Global Test and Measurement Equipment Market growing at a CAGR of 3.3% during the forecast period (2020-2025)

Global Test and Measurement Equipment Market is estimated tobe USD 26.3 billion in 2020 and is predicted to reach USD 31.0 billion by 2025, growing at a CAGR of 3.3% during the forecast period. Some of the major factors responsible for the growth of test and measurement equipment across the globe are increase in uses in the IT & telecommunications sector, technological advancement, and increase in demand for electronic devices.

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Based on product, the global test and measurement equipment market is categorized into oscilloscopes, signal generators, multimeters, logic analyzers, spectrum analyzers, bit error rate test (BERT), network analyzers, power meters, electronic counters, modular instrumentation, automated test equipment [ATE], power supplies, non-destructive test equipment, machine vision inspection, and machine condition monitoring.

Asia-Pacific is expected to be the largest revenue contributor in the test and measurement equipment market during the forecast period. The Asia-Pacific region is a major industrial hub in the world, which includes automotive, electrical, and electronics. Asia-Pacific is the largest automobile manufacturer in the world.

Some of the major players in the global test and measurement equipment market include Keysight Technologies, Advantest, Rohde & Schwarz, Fortive, National Instruments, Anritsu, EXFO, Yokogawa Electric, Texas Instruments, and Teledyne.

Source: VynZ Research