The [FURL=https://www.industryarc.com/Report/15458/test-and-measurement-market.html]Test and Measurement Equipment Market [/FURL] is forecast to reach $33 billion by 2025 and is estimated to grow at a CAGR of 4.05% during the forecast period 2019-2025. The ongoing digital transformation in automotive industry is boosting the retrofitting of devices and equipment embedded with a wide range of test and measurement equipment such as electrical tester, digital multi-meters, digital oscilloscope, spectrum analyzer, and environmental testers. Data centres, advanced telecom infrastructure, and automotive are some major end-use applications that require advanced measuring equipment to meet modern testing requirement. Key Takeaways
Modern electronic devices in automobiles are boosting the need of RF testing equipment (Radio Frequency testing equipment) significantly.
APAC holds the majority market share owing to large demand from telecom and automotive industry.
Changing landscape of communication infrastructure and digital transformation in various industries is uplifting the test and measurement equipment market.
Test and measurement market is fragmented however major vendors are looking forward to consolidate the market through merger and acquisition.
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Test and Measurement Market Segment Analysis - By Geography
The Asia Pacific is the largest region for the test and measurement market due to presence of strong manufacturing base. Most of the demand from APAC region is experienced from China India, Taiwan, and Japan due to growth in electronics and automotive industry. China’s National Bureau of Statistics estimated the sale of consumer goods up by 9.2% in 2018 than the previous, which values up to approximately $1,436.8 billion. Similarly, within APAC, India started producing wide range of electronic products under major standards with latest government initiatives such as T&M India 2020.
Test and Measurement Market - Drivers
Development of communication infrastructure coupled with rising popularity of IoT based technology:
Increasing demand from power management and consumer electronics application:
Market Landscape
The major players in the test and measurement market include Bureau Veritas, Danaher, Keysight, SGS, Thermo Fisher, Texas Instruments Incorporated, XSENSOR Technology and other. Thus, major vendors are looking forward to consolidate this market through merger and acquisition. While expertise and economy of scale is the key strength for major vendors, small vendors will optimize the supply chain to reduce the operational cost.
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