SAN FRANCISCO, Jan. 4, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Wireless Test Equipment - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 17; Released: December 2021
Executive Pool: 1483
Companies: 93 - Players covered include Anritsu Corp.; AWT Global, LLC; Cobham AvComm; Cobham Wireless; DEKRA Testing and Certification, S.A.U.; Hermon Laboratories TI Ltd.; Keysight Technologies Inc.; LitePoint Corp.; Rohde & Schwarz GMBH & Co. KG; Spirent Communications Plc; Teradyne Inc.; Viavi Solutions Inc. and Others.
Coverage: All major geographies and key segments
Segments: Category (Wireless Infrastructure Test Equipment, Wireless Devices Test Equipment)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Wireless Test Equipment Market to Reach US$7.7 Billion by the Year 2026
Given its wide ranging benefits and importance in validating functioning and performance of wireless networks and devices, wireless test equipment has emerged as an indispensable tool for participants across mobile communications industry, right from infrastructure equipment and consumer mobile device manufacturers to mobile network operators. Advancements witnessed in the global wireless telecommunication sector are the key drivers of wireless testing equipment market growth. In addition, increase in mobile data consumer base is further stimulating the wireless test equipment demand. Furthermore, increase in mobile data offloading, as a result of growing mobile data users base adds to the demand growth of wireless testing equipment. The increase in HetNets and small cells demand is also propelling wireless test equipment demand growth. Growing demand for wireless systems is beginning to change the design requirements, necessitating manufacturers to hit the drawing board to design testing instruments engineered to meet demanding end-user requirements. For instance, with electronic gadgets shrinking in size and gaining in complexity, testing becomes a more complicated and more vital process for customers, presenting a major opportunity for testing manufacturers. The market is also gaining from increasing significant of big data for organizations and aggressive efforts to push next-generation wireless technologies like 5G. Latest advances in wireless technologies like Bluetooth, NFC and Wi-Fi are presenting new growth opportunities for market participants, while developments related to IoT and AI are opening new avenues for growth.
Amid the COVID-19 crisis, the global market for Wireless Test Equipment estimated at US$5.1 Billion in the year 2020, is projected to reach a revised size of US$7.7 Billion by 2026, growing at a CAGR of 6.9% over the analysis period. Wireless Infrastructure Test Equipment, one of the segments analyzed in the report, is projected to grow at a 8.4% CAGR to reach US$4.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Wireless Devices Test Equipment segment is readjusted to a revised 4.9% CAGR for the next 7-year period. This segment currently accounts for a 45.9% share of the global Wireless Test Equipment market. The wireless infrastructure test equipment market is projected to experience a robust growth rate in the coming years owing to rising demand from end-use industries and contribution from key segments. These solutions are witnessing increasing uptake in the aerospace and defense sector, and gaining from strong focus of mobile network operators on enhanced network capabilities.
The U.S. Market is Estimated at $1.5 Billion in 2021, While China is Forecast to Reach $1.5 Billion by 2026
The Wireless Test Equipment market in the U.S. is estimated at US$1.5 Billion in the year 2021. The country currently accounts for a 27.6% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.5 Billion in the year 2026 trailing a CAGR of 9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5% and 6.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.2% CAGR while Rest of European market (as defined in the study) will reach US$413.7 Million by the end of the analysis period. With market saturation limiting growth prospects in developed regions, developing countries are offering high growth potential for wireless test equipment market. Asia-Pacific is anticipated to present lucrative growth opportunities due to ongoing expansion of the telecommunication, IoT, cloud, and aerospace and defense sectors. Enormous growth in adoption of advanced smartphones, expanding coverage of 4G networks and impending launch of 5G network technology, and subsequent rise in number of people accessing data over mobile handsets, and establishment of new mobile phone manufacturing plants are also boosting market prospects for wireless test equipment in the region. More
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SOURCE Global Industry Analysts, Inc.