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”
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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.
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“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.
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