Major players in the RF test equipment market are Keysight Technologies Inc., Anritsu Group Corp., Rohde & Schwarz GmbH & Co KG, Teledyne Technologies Incorporated, B&K Precision Corporation, National Instruments Corporation, VIAVI Solutions Inc., Yokogawa Electric Corporation, Chroma ATE Inc., EXFO Inc., Cobham PLC, Fortive Corp., Teradyne Inc., Giga-Tronics Incorporated, and Good Will Instruments Co. Ltd.
The global RF test equipment market is expected to grow from $3.05 billion in 2022 to $3.36 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The RF test equipment market is expected to reach $4.90 billion in 2027 at a CAGR of 9.9%.
The radio frequency (RF) test equipment market consists of sales of network analyzers, power sensors, and signal generators.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Radiofrequency (RF) test equipment is a special instrument called a spectrum analyzer which is utilized in various frequency ranges for research and development (R&D) and production applications. The equipment is used to take precise and repeatable measurements when conducting radio frequency (RF) tests on a bench or in the field.
North America was the largest region in the RF test equipment market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The major types of RF test equipment are oscilloscopes, signal generators, spectrum analyzers, network analyzers, and others.An oscilloscope refers to a test tool that records and shows the behavior of an electrical signal over time.
The various forms of RF test equipment are rackmount, benchtop, portable, and modular; they detect radio frequency that is less than 1 GHz, 1 GHz to 6 GHz, and more than 6 GHz and are used by medical, industrial, IT and telecommunication, consumer electronics, academic and research institutions, automotive, aerospace, and defense, among other verticals.
The increasing adoption of 5G technology is expected to propel the growth of the RF test equipment market going forward. 5G is the fifth generation of mobile networks that enables a new type of network that is meant to link almost everyone and everything, including machines, objects, and devices. 5G technology combines sub-6GHz bands and mmWave spectrum, as well as other RF technologies such as ultra-wideband (UWB), sensors, and computing techniques, to enable integrated services such as industrial automation, self-driving vehicles, the Internet of Things, and cloud computing. Additionally, the increased wireless standards have also anticipated the demand for 5G technology. For instance, in October 2022, according to a report shared by the GSM Association (GSMA), a UK-based industry organization that represents the interests of mobile network operators globally, in 2022, globally more than 640 million 5G connections have been made as of late, and by 2025, 2 billion connections are anticipated. In addition, 1.2 billion connections might be attributed to 5G by 2025. Therefore, the increasing adoption of 5G technology is driving the growth of the RF test equipment market.
Product innovations have emerged as a key trend gaining popularity in the RF test equipment market.Major companies operating in RF test equipment are advancing toward the use of innovative solutions to sustain their market position.
For instance, in September 2022, Rohde & Schwarz, a Germany-based manufacturer of test and measurement equipment, launched the R&S MXO 4 series, a next-generation oscilloscope for accelerated insight. The series has a real-time update rate of more than 4.5 million captures per second, which allows engineers to examine more signal detail and infrequent occurrences. The R&S MXO 4 series oscilloscopes feature enhanced RF spectrum measurement capabilities in addition to time domain measurements. Engineers may observe more RF signals with this base feature than with any other oscilloscope in its class.
In March 2022, RF Industries Ltd., a US-based fiber optic cable manufacturing company, acquired Microlab/FXR LLC for an undisclosed amount. This acquisition enables the combined firm to develop and drive a stronger product roadmap. Microlab’s acquisition provides access to RF Industries Ltd to the new set of high-performance, network operator-approved devices, which will be supplied to the company’s increasing client base and through its vast distribution channel. Microlab/FXR LLC is a US-based designer and manufacturer of advanced RF and microwave components and systems.
The countries covered in the RF test equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The RF test equipment market research report is one of a series of new reports that provides RF test equipment market statistics, including RF test equipment industry global market size, regional shares, competitors with a RF test equipment market share, detailed RF test equipment market segments, market trends and opportunities, and any further data you may need to thrive in the RF test equipment industry. This RF test equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.