PUBLISHER: The Business Research Company | PRODUCT CODE: 1409769
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409769
“RF Test Equipment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on rf test equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for rf test equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The rf test equipment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Radiofrequency (RF) test equipment is a specialized instrument, commonly known as a spectrum analyzer, employed across various frequency ranges for research and development (R&D) and production applications. This equipment plays a crucial role in conducting precise and repeatable measurements during radio frequency (RF) tests, whether in a laboratory setting or out in the field.
The major types of RF test equipment include oscilloscopes, signal generators, spectrum analyzers, network analyzers, and others. An oscilloscope is a test tool designed to record and display the behavior of an electrical signal over time. RF test equipment comes in various forms, such as rackmount, benchtop, portable, and modular units. These tools are capable of detecting radio frequencies that are less than 1 GHz, in the range of 1 GHz to 6 GHz, and exceeding 6 GHz. They find applications in diverse industries, including medical, industrial, IT and telecommunications, consumer electronics, academic and research institutions, automotive, aerospace, and defense, among other verticals.
The RF test equipment market research report is one of a series of new reports from The Business Research Company that provides RF test equipment market statistics, including RF test equipment industry global market size, regional shares, competitors with a RF test equipment market share, detailed RF test equipment market segments, market trends and opportunities, and any further data you may need to thrive in the RF test equipment industry. This RF test equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rf test equipment market size has grown rapidly in recent years. It will grow from $3.38 billion in 2023 to $3.74 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth observed in the historic period can be attributed to various factors, including the expansion of the telecommunications industry, the increasing complexity of RF devices, rising demand for mobile devices, applications in military and defense, the growth of satellite communication, and the globalization of electronics manufacturing. These factors collectively contributed to the increased demand for RF test equipment during the historic period.
The rf test equipment market size is expected to see rapid growth in the next few years. It will grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing complexity of RF designs, initiatives related to smart cities, the rapid expansion of wearables, applications in renewable energy, development in edge computing, and the demand for compact and portable test equipment. Additionally, major trends expected in the forecast period include internet of things (IoT) connectivity testing, rapid advancements in wireless standards, integration of software-defined radio, test automation, remote testing capabilities, and advancements in antenna testing.
The anticipated surge in the adoption of 5G technology is poised to drive the growth of the RF test equipment market in the foreseeable future. Serving as the fifth generation of mobile networks, 5G aims to establish a comprehensive network connecting virtually everyone and everything, including machines, objects, and devices. By integrating sub-6GHz bands and mmWave spectrum, along with other RF technologies such as ultra-wideband (UWB), sensors, and computing techniques, 5G facilitates integrated services such as industrial automation, self-driving vehicles, the Internet of Things, and cloud computing. The escalating wireless standards have further fueled the demand for 5G technology, with over 640 million 5G connections globally reported in late 2022. Projections from the GSM Association (GSMA) indicate an anticipated total of 2 billion 5G connections by 2025. This substantial adoption of 5G technology stands as a driving force for the RF test equipment market.
The increasing demand for consumer electronics is expected to be a catalyst for the growth of the RF test equipment market in the coming years. Consumer electronics, encompassing electronic devices designed for everyday individual use, rely on Radio Frequency (RF) testing as a crucial component in their design, development, and manufacturing processes. RF testing is instrumental in measuring and evaluating the performance of RF devices and circuits, ensuring they meet the required specifications. In 2022, the consumer electronics segment reported €33.7 billion ($37.4 billion) in sales, reflecting a notable increase of 9.6% from the previous year. This surge in consumer electronics demand serves as a key driver for the growth of the RF test equipment market.
A notable trend gaining traction in the RF test equipment market is product innovation. Major companies in the market are actively pursuing innovative solutions to maintain their competitive positions. For instance, Rohde & Schwarz, a Germany-based manufacturer of test and measurement equipment, introduced the R&S MXO 4 series in September 2022-a next-generation oscilloscope designed for accelerated insight. The series boasts a real-time update rate exceeding 4.5 million captures per second, enabling engineers to scrutinize more signal detail and infrequent occurrences. With enhanced RF spectrum measurement capabilities, the R&S MXO 4 series oscilloscopes offer engineers the ability to observe more RF signals than any other oscilloscope in its class.
Major players in the RF test equipment market are strategically focusing on technological innovations, such as the development of interface modules, to gain a competitive edge. Interface modules serve as hardware components facilitating communication between different electronic devices or systems. Quantic Corry, a US-based manufacturer of RF and Microwave Components, introduced a new line of input/output ('I/O') interface modules for the RF enclosure and RF/EMC test industry in June 2023. These modules provide unparalleled isolation and rejection performance, making them ideal for testing products and network services at the highest quality possible. The series of interface modules offers exceptional 100dB of isolation from 100KHz to 40GHz, optimized for superior performance and LTE spectrum rejection.
In March 2022, RF Industries Ltd., a US-based fiber optic cable manufacturing company, successfully acquired Microlab/FXR LLC for an undisclosed amount. This strategic acquisition positions the combined entity to develop a robust product roadmap, providing access to Microlab's high-performance, network operator-approved devices for RF Industries Ltd.'s expanding client base and distribution channels. Microlab/FXR LLC, a US-based designer and manufacturer of advanced RF and microwave components and systems, aligns with RF Industries Ltd.'s strategic objectives.
Major companies operating in the rf test equipment market report are Keysight Technologies Inc., Anritsu Group Corp., B&K Precision Corporation, Chroma ATE Inc., Cobham plc, EXFO Inc., Fortive Corp., Giga-Tronics Incorporated, Good Will Instruments Co. Ltd., National Instruments Corporation, Rohde & Schwarz GmbH & Co. KG, Teledyne Technologies Incorporated, Teradyne Inc., VIAVI Solutions Inc., Yokogawa Electric Corporation, TESSCO Technologies Inc., Wireless Telecom Group Inc., Advantest Corporation, Aeroflex Holding Corp., Agilent Technologies Inc., Anite plc, Fluke Corporation, JDS Uniphase Corporation, Spirent Communications plc, Tektronix Inc., LitePoint Corp., Ametek Inc., AWT Global LLC, Boonton Electronics Corporation, Com-Power Corp
North America was the largest region in the RF test equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the RF test equipment market report during the forecast period. The regions covered in the rf test equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the rf test equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The radio frequency (RF) test equipment market consists of sales of network analyzers, power sensors, and signal generators. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.