A new study title” Test and Measurement Equipment market size, status and forecast 2027” has been featured on market research future.
Market Research Future (MRFR), in its latest Test and Measurement Equipment market 2020 reveals the impact of COVID-19 on the market through the assessment period. As per MRFR study, the Global Test and Measurement Equipment Market can value touch USD 34.586 Mn by 2025. The expansion of the global test and measurement equipment market can be at 4.85% CAGR in the forecast period. The test and measurement equipment are used for a varied range of applications, such as research institutes, manufacturing analysis, electronics, laboratories, and material analysis.
The utility of these devices for the testing that include oscilloscopes, signal generators, spectrum analysers, and network analyzer among others can boost the expansion of the world market in the years to ahead. The high high-performance offered by test and measurement equipment products in the calibration of devices that can aid the semiconductor equipment suppliers can boost the expansion of the global market. Their high utility in testing of plug-in electric vehicles, wind turbines, solar panels, sensors, smart meters, and other products industrial applications can prompt the rise of the market through the review period. There are several factors that can contribute to the growing adoption of test and measurement equipment that includes rise in complexities in design of consumer electronic devices and need for high efficiency test equipment to boost the manufacturing throughput.
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MRFR registered some prominent names in the world test and Measurement Equipment Market. They are; ADVANTEST Corporation (Japan), Fortive Corporation (US), Teledyne Technologies Incorporated (US), Keysight Technologies (US), National Instruments (US), IKM Instrutek AS (Norway), Anritsu Corporation (Japan), VIAVI Solutions Inc (US), ROHDE&SCHWARZ (Germany), Spirent Communications PLC (US), EXFO INC.(Canada), Yokogawa Electric (Japan), and Spectris PLC (UK) among others.
The segment study of the Global Test and Measurement Equipment Market is based on Service, Product, Component, and Application.
The component based segments of the Test and Measurement Equipment Market are value-added accessories, connectors, and cables assemblies.
The service based segments of the Test and Measurement Equipment market are professional services and managed services. The professional services segments are repair or support, integration services, maintenance service, and consulting services. The Integration services provide solutions related to installation and deployment as demanded by customers. The need for regular maintenance of hardware component can cause the market to rise.
The application based segments of the test and measurement equipment market are industrial & manufacturing, aerospace & defense, telecommunication, healthcare & medical equipment, electronics & semiconductor, and automotive among others. Electronics & semiconductor, followed by telecommunication sector are high end-users of test and measurement equipment, which can cause the expansion of the global market.
The regional study of the Global Test and Measurement Equipment Market reveals that the test and measurement market in North America can dominate the global test and measurement equipment market across the forecast period as the IT and telecom industry is rising rapidly. In APAC, the expansion of the test and measurement equipment market through the forecast period can be attributed to the presence of effective facilities and technical expertise. The test and measurement market in the APAC region is accounted on the presence of a high number of test and measurement equipment suppliers. The existence of prominent hub for different industries, such as electrical, electronics, and automotive can impel the expansion of the regional market. The high number of automobile producers and the existence of lead manufacturers of consumer electronic devices, such as gaming consoles, smartphones, and laptops can promote the expansion of the world market.
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