Test and Measurement Equipment Market

Test and Measurement Equipment Market Size, Share, Statistics and Industry Growth Analysis Report by Product Type (General-purpose Test Equipment and Mechanical Test Equipment), Service Type (Calibration Services and Repair/After-sales Services), Vertical and Region - Global Forecast to 2028

Report Code: SE 4415 May, 2023, by marketsandmarkets.com

The global test and measurement (t&m) equipment market size is expected to reach USD 42.9 billion by 2028 from USD 34.3 billion in 2023, at a CAGR of 4.6% during the 2023–2028 period. Various types of test and measurement equipment are utilized to analyze, validate, and verify measurements of electronic and mechanical systems. These instruments generate signals and capture responses from electronic devices under test (DUTs). Their purpose is to assess the efficacy of operational processes and aid manufacturers in monitoring and enhancing the quality, safety, and productivity of their products. The two main categories of such equipment are general-purpose test equipment (GPTE) (including oscilloscopes, signal generators, arbitrary waveform generators, digital multimeters, logic analyzers, power meters, power supplies, and modular instruments) and mechanical test equipment (MTE) (encompassing non-destructive test equipment, machine vision inspection systems, and machine condition monitoring systems). In terms of market growth, the healthcare and IT & telecommunications sectors are projected to make the most significant contributions in the vertical segment. The test and measurement equipment industry is divided into products and services, creating a fragmented overall market.

Test and Measurement Equipment market

Test and Measurement Equipment market

Test and Measurement Equipment market Forecast to 2028

To know about the assumptions considered for the study, Request for Free Sample Report

Test and Measurement Equipment Market Dynamics

T&M Market Driver: Increased need for interoperability testing owing to growing deployment of IoT and connected devices

The rising adoption of connected technologies to increase production and improve manufacturing efficiency and the growing need to assess and test the Internet of Things (IoT)-enabled products to ensure data and product security boost testing, inspection, and certification market growth. Although manufacturers can increase their profit margins by deploying IoT and connected devices, they present many challenges and risks to manufacturers and developers. As data breaches continue to grab headlines, manufacturers are focused on safeguarding connected devices and user data. With rapid technological advances, the industry has responded to cybersecurity concerns by following necessary standards and regulations such as ANSI/UL 2900, IEC 62443, the National Institute of Standards and Technology (NIST) Cybersecurity Framework. Despite the pandemic, the market for connected devices continues to grow. In 2020, for the first time, the market witnessed the increased deployment of connected IoT devices (e.g., connected cars, smart home devices, and connected industrial equipment) than non-IoT devices (smartphones, laptops, and computers). Personal IoT devices, including fitness wearables, have become pervasive in the last two years and are likely to be increasingly adopted by the remaining population in the coming years. Smart devices facilitate data exchange. Testing is instrumental in ensuring that these devices remain connected securely and perform efficiently. In a connected world, global companies need to organize their quality assurance and testing functions using a combination of centralized and decentralized approaches. A testing team is vital for complex integrations and transformations in product development processes.

T&M Market Restraint: Strong inclination of customers toward adoption of test and measurement equipment on rental basis

Technological advancements boost the demand for test and measurement equipment in end-user industries. This ratio is increasing because the adoption of test and measurement equipment on rental basis is more profitable to the customers whereas it is a restraint to the producing firms. Mostly companies with less capital go for rented test and measurement equipment. The unavailability of our own equipment, facing challenges towards repair, calibration, and unexpected peak in testing workload are the main reasons for the customers renting the equipment. However, new test and measurement equipment are typically expensive. To reduce their operational costs, several organizations across industries, including aerospace & defense, communications, automotive, and electronics, often take testing and measurement equipment on a rental basis, which is a cost-saving approach rather than buying new testing and measurement equipment.

T&M Market Opportunity: Growing adoption of breakthrough technologies by consumers worldwide

Technological advancements are rapidly reshaping various industries, including healthcare, at an unprecedented pace. Notably, significant progress is witnessed in the healthcare sector. The utilization of wearable devices like smartwatches enables the collection of data, enabling the prediction and proactive treatment of health conditions in individuals, even before symptoms manifest. This approach, known as precision medicine, empowers physicians to prescribe medications and administer treatments with greater accuracy and specificity to their patients. This has been possible because of the innovations in the fields of genomics and AI; such technological advances help understand how diverse people’s bodies are healthier or inferior to fight against specific ailments, as well as how they are likely to react to different types of medications or treatments.

Similarly, electric vehicles (EVs) are one of the leading technologies worldwide. (EV testing goes way beyond homologation testing for vehicles and their components. It also covers the charging interfaces and associated systems that enable EVs, charging stations, and back-office systems to communicate with one another, known as interoperability or conformance testing. With the increase in the adoption of EVs worldwide, the demand for battery performance and safety testing, electric motor testing, vehicle performance testing, charger testing and certification, etc., is likely to rise significantly.

T&M Market Challenge: Calibration, irregularity, and complexity issues in antenna arrays

Currently technological environment antennas play a wide role. The reliability and quality of antenna performance is essential for innovative embedding antennas. The success of production quality and time control relies on fast and accurate antenna measurements. 

The growing acceptance of multiple-input and multiple-output (MIMO) in 5G New Radio (NR) technology is anticipated to drive the expanded usage of test and measurement equipment for evaluating the performance of radiation patterns in the device under test (DUT). In this context, antenna arrays are employed to achieve high antenna gain through beamforming, which compensates for the free space path loss inherent in high-frequency 5G systems. Beamforming involves the utilization of multiple antenna components in antenna arrays to achieve directional characteristics, aiding in the reduction of energy consumption in electronic devices.

Test and measurement equipment Market Ecosystem

The prominent players in the test and measurement equipment market share are Fortive (US), National Instruments (US), Keysight Technologies (US), Teledyne Technologies (US), and Rohde & Schwarz (Germany). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.

Test and Measurement Equipment Market by Ecosystem

The GPTE product type is projected to hold the larger market share of the test and measurement equipment market during the forecast period

GPTE (general-purpose test equipment) are expected to hold a larger market share during the forecast period primarily due to the growing adoption of the 5G network, which would drive the demand for GPTE. General-purpose test equipment (GPTE) uses devices that help in measuring the electronic parameters of devices such as voltage, frequency, watts, and other diagnostic features. The PG3 Digital Pattern Generator Series is an important general-purpose tool which is used to stimulate designs. It gives flexibility and expandability to its wide range of applications.

Most test and measurement (t&m) equipment offer high bandwidth, more accuracy, and higher resolution than those in the earlier ones. Some prominent verticals in which such equipment are used include IT & telecommunications, healthcare, automotive, and industrial.

Healthcare vertical is expected to grow at the highest CAGR in the test and measurement equipment market during the forecast period

There is a significant growth potential for test and measurement equipment in the healthcare vertical with the rapid development of new medical devices, patient monitoring systems, and personal emergency reporting systems. Many current and emerging technologies have been incorporated into the healthcare industry for a variety of applications. Medical device and test system failure or performance decline might have serious repercussions which is expected to increase the demand of market in this vertical.

