Global Test and Measurement Equipment Market

 

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Global Test and Measurement Equipment Market - Industry Analysis and Forecast (2017-2026) by Product (Mechanical Test Equipment (MTE), General Purpose Test Equipment (GPTE)), by Service Type (Calibration Services, Repair Services), by End-Use Industry, and by Geography (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America)

Test and Measurement Equipment Market valued USD 23.45 Billion in 2017 and expected to reach USD 31.82 Billion by 2026, at a CAGR of 3.45%.

The report analyses competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Global Test and Measurement Equipment Market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. Market size by value is estimated and forecasted with the revenues of leading companies operating in the Global Test and Measurement Equipment Market with key developments in companies and market trends.

Key factors expected to drive the growth of market include increased penetration of modular instrumentation, increasing adoption of T&M solutions by end-users such as telecommunication service providers, mobile device manufacturers, network equipment manufacturers, and telecommunication service providers, and increase in the adoption of electronic devices.

However, price sensitivity of test and measurement equipment is restraining weigh in motion market growth.

General-purpose test equipment held larger share of the overall Global Test and Measurement Equipment Market in 2016

By Product, Global Test and Measurement Equipment Market is segmented into Mechanical Test Equipment (MTE) and General Purpose Test Equipment (GPTE). From this segment, market for General-purpose test equipment accounted for the larger share of the overall test and measurement equipment market in 2016. Growth of this segment is majorly driven by increasing opportunities in the consumer electronics sector related to smartphones and growing advancements in the IT and telecom sector.

Industrial applications to hold larger share of the Test and Measurement Equipment Market by 2026

Based on End-Use Industry, Global Test and Measurement Equipment Market is segmented into Aerospace & Defense, Automotive, Education & Government, IT & Telecommunication, Healthcare (Medical), Semiconductor & Electronics, and Industrial. From this segment, market for industrial applications is anticipated to account for the larger share of the overall market by 2026.

Healthcare application to grow at the highest CAGR between 2017 and 2026

From the application segment, Healthcare application segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to development of new healthcare equipment, patient-monitoring systems, and personal emergency reporting systems.

APAC to hold the larger share of the Global Test and Measurement Equipment Market by 2026

Geographically Global Test and Measurement Equipment Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among all geographical regions, APAC is anticipated to hold the larger share of the test and measurement equipment market during the forecast period. Growth of this segment is majorly driven by increasing number of smartphones, continuous upgrading of next-generation telecommunication standards.
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Global Test and Measurement Equipment Market, Market research company

 

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