Upon thorough analysis and research, the following factors has been identified as the critical test and measurement market trends during the forecast period 2020-2024:
emergence of 5G networks
The global wireless test equipment market is expected to witness rapid growth during the forecast period. The evolution of the telecommunication industry will be the major driver for this segment. There have been significant changes in the telecommunication industry over the last few years. The increase in demand for smartphones is expected to create huge demand for test and measurement equipment. This wireless test and measurement equipment is used by mobile phone manufacturers to test their phones based on various technology formats, such as LTE, GSM, WiMAX, and GPRS. The huge demand for this equipment is expected to come from APAC due to the advances in technologies, increasing the manufacturing base and adoption of smartphones. India, China, and Japan will together contribute a major share to the mobile phones market during the forecast period.
In addition, the development of 5G technologies will create a great impact in developed regions like North America and Europe, which will drive the global test and measurement market. Also, there will be a shift from 3G to 4G technology in developing economies like India, China, Japan, Indonesia, and Vietnam during the forecast period. Many telecom providers are already providing 4G Internet offers to attract customers to their networks, while smartphone companies are trying to utilize this opportunity and sell more technologically advanced mobiles.
