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Global Wireless Testing Market (2021-2028) | Latest COVID19 Impact Analysis | Know About Key Players: SGS Group, Anritsu Corporation, Bureau Veritas, DEKRA SE, Rohde & Schwarz GmbH & Co., Intertek Group Plc., TUV Rheinland, and Viavi Solutions Inc.
Wireless Testing Market
Allied Market Research published a research report on the wireless testing market. The findings of the report states that the global market for wireless testing system generated $10.48 billion in 2019, and is expected to reach $16.80 billion by 2028, manifesting a CAGR of 6.9% from 2021 to 2028. The report provides valuable data on changing market dynamics, key segments, top investment pockets, and competitive scenario for market players, new entrants, investors, and shareholders.
“The wireless testing market in Asia-Pacific is expected to grow at the highest rate during the forecast period, owing to increase in adoption of smart devices. Moreover, North America accounted for the highest market share in 2019, owing to the expansion of the telecom and consumer electronics market”, said Avinash Savekar, the lead analyst of semiconductor and electronics at Allied Market Research.
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The report provides detailed information based on the key determinants of the market to help market players in devising growth strategies and capitalizing on opportunities. Increase in adoption of smart electronic appliances, advancement in wireless technologies, and rise in usage of smart devices fuel the growth of the global wireless testing market. On the other hand, high cost and lack of skilled workforce restrain the market growth. Moreover, rise in adoption of internet of things (IoT) technologies presents new opportunities in the coming years.
The report provides a detailed scenario based on impact of the COVID-19 pandemic on the wireless testing system market globally. It helps the market players, new entrants, and investors to determine strategies according to the current scenario and improvise the business structure for the approaching time. As a result of COVID-19 pandemic, the manufacturing activities of equipment used for wireless testing slowed down due to lockdown imposed in many countries and supply chain disruptions occurred. Furthermore, partial or complete suspension in operations in various application industries such as automotive, consumer electronics, and energy & power decreased the demand for wireless testing. However, the demand is expected to grow during the post-lockdown.
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The report offers detailed segmentation of the global wireless testing system market based on segmented on the basis of offering, technology, application, and region. These insights are useful for the new entrants and existing market players to capitalize on the fastest growing and highest revenue generating segment to accomplish growth in the coming years.
Based on offering, the equipment segment dominated the market with highest share, holding for around three-fourths of the total share in 2020, and is expected to maintain its lead position throughout the forecast period. At the same time, the service segment is anticipates to exhibit the largest CAGR of 8.0% from 2021 to 2028.
Based on technology, the 4G/LTE segment held the highest market share in 2020, with around one-fourth of the global wireless testing market, and is anticipated to maintain its leadership status during the forecast period. In addition, this segment is expected to showcase the highest CAGR of 8.4% from 2021 to 2028.
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Based on region, the market is studied across Asia-Pacific, Europe, North America, and LAMEA. The market across North America dominated with the largest market share in 2020, accounting for nearly two-fifths of the total share, and is expected to maintain its dominance in terms of revenue by 2027. However, the market across Asia-Pacific region is anticipated to portray the fastest CAGR of 9.4% during the forecast period.
The frontrunner profiled in the report include Bureau Veritas, DEKRA SE, Rohde & Schwarz GmbH & Co., Intertek Group Plc., TUV Rheinland, SGS Group, Anritsu Corporation, Viavi Solutions Inc., Electro Magnetic Test, Inc., and EXFO Inc.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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