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Test and measurement equipment are anticipated to make inroads at a value CAGR of ~6% over 2019-2028. According to a study published by Insure Insights on the Test and measurement equipment market, The growing popularity for accuracy and speed in designing, manufacturing, or repairing of electronic products is anticipated to augment the demand in the global test and measurement equipment market.
Top Driver: Increased Use of IoT Devices to Generate demand for Test and Measurement Equipment
Test and measurement equipment has rich demand in IoT devices testing as such devices need to be tested in a real-time environment. IoT devices require controlled signal integrity and power integrity as devices spend most of their time in sleep mode and draw nanoamps of current. However, most of the devices need tens of milliamps when processing or communicating. Hence, to measure accurate low-power and dynamic range, and to analyze fast power-draw passing requires power measurement test systems.
IT and telecommunication to Make Crucial Contribution to Growth of Global Test and Measurement Equipment Market
Among end-user segments of the global test and measurement equipment market, IT and telecommunication are predicted to show significant growth in the future. The demand for telecommunication equipment such as RF MEMEs switches, Ethernet, and others is increasing owing to increasing deployment of the 4G/5g network infrastructure. RF MEMES switches are majorly used in microwave and radio frequency communication devices such as transmitters and receivers. The growing need for efficient communication networks of 4G and 5G is boosting demand for telecom test equipment to measure the transmissions from all of the systems. To cater to such demand in March 2019, Anritsu launched a new Field Master Pro MS2090A high-performance spectrum analyzer.
Rising Demand for Electronic Testing is expected to Benefit Market Growth in APAC Market
APAC has contributed majority of the market share, it is expected that the during the forecast period the trend will continue owing to increasing demand for test and measurement equipment from numerous industries such as automotive, semiconductor and electronics, IT, and telecommunication. China is dominating the market in the region, owing to the increased development of semiconductor products and IoT devices. In the country, demand for semiconductor components are used in consumer and industrial products such as PCs, smart mobile phones, servers, storage devices, IoT devices, wearable devices, automotive sensors, and others. Thus, the rising demand for semiconductor enables products, which incorporate ICs, sensors, and chips will drive the demand for test and measurement equipment during the forecast period.
Players to Focus on Expanding Applications in Pharmaceutical, Automotive, and Other Industries
The global test and measurement equipment market is expected to stay fragmented with the increase in the number of new entrants in the coming years. UL LLC, SGS AG, Keysight Technologies, Rohde & Schwarz, Fluke Corp., and Teledyne Technologies among others could be at the forefront of the competition in the global test and measurement equipment market. The vendors are either launching new products or forming partnership to grow in the market or gain more customers.
SGS AG: In May 2019, the company announced to acquire a US-based testing company Chemical Solutions Ltd. (“CSL”), specialized in in elemental and heavy metal testing for pharmaceutical, nutraceuticals, food, and cosmetic products across globally to expand its position in Agriculture, Food and Life business in the US, and expanding its scope and geographical presence in the US market.
UL LLC: The company in July 2019, acquired UK based Wintech Testing and Certification company that offers testing and certification services to the building envelope market. The aim behind the acquisition is to strengthen UL’s capability in the field of building envelope evaluation, testing and certification.
Keysight Technologies: in June 2018, the company launched a new a suite of test and measurement solutions to cater Hybrid Electric Vehicle (HEV)/Electric Vehicle (EV), and Home Energy Management Systems (HEMS) markets worldwide.
