Market Size (2016)
2016
$23.56B
Semiconductor
Test and Measurement Equipment Market
By Segment, By Region, And Segment Forecasts, 2016 – 2025
Vertical: SEMIBase Year: 20189 Sections
Executive Summary
Test and Measurement Equipment Market — Snapshot
Projected (2025)
2025
$34.59B
CAGR (2016–2025)
4.4%
4.4%Key Players
100+
The test and measurement equipment have wide applications in electronics, laboratories and research institutes, manufacturing analysis, and material analysis. The various devices that are used for testing include spectrum analyzers, oscilloscopes, signal generators, network analyzers among others. The test and measurement equipment offer high performance products for the calibration of devices by the semiconductor equipment suppliers. This equipment is widely used for testing plug-in electric vehicles, smart meters, solar panels, wind turbines, sensors, and other products for various industrial applications. The various factors contributing to the high adoption of test and measurement equipment includes rising complexities in the design of consumer electronic devices and the need for high-efficiency test equipment to increase the manufacturing throughput. Furthermore, the growing automotive industry and advancements in cellular infrastructure offer opportunities for the market players. The research study on the global test equipment market provides detailed information on market drivers and restraints, market size, competitive landscape, and growth opportunities. This research report segments the global test and measurement equipment market into the component, product, services, and application. Each of the markets has been further segmented by region/country.
The major factors contributing towards the market growth include growing adoption of consumer electronics devices, and technological advancement in telecommunication and networking. The roll-out of 5G network across several regions has significantly increases the adoption of wireless test and measurement equipment such as logic analyzers, spectrum analyzers, and network analyzers. The role of test and measurement instruments has immense importance in telecommunication to rectify faults and distortions in the networks for providing better signal quality. Although the telecommunication industry remains one of the dominating applications segments of test and measurement equipment market, other applications such as automotive, electronics and semiconductor, and healthcare also show a significant growth rate during the forecast period. The market witnesses a growth opportunity due to commercialization of IoT. However, increased penetration of rental and leasing services restraint the market growth upto certain extent.
The regions analyzed in this study include North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is the most significant contributor to market growth; however, Asia-Pacific is expected to grow with the fastest CAGR during the review period of 2019–2025. The growth in this region for the said market is due to the growth of the electronics and semiconductor industry, and advancements in the telecom infrastructure. The test and measurement equipment market is highly competitive with the presence of several vendors that offer feature-rich and innovative solutions to their customers. Most of the major market players are adopting organic and inorganic growth strategies, such as product enhancement, acquisitions, and collaborations to improve their position and excel in the test and measurement equipment market. Furthermore, the test equipment providers are adopting product launches as an essential strategy to increase their offerings in the test and measurement equipment market.
Key Insight
The Test and Measurement Equipment Market market is projected to grow at a CAGR of 4.4% from 2016 to 2025.
Market Performance Trend
Historical performance and future projections (2020–2030, USD Billion)
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What this report covers
- Geographic Coverage: This analysis covers 5 regions: Middle East and Africa, North America, Asia Pacific, Europe, South America.
- Market Segmentation: The market is analyzed across key segments with forecasts from 2016 to 2025.
- Competitive Landscape: 100 leading companies are profiled, covering market positioning, strategies, and recent developments.
Market Size (USD Mn)
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View Subscription PlansMarket Overview
Test and Measurement Equipment Market — Growth Trajectory
Test equipment generate signals and capture the responses from the various devices in the testing phase to ensure proper operation and repair faults with the help of digital multimeters, oscilloscopes, and signal generators among others. The devices used for the measurement of specific physical quantities are known as measurement equipment. This equipment is used in various industrial applications to measure length, weight, pressure, current, voltage, and temperature. Measuring instruments are categorized as analog and digital. Analog equipment measures the magnitude of the quantity with the help of pointer movement. Digital measuring equipment measure the quantity and store them in a digital format. Test and measuring equipment are mostly used for testing devices across aerospace and defense, healthcare industries, and have major applications in the telecommunication, electronics and semiconductor, and manufacturing industries.
Market Size Trend (USD Mn)
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How this market is segmented
- Product Product is broken down into: General Purpose Test Equipment, Wireless Test Equipment, RF Test Chambers, Semiconductor Test Equipment.
- Component Component is broken down into: Cables Assemblies, Connectors, Value Added Accessories.
- Services Services is broken down into: Professional Services, Managed Services.
- Application Application is broken down into: Aerospace & Defense, Healthcare & Medical Equipment, Telecommunication, Electronics & Semiconductors, Industrial & Manufacturing, Automotive, Application_Others.
Geographic Analysis
Regional market breakdown
- Middle East and Africa Middle East and Africa market size reached $1.42B in 2016 and is projected to reach $1.85B by 2025, growing at a CAGR of 3.0%.