Asia Pacific is projected to grow at the highest CAGR of the test and measurement equipment market size by 2028

The country is becoming a new hub for companies from all over the world which in turn increases the demand for test and measurement equipment in the country. There are many test and measurement manufacturers in India such as MEXTECH, Rishabh Instruments, Meco Instruments, Fluke Corporation, Rohde & Schwarz India Pvt Ltd, Microtek Instrument, Metro Electronic, Anritsu Corporation, Aplab Ltd and Tektronics. The Indian government is all ready to accept Micron Technology's investment request for USD 1 billion to build an ATMP plant in India. The fifth-largest semiconductor manufacturer in the world, Micron Technology is headquartered in Idaho, USA. The company operates 11 production facilities in the US, China, Japan, Taiwan, Malaysia, and Singapore. During the Commercial Dialogue March 2023, India and the US inked an MoU of partnership aims to create a collaboration framework between the two governments on supply chain resiliency and diversity for semiconductors.

Test and Measurement Equipment Market by Region

Test and Measurement Equipment Market Statistics by Region

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

Key T&M Market Players

The major players in the test and measurement equipment Companies include Yokogawa Electric (Japan), Keysight Technologies (US), Rohde & Schwarz (Germany), Fortive (US), Anritsu (Japan), Advantest (Japan), National Instruments (US), EXFO (Canada), VIAVI Solutions (US), OWON Technology (China), Teledyne Technologies (US), GW Instek (Taiwan), AMETEK (US), ADLINK Technology (Taiwan), Leader Instruments (US), RIGOL Technologies (China), Dynamic Signal (US), Astronics Test Systems (US), Vaunix (US), DS Instruments (US), Saluki (Taiwan), IKM Instrutek (Norway), Uni-Trend Technology (China), Particle Measuring Systems (US), and Mextech Technologies (India). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the market.

Get online access to the report on the World's First Market Intelligence Cloud

  • Easy to Download Historical Data & Forecast Numbers
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
Request Sample

Scope of the Report

Report Metric

Details

Estimated T&M Market Size

USD 34.3  billion

Expected T&M Market Size

USD 42.9 billion

Growth Rate

CAGR of 4.6%

Market Size Available for Years

2019–2028

Base Year

2022

Forecast Period

2023–2028

Units

Value (USD Million/USD Billion)

Segments Covered

  • By Product Type
  • By Service Type
  • By Vertical and
  • By Region

Regions Covered

  • North America,
  • Europe,
  • Asia Pacific, and
  • RoW

T&M Market Leaders

The major players in the test and measurement equipment market are Yokogawa Electric (Japan), Rohde & Schwarz (Germany), Anritsu (Japan), Advantest (Japan), EXFO (Canada), OWON Technology (China), GW Instek (Taiwan), ADLINK Technology (Taiwan), RIGOL Technologies (China), Saluki (Taiwan), IKM Instrutek (Norway), Uni-Trend Technology (China), and Mextech Technologies (India)

Top Companies in North America

Keysight Technologies (US), Fortive (US), National Instruments (US), VIAVI Solutions (US), Teledyne Technologies (US), AMETEK (US), Leader Instruments (US), Dynamic Signal (US), Astronics Test Systems (US), Vaunix (US), DS Instruments (US), Particle Measuring Systems (US)

Key Market Driver

Increased need for interoperability testing owing to growing deployment of IoT and connected devices

Key Market Opportunity

Growing adoption of breakthrough technologies by consumers worldwide

Largest Growing Region

 Asia Pacific

Highest CAGR Segment

 Healthcare Vertical

Test and Measurement Equipment Market Highlights

The study segments the Test and measurement equipment market based on instrument, sampling technique,  application, and region at the regional and global level.

Segment

Subsegment

T&M Market By Product Type

  • GPTE
  • MTE

By Service Type

  • Calibration Services
  • Repair/After-sales Services

By Vertical

  • Automotive & Transportation
  • Aerospace & Defense
  • IT & Telecommunication
  • Education & Government
  • Industrial
  • Healthcare
  • Semiconductor & Electronics

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Recent Developments

  • In January 2023, Keysight Technologies introduced the Electrical Performance Scan (EP-Scan), a new high-speed digital simulation tool that supports rapid signal integrity (SI) analysis for hardware engineers and printed circuit board (PCB) designers.
  • In January 2023, Rohde & Schwarz has unveiled Benchmarker 3, a new solution aimed at driving the evolution of network benchmarking. This advanced benchmarking solution empowers mobile network operators (MNOs) to effectively address the growing challenges posed by technological advancements, cost constraints, time limitations, and competitive pressures in the industry.
  • In November 2022, AVL and Rohde & Schwarz have joined forces to streamline and expedite electromagnetic compatibility (EMC) tests conducted in realistic driving scenarios. In order to simplify and accelerate the development process, AVL and Rohde & Schwarz have introduced an innovative solution for automated EMC data analysis, specifically designed for electric drivetrains being tested under real-world driving conditions.
  • In October 2021,  National Instruments announced the acquisition of NH Research, LLC, a company in high power test and measurement applications such as electric vehicles (EV) and batteries.
  • In August 2021, Keysight Technologies has introduced the latest addition to its lineup, the Keysight Nemo 5G RAN Analytics software. This advanced software solution operates in the cloud and offers full automation, enhancing the efficiency of data processing, reporting, and analytics. It enables swift analysis of a mobile operator's 5G radio access network (RAN) performance, facilitating rapid decision-making and optimization.

Frequently Asked Questions (FAQ):

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

TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 31)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 TEST AND MEASUREMENT EQUIPMENT MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 UNIT CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
           1.8.1 IMPACT OF RECESSION
 
2 RESEARCH METHODOLOGY (Page No. - 36)
    2.1 RESEARCH DATA 
           FIGURE 2 TEST AND MEASUREMENT (T&M) EQUIPMENT MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
                    2.1.1.2 Key secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Key participants across test and measurement equipment value chain
                    2.1.2.3 Breakdown of primary interviews
                    2.1.2.4 Key industry insights
           2.1.3 SECONDARY AND PRIMARY RESEARCH
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED BY KEY PLAYERS IN MARKET
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 2 (SUPPLY SIDE): ILLUSTRATION OF REVENUE ESTIMATION OF KEY PLAYERS IN MARKET
           FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 3 (DEMAND SIDE): TEST AND MEASUREMENT EQUIPMENT MARKET BASED ON REGION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach to derive market size using bottom-up analysis
                               FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach to derive market size using top-down analysis
                               FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.3 MARKET SIZE ESTIMATION 
    2.4 DATA TRIANGULATION 
           FIGURE 8 DATA TRIANGULATION
    2.5 RISK ASSESSMENT 
           TABLE 1 RISK FACTOR ANALYSIS
           2.5.1 RECESSION IMPACT
    2.6 RESEARCH ASSUMPTIONS AND LIMITATIONS 
           2.6.1 ASSUMPTIONS
           2.6.2 LIMITATIONS
 
