HOME Top Market Reports Test and Measurement Equipment Market by Product (General Purpose Test Equipment and Mechanical Test Equipment), Service (Calibration Services, and Repair Services/After-Sales Services), Application, and Geography - Global Forecast to 2023

Test and Measurement Equipment Market by Product (General Purpose Test Equipment and Mechanical Test Equipment), Service (Calibration Services, and Repair Services/After-Sales Services), Application, and Geography - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: November 2017
Report Code: SE 4415

 

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The test and measurement equipment market was valued at USD 22.78 Billion in 2016 and is expected to reach USD 28.98 Billion by 2023, at a CAGR of 3.55% between 2017 and 2023. The base year used for this study is 2016, and the forecast period is between 2017 and 2023. This report provides a detailed analysis of the test and measurement equipment market on the basis of product, service, application, and geography.

Objectives of Study

  • To define, describe, and forecast the test and measurement equipment market, in terms of value, on the basis of product, service, application, and geography
  • To define, describe, and forecast the test and measurement equipment market, in terms of volume, on the basis of product
  • To forecast the market size for various segments, in terms of value, with regard to 4 main regions North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors influencing the growth of the test and measurement equipment market (drivers, restraints, opportunities, and challenges)
  • To analyze the micromarkets with respect to the individual growth trends, prospects, and contribution to the total market
  • To provide a detailed overview of the value chain of the test and measurement equipment market
  • To analyze the opportunities in the market for various stakeholders by identifying the high-growth segments of the test and measurement equipment market
  • To strategically profile the key players in the market and comprehensively analyze their market position in terms of the ranking and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze the strategic developments such as product developments and launches, partnership & collaborations, and mergers & acquisitions carried out in the test and measurement equipment market

The research methodology used to estimate and forecast the test and measurement equipment market begins with capturing data on key vendor revenues through secondary research. The secondary sources include associations such as British Measurement and Testing Association, Measurement, Control & Automation Association, Association for Progressive Communications, International Frequency Sensor Association (IFSA), Semiconductor Equipment and Materials International (SEMI, US), and MarketsandMarkets Analysis. Moreover, the vendor offerings have been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the size of the overall test and measurement equipment market from the revenue of the key players in this market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been verified through primary research by conducting extensive interviews with key experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primary respondents is depicted in the following figure.

Test and Measurement Equipment Market

To know about the assumptions considered for the study, download the pdf brochure

The test and measurement equipment market comprises players such as Fortive (US), Rohde & Schwarz (Germany), Anritsu (Japan), Keysight (US), Yokogawa Electric (Japan), National Instruments (US), EXFO (Canada), Advantest (Japan), Viavi (US), Cobham (UK), Teledyne (US), and Texas Instruments (US).

Target Audience:

  • Raw material and manufacturing equipment suppliers
  • Original equipment manufacturers (OEMs)
  • Research institutes
  • Market research and consulting firms
  • Forums, alliances, and associations
  • Technology investors
  • Governments and financial institutions
  • Analysts and strategic business planners
  • End users willing to know more about the technology and the latest technological developments in the test and measurement equipment industry

Test and Measurement Equipment Market Scope:

The test and measurement equipment market based on product, service, application, and geography has been covered in detail in this report. To provide a holistic picture, the current market demand and forecasts have also been included in the report. The market has been segmented as follows:

By Product

  • General Purpose Test Equipment
    • Oscilloscopes
    • Signal Generators
    • Digital Multimeters
    • Logic Analyzers
    • Spectrum Analyzers
    • Bit Error Rate Tester (BERT)
    • Network Analyzers
    • Power Meters
    • Electronic Counters
    • Modular Instrumentation (PXI/VXI-Based Instruments)
    • Automatic Test Equipment
  • Mechanical Test Equipment
    • Non-Destructive Test Equipment
    • Machine Vision Inspection
    • Machine Condition Monitoring

By Service

  • Calibration Services (Product, Process, Packages) 
  • Repair Services/After-Sales Services
  • Other Services
    • Asset Management
    • Consulting & Training Services
    • Climatic Product Testing
    • Environment Product Testing
    • Shock Testing
    • Other Extended Premium Plans

