Electromagnetic Compatibility (EMC) Test Equipment Market to grow at a CAGR of 5.29% during 2024-2028
The Electromagnetic Compatibility (EMC) Test Equipment Market is expected to grow at a CAGR of 5.29% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.08 billion. In the automotive sector, the adoption of wired and wireless serial communication technologies, such as MOST150 and Broad R-Reach Ethernet, is driving the demand for Electromagnetic Compatibility (EMC) test equipment. New vehicle entertainment systems, which support wireless technologies like Wi-Fi and Bluetooth, are enabling the connection of multiple devices within a vehicle. In Europe, eCall systems, which automatically send emergency alerts to response centers via embedded cellular technology, are becoming increasingly common. Furthermore, advanced features such as GPS systems and in-car hotspots that convert 3G or 4G signals into Wi-Fi are further expanding the use of wireless technologies in vehicles. These developments necessitate the use of sophisticated EMC test equipment to ensure seamless and reliable communication between various vehicle systems and components.
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Technavio analysts predict that the Consumer electronics subsegment will lead the End-user segment during 2024 and 2028 The automotive sector encompasses passenger cars, light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), buses, and coaches. The surge in electric vehicle sales and the integration of connected and wireless technologies are fueling the need for Electromagnetic Compatibility (EMC) testing in this segment. Regulatory initiatives encouraging the adoption of renewable fuel sources in vehicles are instigating a significant technological shift in the automotive industry, leading to an increase in electric vehicle production. Traditional automakers are prioritizing innovation in hybrid and electric powertrains for vehicle development. The adoption of advanced battery-based systems to power vehicles and the requirement to enhance charger capacity for reducing charging times have intensified the demand for EMC test equipment and validations among electric vehicle manufacturers.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish augmented production of smartphones
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Electromagnetic Compatibility (EMC) is a critical aspect of modern electronic systems, ensuring the proper functioning of electronic devices in the presence of external electromagnetic disturbances. The EMC Test Equipment Market encompasses various industries, including electric vehicles, healthcare, aerospace and defense, IT and telecom, automotive, and consumer electronics. Key applications of EMC test equipment include Conducted Emissions testing and Radiated Emissions testing to measure EMC Emissions from devices. EMI Shielding Tapes and Immunity Testing are essential for electromagnetic interference (EMI) mitigation. The market for EMC test equipment is driven by the increasing use of electronic devices in various sectors, such as healthcare, aerospace and defense, IT and telecom, automotive, and consumer electronics. The emergence of 5G infrastructure and the Internet of Things (IoT) are further boosting the demand for robust EMC shielding and electromagnetic compatibility solutions. Financial investments in R&D and certification services are also fueling the growth of the EMC Test Equipment Market. Smaller enterprises are increasingly adopting EMC test equipment to ensure the electromagnetic compatibility of their products, reducing electromagnetic pollution and ensuring reliable performance. The EMC Test Equipment Market is expected to grow significantly in the coming years, driven by the increasing demand for electromagnetic compatibility solutions and the growing importance of electromagnetic compatibility in various industries.
In accordance with Technavio's market research, the Electromagnetic Compatibility (EMC) test equipment market is positioned under the broader electronic equipment and instruments sector within the global electronics industry. This market segment is a significant contributor to the electronics market, which encompasses manufacturers of communications equipment, technology hardware storage and peripherals, electronic components, consumer electronics, industrial electronics, and electronic manufacturing services. The global electronic equipment and instruments market is projected to expand at a moderate growth rate. The market size is determined by evaluating the revenue generated from the sales of associated Information and Communication Technology (ICT) and electronics products, equipment, and components.
The Electromagnetic Compatibility (EMC) Test Equipment Market is experiencing significant growth, fueled by the augmented production of smartphones. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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