Read the story here. Advertise at Before It's News here.
Profile image
By Janelliamartin
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Test and Measurement Equipment Market Projected to reach $42.9 billion by 2028

% of readers think this story is Fact. Add your two cents.

The Test and measurement equipment market is expected to reach USD 42.9 billion by 2028 from USD 34.3 billion in 2023, at a CAGR of 4.6% during the 2023–2028 period. The major factors driving the market growth of the test and measurement equipment market include growing adoption of electronic devices, surging deployment of advanced networking and communication technologies, rising demand of high-performance and power-efficient electronic devices, etc.

Download PDF Brochure @

Calibration services sub-segment in service type segment is expected to hold the highest market share of the test and measurement equipment market during the forecast period.

Periodic calibration and servicing are required to maintain the high standards of test instruments. Calibration helps increase the life of the equipment as the process compares the actual performance with the standard performance. Any deviations in the actual performance are identified and rectified to match the standard performance. Calibration is the process of evaluating and adjusting the precision and accuracy of measurement equipment. This process includes operations that, under certain conditions, establish relations between values indicated by a measuring instrument and those realized by reference standards. The calibration of the test and measurement equipment is vital to ensure precision, quality assurance, and compliance with quality standards during the production, maintenance, and servicing phases. Thus, if carried out regularly, calibration ensures not only optimum performance but also the extended operational life of the equipment.

Industrial vertical is expected to account for the highest market share of the test and measurement equipment market during the forecast period.

Test and measurement equipment are integral to the industrial sector and are employed across various stages of the product life cycle, including design, manufacturing, and maintenance. This equipment is utilized in testing a wide range of products, such as solar inverters, MP3 players, cell phones, radar systems, and more. Additionally, they play a crucial role in ensuring the reliability and performance of mechanical engineering-related products like wind turbines, car suspensions, machine health monitoring systems, and steel manufacturing assemblies. As a result, test and measurement equipment hold significant importance in the industrial vertical.

Asia Pacific is expected to register the highest market share during the forecast period.

The major drivers for the growth of the market in Asia Pacific includes increasing number of original equipment manufacturers and semiconductor device and product manufacturers; growing number of mobile operators, booming telecom industry, and increasing focus on digitalization and e-health are propelling to the growth of test and measurement equipment market in the region. China is considered as the global manufacturing hub for various industries, such as electronics, semiconductor, and automotive. It is one of the fastest-growing economies in the world. With the pandemic taking a toll on the country’s GDP, China has managed to control the spread of the virus, thereby recording the limited impact of the virus on the country’s economy. It is expected that China will emerge as the only major economy in the world to have avoided contraction and is also expected to outpace the global peers, including the US. The trade war with the US allowed China to shift its focus to European and Asian economies. Also, European countries are looking at China as the country with potential for a large source of growth in the post-pandemic world. In December 2020, the European Union also entered into a comprehensive investment deal with China that will be most likely to facilitate higher trade volumes for high-quality products such as medical devices and wireless communication devices. This will lead to the increased focus of China-based manufacturers to meet the growing demands that will require extensive use of test and measurement equipment to ensure adequate product quality according to the EU norms and other relevant standards of Asian countries.

Inquiry Before Buying @

Key Players

The report profiles key players such as Yokogawa Electric (Japan), Keysight Technologies (US), Rohde & Schwarz (Germany), Fortive (US), Anritsu (Japan), Advantest (Japan), National Instruments (US), EXFO (Canada), VIAVI Solutions (US), OWON Technology (China), Teledyne Technologies (US), GW Instek (Taiwan), AMETEK (US), ADLINK Technology (Taiwan), Leader Instruments (US), RIGOL Technologies (China), Dynamic Signal (US), Astronics Test Systems (US), Vaunix (US), DS Instruments (US), Saluki (Taiwan), IKM Instrutek (Norway), Uni-Trend Technology (China), Particle Measuring Systems (US), and Mextech Technologies (India).

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.