Test and Measurement Equipment Market Size, Share | Forecast 2022-2027

According to the recent report by IMARC Group, titled "Test and Measurement Equipment Market Size"Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027," The global test and measurement equipment market size reached US$ 23.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 31.0 Billion by 2027, exhibiting a growth rate (CAGR) of 4.67% during 2022-2027.

Test and measurement equipment represent numerous tools used to analyze, measure, test, display, and record electrical data. These tools generate electrical signals and capture the responses from various devices in the testing phase to spot faults and ensure the proper functioning of the equipment. Some of the usually utilized test and measurement equipment include oscilloscopes, ammeters, digital multimeters, voltmeters, watt meters, spectrum analyzers, etc. They are developed to indicate a specific parameter, such as length, weight, current, voltage, and temperature, etc., and the presence or absence of distinguishing physical characteristics.

Global Test and Measurement Equipment Market Trends:

The inflating industrialization levels are primarily driving the test and measurement equipment market. Additionally, the growing popularity of these devices for checking defects in high-performance and power-efficient consumer electronics and semiconductors during their manufacturing procedures is positively influencing the global market. Besides this, the increasing utilization of test and measurement equipment for regular checking and diagnosing of any faults in aircraft, helicopters, and other machines is bolstering the market growth. Moreover, the escalating demand for machine control, factory automation, and establishing remote sensor connections in the automotive and transportation sectors is also catalyzing the market growth.

Apart from this, the introduction of several technological advancements, such as the elevating integration of connected devices with the Internet of Things (IoT) and the development of machine-to-machine (M2M) interaction systems, are acting as significant growth-inducing factors. Furthermore, continuous improvements in the networking and communications infrastructures and the rising automation of laboratory instruments are expected to fuel the test and measurement equipment market in the coming years.

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Global Test and Measurement Equipment 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Advantest Corporation
Anritsu Corporation
EXFO Inc.
Fortive
Keysight Technologies
National Instruments
Rohde & Schwarz
Teledyne Technologies Incorporated
Texas Instruments Incorporated
VIAVI Solutions Inc.
Yokogawa Electric Corporation

The report has segmented the market on the basis on region, product, service type and end use industry.

Breakup by Product:

General Purpose Test Equipment (GPTE)
Oscilloscopes
Signal Generators
Multimeters
Logic Analyzers
Spectrum Analyzers
Bert (Bit Error Rate Test)
Network Analyzers
Others
Mechanical Test Equipment (MTE)
Non-Destructive Test Equipment
Machine Vision Inspection
Machine Condition Monitoring

Breakup by Service Type:

Calibration Services
Repair Services/After-Sales Services

Breakup by End Use Industry:

Automotive and Transportation
Aerospace and Defense
IT and Telecommunication
Education
Semiconductor and Electronics
Others

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

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Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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