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What's Driving the Test and Measurement Equipment Market Trends? | Top Key Players: Fortive Corporation, Giga-Tronics Inc. Texas Instruments Inc., Keysight Technologies, Microsemi, National Instruments Corporation

11-13-2019 06:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Test and Measurement Equipment Market

Test and Measurement Equipment Market

The Global Test and Measurement Equipment Market Report 2019-2025 analyzes the important factors of this market based on present industry situations, market demands, business strategies utilized by the market players and their growth synopsis. This report divides based on the key players, type, application and regions are mentioned below.

Test and measurement equipment is mainly used for ratifying the performance of a wide range of electronic products. In the electronics industry, the demand for test and measurement equipment market is increasing rapidly due to the shrinking sizes of electronic gadgets, advancements in wireless technologies, and increasing network complexity of electronic circuits. Timely testing and measurement of the performance of electronic devices help in defect elimination and prevention of late-stage equipment failure. The adoption of testing solutions is expected to rise over the forecast timeline due to the increasing necessity of producing and maintaining high-quality products and supporting time-to-time testing, which will help in lowering the costs associated with product malfunctions, repairs, replacements, and product callbacks.

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The growing awareness about predictive maintenance among electric and automotive manufacturers is contributing to the growth of test and measurement equipment market. For instance, test and measurement equipment help in detecting failure of the automotive and electronic devices. Automotive industry is focusing on predictive maintenance to avoid loses in the future, that will increase demand for test and measurement equipment in this industry. Increasing customer demands for smart devices, such as smart watches and smart home appliances, will lead to a rise in the adoption of test and measurement equipment among testing managers and engineers to ensure the development of high-quality products and to lower the associated costs.

The companies operating in test and measurement equipment market are focusing on new product developments or enhancing qualities or features of their existing products to gain more market share. For instance, in July 2018, Tektronix launched USB-based spectrum analyzers, such as RSA500, RSA513A, and RSA518A, that can operate in different frequency ranges within 13 GHz and 18 GHz to expand its product line. In June 2018, Keysight Technologies launched a wide range of test and measurement solutions such as RF Test Solution and BSA Spectrum Analyzers for several developing markets such as Hybrid Electric Vehicle (HEV)/Electric Vehicle (EV), Home Energy Management Systems (HEMS), and batteries.

North America is expected to dominate the test and measurement equipment market due to supportive government initiatives to facilitate the deployment of test and measurement equipment in the IT & telecommunications industry. For instance, in January 2019, the Canadian Department of Innovation, Sciences and Economic Development issued Interference-Causing Equipment Standard (ICES-003), which sets technical requirements related to radio noise generated by Information Technology Equipment (ITE). In March 2018, the U.S. Food and Drug Administration (FDA) implemented Federal Regulations under Section 820.72 that defines the calibration requirements for medical equipment.

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Test and Measurement Equipment Market, By Product Type, 2014-2025 (USD Million)
o General Purpose Test Equipment
o Mechanical Test Equipment

Test and Measurement Equipment Market, By Service Type 2014-2025 (USD Million)
• Calibration Services
• Repair Services/After Sales Services

Test and Measurement Equipment Market, By End-Use 2014-2025 (USD Million)
• Automotive & Transportation
• Aerospace
• Defense
• IT & Telecommunications
• Semiconductor & Electronics
• Healthcare

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, Application, renewable energy and bio Application.

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