As the world becomes ever more reliant on connectivity, the demand for new testing and measurement (T&M) instruments will soon reach new heights, Frost & Sullivan predicts.
In its recent analysis ‘IoT and Hi-speed Communication Powering the Global Electronic Test and Measurement Market, 2020‘, the global market think tanks forecasts that the 5G and IoT market will reach $18.94 billion by 2025.
With its roots from the internet, IoT describes a network computer, microelectronics, and other communications and information technology with the ability to transfer data over the cloud.
Frost & Sullivan predicts that the use of connected electronic devices — irrespective of vertical — will grow, ushering in the demand for electronic test and measurement equipment.
The analysis, which is part of Frost & Sullivan’s global Measurement and Instrumentation Growth Partnership Service program, describes T&M instruments as tools used to “capture, process, display data, signals, electronic parameters.”
Market participants have continued to invest in the development and manufacturing of testing applications despite the unprecedented economic shock of the coronavirus pandemic.
Thanks to the overwhelming digital demand, the 5G and IoT market weathered through COVID-19 with only a 0.7% decline.
“Electronic test and measurement (T&M) instruments find significant utilization in research, product development, prototyping, manufacturing, and field testing application,” said Industry Analyst Prabhu Karunakaran.
Given the sheer size of its market, semiconductor automatic test equipment (ATE) will likely contribute the most in total revenue. With continuous R&D investment support in communication and 5G,65 verticals, radio frequency (RF) test equipment (RF) closely follows.
Though not yet a leading market, the automotive end-user vertical should emerge as a significant contributor later on. Karunakaran stated that “aggressive progress of autonomous project” will spike demands and promote growth opportunities.
The research firm advised electronic T&M vendors to explore the following growth areas: 5G, autonomous driving, power applications, edge IoT, and next-gen data centers.
Frost & Sullivan is a world-renowned researching and consulting firm. With over six decades of professional experience, the firm has played an essential role in helping investors, corporate leaders and governments keep up with business, economy, and technology.
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