Dublin, May 07, 2021 (GLOBE NEWSWIRE) -- The "Test and Measurement Equipment Market with COVID-19 Impact Analysis by Product Type (GPTE and MTE), Service Type (Calibration Services, Repair Services/After-sales Services), Verticals, and Region(APAC, Europe, North America) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The test and measurement equipment market is expected to grow at a CAGR of 3.7% from USD 27.7 billion in 2021 to USD 33.3 billion.

Test and measurement equipment market for repair services/ after-sales services is expected to grow at highest CAGR during forecast period

Repair services are provided for material and workmanship defects. The purpose of repairing is similar to troubleshooting, which includes detecting and eliminating faults present in a product in various stages of the product cycle. Companies connect with their customers through toll-free numbers, online chat, or emails to provide round-the-clock technical assistance. This helps test and measurement equipment service providers to minimize their turnaround time and enhance the quality of the product under inspection.

Test and measurement equipment market for GPTE accounted for largest share in 2020

General-purpose test equipment include oscilloscopes, signal generators, digital multimeters, logic analyzers, spectrum analyzers, bit error rate tester (BERT) solutions, network analyzers, power meters, electronic counters, modular instruments, and automated test equipment (ATE), and power supplies. The characteristics of the above-mentioned type of equipment include large size, bulky displays, and slightly complicated control system and customer user interface. These characteristics are expected to change to an extent owing to the rising demand for miniature devices and the strong focus of test and measurement equipment manufacturers on integrating different types of equipment into one offering.

Test and measurement equipment market for industrial end-user industry to hold the largest share during forecast period

In the industrial sector, test and measurement equipment are used at different product life cycles, such as designing, manufacturing, and maintenance. These products could be solar inverters, MP3 players, cell phones, radar systems, etc. Also, products related to mechanical engineering such as wind turbines, car suspensions, machine health monitoring systems, and steel manufacturing assembly need to be tested for their reliability and performance. Thus, test and measurement equipment play an integral role in the industrial vertical.

According to Rohde-Schwarz (Germany), in the automotive industry, the percentage of electronic devices in cars has been growing at an annual rate of 15%. New applications are continuously being added. For instance, mechanical components are being replaced by industrial robot components of steer-by-wire systems, radar-based safety systems, and new telematics systems designed for collision avoidance and traffic flow control applications. Due to such technological advancements, there is a potential demand for testing and measuring equipment to ensure the proper functioning of all systems and devices.

North America is expected to hold the largest market for Test and measurement equipment during forecast period

The market in this region is expected to be driven by the growing demand from the healthcare, and IT and telecommunications sectors. With advancements in autonomous driving technology and recent Internet of Things (IoT) technology trends, there is a need for improved bandwidth and latency reduction, which can be easily achieved through 5G. The US is one of the active participants in the league for commercializing the 5G network throughout the country.

Additionally, the shift toward connected cars and intelligent transportation systems, along with increasing demand for medical devices in the wake of COVID-19, is expected to drive the test and measurement equipment market in the region. Also, the significant presence of major companies offering test and measurement devices in this region and the high demand for test and measurement applications for different applications in the healthcare and telecom verticals fuel market growth in North America.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Realistic Scenario (Post-COVID-19)
3.2 Optimistic Scenario (Post-COVID-19)
3.3 Pessimistic Scenario (Post-COVID-19)

4 Premium Insight
4.1 Attractive Opportunities in Test and Measurement Equipment Market
4.2 Test and Measurement Equipment Market, by Product Type
4.3 Test and Measurement Equipment Market for GPTE, by Region
4.4 Test and Measurement Equipment Market, by Vertical
4.5 Test and Measurement Equipment Market, by Service Type
4.6 Test and Measurement Equipment Market for Network Analyzers, by Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Adoption of Electronic Devices
5.2.1.2 Increasing Demand for Modular Instruments by Product Designers and Manufacturers
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
5.2.2 Restraints
5.2.2.1 High Installation and Ownership Costs, Along with Requirement for Skilled Professionals
5.2.2.2 Strong Inclination of Customers Toward Adoption of Test and Measurement Equipment on Rental Basis
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
5.2.4 Challenges
5.2.4.1 Difficulties Faced by Vendors in Keeping Up with Constantly Changing Technologies
5.2.4.2 Calibration, Irregularity, and Complexity Issues in Antenna Arrays
5.3 Ycc Drivers

