Test and Measurement Equipment Market

The report "Test and Measurement Equipment Market by Automated Test Equipment, Spectrum Analyzers, Oscilloscopes, BERT, Modular Instruments, NDT Equipment, Machine Vision Inspection Systems, and Machine Condition Monitoring System - Global Forecast to 2029" The US test and measurement equipment market is expected to reach USD 11.79 billion by 2029, up from USD 9.48 billion in 2024, at a CAGR of 4.4% from 2024 to 2029.

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/test-measurement-equipment-market-116452716.html

The US test and measurement equipment market is strengthened by its advanced technological infrastructure and strict regulatory framework. With an existing infrastructure that supports innovation, efficiency, and scalability, the US is the leader in producing state-of-the-art testing equipment. Regulatory bodies such as the FCC and NIST enforce strict standards of precision, performance, and safety, which enhances reliability and consumer trust. These factors, along with the presence of market leaders in the sector, drive the use of test and measurement equipment in major industries, further consolidating the leadership position of the US in the North American region.

The industrial vertical holds the largest market share of test and measurement equipment in the US

The industrial vertical of the US test and measurement equipment market holds the largest market share due to the precise test solutions for operational efficiency, quality assurance, and regulatory compliance. The manufacturing, energy, process automation, and heavy machinery industries use advanced measurement instruments for efficient production, minimized downtime, and high safety measures. Growing application of smart manufacturing and Industry 4.0 principles, also speed up the demand for test and measurement solutions supporting predictive maintenance, automation, and real-time monitoring. In addition, stringent government regulations and industry-specific standards impose the demand for continuous testing and verification of components, systems, and processes to ensure safety, reliability, and performance standards. The integration of new sensors, robots, and industrial IoT (IIoT) necessitates the use of sophisticated test tools to analyze data accuracy, system interoperability, and effectiveness.

GPTE (general purpose test equipment) is expected to grow at the highest CAGR in the US market during the forecast period

General Purpose Test Equipment (GPTE) is expected to grow at the highest CAGR in the US market because of its adaptability for various testing applications, facilitating research, product development, and quality control. With a growing focus on automation and digitalization in the industry, the demand for flexible test solutions with multi-parameter handling capability rises. Increasing investment in infrastructure, such as 5G networks, smart grids, and autonomous systems, continues to increase demand for compliance and performance assurance testing tools. Also, the expansion of laboratories, field test applications, and high safety and operating standards necessitate the usage of test and measurement equipment in the workflow. Multiple companies are continuously involved in the expansion and development of GPTE product portfolio. For instance, in September 2024 Keysight Technologies launched InfiniiVision HD3 series an advanced 14-bit precision oscilloscope for general applications, which can deliver four times the signal resolution and half the noise floor of other general-purpose oscilloscopes.

Integration of AI and Machine Learning in Test and Measurement Equipment Driving Market Growth

The convergence of artificial intelligence (AI) and machine learning (ML) in test and measurement instruments is highly boosting market demand, as these technologies revolutionize data analysis, testing procedures, and equipment maintenance processes. Al and ML facilitate faster and more accurate data analysis, enabling quick and more accurate evaluation of large datasets. Their advanced computational capabilities recognize subtle differences that traditional methods can overlook, leading to more informed decision-making and improved operational outcomes.

Predictive maintenance based on Al and ML primarily reduces downtime by recognizing potential equipment failure before it occurs, boosting efficiency, and minimizing maintenance-caused disruptions. Further, Al-based test automation shortens testing cycles, reduces errors, and enhances productivity. The demand for sophisticated test and measurement equipment with Al capability continuously increasing with industries becoming more dependent on high-performance and time-saving testing solutions.

Key Players

The companies of test and measurement equipment market include Keysight Technologies (US), Fortive (US), AMETEK, Inc. (US), Rohde & Schwarz (Germany), NATIONAL INSTRUMENTS CORP. (US), Teledyne Technologies (US), VIAVI Solutions Inc. (US), Anritsu (Japan), Yokogawa Electric Corporation (Japan), and Advantest Corporation (Japan) among others.

Don’t miss out on business opportunities in Test and Measurement Equipment Market. Speak to our analyst and gain crucial industry insighs that will help your businessgrow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103
Delray Beach, FL 33445
USA : 1-888-600-6441
sales@marketsandmarkets.com