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Test and Measurement Market by Equipment, Application, Instrumentation, Industry Verticals, Geography.

HYDERABAD, TELANGANA, INDIA, February 6, 2023 /EINPresswire.com/ -- The Test and Measurement Market is forecast to reach $33 billion by 2025 and is estimated to grow at a CAGR of 4.05%. The ongoing digital transformation in automotive industry is boosting the retrofitting of devices and equipment embedded with a wide range of test & measurement equipment such as electrical tester, digital multi-meters, digital oscilloscope, spectrum analyzer, and environmental testers. Data centers, advanced telecom infrastructure, and automotives are some major end-use applications that require advanced measuring equipment to meet modern testing requirement.

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Key Takeaways:

This IndustryARC report on the Test and Measurement Market highlights the following areas –

• Modern electronic devices in automobiles are boosting the need of RF testing equipment (Radio Frequency testing equipment) significantly.

• APAC holds the majority market share owing to large demand from telecom and automotive industry.

• Changing landscape of communication infrastructure and digital transformation in various industries is uplifting the test & measurement equipment market.

• Test & measurement market is fragmented however major vendors are looking forward to consolidate the market through merger and acquisition.

Segmental Analysis:

By Industry vertical:

The test & measurement equipment market is poised to grow at a rapid pace owing to wide range of applications in the automotive sector.. According to next green car report, UK had 220,000 plug in cars by the end of June 2019. These included both hybrids and fully-electric vehicles. The growing adoption of electric and hybrid vehicles, and emerging demand for autonomous vehicles is likely to accelerate the market growth during the forecast period. Most of the autonomous vehicle use wireless communications standards such as long term evolution (LTE) and Wi-Fi for their infotainment system and other automobile accessories.

By Geography:

The Asia Pacific is the largest region for the test & measurement market due to presence of strong manufacturing base. Most of the demand from APAC region is experienced from China India, Taiwan, and Japan due to growth in electronics and automotive industry. The demand for test & measurement equipment from APAC region is growing enormously in telecommunication sector. Countries having dense population such as India and China contributes large market for telecommunication industry.

Test & Measurement Market - Drivers:

Testing and measurement of equipment, devices, and signals are the integral part of communication network. Thus, any new development in communication network will have a positive impact on testing and measuring equipment market. Presently, communication industry is witnessing several transformations due to evolution of 5G technology and data centers.

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Competitive Landscape:

The top 5 players in the Test and Measurement Industry are -

1. Bureau Veritas
2. Danaher
3. Keysight
4. SGS
5. Thermo Fisher

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https://www.industryarc.com/Research/Communication-Test-And-Measurement-Market-Research-500926

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