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Test And Measurement Equipment Market Forecast: What Market Value Is Expected By 2030?
The test and measurement equipment market has experienced consistent growth in recent times. This market is projected to expand from $34.81 billion in 2025 to $36.5 billion in 2026, exhibiting a compound annual growth rate (CAGR) of 4.9%. Historically, this growth has been driven by factors such as the expansion of electronics manufacturing, increased semiconductor production, the rising complexity of electronic devices, the need for quality assurance testing, and the growth in automotive electronics.
The test and measurement equipment market is anticipated to show robust expansion in the coming years. Its size is projected to reach $45.19 billion by 2030, driven by a compound annual growth rate (CAGR) of 5.5%. This growth throughout the forecast period stems from the proliferation of electric vehicle electronics, the expansion of 5G and future network generations, increasing investments in semiconductor fabrication, a rise in automation for industrial testing, and the demand for advanced aerospace testing solutions. Prominent trends expected during this period include the rising uptake of automated test systems, an increasing need for high-frequency and high-speed testing, greater deployment of portable and handheld instruments, an elevated focus on the precision and dependability of measurements, and the broadening of integrated hardware-software test platforms.
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Test And Measurement Equipment Market Expansion Supported By Key Demand Factors
The swift rollout of 5G networks is anticipated to significantly boost the expansion of the test and measurement equipment market. As the fifth generation of wireless technology for mobile communication, 5G operates on elevated frequency bands, necessitating specialized equipment to accurately measure and analyze signals within these ranges. These test and measurement tools play a vital role in guaranteeing the correct allocation and efficient use of the frequency spectrum. For example, in May 2023, Telefonaktiebolaget LM Ericsson, a Sweden-based information and communication technology company, reported that 5G network deployment was underway, involving approximately 240 networks worldwide, with an expected increase of about 85% by 2028. Additionally, data from April 2023, provided by 5G Americas, a US-based wireless industry trade organization representing 5G mobile networks and wireless technology in the Americas, indicated a 76% rise in 5G wireless connections, reaching 1.05 billion in 2022. This figure is forecasted to climb to 1.9 billion by the close of 2023 and further to 5.9 billion by 2027. Consequently, the widespread implementation of 5G is poised to fuel the growth within the test and measurement equipment market.
Test And Measurement Equipment Market Segment Breakdown: Which Categories Generate The Most Revenue?
The test and measurement equipment market covered in this report is segmented –
1) By Product: General Purpose Test Equipment (GPTE), Mechanical Test Equipment (MTE)
2) By Service Type: Calibration Services, Repair Services Or After-Sales Services
3) By Vertical: Automotive And Transportation, Aerospace And Defense, Information Technology (IT) And Telecommunication, Education And Government, Industrial, Healthcare, Semiconductor And Electronics
Subsegments:
1) By General Purpose Test Equipment (GPTE): Multimeters, Oscilloscopes, Signal Generators, Function Generators, Power Analyzers, Spectrum Analyzers, Network Analyzers
2) By Mechanical Test Equipment (MTE): Universal Testing Machines, Hardness Testers, Fatigue Testers, Impact Testers, Materials Testing Systems, Torque Testers
Test And Measurement Equipment Market Trends: What Is Shaping Future Industry Growth?
Leading companies within the test and measurement equipment market are concentrating on developing advanced products, such as particle measuring equipment, to satisfy the increasing requirements for precision and accuracy across various industries. Particle measuring equipment is utilized to detect and quantify the concentration and size of particles found in air, liquids, or gases. For instance, in June 2024, Advantest Corporation, a Japan-based manufacturer of automatic test and measurement equipment, released WEL2100. This particle measuring equipment is engineered for high-precision measurement of fine particles, specifically lipid nanoparticles (LNP) used in drug delivery systems, in addition to viruses and exosomes. The WEL2100 utilizes a precise nanopore sensor, developed through semiconductor manufacturing processes and microcurrent measurement technology. This technology facilitates the high-speed and accurate measurement of individual particles’ quantity, size, and zeta potential.
Test And Measurement Equipment Market Key Players And Strategic Industry Positioning
Major companies operating in the test and measurement equipment market are AMETEK Inc., Fortive Corporation, Tektronix Inc., Teledyne Technologies Incorporated, Keysight Technologies Inc., Advantest Corporation, Rohde & Schwarz GmbH & Co. KG, Yokogawa Electric Corporation, Bruker Corporation, National Instruments Corporation, Fluke Corporation, Viavi Solutions Inc., EXFO America Inc., Anritsu Corporation, AEM Holdings Ltd., Chroma Systems Solutions, RIGOL Technologies, OWON Technology Inc., Scientech Technologies Pvt. Ltd., GW Instek, B&K Precision Corporation, Tegam Inc.
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Test And Measurement Equipment Market Regional Distribution: Which Areas Drive Market Expansion?
Asia-Pacific was the largest region in the test and measurement equipment market in 2025. Asia-Pacific is expected to be the fastest-growing region in the test and measurement equipment market report during the forecast period. The regions covered in the test and measurement equipment market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.