Enjoy complimentary customisation on priority with our Enterprise License!
The VXI test equipment market share is expected to increase by USD 54.1 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 23.1%.
This VXI test equipment market research report will help companies evaluate their business approaches. Furthermore, this report extensively covers VXI test equipment market segmentation by product (oscilloscopes, function generators, and power suppliers) and geography (North America, APAC, Europe, Middle East and Africa, and South America). The VXI test equipment market report also offers information on several market vendors, including Agilent Technologies Inc., Airbus SE, AMETEK Inc., Astronics Corp., C and H Technologies Inc., COMTEL Electronics GmbH, Data Patterns India Ltd., Gigatronics Inc., ICS Electronics, Informtest Holding, Keysight Technologies Inc., North Atlantic Industries, Phillips Aerospace, Pickering Interfaces Ltd., Spanawave Corp., Teradyne Inc., Virginia Panel Corp., Vitrek LLC, VX Instruments GmbH, and W-IE-NE-R Power Electronics GmbH among others.
Download the Free Report Sample to Unlock the VXI Test Equipment Market Size for the Forecast Period and Other Important Statistics
The augmented production of electronic goods is notably driving the VXI test equipment market growth, although factors such as the need for price-sensitive and multiple technology solutions may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the VXI test equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key VXI Test Equipment Market Driver
One of the key factors driving the global VXI test equipment market growth is the augmented production of electronic goods. The US is one of the major consumers of electronic products globally, with significant technological innovations being brought into the electronics industry in the US. People in the country are highly adaptable to new and upgraded technologies. Also, an increase in the exports of electronic goods has been recorded in China, Japan, and Singapore. China, Hong Kong, Vietnam, Singapore, and Taiwan are the major producers of smartphones as well, and the growing smartphone market will foster the sales of VXI test equipment in these countries. Therefore, such factors are expected to drive the global VXI test market growth during the forecast period.
Key VXI Test Equipment Market Trend
Another key factor driving the global VXI test equipment market growth is the growth of the global test and measurement market. Many new products are not compatible with such test equipment. The issue of interoperability is applicable to all heterogeneous products such as video monitors, home networking or automated products, smoke alarms, and home gateways, as well as homogenous devices such as switches and routers. Major vendors are conducting various interoperability tests to ensure that their product is compatible with other products for test and measurement purposes. Technavio expects that the interoperability feature will become a reality in the future, and vendors will start to manufacture test equipment based on the development of specific standards in the field of interoperability. Such developments will boost the demand for VXI test equipment products in the forecast period.
Key VXI Test Equipment Market Challenge
One of the key challenges to the global VXI test equipment market growth is the need for price-sensitive and multiple technology solutions. Many VXI test equipment manufacturers depend on Chinese raw material suppliers. Raw material costs have increased over time, and several countries have increased their import duties, which have increased the production cost of test equipment and restricted the optimum market penetration. For instance, digital ultrasonic flaw detectors offered by local vendors in China are priced at USD 1,000 less than those sold by key suppliers. Low-cost procurement may lead to the development of poor-quality test equipment, which cannot provide the desired output, thereby affecting the brand image. Such factors are expected to negatively impact the market growth during the forecast period.
This VXI test equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global VXI test equipment market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the VXI test equipment market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the VXI test equipment market encompasses successful business strategies deployed by the key vendors. The VXI test equipment market is fragmented and the vendors are deploying growth strategies such as technological innovations to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The VXI test equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the VXI test equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
34% of the market's growth will originate from North America during the forecast period. US is the key market for VXI test equipment market in North America. Market growth in this region will be faster than the growth of the market in South America and MEA.
The significant concentration of integrated device manufacturers and R&D centers will facilitate the VXI test equipment market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Like many industries in North America, the aerospace and defense industry was impacted by the COVID-19 pandemic in 2020. Supply chain disruptions, financial concerns among residential and non-residential property owners, and social distancing norms all put significant strain on the industry. However, the implementation of guidelines such as social distancing in facilities enhanced the need for VXI test equipment for effectively monitoring the faulty devices and promoting production activities. Such factors will drive the global VXI test equipment market in this region during the forecast period.
To gain further insights on the market contribution of various segments Request for a FREE sample
The VXI test equipment market share growth by the oscilloscope segment will be significant during the forecast period. The significant increase in the demand for VXI-based oscilloscopes owing to ongoing innovations in product offerings, increasing use of surface-mount technology (SMT) components, and growing demand for signal storage equipment will drive the market growth through this segment in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the VXI test equipment market size and actionable market insights on post COVID-19 impact on each segment.
Ethernet Test Equipment market - The market has the potential to grow by USD 557.09 million during 2020-2025, and the market's growth momentum will accelerate at a CAGR of 5.58%.
Failure Analysis Test Equipment market - The market share is expected to increase by USD 2.01 billion from 2021 to 2026, at a CAGR of 7.4%.
Communication Test Equipment market - The market share is expected to increase to USD 5.95 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.38%.
Biomaterial Testing Equipment market - The market share is expected to increase by USD 60.63 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.82%.
Automated Test Equipment market - The market share is expected to increase by USD 1.63 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.37%.
VXI Test Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.1% |
Market growth 2022-2026 |
$ 54.1 billion |
Market structure |
Fragmented |
YoY growth (%) |
21.34 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 34% |
Key consumer countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Agilent Technologies Inc., Airbus SE, AMETEK Inc., Astronics Corp., C and H Technologies Inc., COMTEL Electronics GmbH, Data Patterns India Ltd., Gigatronics Inc., ICS Electronics, Informtest Holding, Keysight Technologies Inc., North Atlantic Industries, Phillips Aerospace, Pickering Interfaces Ltd., Spanawave Corp., Teradyne Inc., Virginia Panel Corp., Vitrek LLC, VX Instruments GmbH, and W-IE-NE-R Power Electronics GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.