Global Electrical Testers Market - End-user-based Segmentation and Analysis by Technavio

Technavio has published a new report on the global electrical testers market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global electrical testers market is projected to grow at a CAGR of nearly 4% over the forecast period.

This research report titled ‘Global Electrical Testers Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

 
In terms of geography, APAC dominated the global electrical testers market, driven by the expanding manufacturing base for almost all types of industries. China and India are driving the market owing to their urge to become global economic powerhouses since there is a flow of investments into these two countries owing to the promising business prospects.

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Based on the end-users, the report categorizes the global electrical testers market into the following segments:

  • Semiconductor and consumer electronics sector
  • Industrial sector
  • Automotive sector
  • Aerospace and defense sector

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The top three revenue-generating end-user segments in the global electrical testers market are discussed below:

Semiconductor and consumer electronics sector

The semiconductors and consumer electronics sector use electrical testers to test if the appliances are working as per the required conditions. The use of electrical testers makes it easy to check whether the current, voltage and other electrical features are working properly,” says Anju Ajaykumar, a lead analyst at Technavio for test and measurement research.

Increasing global population and rising disposable incomes have led to the growing use of consumer electronics. The consumer electronics market has grown rapidly owing to advances in technology. Some of the major markets in the consumer electronics sector include laptops, notebook PCs, tablets, cell phones, and digital cameras. This sector’s projected growth is likely to drive the demand for electrical testers during the forecast period.

Industrial sector

Rapid industrialization and the mechanization of manufacturing techniques have led to the growth of the industrial sector. The expansion in the industrial sector, in turn, has led to the increased demand for manufacturing facilities that make use of electrical testers.

North America and Europe are currently experiencing a slow growth in the industrial sector, whereas the Middle East, APAC, and Africa are swiftly expanding. These developments in the industrial sector worldwide are expected to create a market for electrical testers. Also, the growth in installed power capacity will trigger the demand for electrical testers in the market.

Automotive sector

The automotive sector is expected to be the fastest-growing segment of the global electrical testers market, driven by the improving economic situation and the change in lifestyles. The rising consumer confidence has also led to higher demand for new, fuel-efficient, and technologically advanced cars, equipped with more connectivity and safety features, which will create new demand for electrical testers,” says Anju.

Over the past few years, the interest in electrical vehicles (EVs) in the US and China has surged. The growing financial incentives and R&D, rising supportive government subsidies and improving battery technology are driving the EV revolution. These developments in the automotive sector are expected to continue during the forecast period, creating the demand for electrical testers.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Fluke
  • Keysight Technologies
  • Rohde & Schwarz
  • Tektronix

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest study released by Technavio, the global electrical testers market is projected to grow at a CAGR of nearly 4% through 2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com