3 EXECUTIVE SUMMARY (Page No. - 51)
    3.1 TEST AND MEASUREMENT  (T&M) EQUIPMENT MARKET: RECESSION IMPACT 
           FIGURE 9 IMPACT OF RECESSION
           FIGURE 10 CALIBRATION SERVICES SEGMENT TO HOLD LARGEST SHARE OF MARKET IN 2023
           FIGURE 11 GENERAL-PURPOSE TEST EQUIPMENT TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
           FIGURE 12 INDUSTRIAL VERTICAL TO DOMINATE MARKET DURING FORECAST PERIOD
           FIGURE 13 ASIA PACIFIC HELD LARGEST MARKET SHARE OF MARKET IN 2022
 
4 PREMIUM INSIGHTS (Page No. - 56)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN  T&M MARKET 
           FIGURE 14 INCREASED DEMAND FOR IMPROVED MEDICAL DEVICES TO DRIVE TEST AND MEASUREMENT EQUIPMENT MARKET
    4.2 ASIA PACIFIC MARKET, BY PRODUCT TYPE AND COUNTRY 
           FIGURE 15 GPTE SEGMENT AND CHINA HELD LARGEST SHARES OF ASIA PACIFIC MARKET IN 2022
    4.3 TEST AND MEASUREMENT EQUIPMENT MARKET, BY PRODUCT TYPE 
           FIGURE 16 GENERAL-PURPOSE TEST EQUIPMENT (GPTE) SEGMENT TO DOMINATE MARKET FROM 2023 TO 2028
    4.4 TEST AND MEASUREMENT EQUIPMENT MARKET, BY GPTE 
           FIGURE 17 POWER METERS SEGMENT TO REGISTER HIGHEST CAGR IN MARKET FOR GPTE FROM 2023 TO 2028
    4.5 TEST AND MEASUREMENT EQUIPMENT MARKET, BY SERVICE TYPE 
           FIGURE 18 CALIBRATION SERVICES SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.6 TEST AND MEASUREMENT EQUIPMENT MARKET, BY COUNTRY 
           FIGURE 19 INDIA TO RECORD HIGHEST CAGR IN MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 60)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 20 TEST AND MEASUREMENT EQUIPMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Growing adoption of electronic devices
                    5.2.1.2 Increasing demand for modular instruments
                    5.2.1.3 Surging deployment of advanced networking and communication technologies
                    5.2.1.4 Rising demand for high-performance and power-efficient electronic devices
                    5.2.1.5 Increased need for interoperability testing owing to growing deployment of IoT and connected devices
                    5.2.1.6 Strict regulatory standards imposed by governments to ensure product safety and environmental protection
                               FIGURE 21 TEST AND MEASUREMENT EQUIPMENT MARKET DRIVERS: IMPACT ANALYSIS
           5.2.2 RESTRAINTS
                    5.2.2.1 High installation and ownership costs and requirement for skilled professionals
                    5.2.2.2 Adoption of test and measurement equipment on rental basis
                               FIGURE 22 MARKET RESTRAINTS: IMPACT ANALYSIS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Advent of 5G technology and deployment of LTE and LTE-Advanced (4G) networks
                    5.2.3.2 Penetration of IoT devices
                    5.2.3.3 Growing adoption of breakthrough technologies worldwide
                               FIGURE 23 MARKET OPPORTUNITIES: IMPACT ANALYSIS
           5.2.4 CHALLENGES
                    5.2.4.1 Difficulties faced by vendors in keeping up with constantly changing technologies
                    5.2.4.2 Calibration issues, irregularity, and complexity issues in antenna arrays
                               FIGURE 24 MARKET CHALLENGES: IMPACT ANALYSIS
    5.3 VALUE CHAIN ANALYSIS 
           FIGURE 25 VALUE CHAIN ANALYSIS: TEST AND MEASUREMENT EQUIPMENT MARKET
           5.3.1 RESEARCH AND DEVELOPMENT ENGINEERS
           5.3.2 PRODUCT MANUFACTURERS AND SYSTEM INTEGRATORS
           5.3.3 VERTICALS AND MARKETING & SALES
    5.4 REVENUE SHIFT AND NEW REVENUE POCKETS FOR MARKET PLAYERS 
           FIGURE 26 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN  T&M MARKET
    5.5  T&M MARKET MAP/MARKET ECOSYSTEM 
           TABLE 2 MARKET ECOSYSTEM
           FIGURE 27 KEY PLAYERS IN TEST AND MEASUREMENT EQUIPMENT MARKET
    5.6 PRICE TREND ANALYSIS 
           FIGURE 28 ASP TRENDS OF OSCILLOSCOPES, SPECTRUM ANALYZERS, NETWORK ANALYZERS, AND SIGNAL GENERATORS
           5.6.1 AVERAGE SELLING PRICE OF PRODUCTS OFFERED BY KEY PLAYERS
                    FIGURE 29 AVERAGE SELLING PRICE OF 3 PRODUCTS OFFERED BY 3 KEY PLAYERS
                    TABLE 3 AVERAGE SELLING PRICE OF 3 PRODUCTS BY 3 KEY PLAYERS
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 COMMERCIALIZATION OF IOT TECHNOLOGY
           5.7.2 INCLINATION TOWARD ADOPTION OF TEST AND MEASUREMENT EQUIPMENT ON RENTAL BASIS
           5.7.3 TREND OF MODULAR TEST INSTRUMENTS
           5.7.4 EMERGENCE OF 5G NETWORK
    5.8 PORTER’S FIVE FORCES ANALYSIS 
           FIGURE 30 PORTER’S FIVE FORCES ANALYSIS
           TABLE 4 PORTER’S FIVE FORCES ANALYSIS WITH THEIR IMPACT
           5.8.1 THREAT OF NEW ENTRANTS
           5.8.2 THREAT OF SUBSTITUTES
           5.8.3 BARGAINING POWER OF SUPPLIERS
           5.8.4 BARGAINING POWER OF BUYERS
           5.8.5 INTENSITY OF COMPETITIVE RIVALRY
    5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 31 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS
                    TABLE 5 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS (%)
           5.9.2 BUYING CRITERIA
                    TABLE 6 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
    5.10 CASE STUDY ANALYSIS 
           5.10.1 TEST AND MEASUREMENT EQUIPMENT FOR ANTENNA MODULE MANUFACTURER
                    TABLE 7 KEYSIGHT HELPED ACCELERATE 5G MM WAVE DEVELOPMENT
           5.10.2 TEST AND MEASUREMENT EQUIPMENT FOR SEMICONDUCTORS AND ELECTRONICS
                    TABLE 8 KEYSIGHT NOISE ANALYZER IMPLEMENTS SAMSUNG FOUNDRY
           5.10.3 TEST AND MEASUREMENT EQUIPMENT FOR TELECOMMUNICATIONS
                    TABLE 9 CONVERGE ICT SOLUTIONS USE EXFO OX1 TO FIX FIBER FAULTS
    5.11 TRADE ANALYSIS 
           FIGURE 32 COUNTRY-WISE EXPORT DATA FOR PRODUCTS CLASSIFIED UNDER HS CODE 9030, 2017–2021
           TABLE 10 EXPORT SCENARIO FOR HS CODE 9030-COMPLIANT PRODUCTS, BY COUNTRY, 2017–2021 (USD THOUSAND)
           FIGURE 33 COUNTRY-WISE IMPORT DATA FOR PRODUCTS CLASSIFIED UNDER HS CODE 9030, 2017–2021
           TABLE 11 IMPORT SCENARIO FOR HS CODE 9030-COMPLIANT PRODUCTS, BY COUNTRY, 2017–2021 (USD THOUSAND)
    5.12 PATENT ANALYSIS 
           5.12.1 DOCUMENT TYPE
                    TABLE 12 PATENTS FILED
                    FIGURE 34 PATENTS FILED FROM 2013 TO 2022
           5.12.2 PUBLICATION TREND
                    FIGURE 35 NO. OF PATENTS FILED EACH YEAR FROM 2013 TO 2022
           5.12.3 JURISDICTION ANALYSIS
                    FIGURE 36 JURISDICTION ANALYSIS
           5.12.4 TOP PATENT OWNERS
                    FIGURE 37 TOP 10  T&M COMPANIES IN TERMS OF PUBLISHED PATENT APPLICATIONS FROM 2013 TO 2022
                    TABLE 13 TOP 20 PUBLISHED PATENT OWNERS IN LAST 10 YEARS
    5.13 KEY EVENTS AND CONFERENCES, 2023 
           TABLE 14 KEY EVENTS AND CONFERENCES, BY REGION (2023)
    5.14 REGULATORY LANDSCAPE 
           TABLE 15 TEST AND MEASUREMENT EQUIPMENT MARKET: REGULATORY LANDSCAPE
           5.14.1 REGION-WISE REGULATORY ANALYSIS
                    TABLE 16 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 17 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 18 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 19 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.14.2 GOVERNMENT REGULATIONS
                    5.14.2.1 Canada
                    5.14.2.2 US
                    5.14.2.3 Europe
                    5.14.2.4 Asia Pacific
 
