Technavio's global general purpose test equipment (GPTE) market research report forecasts the market to grow at a CAGR of almost 5% during the forecast period.
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Technavio has published a new market research report on the global general purpose test equipment market for the period 2019-2023. (Graphic: Business Wire)
The growing adoption of modular test and measurement equipment will be one of the major trends in the global general purpose test equipment marketduring 2019-2023. Advancements in electronics and test and measurement technology are boosting the demand for modular test and measurement equipment. This is assisting end-users in increasing the service life of test and measurement equipment while reducing the repair and maintenance costs and improving operational efficiency.
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According to Technavio's analysts, one of the key drivers for the global general purpose test equipment market is the roll-out of LTE and LTE-Advanced (4G) network:
Global general purpose test equipment market: Roll-out of LTE and LTE-Advanced network
The demand from the subscribers of telecommunication networks has shifted from voice to data-based services. This has induced network operators to upgrade their networks to meet the growing demands of data-savvy customers. The quality of service for telecommunication technologies such as LTE and LTE-Advanced network focuses on providing proper interoperability and mobility, high throughput, and lower latency.
According to a senior research analyst at Technavio, "To test the standards and protocols for LTE networks, high-quality LTE test equipment is required. The clients of LTE test equipment include telecommunication network equipment manufacturers such as Ericsson, Huawei, ALE, ZTE, and Nokia. The demand for the test equipment will depend on the ability of the service providers to cater to customer expectations."
Global general purpose test equipment market: Segmentation analysis
This global general purpose test equipment market analysis report provides market segmentation by product (oscilloscope, spectrum analyzer, signal generator, network analyzer, and others), by end-user (communication, industrial, aerospace and defense, electronics and semiconductors, and others), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the five major products, the oscilloscope segment held the largest general purpose test equipment market share in 2018, contributing to over 27% of the market. This product segment will dominate the global market throughout the forecast period.
APAC held the largest share of the market in 2018, accounting for more than 35% share. It was followed by the Americas and EMEA respectively. APAC is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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