Market Research Future published a research report on “Test and Measurement Equipment Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Test and measurement equipment is essential to detect faults and ensure proper functioning of any electronic devices. As per the report that has been published by Market Research Future (MRFR), the global test and measurement equipment market is anticipated to expand steadily at a CAGR of 4% during the forecast period of 2017-2023.
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Increasing utilization of test and measurement equipment in defense sector for various applications such as precision strike application, cyber and intelligence gathering, defense electronics and others are majorly driving the growth f the global test and measurement equipment market. Widespread application of test and measurement equipment in consumer electronics for checking the performance of command execution, surveillance application, communication network, and computer intelligence are propelling the growth of the global test and measurement equipment market. Increasing number of smart phone users, increasing IP traffic and evolution of IoT are impacting positively on the expansion of the global test and measurement market during the forecast period.
Some of the prominent players in the global Test and Measurement Equipment Market are Fortive (U.S.), Rohde & Schwarz (Germany), Anritsu Corporation (Japan), Keysight Technologies (U.S.), Yokogawa Electric Corporation (Japan), National Instruments Corporation (U.S.), EXFO (Canada), Advantest Corporation (Japan), Viavi Solutions (U.S.), Cobham plc. (U.K), Teledyne Technologies, Inc. (U.S.), and Texas Instruments Inc., (U.S.) among others.
The global test and measurement equipment market has been segmented on the basis of product, service, and application. Based on the product, the test and measurement equipment market has been segmented into mechanical test equipment and general purposes test equipment. The mechanical test equipment segment is sub-segmented into machine vision inspection, machine condition monitoring, and non-destructive test equipment. The general-purpose test equipment segment is sub-segmented into oscilloscopes, signal generator, digital multimeter, logic analyzer, spectrum analyzer, network analyzer, power meter, electronic counter, modular instrumentation, and automatic test equipment.
Based on the service, the test and measurement equipment market has been segmented into after-sales services, calibration services, and others. The other services segment includes asset management, climatic product testing, training & consulting, and shock testing. Based on application, the test and measurement equipment market has been segmented into automotive, aerospace and defense, electronics and semiconductors, industrial, education, IT and telecommunication and healthcare.
Geographically, the global test and measurement equipment market is segmented into four major regions such as Asia Pacific, North America, Europe and the rest of the world. The Asia Pacific region is anticipated to account for the largest share in the global test and measurement equipment market owing to the high demand and increasing utilization of test and measurement equipment across various industrial sectors. The North America region is anticipated to project fastest growth in the global test and measurement equipment market owing to the rapid advancement in technology and easy adoption of technologically advanced solutions in various industries of this region. Increased research and development activities to introduce advanced solutions to carry out tests and measurement of various electronic devices are fueling the growth of the test and measurement equipment market in the Europe region.
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