6 TEST AND MEASUREMENT EQUIPMENT MARKET, BY PRODUCT TYPE (Page No. - 93)
    6.1 INTRODUCTION 
           FIGURE 38 GPTE SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
           TABLE 20 TEST AND MEASUREMENT EQUIPMENT MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
           TABLE 21 MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
           TABLE 22 PRODUCT TYPE:  T&M MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
           TABLE 23 PRODUCT TYPE: T&M MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
           TABLE 24 PRODUCT TYPE: T&M MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 25 PRODUCT TYPE: T&M MARKET, BY REGION, 2023–2028 (USD MILLION)
    6.2 GENERAL-PURPOSE TEST EQUIPMENT 
           FIGURE 39 AUTOMATED TEST EQUIPMENT SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
           TABLE 26 T&M MARKET, BY GENERAL-PURPOSE TEST EQUIPMENT, 2019–2022 (USD MILLION)
           TABLE 27 T&M MARKET, BY GENERAL-PURPOSE TEST EQUIPMENT, 2023–2028 (USD MILLION)
           TABLE 28 T&M MARKET, BY GENERAL-PURPOSE TEST EQUIPMENT, 2019–2022 (THOUSAND UNITS)
           TABLE 29 T&M MARKET, BY GENERAL-PURPOSE TEST EQUIPMENT, 2023–2028 (THOUSAND UNITS)
           TABLE 30 GPTE: MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
           TABLE 31 GPTE: MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
           TABLE 32 GPTE: MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 33 GPTE: MARKET, BY REGION, 2023–2028 (USD MILLION)
           6.2.1 OSCILLOSCOPES
                    6.2.1.1 Wide use of oscilloscopes to carry out high-speed testing
           6.2.2 SIGNAL GENERATORS
                    6.2.2.1 Increased demand for signal generators in different verticals
           6.2.3 MULTIMETERS
                    6.2.3.1 High adoption of multimeters for high accuracy
           6.2.4 LOGIC ANALYZERS
                    6.2.4.1 Greater reliance on logic analyzers to debug digital hardware and embedded software
           6.2.5 SPECTRUM ANALYZERS
                    6.2.5.1 Deployment of spectrum analyzers to measure critical parameters for communication
           6.2.6 BERT
                    6.2.6.1 Rising implementation of BERT solutions to test digital communication circuits
           6.2.7 NETWORK ANALYZERS
                    6.2.7.1 Effective use of network analyzers in R&D and production stages
           6.2.8 POWER METERS
                    6.2.8.1 Surge in demand for power meters for testing output power in IT & telecommunications
           6.2.9 ELECTRONIC COUNTERS
                    6.2.9.1 High adoption of electronic counters to display batch counting, numeric positioning, and coil winds
           6.2.10 MODULAR INSTRUMENTS
                    6.2.10.1 Technology convergence and device complexity to drive need for modular architecture
           6.2.11 AUTOMATED TEST EQUIPMENT (ATE)
                    6.2.11.1 High utilization of automated test equipment to reduce manufacturing time
           6.2.12 POWER SUPPLIES
                    6.2.12.1 Increased need to control higher degree of load to create demand for power supplies
    6.3 MECHANICAL TEST EQUIPMENT (MTE) 
           FIGURE 40 NON-DESTRUCTIVE TEST EQUIPMENT SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 34 T&M MARKET, BY MECHANICAL TEST EQUIPMENT, 2019–2022 (USD MILLION)
           TABLE 35 T&M MARKET, BY MECHANICAL TEST EQUIPMENT, 2023–2028 (USD MILLION)
           TABLE 36 MTE: T&M MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
           TABLE 37 MTE: T&M MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
           TABLE 38 MTE: T&M MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 39 MTE: T&M MARKET, BY REGION, 2023–2028 (USD MILLION)
           6.3.1 NON-DESTRUCTIVE TEST EQUIPMENT
                    6.3.1.1 Mature market for non-destructive test equipment in industrial sector
           6.3.2 MACHINE VISION INSPECTION SYSTEMS
                    6.3.2.1 Use of machine vision primarily in manufacturing and quality control
           6.3.3 MACHINE CONDITION MONITORING SYSTEMS
                    6.3.3.1 Importance of machine condition monitoring systems in predictive maintenance programs
 
