“The global RF test equipment market is expected to register a CAGR of 4.92% between 2017 and 2023”
The RF test equipment market is expected to reach USD 3.21 billion by 2023 from USD 2.41 billion in 2017, at a CAGR of 4.92% between 2017 and 2023. The major factors driving the growth of the RF test equipment market include the growing adoption of wireless networking in in-building communication systems, rising focus on developing 5G network-based devices, and increasing deployment of IoT technology-based devices for various applications. However, the requirement of longer timelines and extended R&D for developing new communication technologies inhibit the overall RF test equipment market growth.
“The market for RF test equipment with more than 6 GHz frequency is expected to witness a significant growth between 2017 and 2023”
With the growing demand for 5G connectivity technology, the demand for RF test equipment with more than 6 GHz frequency is likely to be driven. In October 2017, Qualcomm (US) launched the Snapdragon X50 5G modem chipset. With this launch, the company is able to establish a 5G connection with unprecedented wireless broadband speeds, which is up to 5 gigabits per second download speeds, using multiple 5G carriersas well as is able to demonstrate over-the-air connection, using a tiny 28 GHz mmWave antenna module. Hence, the market for RF test equipment with more than 6 GHz frequency is expected to grow at the highest CAGR during the forecast period.
“Market for benchtop RF test equipment held the largest share in 2016”
The market for benchtop RF test equipment held the largest share of ~62% in 2016. The product development phase is very critical and needs equipment with high-precision performance. Benchtop equipment are offered with high-precision capabilities; therefore, they are preferred by the designers in the product development phase. For instance, Keysight (US) offers most advanced and affordable benchtop signal analyzers. Keysight can increase the longevity of its analyzers by increasing its frequency range based on evolving customer needs.
“APAC held the largest market share in 2016 and is expected to exhibit considerable growth during the forecast period”
Asia Pacific (APAC) is expected to hold the largest share of the RF test equipment market during the forecast period. A number of OEMs as well as semiconductor device and product manufacturers are situated in APAC. The growing demand for RF test equipment is attributed to the increasing number of smartphones and continuous advancements in next-generation telecommunication standards, such as LTE, 4G, and upcoming projects on 5G. Yokogawa Electric (Japan) and Anritsu (Japan) are some of the major RF test equipment providers based in this region.
Break-up of the profiles of primary participants:
• By Company: Tier 1 – 25%, Tier 2 – 40%, and Tier 3 – 35%
• By Designation: C-Level Executives – 50%, Directors – 32%, and Others – 18%
• By Region: North America – 32%, Europe – 30%, Asia Pacific – 24%, and Rest of the World – 14%
The report includes the competitive landscape of the x prominent market players, including Anritsu (Japan), Fortive (US), Keysight (US), National Instruments (US), Rohde & Schwarz (Germany), Teradyne (US), Yokogawa (Japan), Teledyne Technologies (US), Cobham (UK), EXFO (US), Giga-tronics (US), Chroma (Taiwan), Good Will Instruments (Taiwan), and B&K Precision (US).
This research report categorizes the global RF test equipment market on the basis of type, form factor, frequency, application, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the market as well as provides ranking analysis of the key players.
Reasons to Buy the Report:
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the RF test equipment market comprehensively and provides the closest market size estimation for subsegments across different regions.
2. The report would help stakeholders understand the pulse of the market and provide them the information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain insights to improve their position in the business. The competitive landscape section includes the competitor ecosystem, product launches, acquisitions, partnerships, expansions, agreements, and collaborations.