6 Industry Trends
6.1 Value Chain Analysis
6.1.1 Research and Development Engineers
6.1.2 Manufacturers and System Integrators
6.1.3 Distributors and End-User Industries
6.1.4 Post-Sales Service Providers
6.2 Key Industry Trends
6.2.1 Commercialization of IoT Technology
6.2.2 Inclination Toward Adoption of Test and Measurement Equipment on Rental Basis
6.2.3 Trend of Modular Test Instruments
6.2.4 Emergence of 5G Network
6.3 Average Selling Price (ASP) Trends
6.4 Test and Measurement Equipment Market: Patent Analysis
6.5 Import and Export Data
6.6 Tariff and Regulatory Landscape
6.6.1 Regulations Pertaining to Electric and Electronic Testing
6.6.2 Standards Related to Electrical Equipment
6.7 Test and Measurement Equipment Market: Ecosystem Market Map
6.8 Test and Measurement Equipment Market: Porter's Five Forces Analysis
6.9 Case Studies
6.9.1 TBG Solutions
6.9.2 Viewpoint Systems
6.9.3 TBG Solutions

7 Test and Measurement Equipment Market, by Product Type
7.1 Introduction
7.1.1 Volume Data
7.2 General-Purpose Test Equipment (GPTE)
7.2.1 Oscilloscopes
7.2.1.1 Wide Use of Oscilloscopes to Carry Out High-Speed Testing
7.2.2 Signal Generators
7.2.2.1 Increased Demand for Signal Generators in Aerospace & Defense, Automotive, Electronics & Semiconductor, and Healthcare Verticals
7.2.3 Multimeters
7.2.3.1 High Adoption of Multimeters Owing to Their High Accuracy
7.2.4 Logic Analyzers
7.2.4.1 High Usefulness of Logic Analyzers in Debugging Digital Hardware and Embedded Software
7.2.5 Spectrum Analyzers
7.2.5.1 Measurement of Critical Parameters for Communication Made Easy with Spectrum Analyzers
7.2.6 Bert Solutions
7.2.6.1 High Implementation of Bert Solutions to Test Digital Communication Circuits
7.2.7 Network Analyzers
7.2.7.1 Effective Use of Network Analyzers in R&D and Production Stages
7.2.8 Power Meters
7.2.8.1 Surged Demand for Power Meters for Testing Output Power of Communication Base-Station Transmitters, Cellular Telephones, Residential Electricity Meters
7.2.9 Electronic Counters
7.2.9.1 High Adoption of Electronic Counters in Applications Such as Display of Batch Counting, Numeric Positioning, Coil Winds,
7.2.10 Modular Instruments
7.2.10.1 Technology Convergence and Device Complexity Drive Need for Modular Architecture
7.2.11 Automated Test Equipment (Ate)
7.2.11.1 High Utilization of Automated Test Equipment to Reduce Manufacturing Time
7.2.12 Power Supplies
7.2.12.1 Increased Need to Control a Higher Degree of Load Creating Demand for Power Supplies
7.3 Mechanical Test Equipment (Mte)
7.3.1 Utilization of Mechanical Test Equipment to Perform Stress Analysis of Product
7.3.2 Non-Destructive Test Equipment
7.3.2.1 Non-Destructive Testing Market is in Maturity Stage
7.3.3 Machine Vision Inspection Systems
7.3.3.1 Machine Vision is Key Technology in Area of Manufacturing and Quality Control
7.3.4 Machine Condition Monitoring Systems
7.3.4.1 Machine Condition Monitoring System is Essential Part of Predictive Maintenance Program

