Global Test and Measurement Equipment Market Report 2021-2026 | Industry Trends, Market Share, Size, Growth and Opportunities
According to the latest report by IMARC Group, titled "Test and Measurement Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global test and measurement equipment market reached a value of US$ 24.34 Billion in 2020 and expects the market to reach a value of US$ 30.09 Billion by 2026, exhibiting a CAGR of 3.70% during 2021-2026.
The global test and measurement equipment market is driven by the increasing penetration of digital devices across industries, along with the advancements in network infrastructure.Test and measurement equipment refer to numerous tools that play a crucial role in the delivery of product and service quality to customers. These tools are used to test, measure, analyze, display and record electronic data in order to ensure smooth operation and identify faults. They also enable the proper functioning of the equipment with the usage of oscilloscopes, digital multimeters, and signal generators. Additionally, they are employed to measure weight, length, pressure, current, voltage, and temperature in several industrial applications. As a result, they find extensive applications across the medical, automotive, telecommunication, energy, aerospace, defense and consumer electronic sectors.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Test and Measurement Equipment Market 2021-2026 Analysis and Segmentation:
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. and 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)
- Signal Generators
- Logic Analyzers
- Spectrum Analyzers
- Bert (Bit Error Rate Test)
- Network Analyzers
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
- Semiconductor and Electronics
Breakup by Region:
- United States
- South Korea
- United Kingdom
Middle East and Africa
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