Test And Measurement Market Size 2025-2029
The test and measurement market size is valued to increase USD 10.94 billion, at a CAGR of 5.4% from 2024 to 2029. Growing demand from end-user industries will drive the test and measurement market.
Major Market Trends & Insights
- APAC dominated the market and accounted for a 34% growth during the forecast period.
- By Product - Wireless test equipment segment was valued at USD 10.62 billion in 2023
- By End-user - Aerospace and defense segment accounted for the largest market revenue share in 2023
Market Size & Forecast
- Market Opportunities: USD 54.53 billion
- Market Future Opportunities: USD 10.94 billion
- CAGR : 5.4%
- APAC: Largest market in 2023
Market Summary
- The market encompasses a diverse range of technologies and applications, driven by the continuous demand for accurate and reliable data in various industries. Core technologies, such as data acquisition systems and signal conditioning, form the backbone of this market, while applications span sectors like automotive, healthcare, and energy. Notably, the market is witnessing significant growth in the adoption of modular test and measurement equipment, driven by its flexibility and cost-effectiveness. Furthermore, the rising trend of rental test and measurement equipment and outsourcing services is adding impetus to the market's expansion.
- According to a recent study, the rental market for test and measurement equipment is projected to grow at a steady rate, accounting for over 20% of the overall market share. This evolving landscape presents numerous opportunities for market participants while posing challenges related to regulatory compliance and technological advancements.
What will be the Size of the Test And Measurement Market during the forecast period?
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How is the Test And Measurement Market Segmented and what are the key trends of market segmentation?
The test and measurement industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
- Product
- Wireless test equipment
- GPTE
- Semiconductor test equipment
- Real-time test equipment
- Mechanical Test Equipment
- End-user
- Aerospace and defense
- Telecommunication
- Semiconductor and electronics
- Others
- Service Type
- Calibration services
- Repair/After-sales services
- Others
- Application
- Signal Generators
- Oscilloscopes
- Spectrum Analyzers
- Network Analyzers
- Geography
- North America
- US
- Canada
- Europe
- France
- Germany
- UK
- APAC
- China
- India
- Japan
- South Korea
- South America
- Brazil
- Rest of World (ROW)
- North America
By Product Insights
The wireless test equipment segment is estimated to witness significant growth during the forecast period.
The market encompasses various techniques and technologies, including signal processing, sensor calibration, root cause analysis, statistical process control, reproducibility studies, test automation frameworks, fault isolation, test equipment validation, validation testing, predictive maintenance, error analysis methods, data logging software, compliance testing, accuracy validation, diagnostic testing, instrumentation systems, measurement uncertainty, acceptance testing, functional testing, calibration standards, data acquisition systems, precision measurement, stress testing, fault detection, reliability testing, regression testing, durability testing, signal integrity, quality control metrics, prognostic testing, system integration testing, and noise reduction methods. The market is experiencing substantial growth, with the wireless test equipment segment witnessing a notable expansion.
This expansion is primarily driven by the evolving telecommunications industry. In recent years, the telecommunications sector has undergone significant transformations, with the increasing demand for smartphones being a significant factor. Wireless test and measurement equipment is essential for mobile phone manufacturers to ensure their devices meet various technology standards, such as LTE, GSM, WiMAX, and GPRS. Furthermore, the market is expected to continue expanding, with numerous sectors, including automotive, healthcare, energy, and manufacturing, adopting advanced testing solutions. For instance, the automotive industry is increasingly relying on test and measurement technologies for vehicle safety and performance testing.
In the healthcare sector, these solutions are used for medical device testing and quality assurance. In the energy sector, test and measurement technologies play a crucial role in ensuring the efficiency and reliability of power generation and distribution systems. Moreover, the market's continuous evolution is reflected in the increasing adoption of advanced testing methodologies, such as predictive maintenance, which enables organizations to proactively address potential equipment failures and minimize downtime. Additionally, the integration of artificial intelligence and machine learning technologies is enhancing the capabilities of test and measurement solutions, enabling more accurate and efficient testing processes.
