Global Test and Measurement Equipment Market Size, Share & Industry Trends Analysis Report

Global Test and Measurement Equipment Market Size, Share & Industry Trends Analysis Report By Offering, By Vertical, By Regional Outlook and Forecast, 2023 - 2030


The Global Test and Measurement Equipment Market size is expected to reach $45.6 billion by 2030, rising at a market growth of 4.7% CAGR during the forecast period.

The Automotive and Transportation is gaining traction in the market because of the rising EVs demand. Hence, Automotive and Transportation segment captured 1/5th share of the market in 2022. EV testing goes beyond the testing required for automobiles and their parts to receive homologation. It also involves the conformance or interoperability testing of the charging interfaces and related systems that allow EVs, charging stations, as well as back-office systems to connect. Therefore, the demand for battery safety and performance testing, vehicle performance testing, electric motor testing, charger testing & certification, etc., will probably increase dramatically as the use of EVs increases globally. According to the International Energy Agency (IEA), the number of electric vehicles on the road worldwide exceeded 10 million in 2020, with battery-electric versions leading the growth.

The major strategies followed by the market participants are Product Launches as the key developmental strategy in order to keep pace with the changing demands of end users. For instance, In May, 2023, Viavi Solutions Inc. announced the launch of T/Rx, a cutting-edge solution developed to meet the unique needs of professionals operating in complex radio frequency (RF) environments. The launched product is designed for ease of usage and smooth deployment in multiple environments, consisting of air, sea, and land vehicles, backpacks, and fixed installations. Additionally, In May, 2023, Tektronix, Inc announced the launch of the WBG-DPT solution, a Double Pulse Test solution. The WBG-DPT solution comes with the capability to offer repeated, automated and accurate measurements on broad bandgap devices consisting of GaN MOSFETs and SiC.

Based on the Analysis presented in the KBV Cardinal matrix; Keysight Technologies, Inc., Fortive Corporation (Tektronix, Inc.), Ametek, Inc., Advantest Corporation and Teledyne FLIR LLC (Teledyne Technologies Incorporated) are the forerunners in the Market. In In October, 2022, Keysight Technologies, Inc. enhancements in the company's Nemo Device Application Test portfolio with new application test automation. The software-based solution utilizes automation and artificial intelligence (AI) to allow wireless service providers and application developers to boost the assessment of smartphone users' actual interactions with native applications. Companies such as Viavi Solutions, Inc., Rohde & Schwarz GmbH & Co. KG and Yokogawa Electric Corporation are some of the key innovators in the Market.

Market Growth Factors

Increasing demand for interoperability testing because of growing IoT and Connected Device Deployment

The expanding use of connected technologies to improve output and enhance manufacturing effectiveness, as well as the requirement to evaluate and test Internet of Things (IoT)-enabled devices to guarantee data and product security, are driving the expansion of the market. Although installing IoT and linked devices might help businesses enhance their profit margins, they also present several dangers and hurdles for manufacturers and developers. Manufacturers are concentrating on securing user data and connected devices as data breaches continue to make headlines. Therefore, as the deployment of IoT devices increases worldwide, it will propel the expansion of the market.

Rising adoption of innovative technologies in various sectors

Healthcare is only one of the many sectors where technological breakthroughs are fast transforming. Notably, there has been substantial advancement in the healthcare industry. For example, using wearable technology, such as smartwatches, makes it possible to collect data that can be used to predict and treat people's health concerns before symptoms appear. This method, called precision medicine, enables doctors to recommend medications and provide treatments to their patients with a higher degree of accuracy and specificity. This has been made possible by advances in genomics and AI. Hence, the growing use of technology is accelerating the market's growth.

Market Restraining Factors

Growing demand for rental services of T&M equipment

The need for test and measurement equipment in industries that use it is increasing due to technological improvements. The rental of test and measurement equipment is more profitable for customers than for producing companies, which is why this ratio is rising. Renting test and measurement equipment is a common choice for businesses with limited cash. Customers typically rent equipment due to the unavailability of their equipment, difficulties with repair and calibration, and an unanticipated increase in testing workload. New test and measurement tools, however, are frequently pricey. Therefore, the end-users price sensitivity, particularly among those who doubt the products' quality, has slowed the market's growth.

