LONDON--(BUSINESS WIRE)--The global communication test equipment market is expected to grow by USD 3.19 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Rising penetration of smart devices and growing demand for IoT devices is leading to the growth of the communication test equipment market. For instance, the penetration of smart homes is expected to grow from 33% in 2017 to 55.22% in 2023. The smart devices used in smart homes are incorporated with voice recognition, gesture recognition, and augmented reality. This boosts the need for high-speed communication networks as smart devices rely on high-speed networks for the transmission of data. Smart phone manufacturers are developing high-speed network-enabled devices after successfully testing 5G data connections with their smartphones. This accelerates the demand for communication testing equipment. Thus, with the increasing penetration of smart devices, the market for communication test equipment is expected to showcase a positive outlook during the forecast period.
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As per Technavio, the growing number of pre-commercial 5G trials will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Communication Test Equipment Market: Growing Number of Pre-Commercial 5G Trials
Companies around the world are focusing on the development and deployment of 5G networks by conducting pilot tests and 5G trials. As a result, 5G equipment manufacturers are partnering with telecommunication companies to conduct 5G trials. They are incorporating 5G networks into industrial, entertainment, and transportation applications. For instance, Telefonaktiebolaget LM Ericsson, tested driverless trucks in Sweden in October 2018 by partnering with Einride and Telia Company. This is propelling the demand for test equipment, services, instruments, and software for testing 5G or 5G-related components across the globe. Thus, the growing number of pre-commercial 5G trials will boost the growth of the communication test equipment market during the forecast period.
“The growth of smart cities is another major factor that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Communication Test Equipment Market: Segmentation Analysis
This market research report segments the communication test equipment market by application (telecommunication, avionics and defense, automotive, and others), and geographic segmentation (APAC, Europe, MEA, North America, and South America).
The APAC region led the communication test equipment market in 2019, followed by North America, Europe, South America, and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increase in mobile subscriber base and Internet penetration.
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Some of the key topics covered in the report include:
- Avionics and defense
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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