India Test and Measurement Equipment Market to Register a CAGR of 4.33% During the Forecast Period
High adoption of
technological innovations and rising use of 5G Technology in gadgets to
drive the India Test and Measurement Equipment Market in the forecast period
According to
TechSci Research report, “India Test and Measurement Equipment Market
- By Region, Competition Forecast & Opportunities, 2018- 2028”. The
India Test and Measurement Equipment Market stood at USD 390.77 million in 2022
and is expected to register a CAGR of 4.33% during the forecast period. The
test and measurement equipment sector is expected to grow significantly because
of the growing demand for Adoption of IoT and ML in Testing Devices, 5G Wave
Technologies in Gadgets.
Rapid industrialization, which has been supported
by robust expansion in the electronics sector, is one of the primary factors
driving positive market growth. Test and measurement equipment are used during
production to look for problems in high-performance and power-efficient
consumer gadgets and semiconductors. As a result, the increased use of test and
measurement equipment for routine testing and discovering defects in
aeroplanes, helicopters, and other machinery is boosting market growth even
further.
They are also used in the automotive and
transportation industries for machine control, factory automation, and the
installation of remote sensor connections. Several technological breakthroughs,
such as the development of machine-to-machine (M2M) interaction systems and the
incorporation of linked devices into the Internet of Things (IoT), are also
encouraging growth of the market.
Browse over 26 market data Figures spread through
94 Pages and an in-depth TOC on the "India Test and
Measurement Equipment Market”
Based on
product type, the general-purpose test equipment is the leading segment in the India
Test and Measurement Equipment Market with a market share of 61.86% in 2022
& and is expected to register a CAGR of 5.06% between 2023-2028, followed
by Mechanical Test Equipment with a market share of 38.14% in 2022. Data
centers require a large amount of test and measurement equipment to check
signal strength, calibration services, data transmission conditions, and the
health of the various complex electronic devices used there. As a result, the
general-purpose test equipment segment is expected to grow in the forecast
period.
In terms of
regional analysis, the India Test and Measurement Equipment Market is segmented
into North, South, East, and West. The South region held the greatest market
share with 33.74% in 2022. Due to its status as India's IT powerhouse, the
South is now dominating the country’s market. The government also hopes that
the economy will bring in USD25 billion by 2025, including USD5 billion in
exports from the aerospace and defense sectors is crucial from a strategic
standpoint for the Indian government since it has one of the most powerful
militaries in the world. The market is predicted to grow much more over the
forecast period because of the importance of testing methods in the production
of tools and equipment. Participants in the market pay close attention to
equipment testing. The Konkurs Missile Test Equipment and Konkurs Launcher Test
Equipment were introduced by a local manufacturer, Bharat Dynamics Limited
(BDL), and as a result, the market is predicted to grow throughout the
projection period. The major market players have focused on test equipment
as a result of the requirement that all electronic devices and goods pass an
authentication test before being placed into the market, which has resulted in
expenditures in the sector that are geared toward market expansion. For
instance, VIAVI Solutions India Pvt Ltd released a new fiber test and
measurement solution in March 2021, enhancing the business's most comprehensive
fiber-optic testing offering.
Key market
players in the India Test and Measurement Equipment Market include:
- Keysight
Technologies India Private Limited
- Rohde &
Schwarz India Private Limited
- Ni Systems
(India) Private Limited
- Yokogawa
India Limited
- Anritsu India
Private Limited
- Fortive India
Private Limited
- Viavi
Solutions India Private Limited
- Advantest
India Private Limited
- Texas
Instruments (India) Private Limited
- EXFO
Electro-Optical Engineering India Private Limited
- Endress +
Hauser (India) Private Limited.
Download Free Sample Report
Customers can
also request for 10% free customization on this report.
“The development of increasingly sophisticated
technologies and measures to lower test and TTM (Test Traffic Measurement)
costs are predicted to be the main drivers of the expansion of robots across
industries, expanding the potential market for modular instrumentation.
Furthermore, characteristics of such equipment, such as measurement speed,
flexibility, and other attributes, are driving demand for modular
instrumentation over conventional equipment. Beyond traditional services like
calibration, repair, renting, and leasing, big data analytics solutions and
services may significantly benefit businesses across all industries to improve
departmental operations and competitiveness by enabling them to improve
product/service quality and decrease TTM. Test data is a gold mine for
innovations that has mostly gone untapped. By streamlining the
manufacturing and development processes, it may help reduce waste and boost
productivity. Many businesses are aware of the potential benefits of employing
test data, and some have set up internal processes to facilitate this. Since
every gadget must be tested and measured before being sold, this element is
fostering market expansion.,” Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting organization.
“India
Test and Measurement Equipment Market, By Product Type (General Purpose
Test Equipment and Mechanical Test Equipment), By Service Type (Repair
Services/After Sales Services and Calibration Services), By Type(Non Destructive
Testing and Destructive), By End User (Automotive and Transportation, Aerospace
and Defense, IT and Telecommunications, Semiconductor and Electronics, Industrial, Healthcare, Education), By
Instrumentation Type (Data Acquisition, Active Probes, Scales & Weight,
Laser Distance Measurement, Field Instrumentation, Lab Instrumentation and
Spectroscopy), By Region, Competition Forecast
& Opportunities, 2018-2028,” has
evaluated the future growth potential of India Test and Measurement Equipment
Market and provides statistics and information on market structure, size,
share, and future growth. The report is intended to provide cutting-edge market
intelligence and help decision-makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the India Test and
Measurement Equipment Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656