7 TEST AND MEASUREMENT EQUIPMENT MARKET, BY SERVICE TYPE (Page No. - 115)
    7.1 INTRODUCTION 
           FIGURE 41 REPAIR/AFTER-SALES SERVICES TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 40 T&M MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
           TABLE 41 T&M MARKET, BY SERVICE TYPE, 2023–2028 (USD MILLION)
           TABLE 42 SERVICE TYPE: T&M MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
           TABLE 43 SERVICE TYPE: T&M MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
           TABLE 44 SERVICE TYPE: T&M MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 45 SERVICE TYPE: T&M MARKET, BY REGION, 2023–2028 (USD MILLION)
    7.2 CALIBRATION SERVICES 
           7.2.1 NEED FOR CALIBRATION SERVICES TO COMPARE ACTUAL PERFORMANCE WITH STANDARD PERFORMANCE
                    TABLE 46 CALIBRATION SERVICES: MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
                    TABLE 47 CALIBRATION SERVICES: MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
    7.3 REPAIR/AFTER-SALES SERVICES 
           7.3.1 REQUIREMENT FOR REPAIR/AFTER-SALES SERVICES TO RETAIN PRODUCT QUALITY
                    TABLE 48 REPAIR SERVICES/AFTER-SALES SERVICES: TEST AND MEASUREMENT EQUIPMENT MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
                    TABLE 49 REPAIR SERVICES/AFTER-SALES SERVICES: MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
    7.4 OTHER SERVICES 
           7.4.1 ASSET MANAGEMENT
                    7.4.1.1 Outsourcing of asset management services to ensure total technical compliance
           7.4.2 CONSULTING AND TRAINING
                    7.4.2.1 Implementation and optimization of industrial processes by opting for consulting and training services
           7.4.3 CLIMATIC PRODUCT TESTING
                    7.4.3.1 Use of climate product testing services to confirm effective functioning of products even under extreme climatic conditions
           7.4.4 ENVIRONMENT PRODUCT TESTING
                    7.4.4.1 Adoption of environment product testing techniques to ensure endurance of products under different environmental conditions
           7.4.5 SHOCK TESTING
                    7.4.5.1 Requirement for shock testing services for products designed for consumer and military application
           7.4.6 EXTENDED PREMIUM PLANS
                    7.4.6.1 Availability of extended premium plans to offer extra protection and extend warranty period of products
                               TABLE 50 OTHER SERVICES: MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
                               TABLE 51 OTHER SERVICES: MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
 
8 TEST AND MEASUREMENT EQUIPMENT MARKET, BY VERTICAL (Page No. - 126)
    8.1 INTRODUCTION 
           FIGURE 42 INDUSTRIAL SEGMENT TO HOLD LARGEST SHARE IN MARKET DURING FORECAST PERIOD
           TABLE 52 MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
           TABLE 53 MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
    8.2 AUTOMOTIVE & TRANSPORTATION 
           8.2.1 INTEGRATION OF ADVANCED ELECTRONIC SYSTEMS IN VEHICLES TO BOOST DEMAND FOR TEST AND MEASUREMENT EQUIPMENT
                    TABLE 54 AUTOMOTIVE & TRANSPORTATION: T&M MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 55 AUTOMOTIVE & TRANSPORTATION: T&M MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 56 AUTOMOTIVE & TRANSPORTATION: T&M MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
                    TABLE 57 AUTOMOTIVE & TRANSPORTATION: T&M MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
                    TABLE 58 AUTOMOTIVE & TRANSPORTATION: T&M MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
                    TABLE 59 AUTOMOTIVE & TRANSPORTATION: T&M MARKET, BY SERVICE TYPE, 2023–2028 (USD MILLION)
    8.3 AEROSPACE & DEFENSE 
           8.3.1 CONCERNS REGARDING SAFETY AND RELIABILITY OF AIR TRAFFIC CONTROL SYSTEMS TO INCREASE NEED FOR TEST AND MEASUREMENT EQUIPMENT
                    TABLE 60 AEROSPACE & DEFENSE: T&M MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 61 AEROSPACE & DEFENSE: T&M MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 62 AEROSPACE & DEFENSE: T&M MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
                    TABLE 63 AEROSPACE & DEFENSE: T&M MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
                    TABLE 64 AEROSPACE & DEFENSE: T&M MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
                    TABLE 65 AEROSPACE & DEFENSE: T&M MARKET, BY SERVICE TYPE, 2023–2028 (USD MILLION)
    8.4 IT & TELECOMMUNICATIONS 
           8.4.1 GROWING USAGE OF WIRELESS TECHNOLOGIES TO INCREASE DEMAND FOR TEST AND MEASUREMENT EQUIPMENT
                    TABLE 66 IT & TELECOMMUNICATIONS: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 67 IT & TELECOMMUNICATIONS: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 68 IT & TELECOMMUNICATIONS: MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
                    TABLE 69 IT & TELECOMMUNICATIONS: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
                    TABLE 70 IT & TELECOMMUNICATIONS: MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
                    TABLE 71 IT & TELECOMMUNICATIONS: MARKET, BY SERVICE TYPE, 2023–2028 (USD MILLION)
    8.5 EDUCATION & GOVERNMENT 
           8.5.1 INCREASED DEMAND FOR GENERAL-PURPOSE TEST EQUIPMENT IN EDUCATION & GOVERNMENT VERTICAL TO FAVOR MARKET GROWTH
                    TABLE 72 EDUCATION & GOVERNMENT: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 73 EDUCATION & GOVERNMENT: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 74 EDUCATION & GOVERNMENT: MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
                    TABLE 75 EDUCATION & GOVERNMENT: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
                    TABLE 76 EDUCATION & GOVERNMENT: MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
                    TABLE 77 EDUCATION & GOVERNMENT: MARKET, BY SERVICE TYPE, 2023–2028 (USD MILLION)
    8.6 ELECTRONICS & SEMICONDUCTOR 
           8.6.1 IMPROVEMENT IN QUALITY OF CONSUMER ELECTRONIC DEVICES TO FAVOR TEST AND MEASUREMENT EQUIPMENT MARKET GROWTH
                    TABLE 78 ELECTRONICS & SEMICONDUCTOR: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 79 ELECTRONICS & SEMICONDUCTOR: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 80 ELECTRONICS & SEMICONDUCTOR: MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
                    TABLE 81 ELECTRONICS & SEMICONDUCTOR: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
                    TABLE 82 ELECTRONICS & SEMICONDUCTOR: MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
                    TABLE 83 ELECTRONICS & SEMICONDUCTOR: MARKET, BY SERVICE TYPE, 2023–2028 (USD MILLION)
    8.7 INDUSTRIAL 
           8.7.1 USE OF TEST AND MEASUREMENT EQUIPMENT AT DIFFERENT PRODUCT CYCLES TO DRIVE MARKET
                    TABLE 84 INDUSTRIAL: T&M MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 85 INDUSTRIAL: T&M MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 86 INDUSTRIAL: T&M MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
                    TABLE 87 INDUSTRIAL: T&M MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
                    TABLE 88 INDUSTRIAL: T&M MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
                    TABLE 89 INDUSTRIAL: T&M MARKET, BY SERVICE TYPE, 2023–2028 (USD MILLION)
    8.8 HEALTHCARE 
           8.8.1 NEED FOR EFFECTIVE AND PRECISE MEDICAL DEVICES TO INCREASE DEMAND FOR TEST AND MEASUREMENT EQUIPMENT
                    TABLE 90 HEALTHCARE: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 91 HEALTHCARE: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 92 HEALTHCARE: MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
                    TABLE 93 HEALTHCARE: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
                    TABLE 94 HEALTHCARE: MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
                    TABLE 95 HEALTHCARE: MARKET, BY SERVICE TYPE, 2023–2028 (USD MILLION)
 
