Test and measurement market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation- Technavio

NEW YORK, Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the global test and measurement market size is estimated to grow by USD 9,119.5 million from 2022 to 2027. However, the growth momentum of the market will accelerate at a CAGR of  5.1%. North America will account for 36% of the growth of the global market during the forecast period. 

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Global test and measurement market - Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Global test and measurement market – Customer Landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global test and measurement market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on products (Wireless test equipment, GPTE, Semiconductor test equipment, and Real-time test equipment), and end-user (Aerospace and Defense, Telecommunication, Semiconductor and electronics, and Others). 

• The wireless test equipment segment will grow at a significant rate during the forecast period. There will be a huge demand for such testing equipment due to the increase in smartphone demand. This wireless testing and measuring equipment is used by mobile phone manufacturers to test their phones based on various technology formats, such as LTE, global system for mobile communications (GSM), worldwide interoperability for microwave access (WiMAX), and general packet radio service (GPRS). In addition, the development of 5G technologies will create a great impact in developed regions like North America and Europe, which will drive the global market. Therefore, such factors will boost segment growth during the forecast period. 

Geography Overview
By geography, the global test and measurement market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global test and measurement market.

• North America is estimated to account for 36% of the growth of the global market during the forecast period. This is because of the growth of telecommunication, healthcare, manufacturing, and other sectors in the US and the high spending on defense aircraft by the country's government. The automotive industry in the US also contributes significantly to market growth in the country, owing to the high adoption of advanced equipment. Various manufacturers from different industries are focusing on establishing their operations in the US owing to its abundant natural resources, political stability, highly educated and productive workforce, and business-conducive environment. Canada and Mexico are also significant revenue contributors to the market in North America due to the increasing demand for test and measurement equipment from the communications and electronic sectors.

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Global test and measurement market – Market Dynamics
Key factor driving market growth

• The increase in the number of smart-connected devices is notably driving the test and measurement equipment market growth. 
• The performance of smart consumer electronics products is optimized through technological advances and innovations such as a 4K display and surface-mount technology (SMT) components, and they are connected over a network.
• The functionality of these innovations depends on the performance of the components and internal circuits.
• Furthermore, most of the technologies depend on digital processing and require testing before they are launched in the market.
• Therefore, the development of smart consumer electronics products is estimated to increase the demand for such equipment which is expected to fuel the growth of the global market during the forecast period.

Leading trends influencing the market 

• Recent development in test and measurement equipment are emerging trends in the test and measurement equipment market. 
• The global market is witnessing a range of new product launches owing to the increase in demand. The new product will further motivate consumers to purchase such equipment.
• Furthermore, these new product launches also increase the competition in the market, which, in turn, will lead to innovation and differentiation. 
• One of the important product launches in 2021 have been by Viavi Solutions Inc. (VIAVI Solutions).
• It announced the launch of the new fiber test and measurement solutions, expanding the industry's most complete portfolio for fiber-optic testing. Such types of developments are expected to fuel the growth of the global market during the forecast period.

Major challenges hindering the market growth

• Economic volatility and the highly cyclic nature of the electronics industry are major challenges impeding test and measurement equipment market growth. 
• The sale of electronic goods and equipment is highly cyclic in nature, and their demand varies greatly with the economy, due to which the industry may have wide fluctuations in unit demand for their products. Since the cycle of technology and seasonal demand is largely unpredictable, it becomes a challenge for many companies to adjust rapidly to changes in market conditions.
• One of the major drivers for the short lifecycle of smartphones and other electronic devices these days is that when a new product with novel features is launched, people are compelled to upgrade to these latest devices. But, this trend is very hard to maintain for long periods of time as technological limitations grow closer.
• The lack of additional new features or technological changes in devices will ultimately lead to restrained demand for electronic devices. Hence, such factors are expected to hamper the growth of the global market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact
businesses. Find more insights in a sample report!

What are the key data covered in this test and measurement market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the test and measurement market between 2023 and 2027
• Precise estimation of the test and measurement market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the test and measurement market across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of test and measurement market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global test and measurement market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global test and measurement market 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Wireless test equipment - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Wireless test equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Wireless test equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Wireless test equipment - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Wireless test equipment - Year-over-year growth 2022-2027 (%)

• 6.4 GPTE - Market size and forecast 2022-2027 
• Exhibit 38: Chart on GPTE - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on GPTE - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on GPTE - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on GPTE - Year-over-year growth 2022-2027 (%)

• 6.5 Semiconductor test equipment - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Semiconductor test equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Semiconductor test equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Semiconductor test equipment - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Semiconductor test equipment - Year-over-year growth 2022-2027 (%)

• 6.6 Real-time test equipment - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Real-time test equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Real-time test equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Real-time test equipment - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Real-time test equipment - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Product 
• Exhibit 50: Market opportunity by Product ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 51: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 52: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 53: Chart on Comparison by End-user
• Exhibit 54: Data Table on Comparison by End-user

• 7.3 Aerospace and defense - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Aerospace and defense - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Aerospace and defense - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Aerospace and defense - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Aerospace and defense - Year-over-year growth 2022-2027 (%)

• 7.4 Telecommunication - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Telecommunication - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Telecommunication - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Telecommunication - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Telecommunication - Year-over-year growth 2022-2027 (%)

