Global General Purpose Test Equipment (GPTE) Market 2019-2023
About General Purpose Test Equipment (GPTE)
General purpose test equipment (GPTE) is used from initial prototype testing to final installation testing of electronic devices.
Technavio’s analysts forecast the global general purpose test equipment (GPTE) market to grow at a CAGR of 4.93% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global general purpose test equipment (GPTE) market for 2019-2023. This market research report offers a comprehensive analysis of the market segmentation by product (oscilloscope, spectrum analyzer, signal generator, network analyzer, and others), and end-user (communication, industrial, aerospace and defense, electronics and semiconductors, and others).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global General Purpose Test Equipment (GPTE) Market 2019-2023
Technavio recognizes the following companies as the key players in the global general purpose test equipment (GPTE) market: Anritsu, Keysight Technologies, Lauterbach, National Instruments, ROHDE&SCHWARZ, and Teledyne Technologies.
Commenting on the report, an analyst from Technavio’s team said: “The ability to provide high quality services by rolling out 5G network will induce communication service providers to upgrade their infrastructure. The development of 5G mobile network will bring new test challenges such as repeatability, and configuration which will drive the demand for general purpose test equipment, resulting in market growth.”
According to the report, one of the major drivers for this market is the roll-out of LTE and LTE-A networks by telecommunication service providers. Network operators are upgrading their networks to LTE and LTE-Advanced (4G) technologies to cater to the demand of their customers for data-based services. These networks require high quality LTE testing equipment to test their standards and protocols, which, in turn will create a demand for general purpose test equipment (GPTE).
Further, the report states that one of the major factors hindering the growth of this market is the high penetration potential for rental and leasing services. Growing awareness of rental and leasing services, and increased R&D and manufacturing activities is leading end-user industries to opt for rented general purpose testing equipment. This, in turn, is hampering the growth of the rented general purpose testing equipment market.