Global Test and Measurement Equipment Market to Reach US$ 37.4 Billion by 2032, Impelled by Significant Growth in Electronics Industry

March 13, 2023 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled "Test and Measurement Equipment Market Report by Product (General Purpose Test Equipment (GPTE), Mechanical Test Equipment (MTE)), Service Type (Calibration Services, Repair Services/After-Sales Services), End Use Industry (Automotive and Transportation, Aerospace and Defense, IT and Telecommunication, Education, Semiconductor and Electronics, and Others), and Region 2024-2032," the global test and measurement equipment market reached a value of US$ 25.8 Billion in 2023. Test and measurement equipment refers to the devices and systems used to measure and test various physical, electrical, and electronic properties and parameters. This equipment is used in multiple applications, including product design and development, manufacturing, quality control, research and development, and maintenance and repair. Test and measurement equipment includes instruments, such as oscilloscopes, multimeters, signal generators, spectrum analyzers, and network analyzers, as well as more specialized equipment like environmental test chambers and thermal imaging cameras. They help ensure that products meet design specifications, standards, and requirements, improving product quality and reliability. They enable accurate and precise measurement of various physical and electrical properties, which are essential for research and development in multiple fields. Test and measurement equipment provides valuable data and information that helps to increase understanding of various phenomena and systems, leading to further advancements and innovations.

Global Test and Measurement Equipment Market Trends:

The global market is majorly driven by the increasing product demand across electronics, telecommunications, automotive, aerospace, and defense industries. In line with this, the rising demand for high-quality products and rapid technological advancements are significantly contributing to market growth. Furthermore, leading companies in the market are focusing on innovation, product differentiation, and expanding their global presence to maintain a competitive edge. Apart from this, the growing technological progress in networking and communication is positively influencing the market. Moreover, the ongoing trend of developing and adopting 5G wave technologies is creating a positive outlook for the market. Besides, significant growth in the electronics industry and the escalating product demand for testing and diagnosing faults in aircraft are catalyzing the market. Additionally, the rapid integration of connected devices with the Internet of Things (IoT) and rapid industrialization worldwide are propelling the market. On account of the factors above, the market is anticipated to reach a value of US$ 37.4 Billion by 2032, exhibiting a CAGR of 4.1% during 2024-2032. 

Market Summary:

  • On the basis of the product, the market has been categorized into general purpose test equipment (oscilloscopes, signal generators, multimeters, logic analyzers, spectrum analyzers, bert (bit error rate test), network analyzers, and others) and mechanical test equipment (non-destructive test equipment, machine vision inspection, and machine condition monitoring).
  • Based on the service type, the market has been classified into calibration services and repair services/after-sales services.
  • Based on the end use industry, the market has been segmented into automotive and transportation, aerospace and defense, IT and telecommunication, education, semiconductors and electronics, and others.
  • On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Advantest Corporation, Anritsu Corporation, EXFO Inc., Fortive, Keysight Technologies, Inc., National Instruments Corporation, Rohde & Schwarz GmbH & Co. KG, Teledyne Technologies Incorporated, Texas Instruments Incorporated, VIAVI Solutions Inc., and Yokogawa Electric Corporation.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Service Type, Product, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Advantest Corporation, Anritsu Corporation, EXFO Inc., Fortive, Keysight Technologies, Inc., National Instruments Corporation, Rohde & Schwarz GmbH & Co. KG, Teledyne Technologies Incorporated, Texas Instruments Incorporated, VIAVI Solutions Inc., and Yokogawa Electric Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Test and Measurement Equipment Market to Reach US$ 37.4 Billion by 2032, Impelled by Significant Growth in Electronics Industry
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