Future Growth Potential of Software Testing Solutions Due to Presence of 5G Across Infrastructure
The global electronic T&M market is estimated to experience an approximate 4.2% compound annual growth rate (CAGR) from 2020 to 2027.
Some of the key market trends prevailing in the electronic T&M market include:
- The communications and defense sectors provide growth opportunities for software test solutions with focus on big data analysis.
- The need for software test solutions is gaining traction in research & development applications for faster verification analysis.
- China has recovered faster than other nations across the globe leading to higher growth in the APAC region.
- The GP test software segment is expected to continue to dominate the market with 88.8% of the total market share in 2020.
- USB-based general purpose instruments are important for verification and quick analysis with plug-and-play option. For example, faster analysis is being offered with the latest USB 3.0 that provides data rates up to 280 megabits per second.
- The global electronic T&M market generated $2,300 million in 2020, with a base year growth rate of (4.0%). The market is expected to grow once the impact of COVID-19 eases out in 2021 and beyond.
Research Highlights
- In-depth analysis with market sizing of product segments, which are General Purpose (GP) Test Software (Oscilloscopes, Digital Multimeters, Signal Generators, Spectrum Analyzers, Network Analyzers, Power Meters, Logic Analyzers, Electronic Counters, One-box testers, Bit Error Rate Testers (BERT), Protocol Analyzers), and Data Acquisition (DAQ) Software (PCI, PXI, USB, Ethernet, VXI, Proprietary standard DAQ equipment).
- Regional perspective of the demand pattern in various advanced and emerging markets, namely North America, Europe, Middle East and Africa, Asia-Pacific, and Rest of World.
- End-user analysis of Semiconductor, Automotive & Transportation (A&T), Aerospace/Defense (A&D), Academic, Electronics, Life Sciences, Energy, and Other (Process Manufacturing, Chemicals & Materials, Food & Beverages) industries.
- Segment market growth is forecasted and an in-depth analysis of the competitive situation including vendors' market shares is included.
Key Features
The objective of this study is to identify the key trends prevailing in the market in the base year 2020, and the factors that boost and restrain market growth. It also discusses the product areas that bolster growth for the forecast period 2021 to 2027. With 2020 as the base year, the research provides estimates of the market size and future growth prospects up to 2027. For this purpose, a specific methodology that includes discussion with senior management of electronic T&M manufacturers, supported by secondary research, is followed.
Key Issues Addressed
- Is the market growing, how long will it continue to grow, and at what rate?
- What is the impact of COVID-19 pandemic on the electronics test and measurement market?
- How does the demand vary by products, and will it be consistent for the next 7 years?
- Which of the end-user industry will generate the highest demand for electronic test equipment?
- Is the software offered today meeting customer needs or is additional development needed?
