Test and Measurement Equipment Market: Technological Advances Emerge as a Boon

Products in the test and measurement equipment market are gaining increased traction worldwide, thanks to rising new technologies and advancements. Test and measurement equipment are used in a wide variety of fields such as research labs, manufacturing, electronics. These equipment are mainly deployed for particle and material analysis purposes. These equipment inform manufacturers about key qualities such as fatigue, hardness, compression, and torsion. The electronics industry is witnessing various product developments such as smartphones, Internet of Things (IoT) devices, and wearable devices. Hence, rise in demand for these products, upcoming 5G technology, and growing concern for safety measurements of these devices, is expected to drive significant growth for the test and measurement equipment market.

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Additionally, the market players witnessed a growing demand from aerospace, automotive, semiconductor, and healthcare industry. Due to growing applications in modern devices, the test and measurement equipment market reached US$ 20 bn in evaluation in 2018.

Modularity Leads the Way for the Test and Measurement Equipment Market

Modularity is a process of designing various modules first and combing them to form a single envisioned entity. Due to growing complexities in manufacturing advanced products and convergence of technologies, the test and measurement equipment market is set to grow in opportunity. Technologies such as 3D printing, automation in manufacturing, and necessity of safety approvals, test and measurement equipment is playing a more important role at the designing stage.

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Additionally, growing sophistication in industries is also expected to create new opportunities. For example, the automotive industry is working towards the creation of intelligent vehicles, which can lower emissions as well as provide more benefits such self-driven cars. Additionally, consumer demand also necessitate the industry to provide more connected cars with digital entertainment and GPS solutions. These growing advancements and limited specialization in all technology are expected to drive robust growth for the test and measurement equipment market.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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