9 TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION (Page No. - 145)
    9.1 INTRODUCTION 
           FIGURE 43 TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION
           FIGURE 44 ASIA PACIFIC TO HOLD LARGEST MARKET SHARE IN MARKET DURING FORECAST PERIOD
           TABLE 96 MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 97 MARKET, BY REGION, 2023–2028 (USD MILLION)
    9.2 NORTH AMERICA 
           FIGURE 45 NORTH AMERICA: MARKET SNAPSHOT
           TABLE 98 NORTH AMERICA: T&M MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
           TABLE 99 NORTH AMERICA: T&M MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
           TABLE 100 NORTH AMERICA: T&M MARKET, BY TYPE, 2019–2022 (USD MILLION)
           TABLE 101 NORTH AMERICA: T&M MARKET, BY TYPE, 2023–2028 (USD MILLION)
           TABLE 102 NORTH AMERICA: T&M MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
           TABLE 103 NORTH AMERICA: T&M MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
           9.2.1 US
                    9.2.1.1 Increasing use of communication test and measurement equipment to supply high-quality voice, video, and data center services
           9.2.2 CANADA
                    9.2.2.1 Rising demand for broadband services and communication testing
           9.2.3 MEXICO
                    9.2.3.1 Increasing demand for compact cars
           9.2.4 IMPACT OF RECESSION ON NORTH AMERICAN TEST AND MEASUREMENT EQUIPMENT MARKET
    9.3 EUROPE 
           FIGURE 46 EUROPE: MARKET SNAPSHOT
           TABLE 104 EUROPE: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
           TABLE 105 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
           TABLE 106 EUROPE: MARKET, BY TYPE, 2019–2022 (USD MILLION)
           TABLE 107 EUROPE: MARKET, BY TYPE, 2023–2028 (USD MILLION)
           TABLE 108 EUROPE: MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
           TABLE 109 EUROPE: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
           9.3.1 GERMANY
                    9.3.1.1 Increased government initiatives supporting EV purchase to propel test and measurement equipment market growth
           9.3.2 UK
                    9.3.2.1 Increased demand for test and measurement equipment in automotive industry to support market expansion
           9.3.3 FRANCE
                    9.3.3.1 Increasing use of test and measurement tools in aerospace & defense to facilitate market growth
           9.3.4 ITALY
                    9.3.4.1 Consumer electronics industry to propel market growth
           9.3.5 SPAIN
                    9.3.5.1 Growing demand for test and measurement equipment from IT, telecom, and industrial sectors to drive market
           9.3.6 NETHERLANDS
                    9.3.6.1 Booming IT, telecom, and industrial manufacturing verticals to help revive demand for test and measurement equipment
           9.3.7 REST OF EUROPE
           9.3.8 IMPACT OF RECESSION ON EUROPEAN TEST AND MEASUREMENT EQUIPMENT MARKET
    9.4 ASIA PACIFIC 
           FIGURE 47 ASIA PACIFIC: TEST AND MEASUREMENT EQUIPMENT MARKET SNAPSHOT
           TABLE 110 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
           TABLE 111 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
           TABLE 112 ASIA PACIFIC: MARKET, BY TYPE, 2019–2022 (USD MILLION)
           TABLE 113 ASIA PACIFIC: MARKET, BY TYPE, 2023–2028 (USD MILLION)
           TABLE 114 ASIA PACIFIC: ARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
           TABLE 115 ASIA PACIFIC: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
           9.4.1 CHINA
                    9.4.1.1 Increased demand from consumer electronics and industrial verticals to drive market
           9.4.2 JAPAN
                    9.4.2.1 Expanding consumer goods, medical devices, and IT & telecommunications industries to increase need for test and measurement equipment
           9.4.3 INDIA
                    9.4.3.1 Government initiatives to support market growth
           9.4.4 SOUTH KOREA
                    9.4.4.1 Increasing adoption of test and measurement equipment by manufacturers of electronics and semiconductors to contribute to market growth
           9.4.5 AUSTRALIA
                    9.4.5.1 IT, automotive, and telecommunications service providers to increase usage of test and measurement equipment
           9.4.6 SINGAPORE
                    9.4.6.1 Growing focus on improving product quality and high standard of living to lead to market growth
           9.4.7 REST OF ASIA PACIFIC
           9.4.8 IMPACT OF RECESSION ON ASIA PACIFIC TEST AND MEASUREMENT EQUIPMENT MARKET
    9.5 ROW 
           FIGURE 48 MIDDLE EAST & AFRICA TO HOLD LARGER SHARE OF TEST AND MEASUREMENT EQUIPMENT MARKET IN ROW DURING FORECAST PERIOD
           TABLE 116 ROW: TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 117 ROW: MARKET, BY REGION, 2023–2028 (USD MILLION)
           TABLE 118 ROW: MARKET, BY TYPE, 2019–2022 (USD MILLION)
           TABLE 119 ROW: MARKET, BY TYPE, 2023–2028 (USD MILLION)
           TABLE 120 ROW: MARKET, BY PRODUCT TYPE, 2019–2022 (USD MILLION)
           TABLE 121 ROW: MARKET, BY PRODUCT TYPE, 2023–2028 (USD MILLION)
           9.5.1 SOUTH AMERICA
                    TABLE 122 SOUTH AMERICA: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 123 SOUTH AMERICA: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    9.5.1.1 Brazil
                               9.5.1.1.1 Growing semiconductor industry to increase revenue of test and measurement equipment providers
                    9.5.1.2 Argentina
                               9.5.1.2.1 Use of wireless communication technologies and rising demand for better medical equipment to drive market expansion
                    9.5.1.3 Rest of South America
           9.5.2 MIDDLE EAST & AFRICA
                    TABLE 124 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 125 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    9.5.2.1 Saudi Arabia
                               9.5.2.1.1 Increased demand in healthcare sector to boost market growth
                    9.5.2.2 United Arab Emirates (UAE)
                               9.5.2.2.1 Positive encouragement from government to show substantial market development during forecast period
                    9.5.2.3 Rest of Middle East & Africa
           9.5.3 IMPACT OF RECESSION ON ROW TEST AND MEASUREMENT EQUIPMENT MARKET
 
