Test And Measurement Market Size & Share Analysis - Growth Trends And Forecasts (2025 - 2030)

The Test And Measurement Market size is estimated at USD 19.06 billion in 2025, and is expected to reach USD 23.99 billion by 2030, at a CAGR of 4.71% during the forecast period (2025-2030).

Testing and measurement play a pivotal role in the operations and manufacturing processes of various industries. These functions find applications across diverse sectors, including automotive, industrial, consumer electronics, research laboratories, and others. They ensure that products meet industry standards, comply with regulations, and function as intended, thereby reducing the risk of defects and failures. In the semiconductor and computing sectors, testing and measurement are vital for quality control, product testing, and debugging electronic components, printed circuit boards (PCBs), and devices. This process helps manufacturers identify and rectify issues early in the production cycle, improving overall efficiency, reliability, and product performance.

Key Highlights

• The market provides a diverse range of test and measurement tools, such as oscilloscopes, digital multimeters, and spectrum analyzers. These tools cater to various industries, including electronics, telecommunications, automotive, and aerospace. Beyond mere measurement, some of this equipment can generate signals for the tested objects, facilitating accurate analysis, performance validation, troubleshooting, and compliance with design specifications. This ensures that products meet quality standards and function as intended in real-world applications. Key advantages of test and measurement systems include:
• Industries are increasingly turning to test and measurement equipment, driven by a heightened demand for precision and efficiency in the design, manufacture, and repair of electronic products. The market's growth is further fueled by the rising adoption of interconnected electronic devices and the advent of cutting-edge technologies, including electric vehicles, autonomous driving, and 5G. These technologies require advanced testing solutions to ensure seamless integration, reliability, and compliance with industry standards, further driving the demand for test and measurement equipment.
• Industries are rapidly transforming with technological advancements, leading to increased complexity and interconnectivity of systems. This evolution underscores a heightened demand for advanced test and measurement (T&M) systems. Several key technological trends are driving this surge in demand, including the integration of IoT (Internet of Things) devices, advancements in 5G technology, the proliferation of AI (Artificial Intelligence), and the increasing adoption of automation across various industrial processes. These trends necessitate precise and reliable T&M systems to ensure seamless operation, compliance, and performance optimization.
• The electric vehicle (EV) industry is on the rise. The International Energy Agency (IEA) reported that global sales of electric vehicles surpassed 14 million units in 2023, marking a significant milestone in the transition toward sustainable transportation. While sales are set to climb in the coming years, various factors, such as government policies, advancements in battery technology, and charging infrastructure development, could influence this growth. Projections indicate that sales will peak under the "Net Zero Emissions by 2050" scenario, which envisions the global energy sector reaching net zero carbon dioxide emissions by 2050. This scenario reflects a concerted global effort to combat climate change through widespread EV adoption. In this scenario, EV sales are anticipated to hit nearly 103.70 million units by 2035, outpacing the "Stated Policies" scenario by a remarkable 40 million units. The "Stated Policies" scenario, on the other hand, assumes a continuation of current government policies without significant additional measures to achieve net zero emissions.
• Small and medium-sized enterprises (SMEs) face significant hurdles in the test and measurement equipment market due to the steep costs of advanced testing solutions. These high costs often limit SMEs' ability to adopt sophisticated technologies, thereby restricting their operational efficiency, scalability, and competitiveness in the market. Additionally, the financial burden associated with acquiring and maintaining such equipment can deter SMEs from investing in innovation, further widening the gap between them and larger enterprises.
• World Bank forecasts indicate that global growth is projected to stabilize at 2.7% in 2025-26. While this rate may seem steady, the World Bank warns it's too low to drive sustained economic development. A sluggish global economy can lead to reduced industrial output, lower capital expenditure, and constrained Research and Development (R&D) budgets, all of which could negatively impact the demand for test and measurement systems. Such macroeconomic trends could cast a shadow on the global economic outlook, potentially hindering the growth of the test and measurement market by limiting the ability of enterprises to invest in advanced technologies.

