Test and Measurement Equipment Market

Fortive Corporation (US) and Keysight Technologies (US) are the Top 2 Players in the Test and Measurement Equipment Market

The overall test and measurement equipment market is expected to grow from USD 25.7 billion in 2018 to USD 32.3 billion by 2024, at a CAGR of 3.90%. The market is growing due to the increasing demand for this equipment in end-use sectors, such as automotive & transportation, aerospace & defense, IT & telecommunications, education & government, semiconductor & electronics, industrial, and healthcare. The test and measurement equipment market is projected to grow at the highest CAGR in the healthcare sector during the forecast period. There is significant potential for the growth of the test and measurement equipment market in this sector due to the development of new healthcare equipment, patient-monitoring systems, and personal emergency reporting systems.

Increasing penetration of modular instrumentation, technological advancements in networking and communication, growing demand for high-performance and power-efficient electronic devices are some of the factors that are expected to drive the test and measurement equipment market during the forecast period. However, increasing penetration of rental and leasing services and matching up with constantly changing technologies are the major challenges in this market. On the other hand, advent of the 5G technology, deployment of LTE and LTE- Advanced (4G) networks, and rapid penetration of IoT devices have provided new opportunities for the growth of the test and measurement equipment market.

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The test and measurement equipment market is highly competitive owing to the presence of a large number of players. New product launches and developments, acquisitions, and partnerships have been the major strategies adopted by the leading players to grow in the market. Among these strategies, players have widely adopted the product launches and developments strategy to remain competitive in the market. The key players in this market include Fortive Corporation (US), Rohde & Schwarz GmbH & Co. KG (Germany), Anritsu Corporation (Japan), Keysight Technologies (US), Yokogawa Electric Corporation (Japan), National Instruments Corporation (US), EXFO, Inc. (Canada), Advantest Corporation (Japan), VIAVI Solutions Inc. (US), Teledyne Technologies Inc. (US), and Texas Instruments Incorporated (US).  

Top 2 players in test and measurement equipment market:

Fortive offers an extensive range of test and measurement equipment. Tektronix and Fluke are the fully owned subsidiaries of the company that operate in the test and measurement equipment market. Tektronix designs and manufactures test, measurement, and monitoring solutions. It has over 6 decades of experience in the test and measurement business. In July 2018, Tektronix announced the addition of the IQFlowTM functionality to its RSA7100A wideband signal analysis solution. This enhancement offers the required speed and flexibility to the solution to perform real-time Digital Signal Processing (DSP) and support Hardware-in-the-loop (HWIL or HIL) testing for radar and electronic warfare systems. The company has R&D, manufacturing, sales, distribution, service, and administrative facilities in over 40 countries across North America, Asia Pacific, Europe, and Latin America.

Keysight Technologies, a spin-off of Agilent Technologies, is one of the key players in the test and measurement equipment market. It is one of the leaders in the field of wireless communication. The company has expertise in engineering different types of products and offers various services. It mainly focuses on manufacturing innovative products by carrying out extensive R&D activities to maintain its position in the test and measurement equipment market. Keysight develops different types of measurement devices. It is continuously carrying out innovations in its products through its 13 R&D centers, which have helped it to meet the ever-changing requirements of its customers. For instance, in July 2018, Keysight launched Infiniium UXR series, an oscilloscope to support terabit research with real-time bandwidth of up to 110 GHz and signal integrity. The company has a diversified geographic presence and generates a revenue of approximately 33% from the US, 30% from China and Japan, and 37% from RoW. The R&D facilities and manufacturing sites of the company are located in California and Colorado in the US and China, Germany, India, Japan, Malaysia, Singapore, and Spain.

Related Reports:

Test and Measurement Equipment Market by Product (General Purpose Test Equipment, Mechanical Test Equipment), Service Type (Calibration Services, Repair Services/After Sales Services), End–Use Sector, and Geography – Global Forecast to 2024

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