10 COMPETITIVE LANDSCAPE (Page No. - 175)
     10.1 OVERVIEW 
     10.2 MARKET EVALUATION FRAMEWORK 
             FIGURE 49 KEY STRATEGIES UNDERTAKEN BY LEADING PLAYERS IN TEST AND MEASUREMENT EQUIPMENT MARKET FROM 2020 TO 2023
             10.2.1 PRODUCT PORTFOLIO
             10.2.2 REGIONAL FOCUS
             10.2.3 MANUFACTURING FOOTPRINT
             10.2.4 ORGANIC/INORGANIC STRATEGIES
     10.3 MARKET SHARE AND RANKING ANALYSIS 
             TABLE 126 TEST AND MEASUREMENT EQUIPMENT MARKET: DEGREE OF COMPETITION
             FIGURE 50 MARKET SHARE OF TOP 5 PLAYERS OFFERING TEST AND MEASUREMENT EQUIPMENT
     10.4 FIVE-YEAR COMPANY REVENUE ANALYSIS 
             FIGURE 51 FIVE-YEAR REVENUE ANALYSIS OF KEY COMPANIES
     10.5 KEY COMPANY EVALUATION QUADRANT, 2022 
             10.5.1 STARS
             10.5.2 EMERGING LEADERS
             10.5.3 PERVASIVE PLAYERS
             10.5.4 PARTICIPANTS
                        FIGURE 52 TEST AND MEASUREMENT EQUIPMENT MARKET: KEY COMPANY EVALUATION QUADRANT, 2022
     10.6 COMPETITIVE BENCHMARKING 
             TABLE 127 COMPANY FOOTPRINT (14 COMPANIES)
             TABLE 128 VERTICAL FOOTPRINT (14 COMPANIES)
             TABLE 129 REGIONAL FOOTPRINT (14 COMPANIES)
     10.7 STARTUPS/SMES EVALUATION QUADRANT, 2022 
             10.7.1 PROGRESSIVE COMPANIES
             10.7.2 RESPONSIVE COMPANIES
             10.7.3 DYNAMIC COMPANIES
             10.7.4 STARTING BLOCKS
                        FIGURE 53 TEST AND MEASUREMENT EQUIPMENT: STARTUPS/SMES EVALUATION QUADRANT, 2022
                        TABLE 130 MARKET: DETAILED LIST OF KEY STARTUPS/SMES
                        TABLE 131 MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUP/SMES
     10.8 COMPETITIVE SCENARIO 
             10.8.1 PRODUCT LAUNCHES
                        TABLE 132 PRODUCTS LAUNCHES, AUGUST 2020–JANUARY 2023
             10.8.2 DEALS
                        TABLE 133 DEALS, JULY 2020–NOVEMBER 2022
 
11 COMPANY PROFILES (Page No. - 193)
(Business Overview, Products/Services/Solutions Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*  
     11.1 INTRODUCTION 
     11.2 KEY PLAYERS 
             11.2.1 FORTIVE
                        TABLE 134 FORTIVE: COMPANY OVERVIEW
                        FIGURE 54 FORTIVE: COMPANY SNAPSHOT
                        TABLE 135 FORTIVE: PRODUCT/SERVICE/SOLUTION OFFERINGS
                        TABLE 136 FORTIVE: DEALS
             11.2.2 KEYSIGHT TECHNOLOGIES
                        TABLE 137 KEYSIGHT TECHNOLOGIES: COMPANY OVERVIEW
                        FIGURE 55 KEYSIGHT TECHNOLOGIES: COMPANY SNAPSHOT
                        TABLE 138 KEYSIGHT TECHNOLOGIES: PRODUCT/SERVICE/SOLUTION OFFERINGS
                        TABLE 139 KEYSIGHT TECHNOLOGIES: PRODUCT LAUNCHES
                        TABLE 140 KEYSIGHT TECHNOLOGIES: DEALS
             11.2.3 ROHDE & SCHWARZ
                        TABLE 141 ROHDE & SCHWARZ: COMPANY OVERVIEW
                        FIGURE 56 ROHDE & SCHWARZ: COMPANY SNAPSHOT
                        TABLE 142 ROHDE & SCHWARZ: PRODUCT/SERVICE/SOLUTION OFFERINGS
                        TABLE 143 ROHDE & SCHWARZ: PRODUCT LAUNCHES
                        TABLE 144 ROHDE & SCHWARZ: DEALS
             11.2.4 ADVANTEST CORPORATION
                        TABLE 145 ADVANTEST CORPORATION: COMPANY OVERVIEW
                        FIGURE 57 ADVANTEST CORPORATION: COMPANY SNAPSHOT
                        TABLE 146 ADVANTEST CORPORATION: PRODUCT/SERVICE/SOLUTION OFFERINGS
                        TABLE 147 ADVANTEST CORPORATION: PRODUCT LAUNCHES
                        TABLE 148 ADVANTEST CORPORATION: DEALS
             11.2.5 NATIONAL INSTRUMENTS CORP.
                        TABLE 149 NATIONAL INSTRUMENTS CORP.: COMPANY OVERVIEW
                        FIGURE 58 NATIONAL INSTRUMENTS CORP.: COMPANY SNAPSHOT
                        TABLE 150 NATIONAL INSTRUMENTS CORP.: PRODUCT/SERVICE/SOLUTION OFFERINGS
                        TABLE 151 NATIONAL INSTRUMENTS CORP.: DEALS
             11.2.6 VIAVI SOLUTIONS INC.
                        TABLE 152 VIAVI SOLUTIONS INC.: COMPANY OVERVIEW
                        FIGURE 59 VIAVI SOLUTIONS INC.: COMPANY SNAPSHOT
                        TABLE 153 VIAVI SOLUTIONS INC.: PRODUCT/SERVICE/SOLUTION OFFERINGS
                        TABLE 154 VIAVI SOLUTIONS INC.: PRODUCT LAUNCHES
                        TABLE 155 VIAVI SOLUTIONS INC.: DEALS
             11.2.7 ANRITSU
                        TABLE 156 ANRITSU: COMPANY OVERVIEW
                        FIGURE 60 ANRITSU: COMPANY SNAPSHOT
                        TABLE 157 ANRITSU: PRODUCT/SERVICE/SOLUTION OFFERINGS
                        TABLE 158 ANRITSU: PRODUCT LAUNCHES
                        TABLE 159 ANRITSU: DEALS
             11.2.8 YOKOGAWA ELECTRIC CORPORATION
                        TABLE 160 YOKOGAWA ELECTRIC CORPORATION: COMPANY OVERVIEW
                        FIGURE 61 YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT
                        TABLE 161 YOKOGAWA ELECTRIC CORPORATION: PRODUCT/SERVICE/SOLUTION OFFERINGS
                        TABLE 162 YOKOGAWA ELECTRIC CORPORATION: PRODUCT LAUNCHES
                        TABLE 163 YOKOGAWA ELECTRIC CORPORATION: DEALS
             11.2.9 EXFO INC.
                        TABLE 164 EXFO INC.: COMPANY OVERVIEW
                        FIGURE 62 EXFO INC.: COMPANY SNAPSHOT
                        TABLE 165 EXFO INC.: PRODUCT/SERVICE/SOLUTION OFFERINGS
                        TABLE 166 EXFO INC.: PRODUCT LAUNCHES
                        TABLE 167 EXFO INC.: DEALS
             11.2.10 OWON TECHNOLOGY
                        TABLE 168 OWON TECHNOLOGY: COMPANY OVERVIEW
                        TABLE 169 OWON TECHNOLOGY: PRODUCT/SERVICE/SOLUTIONS OFFERINGS
     11.3 OTHER PLAYERS 
             11.3.1 TELEDYNE TECHNOLOGIES
             11.3.2 GOOD WILL INSTRUMENT CO., LTD.
             11.3.3 AMETEK INC.
             11.3.4 ADLINK TECHNOLOGY INC.
             11.3.5 LEADER INSTRUMENTS CORPORATION
             11.3.6 DYNAMIC SIGNAL
             11.3.7 ASTRONICS CORPORATION
             11.3.8 VAUNIX TECHNOLOGY CORPORATION
             11.3.9 DS INSTRUMENTS
             11.3.10 SALUKI TECHNOLOGY
             11.3.11 RIGOL TECHNOLOGIES, CO. LTD.
             11.3.12 IKM INSTRUTEK AS
             11.3.13 UNI-TREND TECHNOLOGY (CHINA) CO., LTD.
             11.3.14 PARTICLE MEASURING SYSTEMS
             11.3.15 MEXTECH TECHNOLOGIES INDIA PRIVATE LIMITED
*Details on Business Overview, Products/Services/Solutions Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.  
 
