According to a new report, published by KBV research, 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 Product segment acquired the highest revenue share in the Global Test and Measurement Equipment Market by Offering in 2022 thereby, achieving a market value of $32.9 billion by 2030. Test and measurement equipment products are designed to provide accurate and precise measurements. They are calibrated and manufactured to meet specific standards, ensuring reliable and repeatable results. This accuracy is crucial in industries where even small errors, such as aerospace, healthcare, and manufacturing, can have significant consequences.
The Automotive & Transportation segment has shown the high growth rate of 3.6% during (2023 - 2030). The broad range of applications of T&M in this industry is expected to drive the growth of the segment. The adoption of hybrid and electric vehicles is likely to increase, while demand for autonomous vehicles is predicted to expand. Most autonomous vehicles utilize wireless connection protocols like Wi-Fi and LTE for their infotainment systems and other automotive accessories.
The North America market dominated the Global Test and Measurement Equipment Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $15.1 billion by 2030. The Europe market is experiencing a CAGR of 4% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 5.4% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/test-and-measurement-equipment-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Offering
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Companies Profiled
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