Global Test and Measurement Equipment Market Synopsis
Test and Measurement Equipment Market Size Was Valued at USD 37,500.00 Million in 2023 and is Projected to Reach USD 53,800.00 Million by 2030, Growing at a CAGR of 4.72% From 2024-2030.
The Global Test and Measurement Equipment Market is estimated to grow at a CAGR of 4.72% from 2024-2030.
- The Global Test and Measurement Equipment Market is driven by several key factors, including rapid technological advancements and increased demand across industries such as aerospace, automotive, telecommunications, and healthcare.
- The continuous evolution in test equipment capabilities, particularly with the integration of automation, AI, and IoT technologies, is enhancing the performance and precision of test solutions.
- Key market drivers also include the increasing adoption of smart devices, energy-efficient solutions, and the continuous need for innovation in product design and development.
Global Test and Measurement Equipment Market Trend Analysis
Technological Advancements:
- Innovations in electronics, automation, and communication technologies are enhancing the capabilities of test and measurement equipment. The integration of AI and machine learning is improving testing accuracy and efficiency
Increasing Demand for Electric Vehicles (EVs):
- The rise in EV production is significantly influencing the market, particularly in the automotive sector, which has shown a growth rate of 3.6% from 2023 to 2030
5G Infrastructure Development:
- The deployment of 5G networks has created a substantial need for advanced testing solutions, especially in telecommunications5. This trend is expected to continue as telecom companies upgrade their infrastructure.
Global Test and Measurement Equipment Market Segment Analysis:
Test and Measurement Equipment Market Segmented based on Product Type, Service Type, Frequency, End-User Industry, and Region.
By Product Type, Oscilloscopes segment is expected to dominate the market during the forecast period
By Product Type, Oscilloscopes segment is the fastest-growing segment due to increasing demand for precise, real-time electronic testing in industries such as electronics, telecommunications, automotive, and healthcare. Oscilloscopes play a critical role in testing and troubleshooting electronic circuits, especially as advancements in technology push the development of more complex systems.
Global Test and Measurement Equipment Market Regional Insights:
Asia Pacific is Expected to Dominate the Market Over the Forecast period
Geographically, Asia Pacific region is expected to experience significant growth over the forecast period. Countries such as China, India, and Japan are anticipated to play a crucial role in shaping the market's growth, as they have become key hubs for electronics manufacturing & innovation. The presence of numerous local and global companies in the region, coupled with government initiatives promoting industrial development & infrastructure, is further boosting the demand for high-quality testing & measurement equipment.
Global Test and Measurement Equipment Market Top Key Players:
- Yokogawa Electric
- Rohde & Schwarz
- Anritsu
- Advantest
- EXFO
- OWON Technology
- GW Instek
- RIGOL Technologies
- Saluki
- Uni-Trend Technology
- Other Major Players
Key Developments:
- In Sept 2024, Yokogawa Test & Measurement released the DLM3000HD series oscilloscopes, featuring high-definition capabilities and supported by the IS8002CDV Classic Data Viewer software. Designed for high-precision, high-speed measurement, the oscilloscopes addressed the need for energy-efficient motors and inverters. With improved resolution (12-bit) and bandwidths up to 500 MHz, the DLM3000HD enabled detailed waveform analysis for complex digital applications.
- In Nov 2024, Rohde & Schwarz and ETS-Lindgren partnered to deliver advanced OTA testing solutions for next-generation wireless technologies. They integrated the R&SCMX500 signaling tester and R&SSMBV100B signal generator with ETS-Lindgren’s EMQuest software, enabling comprehensive testing for 4G, 5G, Wi-Fi 7, and A-GNSS. This collaboration supported CTIA-certified SISO/MIMO tests and carrier aggregation, advancing wireless technology capabilities.
