General Purpose Test Equipment (GPTE) Market Size Expected to Grow by USD 1.95 Billion | Rising demand from end-user industries to drive growth

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NEW YORK, July 1, 2022 /PRNewswire/ — General Purpose Test Equipment (GPTE) includes various test and measurement devices such as oscilloscopes, spectrum analyzers, multimeters, arbitrary waveform generators, power meters, electronic meters and network analyzers. End users use this equipment to test their design prototypes or finished products.

Technavio has announced its latest market research report titled General Purpose Test Equipment (GPTE) Market by Product, End User, and Geography – Forecast and Analysis 2022-2026

General purpose test equipment (GPTE) market size is expected to increase by $1.95 billion from 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a CAGR of 5.58% during the forecast period.

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Market dynamics

The growing demand from end user industries is driving the growth of the market. GPTE regulates the movement of the whole machine. The implementation of automated machinery in industrial applications reduces the use of manually operated machinery. These machines also help to reduce labor expenditure in the industry. Heavy use of automatic machines requires continuous component testing, which is driving the demand for GPTE in end-user industries such as food and beverage, manufacturing, automotive, energy and utilities . GPTE is used in vehicles and vehicle manufacturing units. In the APAC region, the demand for passenger cars is expected to increase which will further boost the demand for GPTE over the forecast period.

The long GPTE replacement cycle, such as oscillators, spectrum analyzers, signal generators and network analyzers, challenges the growth of the market. Buyers prefer to upgrade components rather than change the whole system, which is less expensive compared to buying a new product. Buyers also have the option of going either to specialist service providers or to the seller of the GPTE for other maintenance and repair work. Thus, the long product replacement cycle prevents customers from switching suppliers or experimenting with new products, especially those offered by new players in the market.

Company Profiles

Some of the companies covered in this report are Agilent Technologies Inc., AMETEK Inc., Anritsu Corp., Aplab Ltd., Danaher Corp., Fortive Corp., Keysight Technologies Inc., Lauterbach GmbH, National Instruments Corp., Rohde and Schwarz. GmbH and Co. KG, Scientech Technologies Pvt. Ltd., Seaward Electronic Ltd., SGS SA, TEGAM Inc., Texas Instruments Inc., Thermo Fisher Scientific Inc., Viavi Solutions Inc., Yokogawa Electric Corp., Advantest Corp. and Teledyne Technologies Inc., etc.

Competitive analysis

The report includes Competitive Analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors to classify players into four categories. Some of these factors considered for analysis are financial performance over the past three years, growth strategies, innovation score, new product launches, investments, market share growth, etc

Market segmentation

  • By product, the market is categorized into oscilloscope, spectrum analyzer, signal generator, network analyzer and other products. The oscilloscope segment will contribute the largest market share.

  • By geography, the market is categorized into APAC, North America, Europe, South Americaand the Middle East and Africa. APAC will have the largest market share.

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General Purpose Test Equipment (GPTE) Market Scope

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 5.58%

Market Growth 2022-2026

$1.95 billion

Market structure

Fragmented

Annual growth (%)

4.75

Regional analysis

APAC, North America, Europe, South America, Middle East and Africa

Successful market contribution

APAC at 40%

Main consumer countries

United States, China, Japan, South Korea and Germany

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Agilent Technologies Inc., AMETEK Inc., Anritsu Corp., Aplab Ltd., Danaher Corp., Fortive Corp., Keysight Technologies Inc., Lauterbach GmbH, National Instruments Corp., Rohde and Schwarz GmbH and Co. KG, Scientech Technologies Pvt . Ltd., Seaward Electronic Ltd., SGS SA, TEGAM Inc., Texas Instruments Inc., Thermo Fisher Scientific Inc., Viavi Solutions Inc., Yokogawa Electric Corp., Advantest Corp. and Teledyne Technologies Inc.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Product

6 Market Segmentation by End User

7 Customer Landscape

8 Geographic landscape

9 drivers, challenges and trends

10 Supplier Landscape

11 Vendor Analysis

12 Appendix

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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Technavio Research
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Email: [email protected]
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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