Offering Outlook

By offering, the market is bifurcated into products and services. The service segment witnessed a substantial revenue share in the market in 2022. Test and measurement services aim to give clients suitable techno-economical solutions to boost their output and happiness. Services maximize quality as well as customer service via innovation and the incorporation of cutting-edge international technologies. These also ensure that a variety of high-quality electrical measurement devices are acquired to achieve operational excellence.

Vertical Outlook

By vertical, the market is divided into automotive & transportation, aerospace & defense, IT & telecom, education & government, industrial, healthcare & dental, semiconductor & electronics, and others. The industrial segment witnessed the maximum revenue share in the market in 2022. Throughout all phases of the product life cycle, covering design, manufacture, and maintenance, test and measurement equipment is used in the industrial sector. These tools test various goods, including solar inverters, cell phones, radar systems, MP3 players, etc.

Regional Outlook

Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded the largest revenue share in the market in 2022. Across North America, the need for test and measurement equipment has increased due to advancements in modern research disciplines and autonomous driving technology. In the US and Canada, major firms have generally focused on manufacturing products of higher precision and quality. The regional market is expected to be driven by consumer demand for such accuracy in products.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Viavi Solutions, Inc., Yokogawa Electric Corporation, Keysight Technologies, Inc., Fortive Corporation (Tektronix, Inc.), Ametek, Inc., Rohde & Schwarz GmbH & Co. KG, Anritsu Corporation, Advantest Corporation, Teledyne FLIR LLC (Teledyne Technologies Incorporated), and EXFO, Inc.

Scope of the Study

Market Segments covered in the Report:

By Offering
  • Product
  • General Purpose Test Equipment
  • Mechanical Test Equipment
  • Services
  • Calibration Services
  • Repair or After Sale Services
  • Others
By Vertical
  • Industrial
  • Automotive & Transportation
  • Electronics & Semiconductor
  • Education & Government
  • Healthcare & Dental
  • Aerospace & Defense
  • Manufacturing
  • Telecom & IT
  • Others
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • Viavi Solutions, Inc.
  • Yokogawa Electric Corporation
  • Keysight Technologies, Inc.
  • Fortive Corporation (Tektronix, Inc.)
  • Ametek, Inc.
  • Rohde & Schwarz GmbH & Co. KG
  • Anritsu Corporation
  • Advantest Corporation
  • Teledyne FLIR LLC (Teledyne Technologies Incorporated)
  • EXFO, Inc.
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Test and Measurement Equipment Market, by Offering
1.4.2 Global Test and Measurement Equipment Market, by Vertical
1.4.3 Global Test and Measurement Equipment Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2019, Aug – 2023, May) Leading Players
Chapter 4. Global Test and Measurement Equipment Market by Offering
4.1 Global Product Market by Region
4.2 Global Test and Measurement Equipment Market by Product Type
4.2.1 Global General Purpose Test Equipment Market by Region
4.2.2 Global Mechanical Test Equipment Market by Region
4.3 Global Services Market by Region
4.4 Global Test and Measurement Equipment Market by Services Type
4.4.1 Global Calibration Services Market by Region
4.4.2 Global Repair or After Sale Services Market by Region
4.4.3 Global Others Market by Region
Chapter 5. Global Test and Measurement Equipment Market by Vertical
5.1 Global Industrial Market by Region
5.2 Global Automotive & Transportation Market by Region
5.3 Global Electronics & Semiconductor Market by Region
5.4 Global Education & Government Market by Region
5.5 Global Healthcare & Dental Market by Region
5.6 Global Aerospace & Defense Market by Region
5.7 Global Manufacturing Market by Region
5.8 Global Telecom & IT Market by Region
5.9 Global Others Market by Region
Chapter 6. Global Test and Measurement Equipment Market by Region
6.1 North America Test and Measurement Equipment Market
6.1.1 North America Test and Measurement Equipment Market by Offering
6.1.1.1 North America Product Market by Country
6.1.1.2 North America Test and Measurement Equipment Market by Product Type
6.1.1.2.1 North America General Purpose Test Equipment Market by Country
6.1.1.2.2 North America Mechanical Test Equipment Market by Country
6.1.1.3 North America Services Market by Country
6.1.1.4 North America Test and Measurement Equipment Market by Services Type
6.1.1.4.1 North America Calibration Services Market by Country
6.1.1.4.2 North America Repair or After Sale Services Market by Country
6.1.1.4.3 North America Others Market by Country
6.1.2 North America Test and Measurement Equipment Market by Vertical
6.1.2.1 North America Industrial Market by Country
6.1.2.2 North America Automotive & Transportation Market by Country
6.1.2.3 North America Electronics & Semiconductor Market by Country
6.1.2.4 North America Education & Government Market by Country
6.1.2.5 North America Healthcare & Dental Market by Country
6.1.2.6 North America Aerospace & Defense Market by Country
6.1.2.7 North America Manufacturing Market by Country
6.1.2.8 North America Telecom & IT Market by Country
6.1.2.9 North America Others Market by Country
6.1.3 North America Test and Measurement Equipment Market by Country
6.1.3.1 US Test and Measurement Equipment Market
6.1.3.1.1 US Test and Measurement Equipment Market by Offering
6.1.3.1.2 US Test and Measurement Equipment Market by Vertical
6.1.3.2 Canada Test and Measurement Equipment Market
6.1.3.2.1 Canada Test and Measurement Equipment Market by Offering
6.1.3.2.2 Canada Test and Measurement Equipment Market by Vertical
6.1.3.3 Mexico Test and Measurement Equipment Market
6.1.3.3.1 Mexico Test and Measurement Equipment Market by Offering
6.1.3.3.2 Mexico Test and Measurement Equipment Market by Vertical
6.1.3.4 Rest of North America Test and Measurement Equipment Market
6.1.3.4.1 Rest of North America Test and Measurement Equipment Market by Offering
6.1.3.4.2 Rest of North America Test and Measurement Equipment Market by Vertical
6.2 Europe Test and Measurement Equipment Market
6.2.1 Europe Test and Measurement Equipment Market by Offering
6.2.1.1 Europe Product Market by Country
6.2.1.2 Europe Test and Measurement Equipment Market by Product Type
6.2.1.2.1 Europe General Purpose Test Equipment Market by Country
6.2.1.2.2 Europe Mechanical Test Equipment Market by Country
6.2.1.3 Europe Services Market by Country