8 Test and Measurement Equipment Market, by Service Type
8.1 Introduction
8.2 Calibration Services
8.2.1 Calibration Services Are Adopted to Identify Gap Between Actual Performance and Standard Performance of Any Equipment
8.3 Repair Services/After-Sales Services
8.3.1 Repair/After-Sales Services Minimize Turnaround Time and Enhance Under-Inspection Product Quality
8.4 Other Services
8.4.1 Asset Management
8.4.1.1 Asset Management Services Are Outsourced to Ensure Total Technical Compliance
8.4.2 Consulting and Training
8.4.2.1 Consulting and Training Service Providers Assist in Implementing and Optimizing Industrial Processes
8.4.3 Climatic Product Testing
8.4.3.1 Climatic Product Testing Ensures Products Can Function Even Under Extreme Climatic Conditions
8.4.4 Environment Product Testing
8.4.4.1 Environment Tests Carried Out to Verify If Products Can Withstand Different Environmental Conditions
8.4.5 Shock Testing
8.4.5.1 Shock Testing Mostly Conducted on Products Deployed in Military and Consumer Applications
8.4.6 Extended Premium Plans
8.4.6.1 Attractive Offers on Services for Two or More Years

9 Test and Measurement Equipment Market, by Vertical
9.1 Introduction
9.2 Automotive and Transportation
9.2.1 Sophisticated Electronic Systems Are in Demand for Luxury Cars and Sport Utility Vehicles
9.3 Aerospace & Defense
9.3.1 High Adoption of Test and Measurement Equipment in Aerospace & Defense with Growing Concerns of Air Traffic Control
9.4 It and Telecommunications
9.4.1 Increased Demand for Wireless Technologies Drives Demand for Test and Measurement Equipment in It and Telecommunications
9.5 Education and Government
9.5.1 Surged Need for General-Purpose Test Equipment in Education and Government Vertical Propels Market Growth
9.6 Electronics & Semiconductor
9.6.1 Strong Focus of Providers of Consumer Electronics to Reduce Time to Market Creating Demand for Test and Measurement Equipment
9.7 Industrial
9.7.1 Escalated Demand for Testing and Measuring Equipment in Industrial Vertical to Ensure Proper Functioning of Machinery
9.8 Healthcare (Medical)
9.8.1 Strong Requirement to Enhance Efficiency and Accuracy of Medical Devices Accelerates Demand for Testing Equipment in Healthcare

10 Geographic Analysis
10.1 Introduction
10.2 North America
10.3 Europe
10.4 APAC

11 Competitive Landscape
11.1 Introduction
11.2 Market Share Analysis: Test and Measurement Equipment Market
11.3 Historical Revenue Analysis, 2015-2019
11.4 Company Evaluation Quadrant
11.4.1 Star
11.4.2 Emerging Leader
11.4.3 Pervasive
11.4.4 Participant
11.5 Startup/Sme Evaluation Matrix
11.5.1 Progressive Company
11.5.2 Responsive Company
11.5.3 Dynamic Company
11.5.4 Starting Block
11.6 Competitive Situations and Trends
11.6.1 Product/Solution Launches
11.6.2 Partnerships/Agreements
11.6.3 Acquisitions

12 Company Profiles
12.1 Introduction
12.2 Key Players
12.2.1 Fortive
12.2.2 Keysight Technologies
12.2.3 Rohde & Schwarz
12.2.4 Advantest
12.2.5 National Instruments
12.2.6 Viavi Solutions
12.2.7 Anritsu
12.2.8 Yokogawa Electric
12.2.9 Exfo
12.2.10 Texas Instruments
12.3 Other Players
12.3.1 Gw Instek
12.3.2 Ametek
12.3.3 Adlink Technology
12.3.4 Leader Instruments
12.3.5 Leonardo
12.3.6 Dynamicsignals
12.3.7 Freedom Communication
12.3.8 Vaunix
12.3.9 Ds Instruments
12.3.10 Saluki

13 Appendix
13.1 Insights from Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

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