LONDON, March 30, 2016 /PRNewswire/ -- The growing demand for automated products and need for test and measurement equipment is expected to drive the Communication Test and Measurement market
The global communication test and measurement market is estimated to grow from USD 4.28 billion in 2015 to USD 6.69 billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 9.3% from 2015 to 2020. Increased demand for automated test and measurement equipment, increased global telecommunication Research and Development (R&D) spending, growing demand for network testing, and increased adoption of broadband services and communication standards are the major drivers of communication test and measurement market.
Asia-Pacific (APAC) expected to be grow at the highest CAGR for wireless test solutions
The field network test is estimated to contribute the largest market share for type of test segment during the forecast period. Furthermore, due to increase in network traffic, the communication test and measurement wireless test solutions is expected to gain traction and grow at the highest CAGR in the next five years. The communication test and measurement market is also projected to witness growth in APAC and Latin America with the growing adoption of broadband services and communication standards. Communication test and measurement managed services is expected to grow at the highest CAGR from 2015 to 2020. However, product support service is expected to contribute the largest market share during the forecast period.
To determine the market size of various segments and sub-segments of communication test and measurement market extensive, secondary research is done. The collected data are then verified through primary interviews. Key people such as C-level (60%), Director level (25%), and other executives (15%) from various Tier 1(55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The primary interviews were conducted across North America (20%), Europe (25%), APAC (25%), Middle East and Africa (MEA) (15%) and Latin America (15%).
Demand for IoT based projects will open up new opportunities for communication test and measurement providers
In next five years, R&D on 5th Generation (5G) and demand for Internet of Things (IoT) based projects in various industrial verticals will provide huge opportunities of growth to communication test and measurement market. The number of devices connected to internet is estimated to grow from 14 billion in 2015 to 40 billion by 2020. To test such a huge number of devices, there will a high demand for fast and accurate communication test and measurement solutions.
Various key players in the communication test and measurement market profiled in the report are as follows:
1. Anritsu Corporation
2. Agilent Technologies
3. Danaher Corporation
6. National Instruments
8. Spirent Communications
9. Yokogawa Electric Corporation
10. Viavi Solution
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the communication test and measurement market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the end-users and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product develpoments, partnerships, mergers and acquisitions.
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