DUBLIN, December 01, 2021--(BUSINESS WIRE)--The "Global Testing Equipment Market: Size, Trends & Forecast with Impact Analysis of COVID-19 (2021-2025)" report has been added to ResearchAndMarkets.com's offering.
While most of the industries worldwide suffered a negative impact from COVID-19, the global testing equipment market witnessed a mixed impact on it. Initially, the market witnessed a fall in the supply and shipment of testing equipment, however, the demand for testing equipment was more or less the same during the pandemic. Later in the year, the supply nearly matched the demand.
The global testing equipment market has increased during the years 2019-2020 and projections are made that the market would rise in the next four years i.e. 2021-2025.
The global testing equipment market is expected to increase due to the increased demand for consumer electronic devices, increasing penetration of smart connected devices, rise in the automotive industry, increasing use of testing equipment in the industrial sector, and supportive government initiatives, yet the market faces some challenges such as, economic downturn, high cost associated with the testing equipment, increasing complexity of the devices, etc.
The report provides an in depth analysis of the global testing equipment market by value, by end-user, by region, etc. The report provides a regional analysis of the testing equipment market, including the following regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. The report also provides a detailed analysis of the COVID-19 impact on the testing equipment market.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall testing equipment market has also been forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The global testing equipment market is fragmented with many major market players operating worldwide. The manufacturers of testing equipment produce different types of products to cater to the needs of various sectors.
The key players of the global testing equipment market are Keysight Technologies Inc., Teradyne Inc., Advantest Corporation, and Cohu Inc. (LTX-Credence) are also profiled with their financial information and respective business strategies.
Increased Demand for Consumer Electronic Devices
Increasing Penetration of Smart Connected Devices
Rise in Automotive Industry
Increasing Use of Testing Equipment in Industrial Sector
Supportive Government Initiatives
High Cost Associated
Increasing Complexity of the Devices
Improvement in Wireless Network Infrastructure
Increasing Penetration of AI applications
Escalating Use of Advanced Medical Equipment
Rising Awareness to Reduce Carbon Emission
Cohu Inc. (LTX-Credence)
Keysight Technologies Inc.
For more information about this report visit https://www.researchandmarkets.com/r/n8x890
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005677/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900