DUBLIN--(BUSINESS WIRE)--The "Test and Measurement Equipment Market by Product (General Purpose Test Equipment and Mechanical Test Equipment), Service (Calibration Services, and Repair Services/After-Sales Services), Application, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The test and measurement equipment market is expected to reach USD 28.98 billion by 2023 from USD 23.51 billion in 2017, at a CAGR of 3.55%.
The increased penetration of modular instrumentation, increasing technological advancement towards networking and communication, increase in the adoption of electronic devices, and increased R&D spending are the factors driving the growth of the test and measurement equipment market.
The test and measurement equipment market for modular instrumentation is expected to witness the highest CAGR between 2017 and 2023. The major factors contributing to this growth are the increasing production and consumption in the automotive sector, technological advancements pertaining to the 5G solutions in the IT and telecommunication sectors, and growing focus of stakeholders on the industry 4.0 and smart applications.
The machine vision inspection equipment is expected to hold the largest share of the market during the forecast period. The market is driven by the increasing adoption of 3D machine vision systems, rising need for quality inspection and automation, growing demand for vision-guided robotic systems, and increasing demand for application-specific machine vision systems. Moreover, realizing the future demand for intelligent transport systems and automated vehicles, the connected vehicle companies and city authorities are increasingly adopting machine vision systems.
- B&K Precision
- DS Instruments
- Freedom Communication
- Gw Instek
- Leader Instruments
- National Instruments
- Rohde & Schwarz
- Stanford Research Systems
- Texas Instruments
- Yokogawa Electric
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Test and Measurement Equipment Market, By Product
7 Test and Measurement Equipment Market, By Service Type
8 Test and Measurement Equipment Market, By End-Use Sector
9 Test and Measurement Equipment Market, By Geography
10 Competitive Landscape
11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/dpmjgz/global_test_and?w=4