Test And Measurement Market Trends

Automotive Industry to be the Largest End User

• Over the years, the automotive industry has undergone a significant evolution, resulting in the creation of some of the most advanced vehicles. As powertrains electrify and the demand for extended software services grows, both the automotive and commercial vehicle sectors engage in a global race, driven by economic incentives, to innovate and introduce superior concepts. Key drivers for product development include convenience, efficiency, and a minimal environmental footprint. Additionally, the push for complex powertrain configurations, lightweight designs, and heightened autonomy is spurring the creation of new automotive components and electronic units.
• Yet, this evolution amplifies the demand for validation toolsets and end-of-line production verifications. These measures ensure that automotive components not only perform optimally but also boast reliability. Take, for instance, the sophisticated RF electronic components now prevalent in vehicles. While they enhance safety, efficiency, and connectivity, they simultaneously introduce challenges in RF testing and verification. The increasing complexity of these components necessitates advanced testing methodologies to ensure they meet performance and safety standards.
• Given the stringent regulatory and internal standards automotive manufacturers must adhere to, it's imperative that RF applications in new vehicles undergo rigorous testing. This includes scrutinizing transmitter and receiver systems alongside their EMI signatures. Take CISPR 25, an international standard governing electronic and electrical components in vehicles, trailers, and related devices. Beyond CISPR 25, many manufacturers, like Ford Motor Company with its FMC1278 EMI specifications, introduce supplementary standards. For instance, the emission requirements for Remote Keyless Entry (RKE) and Tire Pressure Monitoring System (TPMS) systems align with the RE 310 Level 1 and 2 specifications. These standards ensure that components not only comply with regulatory requirements but also meet the specific operational needs of individual manufacturers, thereby maintaining product integrity and consumer trust.
• Designing products to minimize Electromagnetic Interference (EMI) signatures demands significant time and effort. Engineers typically adopt best design practices to mitigate potential EMI issues. It's standard to conduct pre-compliance measurements during the design and prototyping phases. This proactive approach identifies and rectifies EMI challenges before the product undergoes compliance testing, thereby reducing the risk of failure during final assessments and curtailing costs at compliance testing facilities. By addressing potential issues early in the development cycle, manufacturers can avoid costly redesigns and delays, ensuring a smoother path to market.
• while there's been a recent deceleration, annual production of electric vehicles (EVs) has surged. Data from the International Energy Agency (IEA) highlight China's dominance, both as a producer and consumer of EVs. In 2024, China's EV sales soared to 10.1 million units, a stark rise from 1.1 million units in 2020. Given that electric vehicles necessitate extensive testing and measurement equipment for evaluating battery performance and electronic components, this trend bodes well for the growth of the studied market. The increasing focus on sustainability and stringent emission regulations further amplifies the demand for EVs, creating a ripple effect on the associated testing and measurement systems market.
• Other regions are echoing this trend, with both demand and production of EVs and automobiles on the rise. Countries in Europe and North America are witnessing significant investments in EV manufacturing facilities, supported by favorable policies and growing consumer awareness about environmental concerns.

Asia Pacific to Register Major Growth

• Robust growth opportunities await the test and measurement systems market in the Asia Pacific region. This anticipated growth is bolstered by the expansion of major end-user industries in the region. Factors driving this market growth include the telecom services expansion, heightened research and development investments, and the burgeoning automotive, aerospace, and defense sectors. The increasing penetration of 5G technology and the growing demand for connected devices are further fueling the need for advanced test and measurement systems in the telecom sector. Similarly, the automotive industry is witnessing a surge in demand for electric vehicles (EVs) and autonomous vehicles, necessitating precise testing solutions to ensure safety and performance.
• Key sectors such as electronics, automotive, and telecommunications are ramping up their Research and Development (R&D) investments. Furthermore, a heightened focus on quality control and adherence to international standards is accelerating the uptake of advanced test and measurement equipment. The electronics sector, in particular, is driving demand for sophisticated testing systems due to the increasing complexity of electronic components and devices. Additionally, the push for compliance with global standards is compelling industries to adopt cutting-edge testing solutions to maintain competitiveness in the global market.
• Asia Pacific has emerged as a powerhouse, accounting for over half of the world's factory output. Even as global trends lean towards nearshoring and diversifying supply chains, Asia Pacific continues to be a favored manufacturing hub. This enduring preference is bolstered by a rebound in electronics exports and robust growth in the semiconductor and renewable energy sectors, which are critical to the region's economic development and global competitiveness.
• Companies are increasingly setting up shop in Asia Pacific, lured by its rich talent pool, competitive costs, and enticing government incentives. Recognizing advanced manufacturing as a pivotal growth engine, governments are actively courting foreign direct investment (FDI) in the sector. These incentives often include tax breaks, subsidies, and streamlined regulatory processes, making the region an attractive destination for global manufacturers seeking to optimize operations and reduce costs.

Test And Measurement Industry Overview

In the studied market, innovation has granted a moderately high sustainable competitive advantage, driven by buyers' demand for more efficient solutions. Market competition is influenced by factors such as price, product offerings, and market share, as well as the intensity of these competitive efforts.

Competition in the test and measurement industry is heating up, fueled by technological advancements and market consolidation, with both established leaders and emerging players vying for dominance.

Prominent players in the market include Keysight Technologies, Fortive, Rohde & Schwarz, National Instruments, Teledyne Technologies, Anritsu, Yokogawa Electric, and Advantest.

Growth is being propelled by innovations such as AI-powered test equipment and augmented reality. For example, in October 2024, Keysight Technologies, Inc. unveiled its Interconnect and Network Performance Tester 800GE Benchtop. This new platform, designed for multiport, multi-user, and multi-speed applications, tests areas like artificial intelligence (AI), high-performance computing (HPC), data center interconnects (DCI), and network infrastructure.

Given the substantial investments required to establish a test and measurement system production facility, the market presents higher barriers to exit. Vendors are expected to embrace innovative and competitive strategies, further intensifying the market's competitive landscape.

As a result, the intensity of competitive rivalry is projected to remain elevated throughout the forecast period.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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