Emerging Trends in the RF Test Equipment Market: A Look Ahead
The RF Test Equipment Market is expected to grow from USD 3.5 billion in 2022 to USD 4.6 billion by 2027, at a CAGR of 6.1% over the course of the forecast period, according to the report "RF Test Equipment Market by Type, Frequency Range, Form Factor, End-use Application, and Region - Global Forecast to 2027." The growth is attributed to the expanding use of 5G-compatible devices, rising numbers of IoT-connected devices, and expanding adoption of wireless systems in residential and commercial buildings.
According to type (oscilloscopes, spectrum analyzers, signal generators, and network analyzers), frequency range (more than 6 GHz, 1 to 6 GHz, less than 1 GHz), form factor, end-use application, and geography, the RF test equipment market is divided into different categories. North America, Europe, Asia Pacific, and the Rest of the World are the principal geographic areas addressed in the report.
The key players profiled in the report include Keysight Technologies, Inc. (US), Anritsu Group (Japan), Rohde & Schwarz (Germany), Tektronix, Inc. (US), Teledyne Technologies Incorporated (US), Berkeley Nucleonics Corporation (US), AnaPico (Switzerland), B&K Precision Corporation (US), National Instruments Corporation (US), Boonton Electronics (US), Tabor Electronics Ltd. (Israel).
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Driver: Increasing use of 5G-compatible devices
Worldwide adoption of 5G technology in cellular devices is increasing as more industries integrate the technology in their products. Because of this trend, there is now more need for RF test equipment, which is utilised in research and development labs to create and test 5G network-based devices. Rapid advancements in 5G technology, rising demand for mobile data services, industry adoption of machine-to-machine (M2M) communication technology, and the need for better network coverage are all predicted to contribute to the growth of the RF test equipment market.
Oscilloscopes to account for the largest share of the RF test equipment market during forecast period
Oscilloscopes are anticipated to hold the biggest market share for RF test equipment over the projection period, primarily as a result of the expanding adoption of high bandwidth modular equipment and the accessibility of a better user interface. Market players in this industry should benefit from growth prospects as a result of the adoption of network-based gadgets for speedier communication as well as the rollout of wireless networks and 5G. With the increased use of modular instruments like oscilloscopes, waveform generators, digital multimeters, power supplies, and switches, the market for modular oscilloscopes has also seen significant expansion in recent years.
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RF test equipment with a frequency range of more than 6 GHz to register highest CAGR during forecast period
Due to the rising use of 5G technology-based devices, the market for RF test equipment is experiencing a surge in demand, providing chances for industry participants to introduce cutting-edge products suitable for diverse applications. The largest compound annual growth rate is anticipated for RF test equipment with a frequency range greater than 6 GHz over the projection period (CAGR). Providers of RF test equipment, especially those with equipment with a frequency range of more than 6 GHz, are likely to see significant opportunities as a result of the growing adoption of 5G technology in applications like connected cars and mobile services as well as the rise in 5G mobile subscriptions.
Asia Pacific to register the highest growth in the RF test equipment market during the forecast period
Due to the presence of reputable connectivity solution providers like Huawei (China) and Renesas (Japan) there, Asia Pacific is anticipated to experience the largest growth in the RF test equipment market during the forecast period. Another important reason for the region's leadership in the RF test equipment market is the steadily increasing number of smartphone subscriptions in the area. Likewise, the region's suppliers of RF test equipment are benefiting financially from China's role as a worldwide manufacturing powerhouse for consumer electronics.
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