LONDON--(BUSINESS WIRE)--Technavio projects the test and measurement (T&M) equipment market in APAC to post a CAGR of over 3% during the forecast period. Expansion of telecommunication networks is one of the factors that will drive market growth. The communication segment is one of the largest end-users of T&M equipment. T&M equipment is of vital importance for telecommunication service providers, mobile device manufacturers, and network equipment manufacturers to offer their customers high-quality and high-performing services and products. Thus, the expansion in telecommunication networks and the rising capital investment by telecom operators and telecommunication equipment manufacturers will have a direct impact on the demand for T&M equipment during the forecast period.
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In this report, Technavio highlights the growing popularity of modular T&M equipment as one of the key emerging trends driving the test and measurement equipment market in APAC:
Growing popularity of modular T&M equipment
The advances in electronics and T&M technology are driving the demand for modular T&M equipment, which helps end-users increase the service life of T&M equipment while reducing repair and maintenance costs and improving operational efficiency in the industry. One of the biggest challenges for end-users of T&M equipment is constantly changing technology and systems. T&M equipment also needs to be upgraded to produce effective testing and measurement results. These iterative versions may not be compatible with earlier T&M equipment.
However, with the development of modular T&M equipment, the principal test equipment remains functional with only some modules needing replacement or upgrading. As an updated technology is released, the old test or measurement module can be easily replaced by a new or upgraded module. The emergence of high complexity electronics and devices and the need to reduce the cost of testing are expected to spur the growth in demand for modular T&M equipment for instrumentation.
“Although the demand for modular T&M equipment is currently driven by manufacturing industries, where equipment replacement plays a major role due to process downtime constraints and operational efficiency, the demand for modular T&M equipment is expected to witness growth in the R&D and field testing settings during the forecast period,” says a senior analyst at Technavio for test and measurement research.
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Market segmentation and analysis through 2022
This market research report segments the test and measurement equipment market in APAC by product (GPTE, ATE, WTE, and calibration equipment) and by end-user (electronics, communication, general industry, and A&D). The report also presents a detailed analysis of the market’s growth prospects across countries such as China, India, Japan, South Korea, and Taiwan.
In 2017, the electronics segment occupied the largest share of the market due to the extensive use of T&M equipment in electronics and semiconductor manufacturing, and this trend is expected to continue throughout the forecast period.
The GPTE segment dominated the T&M equipment market in APAC, and this trend is expected to continue throughout the forecast period. The WTE segment is expected to witness a significant increase in its market share by 2022.
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