• 7.5 Semiconductor and electronics - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Semiconductor and electronics - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Semiconductor and electronics - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Semiconductor and electronics - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Semiconductor and electronics - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by End-user 
• Exhibit 71: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 73: Chart on Market share by geography 2022-2027 (%)
• Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 75: Chart on Geographic comparison
• Exhibit 76: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 109: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 South Korea - Market size and forecast 2022-2027 
• Exhibit 113: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 114: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 115: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 116: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 117: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 118: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 120: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 121: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 122: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 123: Matrix on vendor position and classification

• 12.3 Advantest Corp.
• Exhibit 124: Advantest Corp. - Overview
• Exhibit 125: Advantest Corp. - Business segments
• Exhibit 126: Advantest Corp. - Key offerings
• Exhibit 127: Advantest Corp. - Segment focus

• 12.4 Anritsu Corp.
• Exhibit 128: Anritsu Corp. - Overview
• Exhibit 129: Anritsu Corp. - Business segments
• Exhibit 130: Anritsu Corp. - Key news
• Exhibit 131: Anritsu Corp. - Key offerings
• Exhibit 132: Anritsu Corp. - Segment focus

• 12.5 EXFO Inc.
• Exhibit 133: EXFO Inc. - Overview
• Exhibit 134: EXFO Inc. - Product / Service
• Exhibit 135: EXFO Inc. - Key offerings

• 12.6 Fastech Telecommunications 
• Exhibit 136: Fastech Telecommunications - Overview
• Exhibit 137: Fastech Telecommunications - Product / Service
• Exhibit 138: Fastech Telecommunications - Key offerings

• 12.7 Good Will Instrument Co. Ltd. 
• Exhibit 139: Good Will Instrument Co. Ltd. - Overview
• Exhibit 140: Good Will Instrument Co. Ltd. - Product / Service
• Exhibit 141: Good Will Instrument Co. Ltd. - Key offerings

• 12.8 Keysight Technologies Inc. 
• Exhibit 142: Keysight Technologies Inc. - Overview
• Exhibit 143: Keysight Technologies Inc. - Business segments
• Exhibit 144: Keysight Technologies Inc. - Key news
• Exhibit 145: Keysight Technologies Inc. - Key offerings
• Exhibit 146: Keysight Technologies Inc. - Segment focus

• 12.9 National Instruments Corp. 
• Exhibit 147: National Instruments Corp. - Overview
• Exhibit 148: National Instruments Corp. - Product / Service
• Exhibit 149: National Instruments Corp. - Key news
• Exhibit 150: National Instruments Corp. - Key offerings

• 12.10 Premier Measurement Solutions Pvt. Ltd. 
• Exhibit 151: Premier Measurement Solutions Pvt. Ltd. - Overview
• Exhibit 152: Premier Measurement Solutions Pvt. Ltd. - Product / Service
• Exhibit 153: Premier Measurement Solutions Pvt. Ltd. - Key offerings

• 12.11 Qmax Test Equipments Pvt. Ltd. 
• Exhibit 154: Qmax Test Equipments Pvt. Ltd. - Overview
• Exhibit 155: Qmax Test Equipments Pvt. Ltd. - Product / Service
• Exhibit 156: Qmax Test Equipments Pvt. Ltd. - Key offerings

• 12.12 Rohde and Schwarz GmbH and Co. KG 
• Exhibit 157: Rohde and Schwarz GmbH and Co. KG - Overview
• Exhibit 158: Rohde and Schwarz GmbH and Co. KG - Product / Service
• Exhibit 159: Rohde and Schwarz GmbH and Co. KG - Key offerings

• 12.13 Scientech Technologies Pvt. Ltd. 
• Exhibit 160: Scientech Technologies Pvt. Ltd. - Overview
• Exhibit 161: Scientech Technologies Pvt. Ltd. - Product / Service
• Exhibit 162: Scientech Technologies Pvt. Ltd. - Key offerings

• 12.14 SPX Corp.
• Exhibit 163: SPX Corp. - Overview
• Exhibit 164: SPX Corp. - Business segments
• Exhibit 165: SPX Corp. - Key offerings
• Exhibit 166: SPX Corp. - Segment focus

• 12.15 Teradyne Inc.
• Exhibit 167: Teradyne Inc. - Overview
• Exhibit 168: Teradyne Inc. - Business segments
• Exhibit 169: Teradyne Inc. - Key news
• Exhibit 170: Teradyne Inc. - Key offerings
• Exhibit 171: Teradyne Inc. - Segment focus

• 12.16 Thermo Fisher Scientific Inc. 
• Exhibit 172: Thermo Fisher Scientific Inc. - Overview
• Exhibit 173: Thermo Fisher Scientific Inc. - Business segments
• Exhibit 174: Thermo Fisher Scientific Inc. - Key news
• Exhibit 175: Thermo Fisher Scientific Inc. - Key offerings
• Exhibit 176: Thermo Fisher Scientific Inc. - Segment focus

• 12.17 Yokogawa Electric Corp. 
• Exhibit 177: Yokogawa Electric Corp. - Overview
• Exhibit 178: Yokogawa Electric Corp. - Business segments
• Exhibit 179: Yokogawa Electric Corp. - Key offerings
• Exhibit 180: Yokogawa Electric Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 181: Inclusions checklist
• Exhibit 182: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 183: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 184: Research methodology
• Exhibit 185: Validation techniques employed for market sizing
• Exhibit 186: Information sources

• 13.5 List of abbreviations 
• Exhibit 187: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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