- North America North America market size reached $7.39B in 2016 and is projected to reach $10.40B by 2025, growing at a CAGR of 3.9%.
- Asia Pacific Asia Pacific market size reached $7.07B in 2016 and is projected to reach $11.20B by 2025, growing at a CAGR of 5.2%.
- Europe Europe market size reached $6.47B in 2016 and is projected to reach $9.50B by 2025, growing at a CAGR of 4.4%.
- South America South America market size reached $1.21B in 2016 and is projected to reach $1.63B by 2025, growing at a CAGR of 3.3%.
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View Subscription PlansResearch Methodology
Test and Measurement Equipment Market — How We Researched This Market
This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2016 – 2018
Forecast Period
2018 – 2025
Primary Interviews
150+
Research Process
Historical data (2016–2018) and forecast period (2018–2025)
1
Problem Definition
- Market scoping
- Objective setting
- Framework design
2
Secondary Research
- Literature review
- Data mining
- Trend analysis
3
Primary Research
- Expert interviews
- Field visits
- Surveys
4
Data Analysis
- Quantitative modeling
- Statistical testing
- Validation
5
Insights & Reporting
- Synthesis
- Recommendations
- Visualization
Research Depth
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
Historical vs. Forecast Data
Historical (observed)
Forecast (modelled)
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View Subscription PlansCompetitive Landscape & Porter's Five Forces
Test and Measurement Equipment Market — Competitive Analysis
Michael Porter’s five forces model gives a framework that models the global test and measurement equipment market, which is influenced by five forces. The strategic business managers, trying to create an edge over competitive firms in the global test and measurement equipment market can utilize this model to better comprehend the industry connection in which their firm operates. The components of each of the forces and the degree of impact of each component in the context of the global test and measurement equipment market have been broken down and analyzed
Threat of New Entrants
The global test and measurement equipment market witnesses the presence of several established players from Asia, Europe and the US. The initial cost required for establishing manufacturing facilities in the test and measurement equipment market is moderate. Furthermore, the cost of integrating/manufacturing the components with raw materials is less since this fall under the discrete manufacturing process. Moreover, favorable government regulations further lower the barriers of entry for the new players. Therefore, new entrants are expected to pose a moderate threat to the existing players due to less potential in the African and South American region.
Bargaining Power of Suppliers
There are various global and local players present in the test and measurement equipment market, which includes Bosch Rexroth, National Instruments, and Infineon Technologies AG. The raw materials required to produce electronic components have low differentiation as they are generally supplied by a fixed number of material suppliers globally. Due to the presence of a large number of raw material suppliers outside Europe and South America, the manufacturers procure the material from outside the region, as a result, the bargaining power of suppliers becomes high. Furthermore, the cost of switching suppliers for the manufacturers is high due to limited number of regional and local suppliers. Thus, the suppliers of the test and measurement equipment are expected to have high bargaining power during the forecast period.
Threat of Substitutes
Currently, the test and measurement equipment are being highly utilized across various industries such as aerospace, aviation, telecommunication, and electronics. The wide scope of these equipment for various applications is likely to fuel their adoption in the forecast period. Moreover, close replacements for the testing equipment are not available in the market at present. Furthermore, the end users of test and measurement equipment mostly rely on traditional systems. Therefore the threat of the substitutes is likely to be low in the upcoming years.
Bargaining Power of Buyers
The buyers in the test and measurement equipment market comprise distributors and end-user industries such as aerospace, aviation, telecommunication, electronics, and semiconductor. Since most of the suppliers are established outside Europe, the local and regional distributors hold low power over the prices. Furthermore, the developing countries do not have highly mature end-use industries, and the technical expertise of the manufacturers is less. This further increases the cost of switching from one supplier to another. Since the manufacturers rely mostly on global players, the brand loyalty is moderate. Therefore, the bargaining power of the buyers is expected to be low during the forecast period.
Intensity of Rivalry
The players in the global test and measurement equipment market are expected to witness a moderate degree of rivalry during the forecast period. This is because the products provided by the suppliers offer moderate differentiation, which results in high brand loyalty among the buyers. Moreover, the limited presence of local players in the market makes the rivalry moderate.
Quantitative Analysis
Regional Breakdown
Regional market breakdown for Test and Measurement Equipment Market.
Regional Market Size (USD Mn)
Market estimates by geography (2025)
USD Mn
InsightAsia Pacific leads with $11.20B by 2025.
