Launch of New Next Generation Electronic Equipment, Growing Popularity of Active Network Monitoring & the Ensuing Need to Validate Performance to Drive Demand for General Purpose Electronics Test & Measurement Instruments

Growing need to validate the functioning and performance of both data networks and a wide range of electronic equipment is poised to drive the global General Purpose Electronic Test and Measurement Instruments market to reach US$9.8 billion by 2024.

Electronic Test and Measurement (T&M) instruments industry has long entrenched itself as an indispensable platform for validating functioning and performance of a wide gamut of electronic products, right from the product design, development and architecture stage to production testing, and pre and post market testing & support stage. With electronic gadgets shrinking in size and featuring advanced wireless capabilities, thus gaining in complexity, testing becomes a more complicated and a vital process for manufacturing, presenting a major opportunity for testing manufacturers. Testing in manufacturing, maintenance and support now are as crucial as opportunities in research and development. Stringent and increasingly rigorous quality, safety and environmental standards worldwide for manufacturing, maintenance, and use of material and equipment have driven, and will continue to drive gains in the electronic test and measurement instruments market.

Though popularly regarded as a mature market, general purpose electronic T&M instruments worldwide will continue to be driven by the need to design and develop cutting edge new generation products recalibrated to meet the changing requirements of new and emerging technologies in end-use markets. Future growth will stem largely from technology developments and new product launches in key end-use markets. Growth opportunities will also emerge from the new wave of technologies making the transition from product R&D to manufacturing and finally deployment stages. Also driving demand for electronic T&M instruments will be the growing degree of complexity and increasing technology convergence being witnessed in various industry verticals, specifically in computing, communications and semiconductors industries along with automotive and industrial sectors. Growth opportunities in the electronic test and measurement (T&M) instruments market are anticipated to emerge from the next wave of developments in the areas of autonomous driving, Internet of Things (IoT), 5G network, millimeter wave (mm wave) frequencies, power applications, data centers, and high-speed digital standards. The development efforts in the field of autonomous driving technologies is leading to high demand for novel test and measurement approaches for addressing emerging needs through automation and also for providing comprehensive systems for covering various mechanical, software and electrical aspects.

As stated by the new market research report on General Purpose Electronic Test and Measurement Instruments, the United States represents the largest regional market, worldwide. Fueled by the rapid growth in the country’s automobile industry, the US is witnessing rising demand for T&M instruments. Growing disposable incomes of households and increasing manufacturing capabilities of the automotive industry are expected to emerge as the primary factors triggering future in the region. Asia-Pacific is forecast to register the fastest CAGR of 7.8% over the analysis period. Huge population, rising disposable incomes, increasing manufacturing activity, thriving telecom sector, and strong penetration of advanced mobile devices in several Asian countries make the region a market laden with tremendous potential for test equipment. Robust growth of the communication industry and the expanding 4G network are fueling growth in the Asia-Pacific T&M equipment market.

Major players in the market include Advantest Corporation, Anritsu Corporation, AstroNova Inc., B&K Precision Corporation, Fluke Corporation, Tektronix Inc., GaGe Applied Technologies Inc., Good Will Instrument Co. Ltd., Hioki E. E. Corporation, Ideal Industries Inc., Keysight Technologies Inc., National Instruments Corporation, Pico Technology, Rohde & Schwarz GmbH & Co. KG, Spanawave Corporation, Stanford Research Systems Inc., Teledyne LeCroy Inc., Thurlby Thandar Instruments Limited, VIAVI Solutions Inc., Boonton Electronics, and Yokogawa Electric Corporation, among others.

The research report titled “General Purpose Electronic Test and Measurement Instruments – Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America, and Rest of World. In value terms, the report is analyzed by Product Group/Segment – Multimeters, Logic Analyzers, Signal Generators (Radio Frequency Signal Generators, Microwave Signal Generators, Arbitrary Waveform Generators), Oscilloscopes (Digital Oscilloscopes, Analog Oscilloscopes, PC-Based Oscilloscopes), Spectrum Analyzers, Network Analyzers, Extension Based, and Others; and by End-Use Industry – Communications, Aerospace & Military/Defense, Electronics Manufacturing, Industrial Electronics & Automotive, and Others. In volume terms, the General Purpose Electronic Test and Measurement Instruments market is analyzed by the Product Segments – Multimeters, Logic Analyzers, Signal Generators, Oscilloscopes, Spectrum Analyzers, Network Analyzers, Extension Based, and Others.

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