Growing Use of Advanced Medical Equipment and Improved Wireless Network Infrastructure Drives Growth

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DUBLIN, Dec 3 2021 / PRNewswire / – The report “Global Test Equipment Market: Size, Trends and Forecasts with Impact Analysis of COVID-19 (2021-2025)” has been added to ResearchAndMarkets.com offer.

The report provides in-depth analysis of the global test equipment market by value, end-user, region, etc. The report provides regional analysis of the Testing Equipment Market including the following regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and central America. The report also provides a detailed analysis of the impact of COVID-19 on the test equipment market.

The report also assesses the key opportunities in the market and describes the factors which are and will be driving the growth of the industry. The growth of the global test equipment market has also been forecast for the period 2021-2025, taking into account the previous growth patterns, growth drivers and current and future trends.

The global test equipment market is fragmented with many major market players operating across the globe. Test equipment manufacturers manufacture different types of products to meet the needs of various industries. The major players in the global test equipment market are Keysight Technologies Inc., Teradyne Inc., Advantest Corporation and Cohu Inc. (LTX-Credence) are also presented along with their respective financial information and business strategies.

The test equipment market can be segmented on the basis of end user (consumer electronics, automotive, healthcare, telecommunications, energy and utilities, and others).

While most industries around the world have been negatively impacted by COVID-19, the global testing equipment market has seen a mixed impact on it. Initially, the market saw a drop in the supply and shipment of test equipment, however, the demand for test equipment was more or less the same during the pandemic. Later in the year, the supply almost matched the demand.

The global test equipment market has grown in the years 2019-2020 and projections are made that the market will increase in the next four years i.e. 2021-2025.

The global test equipment market is predicted to rise owing to the increased demand for consumer electronics devices, the growing penetration of smart connected devices, the rise of the automotive industry, the growing use of test equipment in the industrial sector and supporting government initiatives, but the market faces some challenges such as economic downturn, high cost associated with test equipment, increasing complexity of devices, etc.

Main topics covered:

Global Market Analysis

Regional market analysis

Impact of COVID-19 on the Global Testing Equipment Market

Market dynamics

Growth drivers

  • Increased demand for consumer electronics
  • Growing penetration of smart connected devices
  • Rise of the automotive industry
  • Growing use of test equipment in the industrial sector
  • Government support initiatives

Challenges

  • Economic downturn
  • High cost associated
  • Growing complexity of devices

Market trends

  • Improved wireless network infrastructure
  • Growing penetration of AI applications
  • Growing use of advanced medical equipment
  • Growing awareness of reducing carbon emissions

Competitive landscape

  • Global Testing Equipment Market Players: A Financial Comparison

Company Profiles

  • Advantest Company
  • Cohu Inc. (LTX-Credit)
  • Keysight Technologies Inc.
  • Teradyne Inc

For more information on this report, visit https://www.researchandmarkets.com/r/ou9m57

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