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Wireless Testing Market Growth Analysis, Size, Market Research Report 2024-2033
Wireless Testing Market Growth Analysis
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According to The Business Research Company's, The wireless testing market size has grown strongly in recent years. It will grow from $13.22 billion in 2023 to $14.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increased complexity in wireless networks, increased demand for faster time-to-market, globalization and market competition, emergence of m2m communication, wi-fi standard advancements.
The wireless testing market size is expected to see strong growth in the next few years. It will grow to $19.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to shift towards software-defined networking (sdn), edge computing testing needs, industry-specific testing demands, connected vehicle testing, increasing focus on quality of service (qos). Major trends in the forecast period include 5g network rollout, iot expansion, connected devices proliferation, emergence of wi-fi 6 and wi-fi 6e, telecommunication standards evolution.
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Market Drivers and Trends:
The rise in cyberattacks and security breaches is expected to propel the wireless testing market going forward. Cyberattacks refer to malicious activities conducted through digital means, such as hacking, phishing, or malware, with the intent to compromise computer systems, networks, or sensitive data. Security breaches refer to unauthorized access, disclosure, or manipulation of confidential information. Wireless testing plays a crucial role in identifying vulnerabilities and assessing cybersecurity preparedness against potential cyberattacks and security breaches. For instance, in January 2023, according to the new data provided by Checkpoint, an Israel-based provider of software and hardware products for IT security global cyberattacks increased by 38% in 2022, compared to 2021. Also, according to ESET Threat Report T2 2021, researchers found a 7.3% increase in email-based attacks between May and August 2021, the majority of which were part of phishing campaigns created by cybercriminals to steal financial resources. Therefore, the rise in cyberattacks and security breaches is driving the wireless testing market.
Advanced technologies are a key trend in the wireless testing market. Companies in the market are focusing on technological advances such as automated testing platforms to reduce time and improve testing efficiency. For instance, in March 2022, American network test, measurement, and assurance technology company, Viavi Solutions launched FiberComplete PRO, a fiber test solution with a suite of capabilities that replaces six test instruments. The new product fully automates all the fiber qualification tests required for constructing and certifying any fiber optic network and reduces fiber acceptance testing time by nearly 80%.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
SGS Group, Anritsu Corporation, Bureau Veritas S.A., DEKRA SE, Rohde & Schwarz GmbH & Co KG, Intertek Group plc, TUV Rheinland Group, Viavi Solutions Inc., Electro Magnetic Test Inc., EXFO Inc., BluFlux LLC, Spirent Communications plc, Eurofins Scientific SE, Spirent Communications plc, Keysight Technologies Inc., National Instruments Corporation, Cobham Wireless Limited, Teradyne Inc., Intelligraphics Inc., CTIA - The Wireless Association, Octoscope Inc., Wireless Telecom Group Inc., RedMango Analytics Inc., CETECOM GmbH, Global Wireless Solutions Inc., Elma Electronic AG, PCTEST Engineering Laboratory Inc., TestingHouse, DEWESoft d.o.o., Metricell Ltd.
Wireless Testing Market 2024 Key Insights:
• The wireless testing market size is expected to see strong growth in the next few years. It will grow to $19.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• 5G Network Development Fuels Growth In The Wireless Testing Market
• Advancements In Automated Testing Platforms Drive Wireless Testing Market
• North America was the largest region in the wireless testing market share in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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