Test and Measurement Market Driven Autonomous Vehicles Trend

As per a recent business intelligence report published by IndustryARC, the test and measurement market size was approximately $25 billion in 2018, and the demand will be growing at a CAGR of 4% over a forecast period 2019-2025. The analyst of the report highlights growing uptake of wireless connectivity equipment, radical growth of the semiconductor industry in the recent past, and consistent demand from the transportation and automotive industry as some of the primary factors that will ensure consistent demand in the global test and measurement market. The report is titled “Test and Measurement Market: By Product (Wireless Test Equipment, General Purpose Test Equipment (GPTE), Semiconductor Test Equipment, & Real-Time Test Equipment); By Application ( Battery test, LAN / WAN test equipment, LCD test equipment, Semiconductor test, Wireless communications test equipment); By Instrumentation Type ( Active probes, Data acquisition, Field instrumentation, Lab instrumentation, Laser distance measurement, Scales and weight, Spectroscopy); By End-User ( Telecommunications, Aerospace & defense, Semiconductor & electronics, Transportation, Medical, Others ); By Geography - Forecast (2019-2025).” 

The analyst has identified that test and measurement systems plays a noticeable role in a number of industries including telecommunications, aerospace & defense, semiconductor and electronics, transportation and automobile, and medical industries. However, the transportation and automobile industry currently formulates the most prominent chunk of demand. Geographically, the report rates Asia Pacific as the region with most opportunities, which once again is dominated by the sectors of transportation and automobile.

Worldwide engineers explore for precise and reliable test and measurement instruments to avoid adverse results even with negligible errors. Automobile manufacturers are highly focused on today’s emerging autonomous vehicles with latest industry specifications. Advanced driver assistance system (ADAS) need to be tested at an extensive range to verify that autonomous vehicles are safer to human driver. Currently each and every stage of a product development involves testing and measurement that is from R&D to production of the final product. Thus automobile applications enables comfort and safety through an internal process verification. Oscilloscopes, signal generators, digital multimeters, logic analyzers, spectrum analyzers, bit error rate tester, network analyzers, power meters, electronic counters, modular instrumentation, and automated test equipment are a diverse range of products provided by the test and measurement market companies. Increasing adoption of test and measurement equipment from an original equipment manufacturer (OEMs) is influencing to grab the major percentage of market share in electronic original equipment market. Healthcare professionals are more concerned about the optimal functionality and safety associated with the medical equipment’s, so the healthcare equipment coupled with test and measurement is preferred for fruitful and accurate results. 

The essentiality of test and measurement tools for hardware components, medical equipment, and electronic systems for accurate results are anticipated for sustain a healthy demand until 2025. Comfort and safety provided by these systems in automotive and healthcare industries are projected for the growth of Test and Measurement market through 2019 to 2025. 

Communication Test And Measurement Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2019 - 2024