Global Test and Measurement Equipment
Market Report
2025
The global Test and Measurement Equipment market size will be USD 39214.5 million in 2024. Growing demand for quality control and precision testing is expected to boost sales to USD 52302.29 million by 2031, with a Compound Annual Growth Rate (CAGR) of 4.20% from 2024 to 2031.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Test and Measurement Equipment market size will be USD 39214.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.20% from 2024 to 2031.
2021 | 2025 | 2033 | CAGR | |
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Global Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 4.2% |
North America Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 2.4% |
United States Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 2.2% |
Canada Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 3.2% |
Mexico Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 2.9% |
Europe Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 2.7% |
United Kingdom Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 3.5% |
France Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 1.9% |
Germany Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 2.9% |
Italy Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 2.1% |
Russia Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 1.7% |
Spain Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 1.8% |
Rest of Europe Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 1.4% |
Asia Pacific Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 6.2% |
China Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 5.7% |
Japan Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 4.7% |
India Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 8% |
South Korea Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 5.3% |
Australia Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 5.9% |
Rest of APAC Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 6% |
South America Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 3.6% |
Brazil Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 4.2% |
Argentina Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 4.5% |
Colombia Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 3.4% |
Peru Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 3.8% |
Chile Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 3.9% |
Rest of South America Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 2.7% |
Middle East Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 3.9% |
Egypt Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 4.2% |
Turkey Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 3.4% |
Rest of Middle East Test and Measurement Equipment Market Sales Revenue | 121212 | 121212 | 121212 | 2.9% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Product Type Outlook: |
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Market Split by Vertical Outlook: |
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Market Split by Service Type Outlook: |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Market Drivers:
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Market Trends:
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Test and Measurement Equipment Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The Test and Measurement Equipment (T&M) market refers to a range of instruments used to evaluate and verify the performance of electrical, mechanical, and electronic systems in various industries. These tools are essential for ensuring the accuracy, quality, and functionality of products and systems across sectors such as telecommunications, automotive, aerospace, electronics, and healthcare. T&M equipment includes oscilloscopes, multimeters, signal generators, spectrum analyzers, and more, used for testing parameters like voltage, frequency, and signal integrity. The market is driven by advancements in technology, the increasing need for quality control, and stringent regulatory standards across industries. As industries expand and new technologies such as 5G, IoT, and electric vehicles emerge, the demand for more sophisticated testing solutions grows. The T&M market is also benefiting from increased automation and digitalization, which are driving the development of advanced, connected, and remote testing systems, offering real-time data analytics and improved efficiency.
In May 2024, Electro Rent expanded its services to include Calibration-as-a-Service (CaaS) for test and measurement equipment in the United States and Canada, enhancing its portfolio and ensuring project continuity for customers. (Source: https://www.electrorent.com/us/news/test-equipment-calibration-services)
Stringent quality standards and regulatory compliance requirements are another major driving force for the test and measurement equipment market. Across industries such as aerospace, automotive, healthcare, and electronics, the need to meet safety and performance standards is more critical than ever. For instance, the automotive and aerospace sectors must comply with rigorous safety protocols that require continuous testing of components and systems. In the electronics industry, the demand for precision testing is rising due to complex circuit designs and the growing reliance on electronics in everyday products. Furthermore, global regulations, such as ISO and CE standards, have created a need for certified and reliable testing equipment to ensure products meet market-specific requirements. As these regulations evolve, the market for test and measurement equipment will continue to expand to support industries in meeting their compliance obligations while maintaining product quality and reliability. For instance, IDEAL Electrical proudly announced the two latest extensions of circuit tracer models in its industry line-up: the IDEAL Electrical SureTrace Plus Circuit Tracer (61-948) and the IDEAL Electrical SureTrace Circuit Tracer (61-946). Both models increase the SureTrace line by associating the latest technologies at affordable prices
The integration of innovative technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and automation has significantly enhanced the capabilities of test and measurement devices. These innovations enable more accurate, faster, and cost-efficient testing across a range of industries, including electronics, telecommunications, and automotive. Additionally, the increasing demand for miniaturized and portable testing equipment has led to the development of advanced, compact devices. These tools offer real-time data collection, automated reporting, and remote diagnostics, improving overall operational efficiency. As industries continue to embrace digital transformation and smart devices, the demand for advanced test and measurement equipment that can ensure high quality and precision is expected to grow, further fueling market expansion.