By Application

  • Automotive
  • Aerospace & Defense
  • IT & Telecommunications
  • Education & Government
  • Semiconductor & Electronics
  • Industrial
  • Healthcare (Medical & Pharmaceuticals)

By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Rest of Europe (RoE)
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • Rest of APAC (RoAPAC)
  • Rest of the World (RoW)
    • South America
    • Middle East & Africa

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company's specific needs. The following customization options are available for this report:

  • Market size for 2018, 2020, and 2022 for the product, service, application, and geography segments.
  • Company information: Detailed analysis and profiling of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Year Considered for the Study
    1.4 Currency and Pricing
    1.5 Package Size
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Sources
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions
    2.5 Limitations

3 Executive Summary  (Page No. - 27)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Opportunities in the Test and Measurement Equipment Market
    4.2 Test and Measurement Equipment Market, By Product Type
    4.3 Test and Measurement Equipment Market, By Service Type
    4.4 Test and Measurement Equipment Market, By End-Use Sector
    4.5 APAC: Test and Measurement Equipment Market
    4.6 Test and Measurement Equipment Market, By Country

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Value Chain Analysis
           5.2.1 Research & Development
           5.2.2 Manufacturing and Assembly
           5.2.3 Distribution and End Users
           5.2.4 Post-Sale Service
    5.3 Key Industry Trends
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Increase in the Adoption of Electronic Devices
                    5.4.1.2 Increased Penetration of Modular Instrumentation
                    5.4.1.3 Increasing Technological Advancement Towards Networking and Communication
                    5.4.1.4 Increased R&D Spending
           5.4.2 Restraint
                    5.4.2.1 Price Sensitivity of Test and Measurement Equipment
           5.4.3 Opportunities
                    5.4.3.1 Roll-Out of Lte and Lte-Advanced (4G) Network and Development of 5g Mobile Network
                    5.4.3.2 Commercialization of Internet of Things/Rapid Penetration of IoT Devices
           5.4.4 Challenges
                    5.4.4.1 Increased Penetration of Rental and Leasing Services
                    5.4.4.2 Matching Up With the Constantly Changing Technologies

6 Test and Measurement Equipment Market, By Product (Page No. - 46)
    6.1 Introduction
    6.2 General Purpose Test Equipment (GPTE)
           6.2.1 Oscilloscopes
           6.2.2 Signal Generators
           6.2.3 Digital Multimeters
           6.2.4 Logic Analyzers
           6.2.5 Spectrum Analyzers
           6.2.6 Bert (Bit Error Rate Test)
           6.2.7 Network Analyzers
           6.2.8 Power Meters
           6.2.9 Electronic Counters
           6.2.10 Modular Instrumentation
           6.2.11 Automated Test Equipment (ATE)
    6.3 Mechanical Test Equipment (MTE)
           6.3.1 Non-Destructive Test Equipment
           6.3.2 Machine Vision Inspection
           6.3.3 Machine Condition Monitoring

7 Test and Measurement Equipment Market, By Service Type (Page No. - 76)
    7.1 Introduction
    7.2 Calibration Services
    7.3 Repair Services/After-Sales Services
    7.4 Other Services

8 Test and Measurement Equipment Market, By End-Use Sector (Page No. - 81)
    8.1 Introduction
    8.2 Automotive
    8.3 Aerospace & Defense
    8.4 IT & Telecommunication
    8.5 Education & Government
    8.6 Semiconductor & Electronics
    8.7 Industrial
    8.8 Healthcare (Medical)

9 Test and Measurement Equipment Market, By Geography (Page No. - 95)
    9.1 Introduction
    9.2 North America
           9.2.1 US
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Germany
           9.3.2 France
           9.3.3 UK
           9.3.4 Rest of Europe
    9.4 Asia Pacific
           9.4.1 China
           9.4.2 Japan
           9.4.3 India
           9.4.4 Rest of APAC
    9.5 Rest of the World (RoW)
           9.5.1 Middle East & Africa
           9.5.2 South America

10 Competitive Landscape (Page No. - 116)
     10.1 Overview
     10.2 Market Ranking Analysis
     10.3 Competitive Scenario
             10.3.1 Product Launches & Developments
             10.3.2 Partnerships, Agreements, and Collaborations
             10.3.3 Mergers & Acquisitions

11 Company Profiles (Page No. - 122)
     11.1 Key Players
(Company at A Glance, Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
             11.1.1 Fortive
             11.1.2 Keysight
             11.1.3 Rohde & Schwarz
             11.1.4 Advantest
             11.1.5 National Instruments
             11.1.6 Anritsu
             11.1.7 Viavi
             11.1.8 Exfo
             11.1.9 Yokogawa Electric
             11.1.10 Cobham
             11.1.11 Teledyne
             11.1.12 Texas Instruments
*Details on Company at A Glance, Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
     11.2 Key Innovators
             11.2.1 Gw Instek
             11.2.2 Rigol
             11.2.3 Giga-Tronics
             11.2.4 B&K Precision
             11.2.5 Stanford Research Systems
     11.3 Other Important Players
             11.3.1 Ametek
             11.3.2 Adlink
             11.3.3 Leader Instruments
             11.3.4 Dynamicsignals
             11.3.5 Freedom Communication
             11.3.6 Vaunix
             11.3.7 DS Instruments
             11.3.8 Saluki

12 Appendix (Page No. - 168)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details


List of Tables (74 Tables)

Table 1 Test and Measurement Equipment Market for Product Type, 2015–2023
Table 2 Test and Measurement Equipment Market, By Component, 2015–2023 (USD Billion)
Table 3 Test and Measurement Equipment Market, By Product Type, 2015–2023
Table 4 Test and Measurement Equipment Market, By Product Type, 2015–2023 (USD Billion)
Table 5 General Purpose Test Equipment Market, By Type, 2015–2023 (USD Million)
Table 6 Test and Measurement Equipment Market for Oscilloscopes, By End-Use Sector, 2015–2023 (USD Million)
Table 7 Test and Measurement Equipment Market for Oscilloscopes, By Region, 2015–2023 (USD Million)
Table 8 Test and Measurement Equipment Market for Signal Generators, By End-Use Sector, 2015–2023 (USD Million)
Table 9 Test and Measurement Equipment Market for Signal Generators, By Region, 2015–2023 (USD Million)
Table 10 Test and Measurement Equipment Market for Digital Multimeters, By End-Use Sector, 2015–2023 (USD Million)
Table 11 Test and Measurement Equipment Market for Digital Multimeters, By Region, 2015–2023 (USD Million)
Table 12 Test and Measurement Equipment Market for Logic Analyzers, By End-Use Sector, 2015–2023 (USD Million)
Table 13 Test and Measurement Equipment Market for Logic Analyzers, By Region, 2015–2023 (USD Million)
Table 14 Test and Measurement Equipment Market for Spectrum Analyzer, By End-Use Sector, 2015–2023 (USD Million)
Table 15 Test and Measurement Equipment Market for Spectrum Analyzers, By Region, 2015–2023 (USD Million)
Table 16 Test and Measurement Equipment Market for Bert, By End-Use Sector, 2015–2023 (USD Million)
Table 17 Test and Measurement Equipment Market for Bert, By Region, 2015–2023 (USD Million)
Table 18 Test and Measurement Equipment Market for Network Analyzers, By End-Use Sector, 2015–2023 (USD Million)
Table 19 Test and Measurement Equipment Market for Network Analyzers, By Region, 2015–2023 (USD Million)
Table 20 Test and Measurement Equipment Market for Power Meters, By End-Use Sector, 2015–2023 (USD Million)
Table 21 Test and Measurement Equipment Market for Power Meters, By Region, 2015–2023 (USD Million)
Table 22 Test and Measurement Equipment Market for Electronic Counters, By End-Use Sector, 2015–2023 (USD Million)
Table 23 Test and Measurement Equipment Market for Electronic Counters, By Region, 2015–2023 (USD Million)
Table 24 Test and Measurement Equipment Market for Modular Instrumentation, By End-Use Sector, 2015–2023 (USD Million)
Table 25 Test and Measurement Equipment Market for Modular Instrumentation, By Region, 2015–2023 (USD Million)
Table 26 Test and Measurement Equipment Market for Automated Test Equipment, By End-Use Sector, 2015–2023 (USD Million)
Table 27 Test and Measurement Equipment Market for Automated Test Equipment, By Region, 2015–2023 (USD Million)
Table 28 Mechanical Test Equipment Market, By Type, 2015–2023 (USD Billion)
Table 29 Market for Non-Destructive Test Equipment, By End-Use Sector, 2015–2023 (USD Million)
Table 30 Market for Non-Destructive Test Equipment, By Region, 2015–2023 (USD Million)
Table 31 Test and Measurement Equipment Market for Machine Vision Inspection, By End-Use Sector, 2015–2023 (USD Million)
Table 32 Test and Measurement Equipment Market for Machine Vision Inspection, By Region, 2015–2023 (USD Million)
Table 33 Test and Measurement Equipment Market for Machine Condition Monitoring, By End-Use Sector, 2015–2023 (USD Million)
Table 34 Test and Measurement Equipment Market for Machine Condition Monitoring, By Region, 2015–2023 (USD Million)
Table 35 Test and Measurement Equipment Market, By Service Type, 2015–2023 (USD Million)
Table 36 Test and Measurement Equipment Market for Services, By End-Use Sector, 2015–2023 (USD Million)
Table 37 Test and Measurement Equipment Market for Services, By Region, 2015–2023 (USD Million)
Table 38 Test and Measurement Equipment Market, By End-Use Sector, 2015–2023 (USD Billion)
Table 39 Test and Measurement Equipment Market for Products By End-Use Sector, 2015–2023 (USD Billion)
Table 40 General Purpose Test Equipment Market for Automotive, By Type, 2015–2023 (USD Million)
Table 41 Mechanical Test Equipment Market for Automotive, By Type, 2015–2023 (USD Million)
Table 42 General Purpose Test Equipment Market for Aerospace & Defense, By Type, 2015–2023 (USD Million)
Table 43 Mechanical Test Equipment Market for Aerospace & Defense, By Type, 2015–2023 (USD Million)
Table 44 General Purpose Test Equipment Market for IT & Telecommunication, By Type, 2015–2023 (USD Million)
Table 45 General Purpose Test Equipment Market for Education & Government, By Type, 2015–2023 (USD Million)
Table 46 Mechanical Test Equipment Market for Education & Government, By Type, 2015–2023 (USD Million)
Table 47 General Purpose Test Equipment Market for Semiconductor & Electronics By Type, 2015–2023 (USD Million)
Table 48 Mechanical Test Equipment Market for Semiconductor & Electronics, By Type, 2015–2023 (USD Million)
Table 49 General Purpose Test Equipment Market for Industrial End-Use Sector, By Type, 2015–2023 (USD Million)
Table 50 Mechanical Test Equipment Market for Industrial End-Use Sector, By Type, 2015–2023 (USD Billion)
Table 51 General Purpose Test Equipment Market for Healthcare (Medical), By Type, 2015–2023 (USD Million)
Table 52 Mechanical Test Equipment Market for Healthcare (Medical), By Type, 2015–2023 (USD Million)
Table 53 Test and Measurement Equipment Market, By Region, 2015–2023 (USD Billion)
Table 54 Test and Measurement Equipment Market for Products, By Region, 2015–2023 (USD Billion)
Table 55 Test and Measurement Equipment Market in North America, By Country, 2015–2023 (USD Billion)
Table 56 Test and Measurement Equipment Market in North America, By Product Type, 2015–2023 (USD Billion)
Table 57 General Purpose Test Equipment Market in North America, By Type, 2015–2023 (USD Million)
Table 58 Mechanical Test Equipment Market in North America, By Type, 2015–2023 (USD Million)
Table 59 Test and Measurement Equipment Market in Europe, By Country, 2015–2023 (USD Billion)
Table 60 Test and Measurement Equipment Market in Europe, By Product Type, 2015–2023 (USD Billion)
Table 61 General Purpose Test Equipment Market in Europe, By Type, 2015–2023 (USD Million)
Table 62 Mechanical Test Equipment Market in Europe, By Type, 2015–2023 (USD Million)
Table 63 Test and Measurement Equipment Market in APAC, By Country, 2015–2023 (USD Billion)
Table 64 Test and Measurement Equipment Market in APAC, By Product Type, 2015–2023 (USD Billion)
Table 65 General Purpose Test Equipment Market in APAC, By Type, 2015–2023 (USD Million)
Table 66 Mechanical Test Equipment Market in APAC, By Type, 2015–2023 (USD Million)
Table 67 Test and Measurement Equipment Market in RoW, By Region, 2015–2023 (USD Billion)
Table 68 Test and Measurement Equipment Market in RoW, By Product Type, 2015–2023 (USD Billion)
Table 69 General Purpose Test Equipment Market in RoW, By Type, 2015–2023 (USD Million)
Table 70 Mechanical Test Equipment Market in RoW, By Type, 2015–2023 (USD Million)
Table 71 Market Ranking of Key Players in the Test and Measurement Equipment Market,2016
Table 72 Product Launches & Developments, 2015–2017
Table 73 Partnerships, Agreements, and Collaborations, 2015–2017
Table 74 Mergers & Acquisitions, 2016–2017


