According to Technavio, the global market for electronic test and measurement will grow between 2016 and 2021 from $19.17 billion (approximately €16 billion) to $23 billion (approximately €19.3 billion), an increase of $3.83 billion (approximately €3.2 billion and 20% growth over the period).
- Worldwide, the American continent has the largest market share, with 37% of the market in 2016.
- The wireless communication equipment test sector had the highest market share in 2016 at almost 35%.
- Technavio estimates the Defence and Aeronautics market at approximately $5 billion (approximately €4.27 billion).
According to Technavio, the global market for electronic test and measurement is fragmented due to the presence of a diversity of international, regional and local suppliers. Several local and regional vendors have begun to offer solutions dedicated to specific applications for various end-users.
The competitive environment in this market is expected to intensify as technological innovations and mergers and acquisitions operations continue to increase, with companies in the sector using them to retain significant market share.