Press release
Test and Measurement Equipment Market: Global Opportunity Analysis and Industry Forecast, 2019-2026
Test and measurement equipment are the equipment that are used while designing and manufacturing a product or service to ensure highest level of customer satisfaction with products and services. The test and measurement equipment play an important role in the delivery of product and service quality to the customer. Test and measurement equipment are used in several industries such as medical, automotive, energy, telecommunications, consumer electronics, semiconductors, aerospace and defense.Test and measurement equipment are used in different phases of the product life cycle, such as design of new products and development of old product. Test and measurement equipment are also used for the final inspection of end products. On the basis of product, the general-purpose test equipment segment values for the largest market share followed by mechanical test equipment. Automated test equipment oscilloscopes cover the major test and measurement equipment market share in general-purpose test equipment.
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The major companies profiled in the test and measurement equipment market include Fortive Corporation, Rohde & Schwarz GmbH & Co. KG, Anritsu Corporation, Keysight Technologies, Yokogawa Electric Corporation, National Instruments Corporation, EXFO, Inc., Advantest Corporation, VIAVI Solutions Inc., and Texas Instruments Incorporated.
Geographically, North America cover the largest market share as several major players are present in this region. Furthermore, Asia-Pacific is also expected to grow at a fastest pace as the governments in these regions are taking various initiatives to promote the innovations and R&D in their countries.
The automotive industry is expected to gain the highest market share, considering the recent trends related to the connected car and autonomous car. Due to the development of new healthcare equipment, patient-monitoring systems, and personal emergency reporting systems the healthcare sector is expected to drive the test and measurement equipment market.
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Some of the major factors that drive the growth of the test and measurement equipment market include increase in demand for T&M solutions by end users, increase in technological advancement, and rise in demand for electronic devices. However, the price sensitivity of test and measurement equipment is expected to restrain the market growth. Each of these factors is anticipated to have a definite impact on the test and measurement equipment market during the forecast period.
Furthermore, advent of 5G technology and deployment of LTE & LTE-Advanced (4G) Networks Rapid Penetration of IoT Devices are anticipated to provide growth opportunities for the market expansion.
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The test and measurement equipment market is segmented based on product, service type, end use and region.
Based on product, the market is bifurcated into general purpose test equipment and mechanical test equipment. By service type, it is categorized into calibration services and repair services/after sales services.
Based on End Use, the market is divided into automotive & transportation, aerospace & defense, IT & telecommunications, education & government, semiconductor & electronics, industrial, and healthcare.
By instrumentation type, it is classified into active probes, data acquisition, field instrumentation, lab instrumentation, laser distance measurement, scales & weight, and spectroscopy.
Based on type, it is categorized into destructive and non-destructive testing. Based on region, the market is analyzed into Asia-Pacific, Europe, North America, Latin America, and Middle East & Africa.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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