RF Test Equipment Market Estimation, Dynamics, Trends, Competitor Analysis and Forecast 2027
The RF Test Equipment Market is projected to reach USD 4.6 billion by 2027 from USD 3.5 billion in 2022, at a CAGR of 6.1% from 2022 to 2027.
Surging adoption of wireless systems in residential and commercial buildings, rising number of smartphone subscriptions, increasing use of 5G-compatible devices, and growing number of IoT-connected devices are some of the major factors driving the market growth.
Increasing use of 5G-compatible devices
5G is the fifth-generation technology standard for broadband cellular networks. In recent years, there has been a significant rise in demand for 5G-compatible devices all over the world, and several sectors, such as manufacturing and telecommunications, are increasingly deploying 5G technology in cellular devices. There has been a surge in demand for RF test equipment in research and development laboratories for designing and testing 5G network-based devices.
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Surging adoption of RF testing instruments in automotive applications
Automotive radar systems and wireless communication systems have moved to high-frequency bands. Moreover, with technological advances, the requirements of end users are likely to change remarkably in terms of frequencies, phase noise performance, and modulation bandwidth. The market players are extensively focused on developing advanced RF testing solutions to meet these requirements.
Asia Pacific accounted for the largest share of the RF test equipment market in 2021. The region is also expected to register the highest CAGR during the forecast period. The presence of established connectivity solution providers, such as Huawei (China), MediaTek (Taiwan), and Renesas (Japan) in the region and the constantly growing smartphone subscriptions in the region are some of the key factors driving the market growth in Asia Pacific. Additionally, China, being a global manufacturing hub for consumer electronic products, provides ample growth opportunities for market players offering RF test equipment.
Key Players:
The key market players in the RF Test Equipment Market include Keysight Technologies, Inc. (US), Anritsu Group (Japan), Rohde & Schwarz (Germany), Tektronix, Inc. (US), Teledyne Technologies Incorporated (US).
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Keysight Technologies become an independent publically traded company after a spun-off from Agilent Technologies (US). Keysight’s separation from Agilent occurred on November 1, 2014. The company made 2 key acquisitions, namely, Anite (UK) and Electroservices Enterprises Limited (UK) to support its growth initiatives. The company’s key strategies are product launches and developments by introducing new customer solutions and expanding its leadership position in electronic design and test. On June 2017, the company launched M9383A PXIe, an analog and vector signal generator with a frequency coverage up to 44 GHz and modulation bandwidth up to 1 GHz. The company launched this product to target the market for 5G and aerospace and defense communication applications.
Fortive was founded as an independent publically traded entity in 2016 after the separation from Danaher (US). Fortive is in the RF test and measurement business under the two major entities: Tektronix and Fluke. Tektronix primarily manufactures oscilloscopes, analyzers, signal generators, sources and supplies, meters, video test equipment, Keithley switching and data acquisition systems, Keithley semiconductor test systems, components and accessories, software, and Keithley products. Tektronix offers spectrum analyzers under its Analyzers segment. Tektronix offers solutions for applications such as analog/digital design and debug, wireless and RF, spectrum management and interference hunting, and radar and electronic warfare. The company has major focuses on product developments for RF testing. For instance, in April 2017, Tektronix launched TTR500, a series of vector network analyzers, to expand its USB-based RF test instruments portfolio. This launch is likely to help the company to tap the market for end users in the “IoT design” segment.
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