The high cost of acquiring and maintaining test and measurement equipment is a significant restraint on the market. These devices, which include instruments for electrical, mechanical, and electronic testing, require substantial initial capital investment, especially for advanced and specialized systems. Additionally, ongoing maintenance, calibration, and software updates contribute to long-term operational expenses. Smaller companies and organizations with limited budgets may be unable to afford such high costs, restricting their ability to adopt new technologies. As a result, the market may experience slower adoption in price-sensitive industries or regions, affecting overall growth.
The COVID-19 pandemic had a significant impact on the Test and Measurement Equipment market, primarily due to disruptions in manufacturing and global supply chains. Factory shutdowns and restricted transportation slowed production, leading to delays in the delivery of essential testing instruments. Additionally, many industries faced reduced budgets and postponed capital expenditures as resources were reallocated to address the immediate health crisis. On the positive side, the surge in demand for healthcare-related testing equipment, such as diagnostic tools and medical devices, partially offset declines in other sectors. As the pandemic receded, the market began recovering, with industries gradually resuming projects and investments in technology.
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The Test and Measurement Equipment market is highly competitive, with key players offering a broad range of innovative products, including oscilloscopes, signal analyzers, and network testers, catering to diverse industries like telecommunications, aerospace, automotive, and healthcare. Additionally, smaller specialized players focus on niche segments. Companies are investing in research and development to enhance accuracy, automation, and connectivity while also forming strategic partnerships to expand their market presence.
In November 2024, Advantest Corporation introduced the DC Scale XHC32, a new 32-channel power supply for the V93000 EXA Scale SoC test platform. This power supply supports up to 640A, meeting the increasing power demands of AI accelerators, HPC chips, GPUs, and other high-current devices. It offers features like flexible channel ganging, fast response, and extended profiling, ensuring efficient high-power device testing while reducing the cost of testing by protecting probe cards and test sockets. (Source: https://www.advantest.com/en/news/2024/20240515.html) In February 2021, National Instruments Corporation launched the PXIe-5842, the third-generation PXI Vector Signal Transceiver (VST). The PXIe-5842 offers continuous frequency coverage from 30 MHz to 26.5 GHz and doubles the instantaneous bandwidth to 2 GHz compared to previous models. This VST is designed to meet the needs of modern wireless communication standards, including Wi-Fi 7 and 5G, and is particularly suited for RF design validation, production testing, and sub-THz (6G) research. The device features advanced error vector magnitude (EVM) performance and high output power, making it ideal for applications requiring high-fidelity signal generation and analysis. (Source: https://www.ni.com/en/shop/wireless-design-test/vector-signal-transceivers/what-is-vst/pxie-5842-third-gen-vst.html?srsltid=AfmBOopNx8a3PwUj5gHkqry4tmSGLnIvCkzXpwEHa8t3xkx4EW5PBQfT)
Top Companies Market Share in Test and Measurement Equipment Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America currently dominates the Test and Measurement Equipment market, and the region is expected to have significant growth during the projected period. This is due to advanced technological infrastructure, strong demand across industries like aerospace, telecommunications, and automotive, and significant investments in research and development.
Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR) due to rapid industrialization, expanding electronics and telecommunications sectors, and increasing investments in manufacturing and automation.
The current report Scope analyzes Test and Measurement Equipment Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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According to Cognitive Market Research, the global Test and Measurement Equipment market size was estimated at USD 39214.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 15685.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.
According to Cognitive Market Research, the global Test and Measurement Equipment market size was estimated at USD 39214.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 11764.35 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031.
According to Cognitive Market Research, the global Test and Measurement Equipment market size was estimated at USD 39214.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 9019.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
According to Cognitive Market Research, the global Test and Measurement Equipment market size was estimated at USD 39214.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 1960.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2031.
According to Cognitive Market Research, the global Test and Measurement Equipment market size was estimated at USD 39214.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 784.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031..
Global Test and Measurement Equipment Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Test and Measurement Equipment Industry growth. Test and Measurement Equipment market has been segmented with the help of its Product Type Outlook:, Vertical Outlook: Service Type Outlook:, and others. Test and Measurement Equipment market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
How are Segments Performing in the Global Test and Measurement Equipment Market?
