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Test and Measurement Equipment Market Trends

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

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Test and Measurement Equipment Market Trends

The shift towards automation in testing processes is transforming the landscape, as companies seek greater efficiency and accuracy. Advanced technologies, such as AI and machine learning, are increasingly being integrated into testing equipment, enabling real-time data analysis and predictive maintenance. This growth is particularly prominent in industries like telecommunications and automotive, where precise measurements are crucial for performance and compliance.

For instance, in March 2024, Airties launched Orbit, a new continuous test automation platform specifically designed for managed Wi-Fi deployments. This innovative solution aims to optimize and simplify testing procedures for various industry players, including broadband service providers, manufacturers of customer premises equipment (CPE), and system-on-chip (SoC) producers.

The high cost of upgrading advanced testing equipment poses a significant challenge for many organizations, as financial constraints can limit access to the latest technologies. This is compounded by the increasing complexity of modern devices, which often require specialized knowledge for operation and maintenance. As industries evolve and demand for precision rises, the skill gap in the workforce becomes more pronounced, making it difficult for companies to fully utilize their investments in new technologies. This combination of high costs and the need for specialized expertise can hinder operational 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.