RF Test Equipment Market Size, Share, Growth, Trends and Forecast 2023

Posted 2 years ago in BUSINESS.

The RF Test Equipment Market was valued at USD 2.32 Billion in 2016 and is expected to reach USD 3.21 Billion by 2023, at a CAGR of 4.92%.

RF Test Equipment Market Size, Share, Growth, Trends and Forecast 2023

With a CAGR of 4.92 % to 2023, the RF Test Equipment Market is anticipated to grow from USD 2.41 billion in 2017 to USD 3.21 billion by 2023.

Modular RF Test Equipment to grow at the highest rate during the forecast period

The forecast period is expected to have the greatest CAGR on the market for modular RF test equipment. This is explained by features like its high-precision performance and capacity for real-time management and analysis of massive datasets. Additionally, modular devices have the capacity to organise and instantly evaluate big datasets. One of the main factors contributing to its quicker growth is the fact that OEMs were able to provide cost-effective equipment and high-performing modular system components thanks to National Instruments' (US) introduction of the PXI (PCI extensions for instrumentation) standard as an extension of Compact PCI.

RF Test Equipment with a frequency range of 1 GHz to 6 GHz hold the largest share during the forecast period

Many pieces of RF equipment use the 2.4 GHz frequency and adhere to the IEEE802.11b/g/n wireless standards. Wi-Fi technology-based RF equipment that complies with IEEE802.11a wireless standards and operates in the frequency range of 5 GHz to 6 GHz is in great demand as a result of the increased demand for seamless connectivity at faster data rates. Therefore, the majority of industrial IoT-related applications employ RF test equipment with a frequency range of 1 GHz to 6 GHz. The market for RF test equipment with a frequency range of 1 GHz to 6 GHz is expanding as a result of these considerations.

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RF Test Equipment in APAC to grow at the highest rate during the forecast period

From 2017 to 2023, the RF Test Equipment market is anticipated to develop at the quickest rate in APAC. APAC is home to many OEMs as well as producers of semiconductor products and devices. The rising popularity of smartphones and ongoing developments in 4G, 5G, and other next-generation telecommunications protocols are credited with driving up demand for RF test equipment. The reasons that heighten the interest of foreign firms in Asia Pacific are also advantageous regulatory rules for the approval of innovative semiconductor technology and the saturation of the market in developed countries.

The report profiles the most promising players in the RF Test Equipment. The competitive landscape of the market presents an interesting picture of the strategies adopted by a large number of players. The key players in this industry are Anritsu (Japan), Fortive (US), Keysight Technologies (US), National Instruments (US), and Rohde & Schwarz (Germany), Teradyne (US), Yokogawa Electric (Japan), Teledyne Technologies (US), Cobham (UK), EXFO (US), Giga-tronics (US), Chroma ATE (Taiwan), Good Will Instruments (Taiwan), and B&K Precision (US).

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