12 APPENDIX (Page No. - 242)
     12.1 INSIGHTS FROM INDUSTRY EXPERTS 
     12.2 QUESTIONNAIRE FOR TEST AND MEASUREMENT EQUIPMENT MARKET 
     12.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     12.4 CUSTOMIZATION OPTIONS 
     12.5 RELATED REPORTS 
     12.6 AUTHOR DETAILS 
 

 

The research study involved 4 major activities in estimating the size of the test and measurement equipment market. Exhaustive secondary research has been done to collect important information about the market and peer markets. The validation of these findings, assumptions, and sizing with the help of primary research with industry experts across the value chain has been the next step. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.

Secondary Research

In the secondary research process, various sources have been referred to for identifying and collecting information for this study on the test and measurement equipment market. Secondary sources considered for this research study include government sources; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and professional associations. Secondary data has been collected and analyzed to determine the overall market size, further validated through primary research.

Primary Research

In the primary research process, various primary sources have been interviewed to obtain qualitative and quantitative information related to the market across four main regions-Asia Pacific, North America, Europe, and RoW (the Middle East, Africa, and South America). Primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing directors, technology directors, and a few other related key executives from major companies and organizations operating in the test and measurement equipment market or related markets.

After the completion of market engineering, primary research has been conducted to gather information and verify and validate critical numbers obtained from other sources. Primary research has also been conducted to identify various market segments; industry trends; key players; competitive landscape; and key market dynamics, such as drivers, restraints, opportunities, and challenges, along with the key strategies market players adopt. Most of the primary interviews have been conducted with the supply side of the market. This primary data has been collected through questionnaires, emails, and telephonic interviews.

Test and Measurement Equipment Market Size, and Share

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

Market Size Estimation

The top-down and bottom-up approaches have been used extensively in market engineering. Several data triangulation methods have also been used to perform market forecasting and estimation for the report’s overall market segments and sub-segments. Multiple qualitative and quantitative analyses have been performed on the market engineering process to gain key insights throughout the report.

Secondary research has been used to identify the key players offering test and measurement equipment. The revenues of those key players have been determined through both primary and secondary research. The revenues have been identified geographically as well as market segment-wise, using financial statements and analyzing annual reports of the key market players. Interviews with CEOs, VPs, directors, and marketing executives have also been conducted to gain insights into the key players and the test and measurement equipment market. All the market shares have been estimated using secondary and primary research. This data has been consolidated, supplemented with detailed inputs and analysis from MarketsandMarkets, and presented in this report.

Market Size Estimation Methodology-Bottom-up approach

The bottom-up approach has been employed to arrive at the overall size of the test and measurement equipment market from the calculations based on the revenues of the key players and their shares in the market. Key players in the test and measurement equipment market, including  Keysight Technologies (US), Rohde & Schwarz (Germany), Fortive (US), National Instruments (US), and Teledyne Technologies (US) have been studied. The market size estimations have been carried out considering the market size of their Test and measurement equipment offerings.

Test and Measurement Equipment Market Size, and Bottom-up approach

In the top-down approach, the overall market size has been used to estimate the size of individual markets through percentage splits from secondary and primary research.
The most appropriate parent market size has been used to implement the top-down approach for the calculation of specific market segments.

Test and Measurement Equipment Market Size, and Top-down Approach

Data Triangulation

After arriving at the overall market size from the market size estimation process explained above, the total market has been then split into several segments and sub-segments. Data triangulation has been employed to complete the market engineering process and arrive at the exact statistics for all segments and sub-segments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Market Definition

Different types of test and measurement equipment are used to analyze, validate, and verify measurements of electronic and mechanical systems. They create signals and capture responses of electronic devices under test (DUTs). Such equipment is used to make decisions regarding the effectiveness of operational processes and help manufacturers monitor and improve the quality, safety, and productivity of their products. General-purpose test equipment (GPTE) (oscilloscopes, signal generators, arbitrary waveform generators, digital multimeter logic analyzers, power meters, power supplies, and modular instruments) and mechanical test equipment (MTE) (non-destructive test equipment, machine vision inspection systems, and machine conditioning monitoring systems) are the 2 major categories of test and measurement equipment.

Stakeholders

  • Raw material and manufacturing equipment suppliers
  • Semiconductor wafer vendors
  • Fabless players
  • Foundry players
  • Original equipment manufacturers (OEMs)
  • Original design manufacturers (ODMs) and OEM technology solution providers
  • Networking solutions providers
  • Distributors and retailers
  • Research organizations
  • Technology standards organizations, forums, alliances, and associations
  • Technology investors
  • Software providers
  • Value-added resellers (VARs)

The main objectives of this study are as follows:

  • To define, describe, and forecast the test and measurement equipment market by product type, service type, vertical, and geography, in terms of value.
  • To forecast the market for general-purpose test equipment, in terms of volume based on region, vertical, products, and services.
  • To forecast the market for various segments with respect to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), in terms of value.
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges that influence the growth of the market.
  • To provide a detailed overview of the test and measurement equipment value chain, along with industry trends, technology trends, use cases, security standards, and Porter’s five forces.
  • To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market.
  • To analyze the opportunities in the market for stakeholders by identifying high-growth segments and detail the competitive landscape for market players.
  • To strategically profile key players and comprehensively analyze their market rankings and core competencies2.
  • To analyze the competitive developments such as joint ventures, mergers and acquisitions, product launches, and research and development (R&D) carried out by market players.
  • To map the competitive intelligence based on company profiles, key player strategies, and game-changing developments, such as product developments, collaborations, and acquisitions.
  • To benchmark players within the market using the proprietary Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business strategy excellence and strength of product portfolio.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Country-wise Information:
  • Analysis for additional countries (up to five)

Company Information:

  • Detailed analysis and profiling of additional market players (up to five)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

Request Customization

Instant Answers with GPT - Ask Now!

Ask real questions. Get complete answers !
Report Code
SE 4415
Published ON
May, 2023
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Test and Measurement Equipment Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status Website Feedback