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View Subscription PlansRegional Market Data
| REGION | 2016 | 2018 | 2025 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $1.42B | $1.59B | $1.85B | 3.0% | 5% |
| North America | $7.39B | $8.66B | $10.40B | 3.9% | 30% |
| Asia Pacific | $7.07B | $8.84B | $11.20B | 5.2% | 32% |
| Europe | $6.47B | $7.75B | $9.50B | 4.4% | 27% |
| South America | $1.21B | $1.38B | $1.63B | 3.3% | 5% |
| Total | $23.56B | $28.22B | $34.59B | 4.4% | 100% |
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Analytics
Test and Measurement Equipment Market — Key Findings
Analytical insights on Test and Measurement Equipment Market covering market dynamics, competitive landscape, and strategic outlook.
Key Analytical Findings
The Test and Measurement Equipment Market market is projected to reach $34.59B by 2025, growing at 4.4% CAGR.
Market Drivers
Consumer electronic companies compete to make devices smaller, smarter, and upgraded with enhanced features; therefore, testing plays a significant role in the consumer electronics industry. Each finished product that is commercialized needs to be tested appropriately to check for its functionality, safety, and performance. The testing process in the consumer electronics industry is typically conducted in multiple stages of the design and development process which ensures efficient product performance and longer lifespan of the devices. The devices are tested at component level, followed by integration tests and end-of-line production tests. The component level testing can be either validation tests that are performed during the design phase or automated end-of-line production tests. The chipsets are again validated for their functionality, conformance to wireless standards, and compliance with the EMI/EMC regulations. Therefore, the growing adoption of consumer electronics products and devices in around the world has led to the growth of the test and measurement equipment market to provide enhanced quality devices to the consumers before its deployment.
Market Opportunities
The emergence of the Internet of things (IoT) applications are expected to have a significant impact on the test and measurement market owing to the increased connectivity and maximized use of these equipment for improving the quality of IoT devices and networks. The commercialization of the Internet of things (IoT) will thereby focus on achieving zero defects in products with the help of the smarter and efficient test systems. The original equipment manufacturers are also likely to focus on developing the testing and measurement systems, thus offering high reliability, data security and connectivity, power efficiency, and affordability. Further, multiple key players have started upgrading their products to address the rising demand for testing equipment for the development of the Internet of things. Tektronix recently released SignalVu software, which enables researchers and developers developing IoT platform to perform RF modulation measurements with unprecedented margins of error. Thus, the increased use of testing equipment for IoT applications is expected to drive the growth of the testing and measurement equipment market during the forecast period.
Market Restraints
The high prices of the test and measurement equipment remains a major concern slowing down the market growth. There is a rise in the awareness about expenses related to test and measurement such as oscilloscopes, waveform generators, wireless communications testers and spectrum analyzers among organizations of varied sizes. The high cost of these equipment has driven scrutiny from financial directors and controllers across industries. This has led companies devise to strategies to manage the testing and measurement equipment assets better. Companies have started opting for different acquisition means including rental and leasing services for the testing and measurement instruments. One of the major factors encouraging companies to opt for rental services for this equipment is short lengths of the term of the requirement for this equipment. Rental testing and measurement instruments are ideal for one-off projects for R&D and manufacturing applications use. Moreover, constantly evolving technologies are driving the demand for rental services of testing and measurement equipment after new technology advancements. Another factor encouraging companies to opt for rental oscilloscope equipment is the low cost of ownership that the rental services offer. Currently, the market penetration of rental services is low, but it is expected to steadily increase in the coming years. However, this growth is expected to negatively impact the growth of testing and measurement equipment market.
The supply side and the demand side operating in the market are following a more strategic approach to purchase or lease the equipment. It becomes challenging for the companies in test and measurement equipment market to broaden their product base as customers are becoming aware of the benefits of leasing and renting services. The benefit of these services earlier was observed for short-term requirements; however, the current scenario and future trends are expected to change as the customers are turning to rental specialists, especially in telecommunication and IT industry. The current spending on renting and leasing services account for nearly 32% of the total spends in test and measurement industry and is expected to reach 57% by 2025. Outsourcing is another major challenge for the market as the suppliers in test and measurement equipment market need to rapidly change their product offering in order to meet the changing customer demands.
Strategic Outlook and Future Directions
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Companies
Key companies profiled in Test and Measurement Equipment Market
Profiles of 100 companies operating in the Test and Measurement Equipment Market market, including revenue, employee count, and market positioning where available.
Showing 100 of 100 companies
Wyze Labs,
Wyze Labs, Inc.
Semiconductor
Company Headquarters: United States Founded: 2017 Workforce: ~123 Company Working: Wyze Labs, Inc. is a company that specializes in creating and producing smart home gadgets, including but not limited to cameras, smart locks, and other home automation products. The company has gained widespread popularity due to its affordable yet highly functional and convenient smart home devices. Wyze's products are designed to cater to a wide range of consumers and are competitively priced compared to other smart home gadgets available in the market. Wyze's product line encompasses indoor and outdoor home security cameras, video doorbells, smart locks, and other home automation products. Users can enjoy features such as two-way audio, motion detection, and integration with smartphone apps, allowing them to remotely monitor their homes and effortlessly manage their smart home devices.