According to Cognitive Market Research, GPTE is likely to dominate the Test and Measurement Equipment Market over the forecast period by offering versatile, cost-effective solutions suitable for various industries. Its wide application in electrical, electronic, and telecommunications testing makes it essential across sectors, driving demand. GPTE's scalability and adaptability to technological advancements contribute to its market leadership.
The GPTE is the fastest-growing segment in the Test and Measurement Equipment Market due to its versatility and wide application across industries. GPTE offers cost-effective, multi-functional solutions catering to diverse testing needs in sectors like electronics, automotive, and telecommunications, driving its increasing adoption and demand.
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According to Cognitive Market Research, the automotive & transportation segment holds the largest share of the market due to the increasing complexity of modern vehicles and the need for precise diagnostics. T&M equipment is essential for testing electronic components, safety systems, and performance features, driving demand for advanced solutions in automotive manufacturing and maintenance.
In the Test and Measurement Equipment Market, the IT & telecommunication sector has been expanding at a rapid pace due to the rapid deployment of 5G networks and advancements in communication technologies. The need for high-precision testing solutions to ensure network reliability, signal integrity, and performance drives increased demand in this industry.
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According to Cognitive Market Research, the calibration services segment holds the largest market share due to its critical role in maintaining accuracy and compliance with industry standards. Regular calibration ensures equipment delivers precise measurements, which is essential for quality control, regulatory compliance, and operational efficiency across various sectors like automotive, healthcare, and electronics.
In the Test and Measurement Equipment market, the rapidly growing sector is the repair/after-sales services category due to the increasing complexity and longevity of instruments. As industries rely on high-precision equipment, demand for maintenance, calibration, and repair services has surged, ensuring optimal performance and extending the lifespan of costly devices.
Research Associate at Cognitive Market Research
I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.
I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.
Conclusion
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Product Type Outlook: | GPTE, MTE |
Vertical Outlook: | Automotive & Transportation, Aerospace & Defense, IT & Telecommunication, Education & Government, Industrial, Healthcare, Semiconductor & Electronics |
Service Type Outlook: | Calibration Services, Repair/After-sales Services |
List of Competitors | Agilent Technologies, Tektronix, Rohde & Schwarz, National Instruments (NI), Fluke Corporation, Anritsu, Yokogawa Electric Corporation, Teledyne LeCroy, Advantest Corporation, EXFO Inc., VIAVI Solutions, Texas Instruments, Rigol Technologies, B&K Precision, Chroma ATE Inc., GW Instek, Hioki E.E. Corporation, OMICRON Electronics |
This chapter will help you gain GLOBAL Market Analysis of Test and Measurement Equipment. Further deep in this chapter, you will be able to review Global Test and Measurement Equipment Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Test and Measurement Equipment. Further deep in this chapter, you will be able to review North America Test and Measurement Equipment Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Test and Measurement Equipment. Further deep in this chapter, you will be able to review Europe Test and Measurement Equipment Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Test and Measurement Equipment. Further deep in this chapter, you will be able to review Asia Pacific Test and Measurement Equipment Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Test and Measurement Equipment. Further deep in this chapter, you will be able to review South America Test and Measurement Equipment Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Test and Measurement Equipment. Further deep in this chapter, you will be able to review Middle East Test and Measurement Equipment Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Test and Measurement Equipment. Further deep in this chapter, you will be able to review Middle East Test and Measurement Equipment Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Test and Measurement Equipment. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Outlook: Analysis 2019 -2031, will provide market size split by Product Type Outlook:. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Outlook: Analysis 2021 - 2033
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Chapter 11 Market Split by Vertical Outlook: Analysis 2021 - 2033
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Chapter 12 Market Split by Service Type Outlook: Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Test and Measurement Equipment market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 14 Research Methodology and Sources
Why GPTE have a significant impact on Test and Measurement Equipment market? |
What are the key factors affecting the GPTE and MTE of Test and Measurement Equipment Market? |
What is the CAGR/Growth Rate of Automotive & Transportation during the forecast period? |
By type, which segment accounted for largest share of the global Test and Measurement Equipment Market? |
Which region is expected to dominate the global Test and Measurement Equipment Market within the forecast period? |