General Purpose Test Equipment (GPTE) Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, Germany, Japan, Canada - Size and Forecast 2024-2028

General Purpose Test Equipment Market Size 2024-2028

The general purpose test equipment (GPTE) market size is forecast to increase by USD 2.06 billion at a CAGR of 5.55% between 2023 and 2028. The growth of the market depends on several factors, including the growing demand from end-user industries, the continuous technological developments in the communication industry, and the increase in the number of smart-connected devices. General-purpose test equipment refers to a broad category of electronic measurement instruments used for various testing, analysis, and troubleshooting tasks in electronics, telecommunications, and other related fields. These instruments are designed to provide versatile functionality and can be used across different applications. The selection of test equipment depends on the desired measurements, accuracy requirements, and frequency range. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.

What will be the size of the General Purpose Test Equipment (GPTE) Market During the Forecast Period?

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Market Dynamics and Customer Landscape

Instruments used for measuring and analyzing signals in operational processes are essential for ensuring quality, safety, and productivity. Oscilloscopes, signal generators, arbitrary waveform generators, digital multimeters, logic analyzers, power meters, power supplies, modular instruments, and non-destructive test equipment are key GPTE products. The IT & telecommunications sector, vertical segments like automotive, energy, and healthcare, and connected devices such as IoT devices, cars, home appliances, and industrial equipment are significant end-users. Global companies prioritize quality assurance through testing functions and testing teams, managing complex integrations and transformations during product development processes. Technological advancements continue to impact the market, with applications extending to laptops, computers, personal IoT devices, fitness wearables, and the connected world.

Key Market Driver

The increase in the number of smart-connected devices is driving growth in the market. The market is driven by the increasing implementation of automation in various industries, including aerospace, industrial, and electronics. GPTE plays a crucial role in automated control systems, regulating machine movement and ensuring operational processes run efficiently. The reduction in labor expenditure due to the use of automated machines necessitates continuous testing of components, thereby increasing the demand for GPTE in sectors such as food and beverage, manufacturing, automotive, and energy and utilities. Products like oscilloscopes, signal generators, arbitrary waveform generators, digital multimeters, logic analyzers, power meters, power supplies, modular instruments, and non-destructive test equipment are essential for industries seeking quality, safety, productivity, and technological advancements. The IT & telecommunications sector, vertical segments, and end-user industries are integrating GPTE into their product development processes to ensure complex transformations and testing functions are carried out effectively. The increasing use of connected IoT devices, cars, home devices, and industrial equipment in the non-IoT and IoT sectors necessitates rigorous testing, further driving the demand for GPTE. Global companies rely on GPTE for quality assurance and testing teams to ensure the successful integration of GPTE into their product development processes and the connected world.

Significant Market Trends

The growing adoption of modular GPTE is a key trend in the market. The market is witnessing significant growth due to advancements in electronics and test and measurement technologies. Modular GPTE is increasingly preferred by end-users in various industries, including aerospace, industrial, and electronics, to enhance the lifespan of their equipment, minimize repair and maintenance costs, and boost operational efficiency. The complexity of signals and operational processes in these industries necessitates the use of high-quality, safe, and productive GPTE, such as oscilloscopes, signal generators, arbitrary waveform generators, digital multimeters, logic analyzers, power meters, and power supplies. The IT & telecommunications sector, vertical segment, and non-IoT devices are significant contributors to the GPTE market. With the proliferation of connected IoT devices, connected cars, smart home devices, and connected industrial equipment, the demand for GPTE is expected to increase. Global companies in the electronics industry focus on quality assurance and testing functions, employing testing teams to manage complex integrations and transformations during product development processes. Technological advancements continue to drive the need for upgrading GPTE to keep pace with the latest electronics and communication devices, protocols, and standards.

Major Market Restrain

The long replacement cycle of GPTE is a major challenge faced by the market. The market encompasses instruments used for measuring and analyzing various signals in industries such as Aerospace, Industrial, and Electronics. GPTE includes oscilloscopes, signal generators, arbitrary waveform generators, digital multimeters, logic analyzers, power meters, power supplies, modular instruments, and non-destructive test equipment. These products are essential for ensuring quality, safety, and productivity in operational processes. GPTE is typically used in the IT & telecommunications sector and various vertical segments, including the Industrial, IoT, and non-IoT devices industries. In the IoT sector, GPTE is used for testing connected devices such as cars, smart homes, and industrial equipment. In the non-IoT devices industry, GPTE is used for testing laptops, computers, personal IoT devices, and fitness wearables. GPTE has a long lifespan due to its high quality and the infrequent need for replacement. When malfunctions occur, only the affected part needs to be replaced instead of the entire system. This is particularly important for large machinery. The testing functions performed by GPTE are crucial for global companies in various end-user industries, including quality assurance and testing teams, complex integrations, transformations, and product development processes. Technological advancements continue to drive the need for GPTE in various industries, ensuring the connected world remains reliable and efficient.

