PUNE, India, July 6, 2016 /PRNewswire/ --
According to the new market research report "Test and Measurement Equipment Market by Service (Calibration Service, and Repair Services), by Equipment Type (General Purpose Test Equipment and Mechanical Test Equipment), by Application, and Geography - Global Trends and Forecast to 2022", published by Marketsandmarkets, the market is estimated to reach USD 35.45 Billion by 2022, at a CAGR of 6.8% between 2016 and 2022.
Browse 75 market data Tables and 57 Figures spread through 198 Pages and in-depth TOC on "Test and Measurement Equipment Market"
Early buyers will receive 10% customization on this report.
Factors driving this market are increased investment in R&D activities, increased demand for testing equipment from consumer electronics and telecommunication sectors.
Healthcare (Medical) application expected to exhibit highest CAGR during the forecast period
With the advancement in technology, many new and advanced devices are employed to measure various medical parameters of a patient. It is very important to test and accurately calibrate these devices according to the standards as their applications are critical and any incorrect reading may prove to be fatal for the patient. To calibrate these devices oscilloscopes and signal generators are widely used. The growing demand for better healthcare services will indirectly drive the Test and Measurement Equipment Market.
Non-destructive test equipment to exhibit the highest CAGR during the forecast period
The market for non-destructive test equipment is expected to grow at the highest CAGR during the forecast period. As the object under test is not destroyed and can be reused after testing, this decreases the overall cost of and is hence preferred over other testing methods.
APAC expected to hold the largest market share by 2022 and experience rapid growth during the forecast period
APAC is expected to hold the largest market share by 2022 owing to major driving forces- it is home to some of the largest multinational corporations such as Yokogawa Electric Corporation (Japan) and Anritsu Corporation (Japan) among others in the test and measurement equipment ecosystem. Majority of consumer electronics industries are concentrated in this region, which makes APAC the dominant market.
Inquiry Before Buying: http://www.marketsandmarkets.com/requestsample.asp?id=116452716
Major players involved in the development of test and measurement equipment are Yokogawa Electric Corporation (Japan), Keysight Technologies, Inc. (U.S.), Rohde & Schwarz GmbH & Co KG (Germany), Viavi Solutions (U.S.), and Advantest Corporation (Japan) among others.
Browse Related Reports
Signal Generator Market by Product, Technology, Applications, End Users (Telecommunication, Electronics Manufacturing, Industrial, Aerospace & Defense, Automotive, Education, and Medical), and by Geography - Global Forecast to 2015 - 2020
Automated Test Equipment Market by Component (Industrial PC, Mass Interconnect, Handler, Prober), Type (Memory, Mixed Signal, Digital), Application (Consumer, Automotive, Aerospace & Defense, Medical) and by Geography - Analysis & Forecast (2013-2020)
MarketsandMarkets is the world's No. 2 firms in terms of annual published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta City, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets