Global General Purpose Test Equipment (GPTE) Market 2017-2021
About General Purpose Test Equipment
General purpose test equipment (GPTE) includes different testing and measuring (T&M) equipment such as oscilloscopes, spectrum analyzers, signal generators, power meters, logic analyzers, electronic counters, and multimeters. Industries such as the communications and aerospace and defense use GPTE for testing their design prototypes and finished products to check conformance with the required specifications. This is necessary to ascertain whether the devices are fulfilling their intended purposes.
Technavio’s analysts forecast the global general purpose test equipment market to grow at a CAGR of 4.86% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global general purpose test equipment market for 2017-2021. To calculate the market size, the report considers the demand for GPTE from various end-users.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global General Purpose Test Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global general purpose test equipment market: Anritsu, Fluke, Keysight Technologies, National Instruments, and Rohde & Schwarz.
Other Prominent Vendors in the market are: Thermo Fisher Scientific, APLAB, EXFO, Ixia, Scientech Technologies, Sumitomo Corporation, SPX, Tektronix, and Yokogawa Electric Corporation.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is emergence of 5G network. The increase in the number of mobile users, loads of mobile networks, and the emergence of IoT has triggered the development of 5G networks. These networks enable the use of unused frequency bands such as the V band to transport large amounts of data.”
According to the report, one driver in market is growth in communication sector in APAC. The GPTE solutions are being adopted widely by end-users such as the telecommunication service providers, mobile device manufacturers, network equipment manufacturers, and telecommunication service providers, which have led to growth in the market across the world. The telecommunication service providers are expected to dominate the GPTE market (highest market share during the forecast period). APAC offers growth opportunity for GPTE equipment. This is due to the end-users such as the mobile device manufacturers and enterprises that are turning toward GPTE and other testing equipment to offer their customers high quality and performance services.
Further, the report states that one challenges in market is price-sensitive end-users. Advances in technology have encouraged companies to invest in innovative products, thus increasing market competitiveness. Evolving consumer preferences have increased the need for investments in product development. The majority of GPTE vendors are dependent on raw materials from China for the manufacturing processes. The increase in raw material costs and import duty imposed by governments worldwide have increased the production cost of T&M equipment, and thereby also increased the production cost for GPTE.
Anritsu, Fluke, Keysight Technologies, National Instruments, Rohde & Schwarz, Thermo Fisher Scientific, APLAB, EXFO, Ixia, Scientech Technologies, Sumitomo Corporation, SPX, Tektronix, and Yokogawa Electric Corporation.