List of Figures (55 Figures)

Figure 1 Markets Covered
Figure 2 Research Flow
Figure 3 Research Design
Figure 4 Data Triangulation
Figure 5 Test and Measurement Equipment Market, By Product Type (2015–2023)
Figure 6 Market Snapshot, By General Purpose Test and Measurement Equipment Type (2017–2023)
Figure 7 Market Snapshot, By Mechanical Test and Measurement Equipment Type (2017 vs 2023)
Figure 8 Industrial Sector Expected to Be the Major Market Between 2017 and 2023
Figure 9 Market in APAC Expected to Grow at the Highest Rate During the Forecast Period
Figure 10 Highest Growth of the APAC Region is Expected to Offer Attractive Market Opportunities
Figure 11 General Purpose Test Equipment Expected to Hold Major Market Size Between 2017 and 2023
Figure 12 Repair Service/After-Sales Service Expected to Grow at the Highest Rate Between 2017 and 2023
Figure 13 Industrial Sector to Hold Major Market Size During the Forecast Period
Figure 14 China Held the Largest Share of the Test and Measurement Equipment Market in 2016
Figure 15 US Held the Largest Share of the Test and Measurement Equipment Market in 2016
Figure 16 Value Chain: Test and Measurement Equipment Market
Figure 17 Leading Trend in Test and Measurement Equipment Market
Figure 18 Market Dynamics
Figure 19 Major Equipment Considered Under the Test and Measurement Equipment Market
Figure 20 Automated Test Equipment Segment to Hold A Major Market Size of the GPTE Market During the Forecast Period
Figure 21 APAC to Witness Maximum Growth in the Test and Measurement Equipment Market for Signal Generators (2017–2023)
Figure 22 Spectrum Analyzers Segment for IT & Telecommunication to Hold A Major Market Size in the Test and Measurement Equipment Market (2017–2023)
Figure 23 North America to Hold Major Market Size in the Test and Measurement Equipment Market for Network Analyzers (2017–2023)
Figure 24 Automotive to Witness Maximum Growth in the Test and Measurement Equipment Market for Modular Instrumentation (2017–2023)
Figure 25 Market for Non-Destructive Test Equipment Projected to Grow at the Highest CAGR Between 2017 and 2023
Figure 26 Industrial End-Use Sector to Hold Major Market Size for Machine Condition Monitoring Between 2017 and 2023
Figure 27 Calibration Services Segment is Projected to Dominate the Test and Measurement Equipment Market Through 2023
Figure 28 Healthcare Segment Expected to Grow at the Highest Rate in the Test and Measurement Equipment Market During the Forecast Period
Figure 29 Modular Instrumentation Expected to Grow at the Highest Rate for IT & Telecommunication During the Forecast Period
Figure 30 Machine Vision Inspection Segment Expected to Hold A Major Share of the Industrial End-Use Sector
Figure 31 Geographic Snapshot: APAC to Emerge as A Key Growth Region for the Test and Measurement Equipment Market During the Forecast Period
Figure 32 North America: Test and Measurement Equipment Market Snapshot
Figure 33 The US is Projected to Dominate the Test and Measurement Equipment Market in North America Through 2023
Figure 34 Europe: Test and Measurement Equipment Market Snapshot
Figure 35 Modular Instrumentation Segment is Projected to Grow at the Highest CAGR in Europe Between 2017 and 2023
Figure 36 Asia Pacific: Test and Measurement Equipment Market Snapshot
Figure 37 Companies Adopted Product Launches & Developments as the Key Growth Strategies Between 2015 & 2017
Figure 38 Market Evolution Framework
Figure 39 Fortive: Company Snapshot
Figure 40 Fortive: SWOT Analysis
Figure 41 Keysight: Company Snapshot
Figure 42 Keysight: SWOT Analysis
Figure 43 Rohde & Schwarz: Company Snapshot
Figure 44 Rohde & Schwarz: SWOT Analysis
Figure 45 Advantest: Company Snapshot
Figure 46 Advantest: SWOT Analysis
Figure 47 National Instruments: Company Snapshot
Figure 48 National Instruments: SWOT Analysis
Figure 49 Anritsu: Company Snapshot
Figure 50 Viavi: Company Snapshot
Figure 51 Exfo: Company Snapshot
Figure 52 Yokogawa Electric: Company Snapshot
Figure 53 Cobham: Company Snapshot
Figure 54 Teledyne: Company Snapshot
Figure 55 Texas Instruments: Company Snapshot

