The global RF test equipment market is touted to touch a valuation of USD 2.83 billion at a CAGR of 5% from 2017 to 2023 (forecast period) as per the latest report by Market Research Future (MRFR). The penetration of various wireless technologies for communication is the primary driver of the market. Increasing popularity of internet of things (IoT) enabled devices is likely to fuel market demand significantly over the forecast period.
Adoption of smartphones has elicited the need for fast network speeds. Telecommunication providers are investing in radiofrequency (RF) test equipment to discern the capacity of wireless technologies. The shift towards enhancing customer service amid the rapid exchange of data is likely to bode well for the market. Establishment of data centers to handle the massive volume and data traffic can positively impact the RF Test Equipment market till 2023.
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A consortium comprising prominent players such as National Instruments, IBM, Intel, and others has been established in January 2019 to form certain standards pertaining to edge computing. With data-driven processes about to grow exponentially, IoT enterprises, smart manufacturing, and operators can benefit from this move tremendously and change their strategy accordingly to gain a larger clientele. This can augur well for the RF test equipment market.
Policies imposing restrictions on certain bandwidths and RF-emitting frequencies can pose a challenge to the market.
Some of the key players of Rf Test Equipment Market include Anritsu (Japan), Fortive (U.S.), Keysight (U.S.), Avnet Silica (Belgium), Teledyne Technologies (U.S.), Cobham (U.K), EXFO (U.S.), AtlanTecRF (U.K),National Instruments (U.S.), Rohde & Schwarz (Germany), Teradyne (U.S.), Giga-tronics (U.S.), Chroma (Taiwan), Good Will Instruments (Taiwan), B&K Precision (U.S.), and Yokogawa Electric (Japan).
The RF Test Equipment market is differentiated as type, form factor, frequency, and end-user.
By type, the RF test equipment market is segregated as an oscilloscope, signal generators, spectrum analyzers, network analyzers, and others. On the basis of form factor, the market is divided into bench-top, portable, and modular. Furthermore, on the basis of a range of frequency the market is sub-divided into less than 1 GHz, between 1GHz to 6 GHz, and more than 6GHz. On the basis of end-user, the market is sub-segmented into IT & telecommunications, consumer electronics, automotive, aerospace & defense, academic & research institutions, medical, industrial, and others.
According to Market Research Future analysis, RF Test Equipment Market has been valued at approximately over USD 2.83 billion growing with a 5% CAGR during the forecast period 2017-2023.
Geographically, the RF Test Equipment is segmented into four different regions namely North America, Asia Pacific, Europe, and the Rest of the World.
Asia Pacific is anticipated to be the fastest growing region in the RF Test Equipment market over the forecast period. India, Japan, and China are the leading countries in the region. Owing to the rise in disposable income which in turn increase the demand for consumer appliances and smartphones. North America is also expected to have substantial growth in the market. The United States, Canada, and Mexico are expected to be leading countries in the region. This is attributed to the increased adoption of wireless technology.
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- Electronics and semiconductor companies
- Technical standards organizations
- Research institutes and organizations
- Government and financial institutions
- Venture capitalists
- Private equity firms
- Analysts and strategic business planners
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