This market analysis includes a detailed segmentation of the global test and measurement (T&M) market by application (aerospace and defense, communication, semiconductor and electronics, and others). It also outlines the market shares for key regions like the Americas, APAC, and EMEA. The leading vendors this report are Bureau Veritas, Danaher, Keysight, SGS, and Thermo Fisher.
Technavio has released a new market research report on the global T&M market, which is expected to grow at a CAGR of 6% between 2016 and 2020. The emergence of smart buildings, smart energy, smart healthcare, smart mobility, smart infrastructure, smart technologies, smart governance, and smart citizens has created huge opportunities for test equipment vendors. The ability of T&M equipment to facilitate the repair, calibration, instrument management, deployment, and maintenance of communication networks will lead to its augmented adoption during the predicted period. The Americas dominate the global market for T&M equipment, due to the introduction of 4G/ LTE and LTE-A technologies. The US is the major revenue contributor in the region, owing to the growing penetration of smartphones and the rising popularity of Internet of Things (IoT).
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Growth in wireless technologies will mark this market’s development over the next four years. The popularity of wireless networks is rapidly increasing due to the advent of smart devices like smartphones, smart watches, and iPads. Since wireless networks make use of components like base units, antennae, radio, and cables, the growing need to test these components for efficiency and quality will result in market growth during the estimated period,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research
The communication segment accounts for the largest share in the global T&M equipment market. The ability of the communications T&M products to help network operators, equipment manufacturers, and broadband service providers in delivering high-quality triple-play services, such as voice, video, and data over mobile and fixed networks, will result in the substantial growth of this market segment during the forecast period.
The key vendors in the global T&M equipment market include Bureau Veritas, Danaher, Keysight, SGS, and Thermo Fisher. T&M applications help operators to achieve effective operations and overcome complexities. This has created plenty of scope for new players to enter the market. The increased deployment of 4G/LTE communications systems worldwide is likely to attract new players into the market, as it offers effective operations of advanced equipment for wireless and wireline communications.
A more detailed analysis is available in the Technavio report, Global T&M Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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