Press release
Test and Measurement Equipment Market 2020 Global Key Leaders: Yokogawa Electric, ADVANTEST, Fortive, Spectris PLC, National Instruments, Keysight Technologies, ROHDE&SCHWARZ
Market Overview:
Surge in the adoption of electronic devices and increasing use of modular instruments are giving rise to the integration of test & measurement equipment industry. The global est & measurement equipment market is expected to reach and cross USD 28 billion valuation mark with 4% CAGR during the forecast period (2017-2023). Market Research Future (MRFR) in their report mentioned that the moderate growth would witness traction from several sectors.
Factors to put the test & measurement equipment market forward in the coming years are its integration in several industries from healthcare to automobile, high investment in research & development sector to get the best-in-class products, and commercialization of products. These factors can ensure a safe passage for the test & measurement equipment market and in its revenue could be of great impact for the holistic market growth.
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Key Players:
Some of the prominent players in the global Test and Measurement Equipment Market are Fortive (U.S.), Rohde & Schwarz (Germany), Anritsu Corporation (Japan), Keysight Technologies (U.S.), Yokogawa Electric Corporation (Japan), National Instruments Corporation (U.S.), EXFO (Canada), Advantest Corporation (Japan), Viavi Solutions (U.S.), Cobham plc. (U.K), Teledyne Technologies, Inc. (U.S.), and Texas Instruments Inc., (U.S.) among others.
Market Segmentation:
MRFR in their report on the global test and measurement equipment market includes segments such as product, service, and application for a holistic overview of the market. The segmentation ensures detailed research of the data collected during the research procedure.
By product, the test and measurement equipment market include mechanical test equipment and general purposes test equipment. The mechanical test equipment segment comprises machine condition monitoring, machine vision inspection, and non-destructive test equipment. The general-purpose test equipment incorporates signal generator, oscilloscopes, logic analyzer, digital multimeter, network analyzer, power meter, spectrum analyzer, modular instrumentation, electronic counter, and automatic test equipment.
By service, the test and measurement equipment market incorporate calibration services, after-sales services, and others. The other services include training & consulting, asset management, climatic product testing, and shock testing.
By application, the test and measurement equipment market includes electronics & semiconductors, industrial, automotive, aerospace & defense, IT & telecommunication, education, and healthcare. The automotive segment is gaining quick grounds as the global automotive industry is burgeoning.
Regional Analysis:
Asia Pacific (APAC), North America, Europe, and the Rest-of-the-World (RoW) are the four regions named in MRFR’s geographic analysis report on the test and measurement equipment market. The report also aims at the unraveling of opportunities and growth pockets which could ensure better market prospects in the coming years.
The APAC market has the baton and it is expected to dominate throughout the review period. The region is gaining prominence due to the presence of several manufacturing units who are spurring the demand for test and measurement equipment. In addition, the automotive sector is growing at a rapid pace which can be assessed as backup for the regional market’s outstanding figures.
North America’s growth rate would be higher than its peers during the forecast period. Technological progress is expected to mark the opportunities well and industrial clusters have already started reaping its benefits. Its percolation to different industries has made it easier for the market to rise.
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Intended Audience
• Technology Investors
• Research/Consultancy Firms
• Government Bodies
• Consulting Service Providers
• Technology Providers
• System Integrators
• Software Vendors
• Web Content Developers
• Service Providers
• Cloud Platform Providers
• Mobile Application Developers
• Communication Service Providers (CSPs)
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