The RF test equipment market is expected to reach USD 3.21 Billion by 2023 from USD 2.32 Billion in 2016, at a CAGR of 4.92% between 2017 and 2023.
The major factors driving the growth of the RF test equipment market include the growing adoption of wireless networking in in-building communication systems, rising focus on developing 5G network-based devices, and increasing deployment of IoT technology-based devices for various applications such as telecommunications, automotive, aerospace & defense, and consumer electronics.
Oscilloscopes held the largest market share in 2016. For the installation of technologies, robust infrastructure and supporting technologies are required. Parameters such as transmission power and modulating frequency are crucial for error-free working. To ensure the quality of the signal in real-time, an oscilloscope is a key equipment.
Moreover, the adoption rate of PXI oscilloscopes is quite high for any test and measurement system due to their ability to acquire and analyze both time- and frequency-domain analog signals and to provide higher accuracy, bandwidth, and signal flexibility compared to traditional benchtop oscilloscopes.
The market for RF test equipment having a frequency of more than 6 GHz is expected to grow significantly during the forecast period. With the growing demand for 5G connectivity technology, the demand for RF test equipment with more than 6 GHz frequency is likely to be increased in the coming years.
Additionally, various research projects are using potential spectrum above 6 GHz in the telecommunications industry, which boost the growth of this market in the near future.
These players adopted various strategies such as product developments, acquisitions, partnerships, collaborations, and agreements to achieve growth in the RF test equipment market.
Growing Adoption of Wireless Networking in In-Building Communication Systems
Rising Focus on Developing 5g Network-Based Devices
Increasing Deployment of IoT Technology-Based Devices for Various Applications
Requirement of Longer Timelines and Extended R&D for Developing New Communication Technologies
Adoption of RF Instruments for Automotive Applications
Adoption of Wireless Technology-Based Devices for Proximity Marketing