Global Test and Measurement Equipment Markets, 2018-2024 - Rapid Penetration of IoT Devices Presents Opportunities

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Feb 01, 2019, 07:45 ET

DUBLIN, Feb. 1, 2019 /PRNewswire/ --

The "Test and Measurement Equipment Market by Product (General Purpose Test Equipment, Mechanical Test Equipment), Service Type (Calibration Services, Repair Services/After Sales Services), End-Use Sector, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The overall test and measurement equipment market is expected to grow from USD 25.7 billion in 2018 to USD 32.3 billion by 2024, at a CAGR of 3.9%.

The market is growing due to the increasing demand for this equipment in end-use sectors, such as automotive & transportation, aerospace & defense, IT & telecommunications, education & government, semiconductor & electronics, industrial, and healthcare.

The test and measurement equipment market is expected to grow at the highest CAGR in the healthcare sector during the forecast period. There is a significant potential for growth of the test and measurement equipment market in this sector due to the development of new healthcare equipment, patient-monitoring systems, and personal emergency reporting systems.

Automotive and transportation segment projected to lead the test and measurement equipment market during forecast period

Among the end-use applications considered, automotive and transportation is estimated to be the largest contributor to the overall test and measurement equipment market in 2018.

The increasing number of automotive manufacturing hubs in the world implementing advanced automation technologies for production is expected to boost the demand for test and measurement equipment offerings.

Additionally, Ethernet (IEEE 802.3) is a widely used protocol in automotive manufacturing. In the automotive industry, many processes are controlled through computers, and Ethernet is one of the most suitable protocols for computer-enabled communication.

General purpose test equipment segment to grow at the highest CAGR in the test and measurement equipment market during forecast period

The general purpose test equipment segment includes oscilloscopes, signal generators, digital multimeters, logic analyzers, spectrum analyzers, Bit Error Rate Tester (BERT), network analyzers, power meters, electronic counters, modular instrumentation, Automated Test Equipment (ATE), and power supplies.

The characteristics of the aforementioned types of equipment include large size, bulky displays, slightly complicated control systems, and customer user interfaces. This scenario is expected to change to an extent, owing to the demand for small-sized tools and integration of various test and measurement equipment into one offering.

Most of the test and measurement equipment now offers high bandwidth, greater accuracy, and higher resolution than that in the earlier equipment. Some of the prominent applications for equipment under this category are IT & telecommunications, healthcare, automotive, and industrial sectors.

North America to lead the test and measurement equipment market

The test and measurement equipment market, by geography, has been broadly classified into North America, Europe, APAC, and RoW. In terms of value, North America is estimated to account for the largest share of the market in 2018 owing to the fact that a majority of the leading industry players have a presence in this region.

The market in APAC is expected to grow at the highest CAGR between 2018 and 2024. The governments of Asian countries, such as Japan, China, and India are undertaking initiatives to encourage industries to establish manufacturing and R&D facilities in their countries.

For instance, the Indian government started the Make in India program to increase foreign investments and businesses in India. Initiatives like these are expected to boost the test and measurement equipment market.

Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 By Geography
1.4 Years Considered for the Study
1.5 Currency
1.6 Package Size
1.7 Limitations
1.8 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumption

3 Executive Summary

4 Premium Insight
4.1 Attractive Opportunities in the Test and Measurement Equipment Market
4.2 Test and Measurement Equipment Market, By Product
4.3 Test and Measurement Equipment Market for GPTE Product, By Region
4.4 Test and Measurement Equipment Market, By End-Use Sector
4.5 Test and Measurement Equipment Market, By Service Type
4.6 Test and Measurement Equipment Market for Network Analyzers, By End-Use Sector