6.2.1.4 Europe Test and Measurement Equipment Market by Services Type
6.2.1.4.1 Europe Calibration Services Market by Country
6.2.1.4.2 Europe Repair or After Sale Services Market by Country
6.2.1.4.3 Europe Others Market by Country
6.2.2 Europe Test and Measurement Equipment Market by Vertical
6.2.2.1 Europe Industrial Market by Country
6.2.2.2 Europe Automotive & Transportation Market by Country
6.2.2.3 Europe Electronics & Semiconductor Market by Country
6.2.2.4 Europe Education & Government Market by Country
6.2.2.5 Europe Healthcare & Dental Market by Country
6.2.2.6 Europe Aerospace & Defense Market by Country
6.2.2.7 Europe Manufacturing Market by Country
6.2.2.8 Europe Telecom & IT Market by Country
6.2.2.9 Europe Others Market by Country
6.2.3 Europe Test and Measurement Equipment Market by Country
6.2.3.1 Germany Test and Measurement Equipment Market
6.2.3.1.1 Germany Test and Measurement Equipment Market by Offering
6.2.3.1.2 Germany Test and Measurement Equipment Market by Vertical
6.2.3.2 UK Test and Measurement Equipment Market
6.2.3.2.1 UK Test and Measurement Equipment Market by Offering
6.2.3.2.2 UK Test and Measurement Equipment Market by Vertical
6.2.3.3 France Test and Measurement Equipment Market
6.2.3.3.1 France Test and Measurement Equipment Market by Offering
6.2.3.3.2 France Test and Measurement Equipment Market by Vertical
6.2.3.4 Russia Test and Measurement Equipment Market
6.2.3.4.1 Russia Test and Measurement Equipment Market by Offering
6.2.3.4.2 Russia Test and Measurement Equipment Market by Vertical
6.2.3.5 Spain Test and Measurement Equipment Market
6.2.3.5.1 Spain Test and Measurement Equipment Market by Offering
6.2.3.5.2 Spain Test and Measurement Equipment Market by Vertical
6.2.3.6 Italy Test and Measurement Equipment Market
6.2.3.6.1 Italy Test and Measurement Equipment Market by Offering
6.2.3.6.2 Italy Test and Measurement Equipment Market by Vertical
6.2.3.7 Rest of Europe Test and Measurement Equipment Market
6.2.3.7.1 Rest of Europe Test and Measurement Equipment Market by Offering
6.2.3.7.2 Rest of Europe Test and Measurement Equipment Market by Vertical
6.3 Asia Pacific Test and Measurement Equipment Market
6.3.1 Asia Pacific Test and Measurement Equipment Market by Offering
6.3.1.1 Asia Pacific Product Market by Country
6.3.1.2 Asia Pacific Test and Measurement Equipment Market by Product Type
6.3.1.2.1 Asia Pacific General Purpose Test Equipment Market by Country
6.3.1.2.2 Asia Pacific Mechanical Test Equipment Market by Country
6.3.1.3 Asia Pacific Services Market by Country
6.3.1.4 Asia Pacific Test and Measurement Equipment Market by Services Type
6.3.1.4.1 Asia Pacific Calibration Services Market by Country
6.3.1.4.2 Asia Pacific Repair or After Sale Services Market by Country
6.3.1.4.3 Asia Pacific Others Market by Country
6.3.2 Asia Pacific Test and Measurement Equipment Market by Vertical
6.3.2.1 Asia Pacific Industrial Market by Country
6.3.2.2 Asia Pacific Automotive & Transportation Market by Country
6.3.2.3 Asia Pacific Electronics & Semiconductor Market by Country
6.3.2.4 Asia Pacific Education & Government Market by Country
6.3.2.5 Asia Pacific Healthcare & Dental Market by Country
6.3.2.6 Asia Pacific Aerospace & Defense Market by Country
6.3.2.7 Asia Pacific Manufacturing Market by Country
6.3.2.8 Asia Pacific Telecom & IT Market by Country
6.3.2.9 Asia Pacific Others Market by Country
6.3.3 Asia Pacific Test and Measurement Equipment Market by Country
6.3.3.1 China Test and Measurement Equipment Market
6.3.3.1.1 China Test and Measurement Equipment Market by Offering
6.3.3.1.2 China Test and Measurement Equipment Market by Vertical
6.3.3.2 Japan Test and Measurement Equipment Market
6.3.3.2.1 Japan Test and Measurement Equipment Market by Offering
6.3.3.2.2 Japan Test and Measurement Equipment Market by Vertical
6.3.3.3 India Test and Measurement Equipment Market
6.3.3.3.1 India Test and Measurement Equipment Market by Offering
6.3.3.3.2 India Test and Measurement Equipment Market by Vertical
6.3.3.4 South Korea Test and Measurement Equipment Market
6.3.3.4.1 South Korea Test and Measurement Equipment Market by Offering
6.3.3.4.2 South Korea Test and Measurement Equipment Market by Vertical
6.3.3.5 Singapore Test and Measurement Equipment Market
6.3.3.5.1 Singapore Test and Measurement Equipment Market by Offering
6.3.3.5.2 Singapore Test and Measurement Equipment Market by Vertical
6.3.3.6 Malaysia Test and Measurement Equipment Market
6.3.3.6.1 Malaysia Test and Measurement Equipment Market by Offering
6.3.3.6.2 Malaysia Test and Measurement Equipment Market by Vertical