According to recent industry reports, the market is expected to grow by approximately 12% in the upcoming year, with the wireless test equipment segment accounting for a significant portion of this growth.
The Wireless test equipment segment was valued at USD 10.62 billion in 2019 and showed a gradual increase during the forecast period.
Regional Analysis
APAC is estimated to contribute 34% 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.
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The North American the market is experiencing substantial expansion, driven by the US as its primary revenue generator. This growth is attributed to the expansion of sectors such as telecommunications, healthcare, manufacturing, and the automotive industry. The US market's sizeable contribution is due to its abundant natural resources, political stability, and highly skilled workforce. The telecommunications sector's advancements in 5G technology and the healthcare industry's increasing focus on precision medicine are significant factors fueling market growth.
Additionally, the manufacturing sector's adoption of Industry 4.0 technologies and the automotive industry's emphasis on advanced test and measurement equipment are further driving market expansion.
Market Dynamics
Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market encompasses a vast array of technologies and applications, focusing on ensuring accuracy and precision in various industries. Key components of this market include automated test equipment calibration, statistical analysis of measurement data, and signal conditioning techniques to mitigate noise. Real-time data acquisition systems enable instantaneous assessment, while sensor network deployment strategies expand the scope of monitoring and analysis. Integration of data analytics platforms and test automation frameworks streamlines processes and enhances efficiency. Quality control procedures and metrology traceability standards compliance are essential for maintaining consistency and accuracy. Calibration laboratory accreditation processes ensure reliability and trustworthiness, while advanced signal processing algorithms and design of experiments statistical software facilitate more accurate and efficient testing.
Performance testing methodologies and techniques, such as hardware-in-the-loop simulation setups and software-in-the-loop testing environments, are crucial for optimizing system functionality. Predictive maintenance models and fault detection isolation algorithms enable proactive identification and resolution of issues, reducing downtime and increasing productivity. Root cause analysis methodologies and process optimization techniques automation further enhance operational efficiency. More than 70% of new product developments in the market focus on the industrial sector, accounting for a significantly larger share compared to the academic segment. This trend underscores the growing importance of test and measurement solutions in driving industrial innovation and efficiency.
By providing research-backed insights and addressing business-relevant questions, this report offers valuable information for stakeholders seeking to capitalize on the market's dynamics.
What are the key market drivers leading to the rise in the adoption of Test And Measurement Industry?
- The primary catalyst for market expansion is the escalating demand from various end-user industries.
- The market experiences significant growth as various industries, including aerospace and defense, telecommunications, semiconductor and electronics, and others, increasingly rely on advanced technology. Test and measurement equipment is a crucial component in automated control systems, ensuring the proper functioning of machines and systems. The shift towards automated machines in industrial applications reduces labor expenses and enhances efficiency. Consequently, the demand for test and measurement equipment escalates in sectors like food and beverage, manufacturing, automotive, and energy and utilities. These industries require continuous testing of components to maintain optimal performance and productivity.
What are the market trends shaping the Test And Measurement Industry?
- The increasing prevalence of modular test and measurement equipment represents a significant market trend. This trend reflects the growing demand for flexible, efficient, and cost-effective solutions in various industries.
- The modular the market is witnessing significant growth due to the increasing adoption of electronics and advancements in test and measurement technology. Modular instrumentation, a key trend in this market, offers numerous benefits to end-users. By sharing components like chassis and power supplies among various instrument modules, modular systems reduce the need for duplicate components, thereby lowering costs and improving operational efficiency. This approach also enhances the service life of test and measurement equipment. The modular design allows for easy upgrades and customization, enabling organizations to adapt to evolving testing requirements and industry standards.
- Moreover, the flexibility of modular systems facilitates seamless integration with other systems and networks, ensuring compatibility and interoperability. These advantages make modular test and measurement equipment a preferred choice for various industries, including automotive, telecommunications, and energy, among others.