Customer Landscape

The General Purpose Test Equipment (GPTE) Market industry report includes the adoption lifecycle of the market, covering 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.

Customer Landscape

Market Segmentation

By Product

The market share growth by the oscilloscope segment will be significant during the forecast period. An oscilloscope is a testing and measuring equipment used to monitor voltage or current passed to or from an electric component or device. Oscilloscopes, in general, mainly apply to display and analyze waveforms of electrical signals. 

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The oscilloscope segment showed a gradual increase in the market share of USD 1.66 billion in 2018. Oscilloscopes are also used for time and voltage measurement, bandwidth measurement, differential measurement, and phase and rise time measurement. In addition, They're useful in a particular way, for example, to analyze automotive ignition systems. An oscilloscope is a type of test instrument that measures and monitors the voltage or current sent or received by an electrical device.

A spectrum analyzer is a type of testing equipment that measures the amplitude of an input signal as a function of frequency within the specified frequency range that the instrument defines. It is used to measure and analyze the power spectrum of signals on different parameters. Spectrum analyzers are used in the manufacture, design, and use of field services or repairs on electrical equipment. The growing demand for wireless technologies, as well as the increased demand for multitasking capabilities in the vehicle industry, is contributing to the growth of the spectrum analyzers segment, which will propel the growth of the general purpose test equipment market during the forecast period.

Regional Overview

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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is primarily driven by the communication, industrial, medical devices, electronics and semiconductors, and aerospace and defense sectors. Producing firms in these industries require substantial capital for repair, calibration, and testing workloads. Breakthrough technologies, such as those used in wearable devices like smartwatches, and data collection for prediction and proactive treatment in precision medicine, further fuel the demand. Consumers worldwide, including physicians and those in need of medications and treatments, benefit from the accuracy and precision offered by GPTE. In APAC, the growth of industries, competitive manufacturing costs, and high economic growth attract global players to expand their businesses. Key sectors include genomics, AI, electric vehicles (EVs), and their respective homologation testing and charging interfaces, as well as back-office systems.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Advantest Corp. - The company offers general-purpose test equipment such as eva100, air logger, and v93000.

Agilent Technologies Inc. - The company offers general-purpose test equipment such as oscilloscopes, telecom line testers, and multimeters.

Anritsu Corp. - The company offers general-purpose test equipment such as force gauges, MT series manual test stands, and contacting extensometers.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Advantest Corp.
• Agilent Technologies Inc.
• Anritsu Corp.
• Aplab Ltd.
• Danaher Corp.
• Keysight Technologies Inc.
• Lauterbach GmbH
• National Instruments Corp.
• Rohde and Schwarz GmbH and Co. KG
• Scientech Technologies Pvt. Ltd.
• Seaward Electronic Ltd.
• SGS SA

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments

• Product Outlook 
  • Oscilloscope
  • Spectrum analyzer
  • Signal generator
  • Network analyzer
  • Multimeter and others

• End-user Outlook 
  • Communication
  • Industrial
  • Aerospace and defense
  • Electronics and semiconductor
  • Others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

Market Analyst Overview

The market is a significant sector in the global technology industry. This market encompasses a wide range of instruments used to test and measure various electrical and electronic parameters. The market caters to diverse industries such as telecommunications, automotive, energy, and consumer electronics. The increasing demand for advanced technology and the need for quality control in manufacturing processes are key drivers for the market. Moreover, the continuous evolution of technology and the development of new testing requirements are creating new opportunities for market growth. The market is highly competitive, with several key players offering innovative solutions to meet the evolving needs of their customers.

The market is expected to grow at a steady pace in the coming years, driven by the increasing demand for advanced testing solutions and the need for quality control in various industries. The market is also expected to be influenced by factors such as technological advancements, regulatory requirements, and cost-effectiveness. Overall, the market is an essential component of the technology ecosystem, enabling the development and deployment of advanced technologies in various industries. The market offers comprehensive solutions for testing electronic and mechanical systems, electronic devices under test (DUTs), and mechanical test equipment (MTE), complemented by machine vision inspection systems and machine condition monitoring systems.

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What are the Key Data Covered in this Market Research Report?

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

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