NEW YORK, Sept. 6, 2022 /PRNewswire/ — The communication test equipment market size is expected to grow by USD 5.95 billion from 2021 to 2026, progressing at a CAGR of 9.38% as per the latest market report by Technavio. Also, the market to record an 8.56% YOY growth rate in 2022. Government initiatives for high-speed network connectivity is one of the key communication test equipment market trends fueling the market growth. Currently, governments are increasingly focusing on implementing automation across the sector, which is attracting investments in building high-speed communication network infrastructure. As a result, market participants are collaborating with governments to build network infrastructure. This will increase the need for communication test equipment , which is used to test telecommunication networks for providing high-speed network connectivity. Thus, the increasing government initiatives for the development of high-speed networks will accelerate the development of communication test equipment, such as frequency counter, oscilloscope, and spectrum analyzer, for high-speed network connectivity during the forecast period. To know about the other market trends – Grab a Free Sample Report in MINUTES
Communication Test Equipment Market: Market Dynamics
- Drivers – The increasing penetration of smart devices, the growing number of pre-commercial 5G trials & the growth of smart cities are the major factors propelling the market growth.
- Challenges – The factors such as high costs of deployment, growing demand for refurbished and used communication test equipment & adoption of virtualized radio access network (V-RAN) will hamper the market growth.
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Communication Test Equipment Market: Segmentation Analysis
The report extensively covers communication test equipment market segmentation by application (telecommunication, avionics and defense, automotive, and others) and geography (APAC, North America, Europe, South Americaand the Middle East and Africa)
- Revenue Generating Segment –The communication test equipment market share growth in the telecommunication segment will be significant during the forecast period. The adoption of communication test equipment is dependent on the growth of the telecommunications sector. Following commercial expansion and growing subscriber bases, operators are moving toward 4G services and 5G services. In addition, R&D investments in the emerging LTE-advanced (LTE-A) technologies and the commercialization of 5G in 2020 have fueled the growth of the telecommunications sector.
- Regional Highlights – 42% of the market’s growth will originate from APAC during the forecast period. China, Japan, South Koreaand Taiwan are the key markets for the CTE market in APAC. Market growth in this region will be slower than the growth of the market in North America. Rising demand for mobile communication devices will facilitate the communication test equipment market growth in APAC over the forecast period.
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Communication Test Equipment Market – Vendor Analysis
The communication test equipment market is fragmented and the vendors are deploying growth strategies such as technological innovations and strategic partnerships and acquisitions to compete in the market.
- Analog Devices Inc.
- Anritsu Corp.
- Aplab Ltd.
- Astronics Corp.
- Calnex Solutions Plc
- EXFO Inc.
- GL Communications Inc.
- Good Will Instrument Co. Ltd.
- Keysight Technologies Inc.
- Megger Group Ltd.
- National Instruments Corp.
- NetScout Systems Inc.
- Rohde and Schwarz GmbH and Co. KG
- Spirent Communications Plc
- Tektronix Inc.
- TESSCO Technologies Inc.
- Texas Instruments Inc.
- Viavi Solutions Inc.
- Yokogawa Electric Corp.
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What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2020, 2021, and 2025
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
The competitive scenario provided in the Communication Test Equipment Market Report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share , etc. Don’t wait, Make a strategic approach & boost your business goals with our Communication Test Equipment Market Forecast Report – Buy Now!
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Communication Test Equipment Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 9.38%
Market growth 2022-2026