Test and Measurement Equipment Market in APAC to grow by USD 1.79 billion from 2021 to 2026|Driven by Expansion of Telecommunication Networks | Technavio
NEW YORK, April 14, 2022 /PRNewswire/ -- The test and measurement equipment market in APAC is set to grow by USD 1.79 billion from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 5.3% as per the latest market report by Technavio. The test and measurement equipment market share growth in APAC by the GPTE segment is significant for revenue generation. One major reason for the high market share of the segment in APAC is the increased demand for electronic products in the region. The volume sales of consumer electronics are expected to increase in the forecast years owing to the development of new and updated electronic products.
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Test and measurement equipment market in APAC: Scope
The test and measurement equipment market in APAC covers the following areas:
Test and measurement equipment market in APAC: Drivers & Challenges
The key factor driving the T and M equipment industry in Asia-Pacific (APAC) growth is the expansion of telecommunication networks. According to Global System for Mobile Communications Association (GSMA), China's 5G connections are expected to reach 893 million by 2025. In addition, mobile data traffic is expected to grow from 12 GB/ smartphone/ month in 2020 to 37 GB/smartphone/month. The rise in Internet traffic is attributed to the increase in mobile Internet subscribers and the sales of smartphones in the region. The standardization of the 5G telecommunication network ahead of schedule is expected to increase the investment in cell tower and network infrastructure upgrading during the forecast period. There has been a continuous expansion of 4G networks in APAC. It is expected that 4G networks will be available to 69% of the population in APAC by 2025. These factors are expected to drive the demand for T&M equipment in APAC during the forecast period.
However, the key challenges to the test and measurement equipment industry in APAC growth are the rising demand for rental T and M equipment and outsourcing due to the emergence of new third-party service providers. Although significant demand for T&M equipment arises from field applications, the R&D, manufacturing, and standalone projects represent considerable scope for growth of T&M rental and outsourcing. For instance, the global SATS market witnesses many vendors opting for outsourcing packaging and testing operations of semiconductor and chipset devices to dedicated service providers. The adoption of T&M equipment renting and outsourcing is expected to continue to grow in the future, especially among small- and medium-scale enterprises due to the limited capital budget and low cost of T&M equipment rental and outsourcing. This will negatively affect the sales revenue of vendors in the T&M equipment market during the forecast period.
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Test and measurement equipment market in APAC: Segmentation Analysis
The test and measurement equipment market in APAC analysis includes segmentation by product (GPTE, ATE, WTE, calibration, and others), end-user (electronics, communication, general industry, A and D, and others), and geography (Japan, South Korea, China, Taiwan, and Rest of APAC).
Technavio report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
The test and measurement equipment market in APAC is fragmented and the vendors are deploying growth strategies such as technological innovations to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
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