According to the research report titled ‘Global Test and Measurement Equipment Market Size Study, By Services (Calibration Services, Repair Services/ After-Sales Services), By Product Type (General Purpose Test Equipment, Mechanical Test Equipment), By Verticals (Healthcare, Electronics & Semiconductor, IT & Telecommunications, Aerospace & Defense, Automobile & Transportation, Education & Government), and Regional Forecasts 2022-2028’, available with MarketStudyReport, global test and measurement equipment market is projected to record substantial growth over the period of 2022-2028.

The growing demand for electronic devices, mounting demand for advanced communication technologies, rising adoption of modular instruments by manufacturers and product designers, and advanced networking are the primary factors that are driving the growth of global test and measurement equipment industry.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/5110097/

For those unaware, test and measurement equipment is a type of equipment that is primarily adopted for manufacturing and designing a product to offer the maximum customer satisfaction level. The rising demand for high-performance and power-efficient electronic devices, the implementation of LTE and LTE-Advanced (4G) networks, the emergence of 5G technologies, and the surging adoption of electronic gadgets are also augmenting the overall growth of the market.

Based on the product type, the industry is bifurcated into repair services, after-sales services, and calibration services.

With respect to the verticals landscape, the market is divided into education & government, automobile & transportation, aerospace & defense, IT & telecommunications, electronics & semiconductors, and healthcare.

The geographical bifurcation of this business space extends to Asia-Pacific, North America, Europe, as well as Latin America with key emphasis on the U.S., Canada, the U.K., Germany, France, Italy, Spain, India, China, Japan, South Korea, Australia, Brazil, and Mexico, and the rest of the world.

Meanwhile, North America is estimated to hold the largest market share over the review period owing to the swift expansion of the IT & telecommunications and healthcare sectors, as well as the rapid IoT technology development.

Asia-Pacific market, on the other hand, is projected to showcase a decent CAGR over the forecast timeline, due to the rising trend of connected automobiles and intelligent transportation systems as well as increasing expenditure on R&D activities.

The major companies operating in global test and measurement equipment industry landscape are Texas Instruments Incorporated, VIAVI Solutions Inc., Advantest Corporation, EXFO Inc., National Instruments Corporation, Yokogawa Electric Corporation, Keysight Technologies Inc., Anritsu Corporation, Rohde & Schwarz GmbH & Co KG, and Fortive Corporation.