Home > Media & Technology > Testing > Test and Measurement Equipment Market

Test and Measurement Equipment Market Size

Report ID: GMI11842
Published Date: Oct 2024
Report Format: PDF

Download Free Sample

Test and Measurement Equipment Market Size

The global test and measurement equipment market size was valued at USD 28.8 billion in 2023 and is projected to grow at a CAGR of 5.1% between 2024 and 2032. The rapid expansion of 5G networks is significantly driving the demand for advanced testing solutions. As telecommunications companies invest in upgrading infrastructure, the need for precise wireless test equipment has surged. This growth is further fueled by the increasing complexity of devices requiring extensive testing to ensure performance and compliance with emerging standards, particularly in sectors like automotive and healthcare.

To get key market trends

Download Free Sample

For instance, in February 2024, Keysight Technologies introduced the E7515W UXM Wireless Connectivity Test Platform, tailored for testing Wi-Fi 7 technology in accordance with the latest IEEE 802.11be standards. This cutting-edge platform is designed to streamline the testing process for Wi-Fi 7 devices, improving performance and speeding up time-to-market for manufacturers.

Test and Measurement Equipment Market Report Attributes
Report Attribute	Details
Base Year:	2023
Test and Measurement Equipment Market Size in 2023:	USD 28.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.1%
2032 Value Projection:	USD 44.9 Billion
Historical Data for:	2021 – 2023
No. of Pages:	200
Tables, Charts & Figures:	180
Segments covered:	Product, Service, Technology, End Use
Growth Drivers:	Rising demand for wireless communication testing solutions Increasing adoption of IoT-connected devices globally Expanding 5G network deployments driving equipment needs Growing semiconductor industry requires advanced testing tools
Pitfalls & Challenges:	High cost of advanced testing equipment upgrades Increasing complexity of devices requiring specialized knowledge

Learn more about the key segments shaping this market

Download Free Sample

Furthermore, the increasing emphasis on quality assurance and regulatory compliance across various industries is propelling the demand for advanced testing equipment. As manufacturers face stricter standards, especially in sectors like healthcare, automotive, and aerospace, they require precise and reliable measurement tools to ensure safety and performance. This growth is driving innovation and investment in high-performance testing solutions.

For instance, in July 2024, Doosan Tesna, a subsidiary of the Doosan Group, announced its plans to invest around USD 160 million in a new semiconductor testing plant in Korea. This investment is part of a larger strategy to bolster the company's capabilities in the semiconductor sector, specifically in chip testing and packaging. Additionally, it will support the growing testing equipment market, enhancing overall industry efficiency and innovation.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of test and measurement equipment reached USD 28.8 billion in 2023 and is set to grow at a 5.1% CAGR from 2024 to 2032, driven by the rapid expansion of 5G networks.

The general-purpose test equipment segment accounted for over 44% of the market share in 2023, led by the increasing complexity of electronic devices.

The digital test segment held over 40% of the market share in 2023, as digital testing solutions enhance efficiency and accuracy through automation and AI integration.

North America accounted for over 37% of the market share in 2023, propelled by the rapid adoption of advanced technologies such as 5G, IoT, and autonomous vehicles.

The major players in the industry include Advantest, Anritsu, Emerson Electric, Fluke, Keysight Technologies, National Instruments, Rohde & Schwarz, Tektronix, Teledyne Technologies, and Viavi Solutions.