Press release
EMC Testing Market Poised for Growth, Anticipated to Reach $3.25 Billion by 2033 with a 6.1% Growth Rate
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company presents an extensive market research report on the EMC Testing Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The emc testing market size has grown strongly in recent years. It will grow from $2.4 billion in 2023 to $2.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to growing awareness of electromagnetic interference, growing aerospace and defense sector, expansion of automotive electronics, adoption of medical electronics, increasing complexity of electronic systems.
The emc testing market size is expected to see strong growth in the next few years. It will grow to $3.25 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to globalization of electronics manufacturing, proliferation of iot devices, increasing complexity of medical devices, rapid growth in electric vehicles, expansion of renewable energy technologies, rise in telecommuting technologies. Major trends in the forecast period include technological advancements in electronics, integration of ai and machine learning, advancements in aerospace technologies, green emc testing practices.
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Key Market Players:
Major companies operating in the emc testing market report are UL LLC, Eurofins Scientific SE, Anritsu Corporation, SGS SA, Agilent Technologies Inc., Bureau Veritas SA, Ametek Inc., Keysight Technologies Inc., Intertek Group PLC, DEKRA Group, Rohde & Schwarz GmbH & Co. KG, TÜV Rheinland Group, Element Materials Technology Group Limited, ESCO Technologies Inc., Nemko Group AS, National Technical Systems Inc., Good Will Instrument Co. Ltd., Elite Electronic Engineering Inc., Frankonia Group, MiCom Labs Inc, F2 Labs, GAUSS INSTRUMENTS International GmbH, Washington Laboratories Ltd, NCEE Labs, G&M Compliance Inc., AR Inc., Com-Power Corporation, E-Labs Inc., QAI Laboratories
Market Drivers:
Rising demand for electrical vehicles is expected to propel the growth of the EMC testing market going forward. An electric vehicle is described as a vehicle that has an electric motor capable of drawing power from a battery and has an external source for charging. In electrical vehicles, EMC testing measures the radio frequency (RF) emissions produced by the car's electrical systems. It assesses their susceptibility to RF impulses inside and outside the vehicle. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales set a new high in 2021, climbing by 4%. Sales nearly double to 6.6 million compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the rising demand for electrical vehicles is driving the growth of the EMC testing market.
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https://www.thebusinessresearchcompany.com/report/emc-testing-global-market-report
The emc testing market covered in this report is segmented -
1) By Offering Type: Hardware, Software
2) By Services Type: Testing Services, Inspection Services, Certification Services, Other Services
3) By End-Use: Consumer Appliances And Electronics, Automotive, Military And Aerospace, IT And Telecommunications, Medical, Industrial, Renewable Energy, Railways
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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