What challenges does the Test And Measurement Industry face during its growth?
- The rental market for test and measurement equipment and the increasing trend towards outsourcing pose significant challenges to the industry's growth, with rising demand in both areas placing pressure on companies to adapt and innovate in order to remain competitive.
- The market experiences ongoing challenges due to the increasing preference for rental equipment and outsourcing. According to industry reports, rental usage among end-users has surged, reaching approximately 40% of the total market. This trend has hindered market growth as companies opt to reduce operational costs by outsourcing test and measurement activities to third-party facilities. With technology cycles evolving rapidly, manufacturers in various industries are hesitant to invest in short-lived capital goods and equipment. Renting test and measurement equipment offers end-users significant cost savings and access to the latest technology. This arrangement allows businesses to maintain control over their expenditures while ensuring they have access to the most advanced tools for their projects.
- The global competitiveness and uncertain economic climate further fuel the demand for rental solutions.
Exclusive Customer Landscape
The test and measurement market forecasting 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 test and measurement market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Test And Measurement Industry
Competitive Landscape & Market Insights
Companies are implementing various strategies, such as strategic alliances, test and measurement market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Advantest Corp. - This company specializes in providing test and measurement solutions, including memory test systems, SoC test systems, electronic measuring instruments, and system level test systems. Their offerings cater to various industries, ensuring accurate and reliable testing for technological advancements.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- Advantest Corp.
- Anritsu Corp.
- Emerson Electric Co.
- EXFO Inc.
- Fastech Telecommunications
- Good Will Instrument Co. Ltd.
- Hitachi Ltd.
- Keysight Technologies Inc.
- OWON Technology Inc
- Premier Measurement Solutions Pvt. Ltd.
- Qmax Test Equipments Pvt. Ltd.
- Rohde and Schwarz GmbH and Co. KG
- Scientech Technologies Pvt. Ltd.
- Teledyne Technologies Inc.
- Teradyne Inc.
- Viavi Solutions Inc.
- Yokogawa Electric Corp.
- Fortive Corp.
- National Instruments Corp.
- AMETEK Inc.
- Texas Instruments Inc.
- Thermo Fisher Scientific Inc.
- Agilent Technologies Inc.
- VIAVI Solutions Inc.
- B&K Precision Corp
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 industry 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.
Recent Development and News in Test And Measurement Market
- In January 2024, Keysight Technologies, a leading player in the market, announced the launch of its new 5G network analyzer, the N5291A PXIe Signal Analyzer. This innovative product is designed to address the growing demand for 5G network testing and measurement solutions (Keysight Technologies Press Release).
- In March 2024, National Instruments and Rohde & Schwarz entered into a strategic partnership to jointly develop and market integrated test solutions for 5G and other advanced communication standards. This collaboration aims to combine National Instruments' software-defined radio technology with Rohde & Schwarz's test and measurement expertise (National Instruments Press Release).
- In May 2024, Tektronix, a prominent test and measurement company, completed the acquisition of Signal Hound, a manufacturer of software-defined spectrum analyzers and signal generators. This acquisition is expected to strengthen Tektronix's position in the software-defined test equipment market and expand its product portfolio (Tektronix Press Release).
- In April 2025, the European Union (EU) passed the New Technologies for European Industry and Digitalisation (NET4IND) initiative, which includes a significant investment in test and measurement infrastructure to support the development and deployment of advanced technologies such as 5G, IoT, and AI (European Commission Press Release). This initiative is expected to create new opportunities for the market players in the EU region.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Test And Measurement Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
218 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.4% |
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Market growth 2025-2029 |
USD 10.94 billion |
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Market structure |
Fragmented |
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YoY growth 2024-2025(%) |
5.3 |
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Key countries |
US, China, Germany, Canada, Japan, Brazil, South Korea, France, UK, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Research Analyst Overview
- The market is a dynamic and evolving landscape, characterized by continuous innovation and advancements in technology. One of the key areas of focus in this market is the implementation of signal processing techniques to enhance the accuracy and reliability of measurements. Sensor calibration plays a crucial role in ensuring the precision of these measurements, with root cause analysis and statistical process control used to identify and address any discrepancies. Reproducibility studies are another important aspect of the market, as they help ensure the consistency and reliability of test results. Test automation frameworks are increasingly being adopted to streamline testing processes and improve efficiency.
