RF Test Equipment Market worth $4.6 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 6, 2022 /PRNewswire/ -- The global RF test equipment market is projected to reach USD 4.6 billion by 2027 from USD 3.5 billion in 2022, growing at a CAGR of 6.1% from 2022 to 2027 according to a new report by MarketsandMarkets™. Surging adoption of wireless systems in residential and commercial buildings, growing number of IoT-connected devices, and increasing use of 5G-compatible devices are some of the major factors driving the RF test equipment market growth globally.
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Oscilloscopes to account for the largest share of the RF test equipment market during forecast period
The increasing deployment of modular equipment with high bandwidth and the improved user interface are major factors driving the growth of the market for oscilloscopes. The deployment of wireless networks and 5G and the increased adoption of network-based devices for faster communication are expected to provide growth opportunities for market players offering oscilloscopes. In recent years, the market for modular oscilloscopes has witnessed significant growth owing to the increasing use of modular instruments such as oscilloscopes, waveform generators, digital multimeters, power supplies, and switches.
RF test equipment with a frequency range of more than 6 GHz to register highest CAGR during forecast period
The rising use of 5G technology-based devices has led to a surge in demand for RF test equipment, creating opportunities for market players to launch advanced products suitable for various applications. The growing adoption of 5G technology in applications such as connected cars and mobile services and increasing 5G mobile subscriptions are expected to provide opportunities for the providers of RF test equipment, especially with a frequency of more than 6 GHz.
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Asia Pacific to register the highest growth in the RF test equipment market during the forecast period
The presence of established connectivity solution providers, such as Huawei (China), Renesas (Japan), etc. in Asia Pacific and the constantly growing smartphone subscriptions in the region are the major factors for the dominant position of Asia Pacific in the RF test equipment market. Moreover, China, being a global manufacturing hub for consumer elecronic products, provides lucrative opportunities for the providers of RF test equipment.
The key players profiled in the report include Keysight Technologies, Inc. (US), Anritsu Group (Japan), Rohde & Schwarz (Germany), Tektronix, Inc. (US), Teledyne Technologies Incorporated (US), Berkeley Nucleonics Corporation (US), AnaPico (Switzerland), B&K Precision Corporation (US), National Instruments Corporation (US), Boonton Electronics (US), Tabor Electronics Ltd. (Israel).
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