast period primarily due to the growing adoption of the 5G network, which would drive the demand for GPTE. General-purpose test equipment (GPTE) uses devices that help in measuring the electronic parameters of devices such as voltage, frequency, watts, and other diagnostic features. The PG3 Digital Pattern Generator Series is an important general-purpose tool which is used to stimulate designs. It gives flexibility and expandability to its wide range of applications.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Most test and measurement equipment offer high bandwidth, more accuracy, and higher resolution than those in the earlier ones. Some prominent verticals in which such equipment are used include IT & telecommunications, healthcare, automotive, and industrial.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Healthcare vertical is expected to grow at the highest CAGR in the test and measurement equipment market during the forecast period
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • There is a significant growth potential for test and measurement equipment in the healthcare vertical with the rapid development of new medical devices, patient monitoring systems, and personal emergency reporting systems. Many current and emerging technologies have been incorporated into the healthcare industry for a variety of applications. Medical device and test system failure or performance decline might have serious repercussions which is expected to increase the demand of market in this vertical.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Asia Pacific is projected to grow at the highest CAGR of the test and measurement equipment market by 2028
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The country is becoming a new hub for companies from all over the world which in turn increases the demand for test and measurement equipment in the country. There are many test and measurement manufacturers in India such as MEXTECH, Rishabh Instruments, Meco Instruments, Fluke Corporation, Rohde & Schwarz India Pvt Ltd, Microtek Instrument, Metro Electronic, Anritsu Corporation, Aplab Ltd and Tektronics. The Indian government is all ready to accept Micron Technology's investment request for USD 1 billion to build an ATMP plant in India. The fifth-largest semiconductor manufacturer in the world, Micron Technology is headquartered in Idaho, USA. The company operates 11 production facilities in the US, China, Japan, Taiwan, Malaysia, and Singapore. During the Commercial Dialogue March 2023, India and the US inked an MoU of partnership aims to create a collaboration framework between the two governments on supply chain resiliency and diversity for semiconductors.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Recent Developments
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In January 2023, Keysight Technologies introduced the Electrical Performance Scan (EP-Scan), a new high-speed digital simulation tool that supports rapid signal integrity (SI) analysis for hardware engineers and printed circuit board (PCB) designers.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In January 2023, Rohde & Schwarz has unveiled Benchmarker 3, a new solution aimed at driving the evolution of network benchmarking. This advanced benchmarking solution empowers mobile network operators (MNOs) to effectively address the growing challenges posed by technological advancements, cost constraints, time limitations, and competitive pressures in the industry.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In November 2022, AVL and Rohde & Schwarz have joined forces to streamline and expedite electromagnetic compatibility (EMC) tests conducted in realistic driving scenarios. In order to simplify and accelerate the development process, AVL and Rohde & Schwarz have introduced an innovative solution for automated EMC data analysis, specifically designed for electric drivetrains being tested under real-world driving conditions.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In October 2021, National Instruments announced the acquisition of NH Research, LLC, a company in high power test and measurement applications such as electric vehicles (EV) and batteries.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In August 2021, Keysight Technologies has introduced the latest addition to its lineup, the Keysight Nemo 5G RAN Analytics software. This advanced software solution operates in the cloud and offers full automation, enhancing the efficiency of data processing, reporting, and analytics. It enables swift analysis of a mobile operator's 5G radio access network (RAN) performance, facilitating rapid decision-making and optimization.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • KEY MARKET SEGMENTS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Product Type
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • GPTE
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • MTE
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Service Type
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Calibration Services
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Repair/After-sales Services
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Vertical
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Automotive & Transportation
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Aerospace & Defense
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • IT & Telecommunication
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Education & Government
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Industrial
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Healthcare
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Semiconductor & Electronics
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Region
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • North America
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Europe
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Asia Pacific
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rest of the World
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • KEY MARKET PLAYERS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Yokogawa Electric
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Keysight Technologies
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rohde & Schwarz
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Fortive
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Anritsu
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Advantest
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • National Instruments
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • EXFO
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • VIAVI Solutions
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • OWON Technology
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Teledyne Technologies
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • GW Instek
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • AMETEK
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • ADLINK Technology
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Leader Instruments
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • RIGOL Technologies
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Dynamic Signal
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Astronics Test Systems
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Vaunix
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • DS Instruments
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Saluki
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • IKM Instrutek
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Uni-Trend Technology
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Particle Measuring Systems
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Mextech Technologies
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments

Methodology

For the Test and Measurement Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Test and Measurement Equipment Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Test and Measurement Equipment Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Test and Measurement Equipment Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

The market for Test and Measurement Equipment was estimated to be valued at US$ XX Mn in 2021.

The Test and Measurement Equipment Market is estimated to grow at a CAGR of XX% by 2028.

The Test and Measurement Equipment Market is segmented on the basis of Product Type, Service Type, Vertical, Region.

