The APAC test and measurement equipment market size is forecast to reach $7.3 billion by 2026 and is estimated to grow at a CAGR of 5.19% during the forecast period 2021-2026. The ongoing digital transformation in automotive industry and deployment of electric and hybrid electric vehicles is boosting the retrofitting of devices and equipment embedded with a wide range of test and measurement equipment such as electrical tester, digital multi-meters, digital oscilloscope, spectrum analyzer, and environmental testers. Data centers, advanced telecom infrastructure, and automotive are some major end-use applications that require advanced automated test and measuring equipment to meet modern testing requirement. The data centers utilize various complex electronics devices and thus a large number of test and measurement equipment are deployed in these data center to monitor device condition, signal strength, calibration service, and data transmission condition. These factors are set to propel the APAC Test and Measurement Industry.
Modern electronic devices in automobiles are boosting the need for RF testing equipment (Radio Frequency testing equipment) significantly, especially automated testing equipment.
China holds the majority market share owing to large demand from telecom and automotive industry due to rising Battery and Hybrid Electric Vehicle market.
Changing landscape of communication infrastructure and digital transformation in various industries is uplifting the test and measurement equipment market particularly for bit error rate testing and calibration services.
Test and and measurement market is fragmented however major vendors are looking forward to consolidate the market through merger and acquisition.
APAC Test and Measurement Segment Analysis – By Equipment
APAC Test and Measurement Segment Analysis – By Industry vertical
APAC Test and Measurement Segment Analysis – By Geography
APAC Test and Measurement Drivers
Development communication infrastructure coupled with rising popularity of IoT based technology:
Increasing demand from power management and consumer electronics application:
APAC Test and Measurement Challenges
Designing challenge coupled with high cost
APAC Test and Measurement Market Landscape
- In February 2021, Thermo Fisher Scientific announced that it completed the acquisition of Mesa Biotech. Mesa Biotech develops the Accula system for point-of-care PCR-based testing for infectious disease diagnoses.
- In 2019, Liquid Instruments announced to raise $8.16 Mn to increase its product line for research, education, and industrial measurement markets in the US, Europe, and Asia.