- Global Industry Analysts offers a market study titled “General Purpose Electronic Test and Measurement Instruments – Global Market Trajectory & Analytics”.
- According to this study, the global market for general purpose electronic test and measurement instruments will reach $9.4 billion by 2025.
Electronic test and measurement (T&M) instruments have long established themselves as indispensable tools for validating the function and performance of a wide range of electronic products, from product design, development, and architecture to production testing, pre- and post-market testing and support. As electronic devices become more compact and have advanced wireless capabilities, their complexity increases. Their testing is becoming more complex as a result. This represents a major opportunity for test instrument manufacturers.
In the context of COVID-19, the global market for general purpose electronic test and measurement instruments is expected to reach US$9.4 billion by 2025, growing at a compound annual growth rate (CAGR) of 5.2% over the analysis period.
The U.S. represents the largest market for general purpose electronic test and measurement instruments, with an estimated 31.6% share of the global market. The U.S. market is expected to reach US$2.8 billion by the end of 2025. China is expected to register the fastest growth with a CAGR of 8.5% over the analysis period.
The growth of the global market is expected to be driven by the increasing adoption of modular T&M equipment. Another factor driving the market growth is the increasing demand for T&M instruments from the telecommunication industry which is expanding worldwide. This sector uses instruments to test protocols and standards for LTE networks in particular. Continued expansion of data traffic, increasing smartphone penetration, growing adoption of broadband services, and 5G technology are the important factors that would continue to drive the demand of this market.
The growth of equipment in the communications sector would outpace that of the electronics, semiconductor, aerospace, defense, and industrial segments. In countries around the world, communications industries are also investing in the development of new networks to handle the rapid increase in IP traffic, which bodes well for the electronic test and measurement market. Data centers are also growing in number around the world. Micro-mobile data centers, in particular, are emerging for edge computing applications, which should further drive demand for T&M equipment.