The test and measurement equipment market is not just growing; it is accelerating. Increasing adoption of electronic devices and increased penetration of modular instrumentation are some of the major factors driving the market of test and measurement equipment. Also, high expense on research and development and increasing commercialization of the internet of things are other factors responsible for driving the growth of Test and Measurement Equipment Market in the coming years.
Fortive, Rohde & Schwarz, Anritsu Corporation, Keysight Technologies, Yokogawa Electric Corporation, National Instruments Corporation, Teledyne Technologies, Inc. and Texas Instruments Inc. are a few major players in the global test and measurement equipment market. Increasing adoption of test and measurement equipment solutions in IT & telecommunications and automotive industries is fueling the market growth. This is owing to the advancements in technology towards networking and communication.
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The product segment comprises of mechanical test equipment and general-purpose test equipment. However, general-purpose test equipment sub-segment is expected to hold the largest market share of the global test and measurement equipment market. The general-purpose test equipment sub-segment is further classified into oscilloscopes, signal generator, digital multimeter, logic analyzer, spectrum analyzer, network analyzer, power meter, electronic counter, modular instrumentation and automatic test equipment. This is owing to the increasing demand for test and measurement equipment for industrial applications. The growth of general purpose test equipment is attributed to the increasing demand for smartphones in the consumer electronics segment.
The Asia Pacific region holds the largest share of the market across the globe followed by North America, and Europe region. The China, Japan, and India are dominating the Asia Pacific market due to rising technological enhancements and growing adoption of test and measurement equipment solutions in the region. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of test and measurement equipment solutions across different industrial applications is another major factor driving the growth of the test and measurement equipment market in the region.
The global test and measurement equipment market is expected to grow at a CAGR of approximately 4% during the forecast period 2017-2023.
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.
The global test and measurement equipment market is segmented by product, service, and application. Based on the product, the market is segmented into mechanical test equipment and general purposes test equipment. The mechanical test equipment segment is further classified into machine vision inspection, machine condition monitoring, and non-destructive test equipment. Whereas, the general-purpose test equipment sub-segment is further classified into oscilloscopes, signal generator, digital multimeter, logic analyzer, spectrum analyzer, network analyzer, power meter, electronic counter, modular instrumentation, and automatic test equipment. Based on the service, the market is segmented into after-sales services, calibration services, and others. The other services include asset management, climatic product testing, training & consulting, and shock testing. Whereas, based on application, the market is segmented into automotive, aerospace & defense, electronics & semiconductors, industrial, education, IT & telecommunication and healthcare.
The global test and measurement equipment market is studied in Asia Pacific, North America, Europe, and the Rest of the World. Asia Pacific is estimated to account for the largest share of the market, whereas North America is projected to grow at the fastest rate during the forecast period. The growth of the market in Asia Pacific is attributed to technological advancements and increased adoption of test and measurement equipment solutions across various industry verticals.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of Global Test And Measurement Equipment Market
5 Industry Overview Of Global Test And Measurement Equipment Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
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