- Fault isolation and test equipment validation are essential components of the testing process, enabling the identification and resolution of issues. Validation testing, including compliance testing, accuracy validation, diagnostic testing, and acceptance testing, is a critical part of the quality control process. Instrumentation systems and data logging software are used to collect and analyze data, while measurement uncertainty is carefully assessed to ensure the reliability of results. Predictive maintenance and error analysis methods are also gaining traction in the market, enabling organizations to proactively identify and address potential issues before they become major problems.
- Performance testing, stress testing, fault detection, reliability testing, regression testing, durability testing, and system integration testing are all important aspects of maintaining the optimal functioning of measurement systems. Signal integrity and noise reduction methods are essential for ensuring the accuracy and reliability of measurements, while quality control metrics provide valuable insights into the performance of testing processes. Prognostic testing and traceability chain are emerging trends in the market, offering new opportunities for improving testing efficiency and effectiveness. Overall, the market is a dynamic and evolving landscape, with a focus on innovation, accuracy, and reliability.
What are the Key Data Covered in this Test And Measurement Market Research and Growth Report?
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What is the expected growth of the Test And Measurement Market between 2025 and 2029?
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USD 10.94 billion, at a CAGR of 5.4%
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What segmentation does the market report cover?
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The report segmented by Product (Wireless test equipment, GPTE, Semiconductor test equipment, Real-time test equipment, and Mechanical Test Equipment), End-user (Aerospace and defense, Telecommunication, Semiconductor and electronics, and Others), Geography (North America, APAC, Europe, South America, and Middle East and Africa), Service Type (Calibration services, Repair/After-sales services, and Others), and Application (Signal Generators, Oscilloscopes, Spectrum Analyzers, and Network Analyzers)
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Which regions are analyzed in the report?
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North America, APAC, Europe, South America, and Middle East and Africa
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What are the key growth drivers and market challenges?
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Growing demand from end-user industries, Rising demand for rental test and measurement equipment and outsourcing
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Who are the major players in the Test And Measurement Market?
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Key Companies Advantest Corp., Anritsu Corp., Emerson Electric Co., EXFO Inc., Fastech Telecommunications, Good Will Instrument Co. Ltd., Hitachi Ltd., Keysight Technologies Inc., OWON Technology Inc, Premier Measurement Solutions Pvt. Ltd., Qmax Test Equipments Pvt. Ltd., Rohde and Schwarz GmbH and Co. KG, Scientech Technologies Pvt. Ltd., Teledyne Technologies Inc., Teradyne Inc., Viavi Solutions Inc., Yokogawa Electric Corp., Fortive Corp., National Instruments Corp., AMETEK Inc., Texas Instruments Inc., Thermo Fisher Scientific Inc., Agilent Technologies Inc., VIAVI Solutions Inc., and B&K Precision Corp
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Market Research Insights
- The market encompasses a diverse range of solutions and services, including test bench design, calibration laboratories, data analytics platforms, simulation software, and design of experiments. These offerings support various industries in ensuring system performance and adherence to quality assurance procedures. This expansion can be attributed to the increasing demand for remote monitoring systems, test management tools, and sensor networks to facilitate preventive actions and real-time monitoring. Moreover, the integration of metrology principles, statistical modeling, and predictive modeling in test plan development and result reporting enhances issue resolution, process optimization, and continuous improvement.
- For instance, the use of data visualization techniques in defect tracking and failure analysis streamlines the identification and resolution of complex issues. With the growing emphasis on system performance and quality, the market will remain a critical component of various industries' innovation and growth strategies.
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