- Research and Markets announces the availability of a report “Test and Measurement Equipment Market – Global Forecast to 2023”.
- This report on sales of test and measurement instruments and related services, by product and application as well as by geographic area.
- According to Research and Markets, the global electronic test and measurement market will grow between 2017 and 2023 to nearly $29 billion.
The market for electronic test and measurement equipment is expected to reach $28.98 billion by 2023, compared to $23.51 billion in 2017, representing an average annual growth rate of 3.55%.
According to Research and Markets, this growth is driven by several factors:
- Increased penetration of modular instrumentation
- Increasing technological advances towards networking and communication
- The adoption of more electronic devices
- Increasing R&D spending.
The modular instrumentation market is expected to experience the highest annual growth rate between 2017 and 2023.
The main factors contributing to this growth are, according to Research and Markets:
- Increased production and consumption in the automotive sector
- Technological advances related to 5G solutions in the IT and telecommunications sectors
- Growing stakeholder interest in industry 4.0 and intelligent applications.
Vision inspection solutions is expected to hold the largest share of the market during the forecast period.
This market is driven by:
- The growing adoption of 3D machine vision systems
The significant need for automated quality inspection equipements
- Increased demand for vision-guided robotic systems and machine vision solutions adapted to specific applications.
- Integration of machine vision solutions for future intelligent transport vehicles and autonomous cars.
Companies Mentioned : Adlink, Advantest, Ametek, Anritsu, B&K Precision, Cobham, DS Instruments, Dynamicsignals, Exfo, Fortive, Freedom Communication, Giga-Tronics, Gw Instek, Keysight, Leader Instruments, National Instruments, Rigol, Rohde & Schwarz, Saluki, Stanford Research Systems, Teledyne, Texas Instruments, Vaunix, Viavi, Yokogawa Electric.