According to MarketsandMarkets forecast, the test and measurement equipment market is expected to reach USD 28.98 Billion by 2023 from USD 23.51 Billion in 2017, at a CAGR of 3.55% during the forecast period. The growth of this market is fueled by the development increase in the adoption of electronic devices, increased penetration of modular instrumentation, and increasing technological advancement towards networking and communication.

This report covers the test and measurement equipment market segmented on the basis of product, service, application, and geography. In terms of products, mechanical test equipment is expected to hold the largest share of the test and measurement equipment market between 2017 and 2023. Machine vision inspection systems are the most widely used mechanical test equipment.

The general-purpose test equipment holds a larger size of the market based on product than that of mechanical test equipment in 2016; this is mainly attributed to the increasing opportunities in the consumer electronics sector related to smartphones and growing advancements in the IT and telecom sector. Moreover, the developments related to the 5G network are likely to have a positive impact on the growth of the overall market for general purpose test equipment. The major market for general-purpose test equipment is covered by the automated test equipment oscilloscopes.

The industrial application is expected to hold a major share of the test and measurement market during the forecast period. Test and measurement equipment are used at different stages of the product life cycle, such as design and development. Different types of testing are frequently conducted across all stages of the product life cycle in the overall industrial segment. Therefore, the industrial application is estimated to hold a maximum share of test and measurement equipment market.

Test and Measurement Equipment Market

APAC is expected to hold a major share of the test and measurement equipment market between 2017 and 2023. The speedy growth of the automotive, and IT and communications sectors in APAC is one of the key factors driving the growth of the test and measurement equipment market in this region. The governments of Asian countries, such as Japan, China, and India, are taking initiatives to prompt various industries to set up manufacturing and R&D facilities in these countries. Also, this region mainly consists of developing economies such as China and India, which hold large opportunity for the growth of the test and measurement equipment market for various applications.

One of the major restraints for the studied market is price sensitivity of test and measurement equipment. The companies that are profiled in the report are Fortive (US), Rohde & Schwarz (Germany), Anritsu (Japan), Keysight (US), Yokogawa Electric (Japan), National Instruments (US), EXFO (Canada), Advantest (Japan), Viavi (US), Cobham (UK), Teledyne (US) and Texas Instruments (US).

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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