5 Market Overview
5.1 Introduction
5.2 Value Chain Analysis
5.2.1 Research & Development
5.2.2 Manufacturing and Assembly
5.2.3 Distribution and End Users
5.2.4 Post-Sale Service
5.3 Key Industry Trends
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Growing Adoption of Electronic Devices
5.4.1.2 Increased Penetration of Modular Instrumentation
5.4.1.3 Technological Advancement Towards Networking and Communication
5.4.1.4 Growing Demand for High-Performance and Power-Efficient Electronic Devices
5.4.2 Restraints
5.4.2.1 Price Sensitivity of Test and Measurement Equipment
5.4.3 Opportunities
5.4.3.1 Advent of 5G Technology and Deployment of LTE and LTE-Advanced (4G) Networks
5.4.3.2 Rapid Penetration of IoT Devices
5.4.4 Challenges
5.4.4.1 Increased Penetration of Rental and Leasing Services
5.4.4.2 Matching Up With the Constantly Changing Technologies
5.4.4.3 Antenna Array Complexity, Calibration, and Irregularity

6 Test and Measurement Equipment Market, By Product
6.1 Introduction
6.2 General Purpose Test Equipment (GPTE)
6.2.1 Oscilloscopes
6.2.1.1 Wide Use of Oscilloscopes for High-Speed Testing
6.2.2 Signal Generators
6.2.2.1 Increasing Demand for Signal Generators in Aerospace & Defense, Automotive, Electronic Product Manufacturing, and Healthcare Sectors
6.2.3 Multimeters
6.2.3.1 High Adoption of Multimeters Owing to Their High Accuracy
6.2.4 Logic Analyzers
6.2.4.1 Logic Analyzer is A Versatile Tool Useful for Debugging Digital Hardware and Embedded Software
6.2.5 Spectrum Analyzers
6.2.5.1 Measurement of Critical Parameters for Communication Made Easy With Spectrum Analyzers
6.2.6 Bert (Bit Error Rate Test)
6.2.6.1 Bert Testing Method Specifically Used for Digital Communication Circuits
6.2.7 Network Analyzers
6.2.7.1 Network Analyzer is an Effective Testing Tool in R&D and Production Stages
6.2.8 Power Meters
6.2.8.1 Power Meters Have Applications in Testing the Output Power of Communication Base Station Transmitters, Cellular Telephones, Residential Electricity Meters
6.2.9 Electronic Counters
6.2.9.1 Electronic Counters Find Applications Displaying Batch Counting, Numeric Positioning, Coil Winds, and So On
6.2.10 Modular Instrumentation
6.2.10.1 Technology Convergence and Device Complexity Drive the Need for Modular Architecture
6.2.11 Automated Test Equipment (ATE)
6.2.11.1 Use of Automated Test Equipment Reduces Manufacturing Time
6.2.12 Power Supplies
6.2.12.1 Demand for Power Supplies is Driven By the Rising Need to Control A Higher Degree of Load
6.3 Mechanical Test Equipment (MTE)
6.3.1 Non-Destructive Test Equipment
6.3.1.1 Non-Destructive Testing Market is in the Maturity Stage
6.3.2 Machine Vision Inspection
6.3.2.1 Machine Vision is A Key Technology in the Area of Manufacturing and Quality Control
6.3.3 Machine Condition Monitoring
6.3.3.1 Machine Condition Monitoring is an Essential Part of Predictive Maintenance Program

7 Test and Measurement Equipment Market, By Service Type
7.1 Introduction
7.2 Calibration Services
7.2.1 Calibration Services Offer Comparison Between Actual Performance and Standard Performance of Any Equipment
7.3 Repair Services/After-Sales Services
7.3.1 Repair/After-Sales Services Minimize Turnaround Time and Enhance Under-Inspection Product Quality
7.4 Other Services
7.4.1 Asset Management
7.4.1.1 Asset Management is an Effective Outsourcing Solution Conforming Total Technical Compliance
7.4.2 Consulting & Training Services
7.4.2.1 Consulting & Training Services Assist Their Customers With the Implementation and Optimization of Industrial Processes
7.4.3 Climatic Product Testing
7.4.3.1 Climatic Product Testing Ensures Products Can Function Under Any Climatic Conditions
7.4.4 Environment Product Testing
7.4.4.1 Environment Tests Carried on Finished Products to Verify If Product Can Withstand Various Environmental Conditions
7.4.5 Shock Testing
7.4.5.1 Shock Testing Mostly Conducted on Products Employed in Military and Consumer Applications
7.4.6 Other Extended Premium Plans

