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With the increasing deployment of advanced wireless communication technologies such as 5G, Wi-Fi 6, and mmWave communication systems, there is a growing demand for signal generators capable of generating signals at higher frequencies. High-frequency signal generators are essential for testing and validating the performance of these next-generation communication systems including antennas, RF front ends, and transceivers. As a result, manufacturers are focusing on developing signal generators with extended frequency ranges and enhanced performance to meet the evolving market needs.
Software-defined signal generators (SDSGs) are gaining traction in the market due to their flexibility, scalability, and cost-effectiveness. Unlike traditional hardware-based signal generators, SDSGs rely on software-defined radio (SDR) technology to generate signals programmatically, allowing users to customize waveform parameters, modulation schemes, and signal characteristics in real-time. This flexibility enables users to adapt their signal generators to a wide range of applications and standards without the need for specialized hardware. As a result, manufacturers are investing in the development of SDSGs and associated software platforms to cater to the growing demand for versatile & adaptable signal generation solutions.
The microwave signal generators type segment in the signal generator industry held a decent share in 2023 and will grow at over 9% CAGR up to 2032, due to the increasing need for high-speed data transmission.
North America signal generator market held a share of over 35% in 2023 and will grow rapidly till 2032, driven by robust demand for advanced testing and measurement equipment.
National Instruments Corporation, Tektronix, Inc, Rohde & Schwarz, Stanford Research Systems, Anritsu Corporation, and B&K Precision Corporation among others.
The market size for signal generator was valued at over USD 1.8 billion in 2023 and is estimated to register over USD 3.2 billion in 2032, driven by the rapid advancement and proliferation of wireless communication technologies.