Test and Measurement Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Test and Measurement Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : May, 2021 | Semiconductor & Electronics

Report Digest

Test and Measurement Equipment Market- Introduction

Test and measurement equipment are used to measure and test various components and materials. Test and measurement equipment is used across various fields including research labs, electronics, manufacturing, material analysis, and particle analysis. To test mechanical properties of manufactured products, there are various testing equipment for characteristics such as friction, impact, softness, hardness, fatigue, compression, torsion, etc.

The types of test and measurement equipment selected depend on the type of material being used and defining the properties of these materials to be measured. Today, various types of instruments and sensors are being used to test, measure, control, analyze, and record data during the testing. With increasing use of materials and components in various industries such as telecommunication, automotive, aerospace, semiconductor, healthcare, and other industries, the demand for test and measurement equipment is constantly growing. The test and measurement equipment market reached more than US$ 20 billion in 2018 and is likely to grow in the near future.  

Test and Measurement Equipment Market- Notable Highlights

  • Rohde & Schwarz has received first approval for its cellular vehicle-to-everything protocol conformance testing, meeting the specifications of Global Certification Forum. Approval was granted based on the test executed using Rohde & Schwarz CMW500 radio communication tester SMBV100A vector signal generator.
  • Anritsu Corporation has revealed its strategy to gain more business deals in the 5G testing market. The 3GPP Release16 which is scheduled in 2020, the company plans to develop measuring equipment to support functions that will be added in 3GPP Release16.
  • Keysight Technologies Inc. announced the use of its 5G RF Conformance Toolset to submit 5G new radio standalone test cases to the Global Certification Forum. Company’s 5G RF test coverage also accelerates 5G NR mobile device certification for standalone mode.

Some of the most prominent competitors operating in the competitive landscape of global test and measurement equipment market include –

  • Rohde & Schwarz GmbH & Co. KG
  • Keysight Technologies
  • Fortive Corporation
  • Anritsu Corporation
  • National Instruments Corporation
  • Yokogawa Electric Corporation
  • Keysight Technologies
  • VIAVI Solutions Inc.
  • EXFO, Inc.
  • Texas Instruments Incorporated
  • Teledyne Technologies Inc.
  • Advantest Corporation

Test and Measurement Equipment Market Dynamics

Rise in Vehicle Components to Drive Demand for Test and Measurement Equipment in Automotive Industry

Growing electronic components in vehicles including connectivity, infotainment, and components for safety purpose is fueling the growth of test and measurement equipment market. Moreover, advent of electric and autonomous cars is also driving demand for test and measurement equipment in the automotive industry. Testing equipment are finding wide application to test vehicle components for performance, power supply, and testing electrical safety of electric and hybrid cars. Moreover, rise in the repair and aftersales service in the automotive industry with maintenance and repair option is also resulting in the wide application of variety of test and measurement equipment.

The latest trend in the automotive industry of switching to automated testing is also leading to the use of a variety of test and measurement equipment providing automated testing in vehicles.

Modularity Gaining Traction in Test and Measurement Equipment

Modularity is gaining popularity as an effective approach for extending life of test and measurement equipment. With advancement in technology, new systems are evolving across industries, in order to test these systems, modular approach is being used as in this the basic test chassis remains useful even if the technology to be tested is modified or upgraded. Manufacturers in the test and measurement equipment market are developing specific modules for specific technologies, meanwhile, in case of introduction of new version, new module for testing is created.

Device complexity and technology convergence is also driving demand for flexible test systems. Hence, in order to accommodate device changes, software-based modular system is being developed to meet the automated test and measurement equipment challenges.

Presence of Low-Quality Equipment and High Cost of Test and Measurement Equipment to Hamper Market Growth

Ensuring the quality of test and measurement equipment is important to conduct successful testing and measuring of various components. However, increasing availability of cheap and low-quality test and measurement equipment is impacting the testing and measuring of components. Moreover, the high cost of quality test and measurement equipment owing to tough price competition is also restraining market growth.

Meanwhile, other factors such as lack of incentives for exporters of test and measurement equipment, and no subsidies for capital investment in test and measurement equipment manufacturing are also impacting test and measurement equipment market growth. 

Test and Measurement Equipment Market Segmentation

Based on the product, the test and measurement equipment market is segmented into

  • Mechanical Test Equipment
  • General Purpose Test Equipment

Based on service type, the test and measurement equipment market is segmented into

  • Repair/Aftersales Services
  • Calibration Services

Based on the end-use industry, test and measurement equipment market segment include

  • Communication
  • Electronics
  • General industry
  • A&D

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?