8 Test and Measurement Equipment Market, By End-Use Sector
8.1 Introduction
8.2 Automotive & Transportation
8.2.1 Sophisticated Electronic Systems are in Demand for Luxury Cars and Sport Utility Vehicles
8.3 Aerospace & Defense
8.3.1 Growing Concerns of Air Traffic Control Result in Rising Adoption of Test and Measurement Equipment in Aerospace & Defense
8.4 It & Telecommunications
8.4.1 Growth of the Test and Measurement Equipment Market Driven By the Increasing Demand for Wireless Technologies
8.5 Education & Government
8.5.1 Rising Need to Launch New Equipment in Education and Government Propels Demand for Test and Measurement Equipment
8.6 Semiconductor & Electronics
8.6.1 Decreasing Time-To-Market for Consumer Electronic Products Surge the Demand for Test and Measurement Equipment in Semiconductor & Electronics Industry
8.7 Industrial
8.7.1 Rising Demand for Testing and Measuring Equipment in Industrial Sector to Ensure Proper Functioning of Systems and Devices
8.8 Healthcare (Medical)
8.8.1 Increasing Use of Testing Equipment in Healthcare Enhances Efficiency and Accuracy of Medical Devices

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Increasing Adoption of Communication Test and Measurement Solutions in the US for the Better Delivery of Video, Voice, and Data Services
9.2.2 Canada
9.2.2.1 Increasing Demand for Communication Testing and Broadband Services in Canada Boost the Market Growth
9.2.3 Mexico
9.2.3.1 Rising Demand for Compact Cars Fosters the Test and Measurement Equipment Market Growth in Mexico
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany Accounted for the Second-Largest Share of the European Test and Measurement Equipment Market in 2016
9.3.2 UK
9.3.2.1 With He Privatization of the Power Sector, There is an Increasing Investment in the Energy Sector in Uk
9.3.3 France
9.3.3.1 Rise in the Adoption of Test and Measurement Equipment in the Aerospace & Defense Sector
9.3.4 Rest of Europe
9.4 APAC
9.4.1 China
9.4.1.1 Growing Telecommunications Industry Drives the Market in China
9.4.2 Japan
9.4.2.1 Increase in Foreign Direct Investments in the Industrial Sector Owing to Technological Advancements
9.4.3 India
9.4.3.1 Several Initiatives By the Government of India Boost Semiconductor Production in the Country
9.4.4 Rest of APAC
9.5 RoW
9.5.1 South America
9.5.1.1 Rising Adoption of Wireless Communications and Networking Solutions Drive the Market Growth in South America
9.5.2 Middle East & Africa
9.5.2.1 Growing Investments in Communication, Infrastructure, and Networking Applications Would Lead High Adoption of Test and Measurement Equipment in the Middle East and Africa

10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking Analysis: Test and Measurement Equipment Market
10.3 Competitive Situations and Trends
10.3.1 Product/Solution Launches
10.3.2 Partnerships/Collaborations
10.3.3 Acquisitions

11 Company Profiles
11.1 Introduction
11.2 Key Players
11.2.1 Fortive
11.2.2 Keysight Technologies
11.2.3 Rohde & Schwarz
11.2.4 Advantest
11.2.5 National Instruments
11.2.6 Viavi Solutions
11.2.7 Anritsu
11.2.8 Yokogawa Electric
11.2.9 EXFO
11.2.10 Texas Instruments
11.2.11 Teledyne
11.3 Key Innovators
11.3.1 Gw Instek
11.3.2 Rigol Technologies
11.3.3 Giga-Tronics
11.3.4 B&K Precision
11.3.5 Stanford Research Systems
11.4 Other Important Players
11.4.1 Ametek
11.4.2 Adlink Technology
11.4.3 Leader Instruments
11.4.4 DynamicSignals
11.4.5 Freedom Communication
11.4.6 Vaunix
11.4.7 DS Instruments
11.4.8 Saluki

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