Test and Measurement Market to witness market expansion by USD 9,119.5 mn revenue growth through 2023-2027
The rising number of smart connected devices in usage along with technological advancement in the communication industry, and the growing demand from end-user industries is driving the rapid market expansion of the test and measurement market. As per forecasted data, the test and measurement market is estimated to grow at a CAGR of 5.1% between 2022 and 2027 with revenue growth of USD 9,119.5 million.
The market is segmented by product (wireless test equipment, GPTE, semiconductor test equipment, and real-time test equipment), end-user (aerospace and defense, telecommunication, semiconductor and electronics, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa
Technavio's report captures the growth trajectory of the market that is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
Navigating through the growth drivers of the Test and Measurement Market: It has been observed the following determinants have fueled this booming market expansion
Market Trend: When it comes to market trends the global market is witnessing a range of new product launches owing to the increase in demand. The new product will further motivate consumers to purchase such equipment.
Get a comprehensive report summary describing the market landscape in our data-backed report that captures the growth trajectory of the market.
Key Companies: Advantest Corp., Anritsu Corp., Ceyear Technologies Co. Ltd., Fastech Telecommunications, Fortive Corp., Good Will Instrument Co. Ltd., Hitachi Ltd., Keysight Technologies Inc., Mission Critical Electronics, National Instruments Corp., Premier Measurement Solutions Pvt. Ltd., Qmax Test Equipments Pvt. Ltd., Rohde and Schwarz GmbH and Co. KG, etc are some of the major market participants. Our report includes qualitative and quantitative analyses of vendors with a wider understanding of the business ecosystem. Download a Free Sample Report