Global Test And Measurement Equipment Market Top Major Players 2024, Forecast To 2033
8 Mar, 2024
The market for test and measurement equipment has seen robust growth, increasing from $31.92 billion in 2023 to $33.79 billion in 2024, with a CAGR of 5.9%. This growth is driven by factors such as the expansion of the telecommunications industry and increasing demand for quality control in manufacturing. Forecasts indicate continued strong growth, with the market expected to reach $41.23 billion in 2028, boasting a CAGR of 5.1%. Key drivers include the expansion of electric vehicle production and advances in wireless communication standards. Major trends include the development of compact testing equipment and the integration of automation in testing processes.
Global Test And Measurement Equipment Market Key Driver
The test and measurement equipment market is driven by the growing automotive industry's need for quality control and performance testing.
Get A Free Sample Of The Global Test And Measurement Equipment Market ReportGlobal Test And Measurement Equipment Market Segments
The test and measurement equipment market covered in this report is segmented –
1) Product:General Purpose Test Equipment (GPTE), Mechanical Test Equipment (MTE)
2) Service Type:Calibration Services, Repair Services Or After-Sales Services
3) Vertical:Automotive And Transportation, Aerospace And Defense, Information Technology (IT) And Telecommunication, Education And Government, Industrial, Healthcare, Semiconductor And Electronics
By Geography: The countries covered in the test and measurement equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the test and measurement equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the test and measurement equipment market report during the forecast period. The regions covered in the test and measurement equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Test And Measurement Equipment Industry Players
Texas Instruments Inc.; Agilent Technologies Inc.; AMETEK Inc.; Fortive Corporation; Tektronix Inc.; Teledyne Technologies Incorporated; Keysight Technologies Inc.; Mouser Electronics Inc.; Advantest Corporation; Rohde & Schwarz GmbH & Co. KG; Yokogawa Electric Corporation; Bruker Corporation; National Instruments Corporation; Fluke Corporation; Viavi Solutions Inc.; EXFO America Inc.; Anritsu Corporation; AEM Holdings Ltd.; TestEquity LLC; Chroma Systems Solutions; RIGOL Technologies; OWON Technology Inc.; Scientech Technologies Pvt. Ltd.; GW Instek; B&K Precision Corporation; Tegam Inc.
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Test And Measurement Equipment Market Overview
Test and measurement equipment refers to tools and devices used to measure, analyze, and test various parameters. These instruments are designed to provide accurate measurements, ensure quality control, troubleshoot issues, and verify the performance of electronic devices, components, and systems.