Scope of the Report
By Type
By Product
By End-User
By Region
Key Reasons to Purchase this Report
4. It builds a seven-year estimate based on how the market is predicted to
1.1 Market Vision
1.1.1 Market Definition
1.1.2 Market Scope
1.2 Market Segmentation
2.1 Our Research Methodology
2.2 Data Triangulation
2.3 Data Sources
2.4 Assumptions for the study
2.5 Approach Adopted
3.1 Market Snapshot
3.2 Regional Snapshot
3.3 Segment Summary
4.1 Overview
4.2 Prevalence analysis
4.3 Key Factor Impact Analysis
5.1 What’s Driving the Market
5.2 Porter’s Five Forces Analysis
5.2.1 Power of Suppliers
5.2.2 Threats From New Entrants
5.2.3 Power of Buyer
5.2.4 Threat From Substitute Product
5.2.5 Degree of Competition
6.1 Overview
6.1.1 Global Smart Manufacturing Market Value, 2019 – 2028, (US$ Bn)
6.2 Market Overview
6.2.1 Drivers Analysis
6.2.2 Restraint/Challenges analysis
6.2.3 Opportunity Analysis
6.3 Supply Chain/Value Chain Analysis
6.4 Market SWOT Analysis
7.1 Overview
7.2 Key Findings for Smart Manufacturing Market- By Technology
7.2.1 Smart Manufacturing Market- Supervisory Controller and Data Acquisition (SCADA)
7.2.2 Smart Manufacturing Market- Manufacturing Execution System (MES)
7.2.3 Smart Manufacturing Market- Programmable Logic Controller (PLC)
7.2.4 Smart Manufacturing Market- Distributed Control System (DCS)
7.2.5 Smart Manufacturing Market- Enterprise Resource and Planning (ERP)
7.2.6 Smart Manufacturing Market- Product Lifecycle Management (PLM)
7.2.7 Smart Manufacturing Market- Human Machine Interface (HMI)
8.1 Overview
8.2 Key Findings for Smart Manufacturing Market- By Component
8.2.1 Smart Manufacturing Market- Robotics
8.2.2 Smart Manufacturing Market- Communication Segment
8.2.3 Smart Manufacturing Market- Control Device
8.2.4 Smart Manufacturing Market- Sensor
8.2.5 Smart Manufacturing Market- Machine Vision Systems
9.1 Overview
9.2 Key Findings for Smart Manufacturing Market- By End User
9.2.1 Smart Manufacturing Market- Oil and Gas
9.2.2 Smart Manufacturing Market- Automotive
9.2.3 Smart Manufacturing Market- Pharmaceutical
9.2.4 Smart Manufacturing Market- Chemical and Petrochemical
9.2.5 Smart Manufacturing Market- Metals and Mining
9.2.6 Smart Manufacturing Market- Food and Beverage
10.1 Key Findings for Smart Manufacturing Market- By region
10.2 Overview
10.2.1 Global Smart Manufacturing Market Analysis, By Technology, 2019 – 2028
10.2.2 Global Smart Manufacturing Market Analysis, By Component, 2019 – 2028
10.2.3 Global Smart Manufacturing Market Analysis, By End User, 2019 – 2028
10.3 Smart Manufacturing Market – North America
10.3.1 Overview
10.3.2 U.S.
10.3.3 Canada
10.3.4 Mexico
10.3.5 North America Market, By Technology
10.3.6 North America Market, By Component
10.3.7 North America Market, By End User
10.4 Smart Manufacturing Market – Europe
10.4.1 Overview
10.4.2 Germany
10.4.3 United Kingdom
10.4.4 France
10.4.5 Italy
10.4.6 Rest Of Europe
10.4.7 Europe Market, By Technology
10.4.8 Europe Market, By Component
10.4.9 Europe market by, End User
10.5 Smart Manufacturing Market – Asia Pacific
10.5.1 Overview
10.5.2 China
10.5.3 Japan
10.5.4 India
10.5.5 Rest of APAC
10.5.6 Asia Pacific Market, By Technology
10.5.7 Asia Pacific Market, By Component
10.5.8 Asia Pacific Market, By End User
10.6 Smart Manufacturing Market – LAMEA
10.6.1 Overview
10.6.2 Middle East & Africa (MEA)
10.6.3 Latin America
10.6.4 Rest Of World
10.6.5 Latin America, Middle East and Africa Market, By Technology
10.6.6 Latin America, Middle East and Africa Market, By Component
10.6.7 Latin America, Middle East and Africa Market, By End User
11.1 Market Share/Positioning Analysis
11.1.1 Market Positioning of Key Vendors, 2019
11.1.2 Key Strategies Adopted by the Leading Players
11.1.3 Recent Developments
12.1 ABB
12.1.1 Business Fundamentals
12.1.2 Financial Snapshots
12.1.3 Product Portfolio
12.1.4 Recent Developments
12.2 Rockwell
12.3 Emerson Electric
12.4 Schneider
12.5 Siemens
12.6 IBM
12.7 General Electric
12.8 Honeywell
12.9 Texas Instruments Incorporated
12.10 Mitsubishi Electric Corporation
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies”
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