Test and Measurement Equipment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. Segmented By Type (Product, Services), By Product Type (General-purpose Test Equipment, Mechanical Test Equipment), By Service Type (Calibration Services, Repair/After Sales Services), By Application (Automotive, Aerospace and Defense, IT and Telecommunication, Industrial, Healthcare, Semiconductor and Electronics, Education and Government, Manufacturing, Others), By Region, By Company and By Geography, Forecast & Opportunities, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 52.74 Billion
CAGR (2026-2031)	5.86%
Fastest Growing Segment	Services
Largest Market	Asia Pacific
Market Size (2031)	USD 74.22 Billion

Market Overview

The Global Test and Measurement Equipment Market will grow from USD 52.74 Billion in 2025 to USD 74.22 Billion by 2031 at a 5.86% CAGR. Test and measurement equipment encompasses instruments designed to validate the performance, accuracy, and reliability of electronic and mechanical systems across diverse industries. The market is primarily driven by the increasing complexity of semiconductor architectures, the global rollout of 5G networks, and the rapid electrification of the automotive sector. These technological shifts mandate rigorous testing standards to ensure functionality in critical applications. According to SEMI, in 2024, sales of semiconductor test equipment were projected to rise 13.8% to $7.1 billion, reflecting strong demand for high-bandwidth memory and artificial intelligence applications.

However, the market faces a significant challenge regarding the high capital expenditure required for advanced testing units. The substantial acquisition costs, combined with expenses for regular calibration and maintenance, pose a financial hurdle for smaller enterprises and constrain budgets during periods of economic uncertainty. This financial barrier can delay the modernization of production lines and impede the adoption of newer testing methodologies essential for next-generation devices.

Key Market Drivers

The global deployment of 5G networks and the subsequent transition to 6G standards function as primary catalysts for the test and measurement sector, necessitating instruments capable of validating higher frequency bands and complex signal modulation. As telecommunications operators upgrade infrastructure to support massive machine-type communications and ultra-reliable low-latency services, the requirement for precision tools to ensure network density and signal integrity intensifies. According to GSMA, February 2024, in the 'The Mobile Economy 2024' report, mobile operators are projected to invest $1.5 trillion in their networks between 2023 and 2030, with 92% of this capital expenditure directed specifically towards 5G. This substantial investment in infrastructure compels equipment providers to develop solutions that address the rigorous interoperability and compliance testing required for these next-generation connectivity standards.

Simultaneously, the rapid expansion of electric vehicle manufacturing and battery testing systems drives significant demand for specialized high-power testing interfaces. Manufacturers must rigorously validate battery management systems, inverters, and charging protocols to meet safety regulations and consumer performance expectations. According to the International Energy Agency, April 2024, in the 'Global EV Outlook 2024', electric car sales reached nearly 14 million in 2023, marking a 35% increase compared to the previous year. This volume growth mandates the integration of automated test equipment to maintain throughput without compromising quality. Reflecting the scale of activity in these technology-driven sectors, according to Keysight Technologies, May 2024, in the 'Second Quarter Fiscal Year 2024 Financial Results', the company reported revenue of $1.22 billion, underscoring the critical reliance industry leaders place on electronic design and test solutions.

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Key Market Challenges

The high capital expenditure required for advanced testing units serves as a substantial impediment to the growth of the Global Test and Measurement Equipment Market. As electronic and mechanical systems increase in complexity, the cost to acquire high-performance instruments capable of validating these next-generation technologies rises proportionately. This steep financial entry barrier disproportionately affects small and medium-sized enterprises, which often lack the liquidity to invest in state-of-the-art solutions. Consequently, these smaller players are frequently forced to extend the lifecycle of obsolete equipment, delaying the modernization of production lines and creating a technological gap that stifles broader market adoption of advanced testing methodologies.

Furthermore, the financial burden extends beyond initial acquisition to include significant operational expenses such as regular calibration and specialized maintenance, which tightens budgets during periods of economic instability. When manufacturers face rising operational expenditures, capital allocation for new test equipment is often the first area cut to preserve margins. According to the IPC (Association Connecting Electronics Industries), in October 2024, 50% of global electronics manufacturers reported experiencing rising labor costs while simultaneously facing declining profit margins. This challenging cost environment directly limits the purchasing power of key end-users, compelling them to defer investments in new test and measurement infrastructure essential for maintaining industry standards.

Key Market Trends

The Integration of Artificial Intelligence and Machine Learning for Real-Time Analytics is fundamentally reshaping the market by enabling predictive capabilities that go beyond traditional pass/fail validation. As device complexity increases, operators are leveraging algorithms to analyze vast datasets for anomaly detection, optimizing test throughput and reducing the cost of quality. This trend is particularly evident in manufacturing environments where AI-driven insights identify potential defects earlier in the production cycle, significantly enhancing operational efficiency. According to Rockwell Automation, April 2024, in the '9th Annual State of Smart Manufacturing Report', quality control now ranks as the leading use case for artificial intelligence, with 83% of manufacturers expecting to integrate generative AI into their operations in 2024.

