The European Test and Measurement Equipment Industry is Expected to Grow to $967.4 Million by 2027 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 11, 2023--
The “Europe Test and Measurement Equipment Market Size, Trends & Growth Opportunity and By Product Type, By Service Type, By End Use Industry By Region and Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The Europe Test and Measurement Equipment Market is expected to grow from US$ 541.91 Million in 2021 to US$ 967.44 Million by 2027; it is estimated to grow at a CAGR of 8.63% from 2021 to 2027.
Drivers: The test and measurement tools can determine how well electronic gadgets work. The component’s timely degradations caused by external turbulences including heat, vibration, shock, and changing environmental conditions are identified thanks to this testing.
The performance, shelf life, precision, and efficiency of devices are all improved by this equipment. Engineers and Original Equipment Manufacturers (OEMs) of test and measurement equipment are concentrating on producing cutting-edge semiconductor devices like robots and various sorts of sensors with extra functionality.
Restraints: Setting up testing facilities and installing testing and measurement equipment is quite expensive. To use testing and measurement equipment and conduct tests, qualified experts are needed. These are the things holding back the market for test and measurement equipment. Electronic gadgets’ energy usage is decreased while using antenna arrays. The market’s difficulties, however, are caused by the irregularities, calibration, and complexity problems in antennas.
Opportunities: Future trends in the test and measurement equipment market are anticipated to be driven by the continued trend of developing and implementing 5G wave technologies, along with an increase in the number of new products that are compatible with higher bandwidths.
Future trends in the use of test and measurement equipment are expected to be driven by the development of cutting-edge gear that leaves no room for flaws, such as robotics, space technology, and other technologies. The manufacture of semiconductor devices has exploded in many places in tandem with the adoption of cutting-edge digital technologies like the internet of things (IoT), machine learning (ML), or even data analytics.
Impact of Covid-19
The Europe test and measurement equipment market, in contrast to the majority of other markets, appears to have endured the economic recession that followed the Covid-19 outbreak. In actuality, the Covid-19 pandemic outbreak led to an increase in the development of electric medical devices and appliances. Despite a slump in other parts of the economy, the market for test and measurement equipment actually expanded to help with the quick procurement of such devices.
- TTI Europe
- Keysight Technologies
- Rohde & Schwarz
- Advantest Europe GmbH
- National Instruments
- Viavi Solutions
- Anritsu Europe
- Yokogawa Europe
- Texas Instruments Europe
By Product Type
- General Purpose Test Equipment (GPTE)
- Signal Generators
- Logic Analyzers
- Spectrum Analyzers
- Bert (Bit Error Rate Test)
- Network Analyzers
- Mechanical Test Equipment (MTE)
- Non-Destructive Test Equipment
- Machine Vision Repair Services/After-Sales Services
- Machine Condition Monitoring
By Service Type
- Calibration Services
- Repair Services/After-Sales Services
By End Use Industry
- Automotive and Transportation
- Aerospace and Defense
- IT and Telecommunication
- Semiconductor and Electronics
Key Questions Addressed by the Report
- What are the Key Opportunities in Europe Test and Measurement Equipment Market?
- What will be the growth rate from 2021 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
For more information about this report visit https://www.researchandmarkets.com/r/7khntk
View source version on businesswire.com:https://www.businesswire.com/news/home/20230111005580/en/
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SOURCE: Research and Markets
Copyright Business Wire 2023.
PUB: 01/11/2023 08:09 AM/DISC: 01/11/2023 08:09 AM