Santa Clara, CA /PRNewswire/ - Frost & Sullivan's recent analysis, IoT and Hi-speed Communication Powering the Global Electronic Test and Measurement Market, 2020, forecasts that the advancement of 5G and the implementation of Internet of Things (IoT) technology will help the market reach $18.94 billion by 2025, despite a slight decline of 0.7% due to COVID-19. Driven by digital transformation, IoT, Industry 4.0, and other Mega Trends, the use of connected electronic devices is expected to grow regardless of vertical, as will the demand for electronic test and measurement equipment.
"Electronic test and measurement (T&M) instruments find significant utilization in research, product development, prototyping, manufacturing, and field testing applications," said Prabhu Karunakaran, Industry Analyst, Frost & Sullivan. "Semiconductor automatic test equipment (ATE) is likely to be the top revenue generator due to the sheer size of the market, ever-increasing end-user demand and the evolution of consumer electronics technologies. Radio frequency (RF) test equipment is expected to represent the second-largest revenue opportunity, driven by continuing R&D investments in communications and other verticals—both current and future programs in 5G and 6G—and the commercialization of 5G."
Karunakaran added: "The automotive end-user vertical is also expected to emerge as a significant contributor given the aggressive progress of autonomous projects, which will fuel demand and continue to offer growth opportunities."
For further revenue opportunities, electronic T&M vendors should explore the following growth areas:
- 5G: Work with various stakeholders in the value chain to capitalize on the opportunities that advancement in mmWave technology and the proliferation of 5G use cases will bring.
- Autonomous driving: Proactively monitor the development of electric vehicles (EV) and other new mobility technologies to develop solutions that address their natural testing needs.
- Power applications: Innovate and develop solutions that offer design engineers better noise performance, more precision and the ability to catch fast, small, and unpredictable signals.
- Edge IoT: Understand varied requirements for testing and design equipment that are cost-effective and require minimum customization.
- Next-gen data centers: Work with end users to understand relevant requirements and develop products to support such R&D activities.
IoT and Hi-speed Communication Powering the Global Electronic Test and Measurement Market, 2020 is part of Frost & Sullivan's global Measurement and Instrumentation Growth Partnership Service program.
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IoT and Hi-speed Communication Powering the Global Electronic Test and Measurement Market, 2020