6.3.3.7 Rest of Asia Pacific Test and Measurement Equipment Market
6.3.3.7.1 Rest of Asia Pacific Test and Measurement Equipment Market by Offering
6.3.3.7.2 Rest of Asia Pacific Test and Measurement Equipment Market by Vertical
6.4 LAMEA Test and Measurement Equipment Market
6.4.1 LAMEA Test and Measurement Equipment Market by Offering
6.4.1.1 LAMEA Product Market by Country
6.4.1.2 LAMEA Test and Measurement Equipment Market by Product Type
6.4.1.2.1 LAMEA General Purpose Test Equipment Market by Country
6.4.1.2.2 LAMEA Mechanical Test Equipment Market by Country
6.4.1.3 LAMEA Services Market by Country
6.4.1.4 LAMEA Test and Measurement Equipment Market by Services Type
6.4.1.4.1 LAMEA Calibration Services Market by Country
6.4.1.4.2 LAMEA Repair or After Sale Services Market by Country
6.4.1.4.3 LAMEA Others Market by Country
6.4.2 LAMEA Test and Measurement Equipment Market by Vertical
6.4.2.1 LAMEA Industrial Market by Country
6.4.2.2 LAMEA Automotive & Transportation Market by Country
6.4.2.3 LAMEA Electronics & Semiconductor Market by Country
6.4.2.4 LAMEA Education & Government Market by Country
6.4.2.5 LAMEA Healthcare & Dental Market by Country
6.4.2.6 LAMEA Aerospace & Defense Market by Country
6.4.2.7 LAMEA Manufacturing Market by Country
6.4.2.8 LAMEA Telecom & IT Market by Country
6.4.2.9 LAMEA Others Market by Country
6.4.3 LAMEA Test and Measurement Equipment Market by Country
6.4.3.1 Brazil Test and Measurement Equipment Market
6.4.3.1.1 Brazil Test and Measurement Equipment Market by Offering
6.4.3.1.2 Brazil Test and Measurement Equipment Market by Vertical
6.4.3.2 Argentina Test and Measurement Equipment Market
6.4.3.2.1 Argentina Test and Measurement Equipment Market by Offering
6.4.3.2.2 Argentina Test and Measurement Equipment Market by Vertical
6.4.3.3 UAE Test and Measurement Equipment Market
6.4.3.3.1 UAE Test and Measurement Equipment Market by Offering
6.4.3.3.2 UAE Test and Measurement Equipment Market by Vertical
6.4.3.4 Saudi Arabia Test and Measurement Equipment Market
6.4.3.4.1 Saudi Arabia Test and Measurement Equipment Market by Offering
6.4.3.4.2 Saudi Arabia Test and Measurement Equipment Market by Vertical
6.4.3.5 South Africa Test and Measurement Equipment Market
6.4.3.5.1 South Africa Test and Measurement Equipment Market by Offering
6.4.3.5.2 South Africa Test and Measurement Equipment Market by Vertical
6.4.3.6 Nigeria Test and Measurement Equipment Market
6.4.3.6.1 Nigeria Test and Measurement Equipment Market by Offering
6.4.3.6.2 Nigeria Test and Measurement Equipment Market by Vertical
6.4.3.7 Rest of LAMEA Test and Measurement Equipment Market
6.4.3.7.1 Rest of LAMEA Test and Measurement Equipment Market by Offering
6.4.3.7.2 Rest of LAMEA Test and Measurement Equipment Market by Vertical
Chapter 7. Company Profiles
7.1 Teledyne FLIR LLC (Teledyne Technologies Incorporated)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Recent strategies and developments:
7.1.4.1 Product Launches and Product Expansions:
7.1.5 SWOT Analysis
7.2 Viavi Solutions, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.5.2 Product Launches and Product Expansions:
7.2.5.3 Acquisition and Mergers:
7.3 Yokogawa Electric Corporation
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 Recent strategies and developments:
7.3.5.1 Product Launches and Product Expansions:
7.3.5.2 Acquisition and Mergers:
7.4 Keysight Technologies, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Product Launches and Product Expansions:
7.4.5.2 Acquisition and Mergers:
7.5 Fortive Corporation (Tektronix, Inc.)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments:
7.5.5.1 Product Launches and Product Expansions:
7.6 Ametek, Inc.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 Recent strategies and developments:
7.6.5.1 Acquisition and Mergers:
7.7 Rohde & Schwarz GmbH & Co. KG
7.7.1 Company Overview
7.7.2 Recent strategies and developments:
7.7.2.1 Product Launches and Product Expansions:
7.7.2.2 Acquisition and Mergers:
7.8 Anritsu Corporation
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expense
7.8.5 Recent strategies and developments:
7.8.5.1 Partnerships, Collaborations, and Agreements:
7.8.5.2 Product Launches and Product Expansions:
7.9 Advantest Corporation
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expenses
7.9.5 Recent strategies and developments:
7.9.5.1 Product Launches and Product Expansions:
7.9.5.2 Acquisition and Mergers:
7.10. EXFO, Inc.
7.10.1 Company Overview
7.10.2 Recent strategies and developments:
7.10.2.1 Product Launches and Product Expansions:
7.10.2.2 Acquisition and Mergers:

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