Based on region, the Test and Measurement Equipment Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Test and Measurement Equipment Market are d measurement equipment market is expected to reach USD 42.9 billion by 2028 from USD 34.3 billion in 2023, at a CAGR of 4.6% during the 2023–2028 period. Various types of test and measurement equipment are utilized to analyze, validate, and verify measurements of electronic and mechanical systems. These instruments generate signals and capture responses from electronic devices under test (DUTs). Their purpose is to assess the efficacy of operational processes and aid manufacturers in monitoring and enhancing the quality, safety, and productivity of their products. The two main categories of such equipment are general-purpose test equipment (GPTE) (including oscilloscopes, signal generators, arbitrary waveform generators, digital multimeters, logic analyzers, power meters, power supplies, and modular instruments) and mechanical test equipment (MTE) (encompassing non-destructive test equipment, machine vision inspection systems, and machine condition monitoring systems). In terms of market growth, the healthcare and IT & telecommunications sectors are projected to make the most significant contributions in the vertical segment. The test and measurement equipment market is divided into products and services, creating a fragmented overall market. , Test and Measurement Equipment Market Dynamics , Driver: Increased need for interoperability testing owing to growing deployment of IoT and connected devices , The rising adoption of connected technologies to increase production and improve manufacturing efficiency and the growing need to assess and test the Internet of Things (IoT)-enabled products to ensure data and product security boost testing, inspection, and certification market growth. Although manufacturers can increase their profit margins by deploying IoT and connected devices, they present many challenges and risks to manufacturers and developers. As data breaches continue to grab headlines, manufacturers are focused on safeguarding connected devices and user data. With rapid technological advances, the industry has responded to cybersecurity concerns by following necessary standards and regulations such as ANSI/UL 2900, IEC 62443, the National Institute of Standards and Technology (NIST) Cybersecurity Framework. Despite the pandemic, the market for connected devices continues to grow. In 2020, for the first time, the market witnessed the increased deployment of connected IoT devices (e.g., connected cars, smart home devices, and connected industrial equipment) than non-IoT devices (smartphones, laptops, and computers). Personal IoT devices, including fitness wearables, have become pervasive in the last two years and are likely to be increasingly adopted by the remaining population in the coming years. Smart devices facilitate data exchange. Testing is instrumental in ensuring that these devices remain connected securely and perform efficiently. In a connected world, companies need to organize their quality assurance and testing functions using a combination of centralized and decentralized approaches. A testing team is vital for complex integrations and transformations in product development processes. , Restraint: Strong inclination of customers toward adoption of test and measurement equipment on rental basis , Technological advancements boost the demand for test and measurement equipment in end-user industries. This ratio is increasing because the adoption of test and measurement equipment on rental basis is more profitable to the customers whereas it is a restraint to the producing firms. Mostly companies with less capital go for rented test and measurement equipment. The unavailability of our own equipment, facing challenges towards repair, calibration, and unexpected peak in testing workload are the main reasons for the customers renting the equipment. However, new test and measurement equipment are typically expensive. To reduce their operational costs, several organizations across industries, including aerospace & defense, communications, automotive, and electronics, often take testing and measurement equipment on a rental basis, which is a cost-saving approach rather than buying new testing and measurement equipment. , Opportunity: Growing adoption of breakthrough technologies by consumers worldwide , Technological advancements are rapidly reshaping various industries, including healthcare, at an unprecedented pace. Notably, significant progress is witnessed in the healthcare sector. The utilization of wearable devices like smartwatches enables the collection of data, enabling the prediction and proactive treatment of health conditions in individuals, even before symptoms manifest. This approach, known as precision medicine, empowers physicians to prescribe medications and administer treatments with greater accuracy and specificity to their patients. This has been possible because of the innovations in the fields of genomics and AI; such technological advances help understand how diverse people’s bodies are healthier or inferior to fight against specific ailments, as well as how they are likely to react to different types of medications or treatments. , Similarly, electric vehicles (EVs) are one of the leading technologies worldwide. (EV testing goes way beyond homologation testing for vehicles and their components. It also covers the charging interfaces and associated systems that enable EVs, charging stations, and back-office systems to communicate with one another, known as interoperability or conformance testing. With the increase in the adoption of EVs worldwide, the demand for battery performance and safety testing, electric motor testing, vehicle performance testing, charger testing and certification, etc., is likely to rise significantly. , Challenge: Calibration, irregularity, and complexity issues in antenna arrays , Currently technological environment antennas play a wide role. The reliability and quality of antenna performance is essential for innovative embedding antennas. The success of production quality and time control relies on fast and accurate antenna measurements. , The growing acceptance of multiple-input and multiple-output (MIMO) in 5G New Radio (NR) technology is anticipated to drive the expanded usage of test and measurement equipment for evaluating the performance of radiation patterns in the device under test (DUT). In this context, antenna arrays are employed to achieve high antenna gain through beamforming, which compensates for the free space path loss inherent in high-frequency 5G systems. Beamforming involves the utilization of multiple antenna components in antenna arrays to achieve directional characteristics, aiding in the reduction of energy consumption in electronic devices. , Test and measurement equipment Market Ecosystem , The prominent players in the test and measurement equipment market are Fortive (US), National Instruments (US), Keysight Technologies (US), Teledyne Technologies (US), and Rohde & Schwarz (Germany). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint. , The GPTE product type is projected to hold the larger market share of the test and measurement equipment market during the forecast period , GPTE (general-purpose test equipment) are expected to hold a larger market share during the forecast period primarily due to the growing adoption of the 5G network, which would drive the demand for GPTE. General-purpose test equipment (GPTE) uses devices that help in measuring the electronic parameters of devices such as voltage, frequency, watts, and other diagnostic features. The PG3 Digital Pattern Generator Series is an important general-purpose tool which is used to stimulate designs. It gives flexibility and expandability to its wide range of applications. , Most test and measurement equipment offer high bandwidth, more accuracy, and higher resolution than those in the earlier ones. Some prominent verticals in which such equipment are used include IT & telecommunications, healthcare, automotive, and industrial. , Healthcare vertical is expected to grow at the highest CAGR in the test and measurement equipment market during the forecast period , There is a significant growth potential for test and measurement equipment in the healthcare vertical with the rapid development of new medical devices, patient monitoring systems, and personal emergency reporting systems. Many current and emerging technologies have been incorporated into the healthcare industry for a variety of applications. Medical device and test system failure or performance decline might have serious repercussions which is expected to increase the demand of market in this vertical. , Asia Pacific is projected to grow at the highest CAGR of the test and measurement equipment market by 2028 , The country is becoming a new hub for companies from all over the world which in turn increases the demand for test and measurement equipment in the country. There are many test and measurement manufacturers in India such as MEXTECH, Rishabh Instruments, Meco Instruments, Fluke Corporation, Rohde & Schwarz India Pvt Ltd, Microtek Instrument, Metro Electronic, Anritsu Corporation, Aplab Ltd and Tektronics. The Indian government is all ready to accept Micron Technology's investment request for USD 1 billion to build an ATMP plant in India. The fifth-largest semiconductor manufacturer in the world, Micron Technology is headquartered in Idaho, USA. The company operates 11 production facilities in the US, China, Japan, Taiwan, Malaysia, and Singapore. During the Commercial Dialogue March 2023, India and the US inked an MoU of partnership aims to create a collaboration framework between the two governments on supply chain resiliency and diversity for semiconductors. , Recent Developments , In January 2023, Keysight Technologies introduced the Electrical Performance Scan (EP-Scan), a new high-speed digital simulation tool that supports rapid signal integrity (SI) analysis for hardware engineers and printed circuit board (PCB) designers. , In January 2023, Rohde & Schwarz has unveiled Benchmarker 3, a new solution aimed at driving the evolution of network benchmarking. This advanced benchmarking solution empowers mobile network operators (MNOs) to effectively address the growing challenges posed by technological advancements, cost constraints, time limitations, and competitive pressures in the industry. , In November 2022, AVL and Rohde & Schwarz have joined forces to streamline and expedite electromagnetic compatibility (EMC) tests conducted in realistic driving scenarios. In order to simplify and accelerate the development process, AVL and Rohde & Schwarz have introduced an innovative solution for automated EMC data analysis, specifically designed for electric drivetrains being tested under real-world driving conditions. , In October 2021, National Instruments announced the acquisition of NH Research, LLC, a company in high power test and measurement applications such as electric vehicles (EV) and batteries. , In August 2021, Keysight Technologies has introduced the latest addition to its lineup, the Keysight Nemo 5G RAN Analytics software. This advanced software solution operates in the cloud and offers full automation, enhancing the efficiency of data processing, reporting, and analytics. It enables swift analysis of a mobile operator's 5G radio access network (RAN) performance, facilitating rapid decision-making and optimization. , KEY MARKET SEGMENTS , By Product Type , GPTE , MTE , By Service Type , Calibration Services , Repair/After-sales Services , By Vertical , Automotive & Transportation , Aerospace & Defense , IT & Telecommunication , Education & Government , Industrial , Healthcare , Semiconductor & Electronics , By Region , North America , Europe , Asia Pacific , Rest of the World , KEY MARKET PLAYERS , Yokogawa Electric , Keysight Technologies , Rohde & Schwarz , Fortive , Anritsu , Advantest , National Instruments , EXFO , VIAVI Solutions , OWON Technology , Teledyne Technologies , GW Instek , AMETEK , ADLINK Technology , Leader Instruments , RIGOL Technologies , Dynamic Signal , Astronics Test Systems , Vaunix , DS Instruments , Saluki , IKM Instrutek , Uni-Trend Technology , Particle Measuring Systems , Mextech Technologies.

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