RF Test Equipment Market 2020 Global Industry Size, Growth Factors, Revenue Analysis, Covid-19 Business Impact, Opportunities, Competitive Landscape and Forecast 2025
Research Reports
Dec 29, 2020
Market Research Future published a research report on “RF Test Equipment Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Insights
Investors weighed signs of the economy, recuperating against a mount in Coronavirus disease in the global RF test equipment market 2020. The Coronavirus has prompted many regions to reassess the need to raise the markets from a definite period. Market Research Future digs into account and found that the market would rise at a pace of 6.21% CAGR and would reach higher valuations by 2025. The study unwinds that the overall market would get bigger post the pandemic at an increased pace with the invention of the new-fangled dynamism, which is making rapid progress in the market’s growth, mainly from the years 2017-2025 (forecasted period).
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Notable Developments
The extreme growth of the telecommunications sector primarily drives the market for RF test equipment. Current telecommunication systems are based mainly on wireless connectivity, conducted through a broad range of radio frequencies. Such frequencies are transmitted and received through different RF-enabled electronic devices. With the rising demand for connectivity, demand for RF-enabled devices has been mounting at a marvellous pace. This, in turn, has been promoting the demand for RF test equipment market.
MRFR in its study further reveals that the swelling demand for internet-connected and RF-enabled consumer electronics, such as tablets, mobile phones, televisions, laptops, and microwave ovens among others have also been promoting the expansion of the RF-enabled components. This, in turn, has been further encouraging the growth of RF testing equipment. In 2015, Smartphones were the largest revenue contributor to the global RF Test Equipment Market. It acquired a revenue share of about 38%. The increasing adoption of smart devices has expanded the market for RF test equipment since then globally. Telecom technologies such as LTE-A, LTE, 4G, and 5G are being adopted by many Smartphone users.
Furthermore, upward application of various communication technologies, in various industry verticals, has been promoting the augmentation of RF-enabled electronic components. This again has been favourably impacting the growth of RF test equipment market. In fact, mounting strictness of regulations for radio frequencies, coupled with swelling bandwidths, has led to the need for advanced RF testing equipment.
On the contrary, the factor of lack of advanced equipment has been restraining the growth of RF testing equipment to some extent. Considering the increasing application of RF-enabled electronics, the market for RF test equipment can be expected to expand more at a significant pace, during the forecast period from 2017 – 2025.
Key Players
The top players of the Global RF Test Equipment Market are National Instruments (NI) (US), Teledyne Technologies Incorporated (US), EXFO Inc. (Canada), Siemens (Germany), Cobham PLC (UK), Giga-Tronics Incorporated (US), Chroma ATE Inc. (Taiwan), Fortive (US), and B&K Precision Corporation (US).
Segmentation Analysis
The MRFR’s report offers an extensive evaluation of the global RF test equipment market based on segments such as connectivity, form factor, frequency, and end-user.
In terms of connectivity, the global RF test equipment market has included signal generators, oscilloscope, network analyzers, and spectrum analyzers. The oscilloscope segment detained the largest market share in 2018 as this segment witnessed significant growth in the demand for RF test equipment. This is all due to the used for designing and maintaining electronic equipment and laboratory work in the consumer electronics, automotive, aerospace & defence, IT & telecommunications, and healthcare industries.
In terms of form factor segment, the market has included portable, bench-top, and modular. The bench-top segment might hold maximum market share owing to its highest level of repeatability that results in a tighter correlation among instruments with a larger measurement area.
In terms of frequency segment, the market has included less than 1 GHz, between 1GHz to 6 GHz, and more than 6 GHz. Between 1GHz to 6 GHz segment might hold the maximum market share owing to its offer outstanding frequency response and high accuracy in swept measurements with high-frequency probes, resulting in significant thrust to the global RF test equipment market.
In terms of end-user segment, the market consists of automotive, IT & telecommunications, aerospace & defence, consumer electronics, medical, academic & research institutions, industrial, and more. The IT & telecommunication segment might hold the maximum market share, owing to its enhanced accuracy and precision in network and spectrum.
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Regional Analysis
Regionally, the global RF test equipment market study has been conducted among the main regions of Europe, the Middle East and Africa, North America, Asia-Pacific (APAC), and South & Central America.
Europe might witness remarkable growth in the RF test equipment market, owing to escalating innovation in aerospace and defence technologies and the increasing use of RF equipment in manufacturing industries. Moreover, the adoption of IoT, wireless networking, and the development of 5G network technology has triggered the implementation of RF test equipment in industries such as automotive, IT & Telecommunications, and healthcare. The incidence of crucial manufacturers and growing R&D facilities further swell the need for RF test equipment in the region during the assessment period.
Augmented demand from telecommunication and consumer electronics sector is the primary factor driving the market. Having test equipment with exceptional technologies integrated into it has been a boosting factor to the telecom industry in North America.
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