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PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1620539

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PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1620539

Test and Measurement Equipment Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032

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PAGES: 200 Pages
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The Global Test And Measurement Equipment Market, valued at USD 28.8 billion in 2023, is projected to grow at a CAGR of 5.1% from 2024 to 2032. This growth is largely driven by the rapid deployment of 5G networks, which has led to a significant demand for advanced testing solutions. As telecom companies continue to upgrade their infrastructure, the need for precise wireless test equipment is on the rise. Additionally, the increasing complexity of modern devices across industries like automotive and healthcare has necessitated more extensive testing to ensure compliance with emerging standards and optimal performance. The focus on quality assurance and regulatory compliance across sectors is also boosting demand for high-performance testing equipment.

Stricter industry standards, especially in fields like healthcare, automotive, and aerospace, require manufacturers to invest in precise and reliable measurement tools. This trend is prompting significant innovation in the test and measurement equipment market as companies look to enhance product performance and safety. The market is segmented by product into wireless test equipment, general-purpose test equipment, semiconductor test equipment, and others. In 2023, general-purpose test equipment held the largest share, accounting for over 44% of the market.

The increasing complexity of electronic devices has spurred demand for versatile and easy-to-use equipment with advanced features such as automated testing and cloud connectivity. This trend is particularly prominent in sectors like education and research, where cost-effective and adaptable solutions are essential. By technology, the market is divided into digital test, analog test, automated test, and others. The digital test segment captured over 40% of the market share in 2023. Digital testing solutions are revolutionizing the industry by improving efficiency and accuracy.

Market Scope
Start Year2023
Forecast Year2024-2032
Start Value$28.8 Billion
Forecast Value$44.9 Billion
CAGR5.1%

The rise of automation and the integration of AI and machine learning have made real-time data analysis more accessible, particularly in sectors like telecommunications and automotive, where precision is paramount. Regionally, North America led the market in 2023, with a share of over 37%, fueled by the rapid adoption of technologies like 5G and IoT. Meanwhile, Europe and the Asia Pacific region are also experiencing significant growth due to increased investments in R&D, industrial expansion, and stricter regulations across various sectors.

Product Code: 11842

Table of Contents

Chapter 1 Methodology & Scope

  • 1.1 Research design
    • 1.1.1 Research approach
    • 1.1.2 Data collection methods
  • 1.2 Base estimates and calculations
    • 1.2.1 Base year calculation
    • 1.2.2 Key trends for market estimates
  • 1.3 Forecast model
  • 1.4 Primary research & validation
    • 1.4.1 Primary sources
    • 1.4.2 Data mining sources
  • 1.5 Market definitions

Chapter 2 Executive Summary

  • 2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

  • 3.1 Industry ecosystem analysis
  • 3.2 Supplier landscape
    • 3.2.1 Raw material suppliers
    • 3.2.2 Manufacturers
    • 3.2.3 Component and subsystem suppliers
    • 3.2.4 Distributors and channel partners
    • 3.2.5 Service providers
    • 3.2.6 End users
  • 3.3 Profit margin analysis
  • 3.4 Technology & innovation landscape
  • 3.5 Key news & initiatives
  • 3.6 Regulatory landscape
    • 3.6.1 Price analysis
    • 3.6.2 General purpose test equipment
    • 3.6.3 Semiconductor test equipment
    • 3.6.4 Wireless test equipment
  • 3.7 Impact forces
    • 3.7.1 Growth drivers
      • 3.7.1.1 Rising demand for wireless communication testing solutions
      • 3.7.1.2 Increasing adoption of IoT-connected devices globally
      • 3.7.1.3 Expanding 5G network deployments driving equipment needs
      • 3.7.1.4 Growing semiconductor industry requires advanced testing tools
    • 3.7.2 Industry pitfalls & challenges
      • 3.7.2.1 High cost of advanced testing equipment upgrades
      • 3.7.2.2 Increasing complexity of devices requiring specialized knowledge
  • 3.8 Growth potential analysis
  • 3.9 Porter's analysis
  • 3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

  • 4.1 Introduction
  • 4.2 Company market share analysis
  • 4.3 Competitive positioning matrix
  • 4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Product, 2021 - 2032 ($Bn, Units)

  • 5.1 Key trends
  • 5.2 General purpose test equipment (GPTE)
    • 5.2.1 Oscilloscopes
    • 5.2.2 Signal generators
    • 5.2.3 Multimeters
    • 5.2.4 Others
  • 5.3 Wireless test equipment
    • 5.3.1 RF test equipment
    • 5.3.2 Network analyzers
    • 5.3.3 EMI/EMC test equipment
    • 5.3.4 Others
  • 5.4 Semiconductor test equipment
    • 5.4.1 ATE
    • 5.4.2 PTE
  • 5.5 Others

Chapter 6 Market Estimates & Forecast, By Service, 2021 - 2032 ($Bn)

  • 6.1 Key trends
  • 6.2 Calibration services
  • 6.3 Maintenance and repair services
  • 6.4 Others

Chapter 7 Market Estimates & Forecast, By Technology, 2021 - 2032 ($Bn, Units)

  • 7.1 Key trends
  • 7.2 Analog test
  • 7.3 Digital test
  • 7.4 Automated test
  • 7.5 Others

Chapter 8 Market Estimates & Forecast, By End Use, 2021 - 2032 ($Bn, Units)

  • 8.1 Key trends
  • 8.2 Telecommunications
  • 8.3 Automotive
  • 8.4 Aerospace and defense
  • 8.5 Healthcare
  • 8.6 Electronics and semiconductors
  • 8.7 Energy and utilities
  • 8.8 Industrial automation
  • 8.9 Others

Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn, Units)

  • 9.1 Key trends
  • 9.2 North America
    • 9.2.1 U.S.
    • 9.2.2 Canada
  • 9.3 Europe
    • 9.3.1 UK
    • 9.3.2 Germany
    • 9.3.3 France
    • 9.3.4 Spain
    • 9.3.5 Italy
    • 9.3.6 Russia
    • 9.3.7 Nordics
  • 9.4 Asia Pacific
    • 9.4.1 China
    • 9.4.2 India
    • 9.4.3 Japan
    • 9.4.4 South Korea
    • 9.4.5 ANZ
    • 9.4.6 Southeast Asia
  • 9.5 Latin America
    • 9.5.1 Brazil
    • 9.5.2 Mexico
    • 9.5.3 Argentina
  • 9.6 MEA
    • 9.6.1 UAE
    • 9.6.2 South Africa
    • 9.6.3 Saudi Arabia

Chapter 10 Company Profiles

  • 10.1 Advantest Corporation
  • 10.2 Anritsu Corporation
  • 10.3 Chroma ATE
  • 10.4 Emerson Electric
  • 10.5 Fluke Corporation
  • 10.6 GW Instek
  • 10.7 Hioki Corporation
  • 10.8 Keithley Instruments
  • 10.9 Keysight Technologies
  • 10.10 Leica Microsystems
  • 10.11 Marvin Test Solutions
  • 10.12 National Instruments
  • 10.13 RIGOL Technologies
  • 10.14 Rohde & Schwarz
  • 10.15 Saluki Technology
  • 10.16 Spirent
  • 10.17 Tektronix
  • 10.18 Teledyne Technologies
  • 10.19 Viavi Solutions
  • 10.20 Yokogawa Electric
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