RevenueN/A
Employees123
Market CapN/A
Founded2016
United States
LEVEL HOME
LEVEL HOME INC
Semiconductor
Company Headquarters: United States Founded: 2016 Workforce: ~50 Company Working: LEVEL HOME INC.(Level) is a technology company specializing in designing and manufacturing smart locks and other home automation products. Level is focused on providing users with high security and convenience through its smart lock products. The company's flagship product, the Level Lock, is a smart lock installed on existing deadbolts, allowing users to keep their current keys and lock hardware while upgrading to a smart lock. The Level Lock features touch-to-open technology, remote access, and voice control, making it a convenient and secure way to control access to your home. In addition to its smart lock products, Level Home Inc. also offers a range of other home automation products, including the Level Touch, a smart lock that replaces the existing door handle, and the Level Bolt, a retrofit smart lock that can be installed on the inside of the door.
RevenueN/A
Employees50
Market CapN/A
Founded2015
United States
Bosma
Bosma
Semiconductor
Company Headquarters: California Founded: 2015 Workforce: ~500 Company Working: Bosma. is a company that specializes in the design and manufacture of smart locks with a focus on accessibility for people with vision loss. The company adopts the principles of universal design in developing its products to ensure that they are usable by people of all abilities. Bosma's smart locks come with a range of features that make them accessible to people with vision loss, such as audible feedback, voice commands, and Braille keypads. By providing these features, Bosma's smart locks enable people with vision loss to lock and unlock their doors independently, enhancing their sense of security and independence. The locks are user-friendly and provide a high level of security, making them a valuable tool for people with vision loss.
RevenueN/A
Employees500
Market CapN/A
Founded2014
California
U-TEC Grou
U-TEC Group Inc
Semiconductor
Company Headquarters: United States Founded: 2013 Workforce: ~25 Company Working: U-TEC Group Inc specializes in developing and manufacturing smart locks and security systems for residential and commercial properties. The company was established in 2015 and has since been offering a wide range of smart locks that utilize diverse technologies, such as Bluetooth, Wi-Fi, and fingerprint recognition, which enable users to manage access control from their mobile devices. Among the features of U-TEC smart locks are temporary access codes, remote access, biometric recognition, and keyless entry. In addition to its smart locks, U-Tec provides other security products like alarm systems, video cameras, and doorbells. The company's products are user-friendly and easy to install, with intuitive controls and interfaces.
RevenueN/A
Employees25
Market CapN/A
Founded2012
United States
HavenLock,
HavenLock, Inc.
Semiconductor
Company Headquarters: United States Founded: 2014 Workforce: ~50 Company Working: HavenLock, Inc. is at the forefront of providing secure access control and security solutions through the cloud. Company caters to clients in various fields, including commercial real estate, healthcare, education, and manufacturing. The HavenLock system utilizes cutting-edge encryption technology to securely manage physical keys, keycards, badges, and mobile credentials. This offers customers more control, accountability, and visibility into who has access to their assets and facilities. Besides reducing costs and improving compliance, HavenLock's solutions also help mitigate risk. HavenLock has a team of experts in security and technology who have leveraged years of experience to design an advanced yet user-friendly platform for customers. Additionally, with HavenLock's responsive 24/7 customer support team, clients can be assured of receiving prompt assistance. The HavenLock cloud platform operates on Amazon Web Services and integrates with leading vendors' electronic access control systems. Furthermore, HavenLock's API and open architecture enable businesses to integrate with other systems seamlessly they may use.
RevenueN/A
Employees50
Market CapN/A
Founded2013
United States
Master Loc
Master Lock Company LLC.
Semiconductor
Company Headquarters: United States Founded: 1921 Workforce: ~7,500 Company Working: Master Lock Company LLC. is a global leader in the development and manufacturing of security products, including padlocks, combination locks, and other security solutions. Master Lock's product line includes a wide range of padlocks, safety lockout devices, digital locks, and other security solutions for residential, commercial, and industrial use. The company has a strong reputation for quality and durability, and its products are widely used in schools, hospitals, airports, and other high-security environments. In addition to its core product offerings, Master Lock provides services, including key cutting, lock repair, and customized security solutions for specific customer needs. The company is committed to innovation and strongly focuses on research and development to stay ahead of evolving security threats. Master Lock is owned by Fortune Brands innovations, a leading home and security products company that also owns other well-known brands such as Moen, Therma-Tru Doors, and Fiberon Decking.
Revenue$3.6B
Employees7,500
Market CapN/A
Founded1920
United States
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I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
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R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Test and Measurement Equipment Market
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