Simultaneously, the Transition Toward Software-Defined and Cloud-Enabled Instrumentation is reducing the reliance on fixed-function hardware, allowing users to reconfigure testing systems through software updates and remote management. This architectural shift supports the demand for flexibility and continuous delivery in design workflows, facilitating the rapid deployment of new test protocols for evolving standards without requiring immediate hardware replacement. Major industry players are monetizing this transition by increasing the contribution of recurring revenue streams tied to software platforms and digital services. According to Keysight Technologies, November 2024, in the 'Fourth Quarter Fiscal Year 2024 Financial Results', the company reported that its recurring software and services revenue grew to represent 30% of total revenue, underscoring the growing strategic value of non-hardware solutions.

Segmental Insights

The Services segment is identified as the fastest-growing category within the Global Test and Measurement Equipment Market due to the rising demand for calibration and after-sales support. This growth is driven by the strict requirement for equipment accuracy and adherence to international quality standards such as ISO 17025. Organizations are increasingly outsourcing maintenance and repair tasks to specialized providers to ensure operational efficiency and extend the lifecycle of complex testing devices. Furthermore, the shift toward asset management solutions helps companies optimize resource allocation, thereby fueling the sustained expansion of the services sector.

Regional Insights

Asia Pacific dominates the global test and measurement equipment market due to its established status as a central hub for semiconductor and consumer electronics manufacturing. Countries such as China, Japan, and South Korea drive substantial demand for precision instruments to ensure quality control in mass production environments. The rapid expansion of 5G infrastructure and electric vehicle sectors further necessitates rigorous signal analysis and safety testing. Manufacturers in the region heavily invest in these tools to comply with strict international performance standards, thereby sustaining the region's market leadership.

Recent Developments

• In November 2024, Tektronix announced the launch of the TICP Series IsoVu, a lineup of isolated current probes featuring industry-first radio frequency isolation technology. These probes were engineered to deliver high-precision measurements of fast-changing currents in both low- and high-voltage environments, addressing the safety and accuracy challenges in power electronics testing. The company also introduced a new bidirectional DC power supply series with high energy recovery efficiency. These innovations were targeted at engineers working on electric vehicles, renewable energy systems, and efficient power design applications, cementing the company's position in the high-power test market.
• In September 2024, Viavi Solutions introduced the ONE-1600, a new high-speed Ethernet testing module designed to support the emerging 1.6 terabits per second ecosystem. This solution, part of the ONE LabPro platform, was developed to address the critical validation needs of AI and machine learning workloads which demand unprecedented bandwidth and scale. The module incorporated 224G SERDES technology to enable rigorous testing of next-generation optical transceivers and network equipment. By providing high-density test ports, the company aimed to help manufacturers ensure the reliability and performance of high-speed data center infrastructure essential for advanced computing applications.
• In April 2024, Anritsu Corporation introduced a specialized protocol test solution for Non-Terrestrial Network (NTN) devices designed for Geostationary Earth Orbit (GEO) satellites. This new functionality extended the capabilities of the company's signaling tester to support NTN Narrowband IoT standards defined in 3GPP Release 17. The solution addressed the specific testing requirements of satellite communications, such as simulating the significant time delays inherent in data transmission over distances of approximately 36,000 kilometers. By enabling reliable verification of communication protocols in a lab environment, the launch aimed to support the growing market for satellite-based connectivity and ensure device performance.
• In February 2024, Keysight Technologies demonstrated a 6G neural receiver design flow in collaboration with NVIDIA at the Mobile World Congress. The partnership involved integrating the company's electronic design automation software with NVIDIA’s 6G Research Cloud platform to accelerate the development of AI-enhanced wireless communications. This collaboration enabled researchers to validate new AI-driven neural receiver designs under realistic network channel conditions, significantly reducing the time required for training and verifying neural networks. The joint effort aimed to overcome the challenges of creating robust 6G systems by leveraging data-centric workflows and advanced GPU-accelerated simulations for next-generation telecommunications.

Key Market Players

• Fortive
• Keysight Technologies
• National Instruments
• Rohde & Schwarz
• ABB
• Testo
• Yokogawa Electric
• Fluke
• Tektronix
• Extech Instruments

By Type	By Product Type	By Service Type	By Application	By Region
Product Services	General-purpose Test Equipment Mechanical Test Equipment	Calibration Services Repair/After Sales Services	Automotive Aerospace and Defense IT and Telecommunication Industrial Healthcare Semiconductor and Electronics Education and Government Manufacturing Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Test and Measurement Equipment Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Test and Measurement Equipment Market, By Type:

• Product
• Services

• Test and Measurement Equipment Market, By Product Type:

• General-purpose Test Equipment
• Mechanical Test Equipment

• Test and Measurement Equipment Market, By Service Type:

• Calibration Services
• Repair/After Sales Services

• Test and Measurement Equipment Market, By Application:

• Automotive
• Aerospace and Defense
• IT and Telecommunication
• Industrial
• Healthcare
• Semiconductor and Electronics
• Education and Government
• Manufacturing
• Others

• Test and Measurement Equipment Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE