RF Test Equipment Market for Spectrum Analyzers Expected to Grow at the Highest CAGR During the Forecast Period

September 24 17:12 2019
RF Test Equipment Market for Spectrum Analyzers Expected to Grow at the Highest CAGR During the Forecast Period

RF Test Equipment Market
RF Test Equipment Market size Research Report, identifies new revenue opportunities. The report aims at estimating the market size and future growth of the RF Test Equipment industry based on Type, Form Factor, Frequency, application and region – Global Forecast to 2023

In this research report, the RF test equipment market has been segmented on the basis of type, form factor, frequency, application, and geography. The market is expected to be worth USD 3.21 billion by 2023 and register 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.

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The National Fire Protection Association (NFPA) and the International Code Council (ICC) continue to develop national-level model codes for in-building public safety communication systems; as a result, standardized and high-quality RF equipment are manufactured. Many instrument suppliers are ready to test 5G in trial deployments; these 5G equipment are likely to be commercialized by 2020. In the R&D stage, there is a high demand for in-lab RF test equipment as they play a vital role during the designing and testing phases. With the growing developments in 5G technology, the demand for RF test equipment is expected to grow.

RF Test Equipment Market

The market for spectrum analyzers is estimated to register the highest CAGR during the forecast period. Technological advancements leading to innovations in the spectrum analyzer offerings, significant improvements in bandwidth and frequency, and high adoption of portable devices in the market are the factors that drive the demand for spectrum analyzers in the near future.

The market for modular RF test equipment is estimated to be the fastest-growing segment during the forecast period. The modular equipment are PC-based instruments that have major features and far more capability. Also, modular instruments have the ability to manage and analyze large datasets in real time. The introduction of the PXI (PCI extensions for instrumentation) standard as an extension of Compact PCI by National Instruments (US) helped OEMs to provide cost-efficient equipment and well-performing modular system components.

The market for RF test equipment with more than 6 GHz frequency is expected to grow at the highest CAGR during the forecast period. With the growing demand for 5G connectivity technology, the demand for RF test equipment with more than 6 GHz frequency is likely to be increased in the coming years. On 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 carriers as well as able to demonstrate the over-the-air connection, using a tiny 28 GHz mmWave antenna module.

The RF test equipment market for the automotive application is expected grow at the highest rate during the forecast period. The demand for various technologies in the automotive sector expected to drive the demand for RF test equipment. RF technologies required for the automotive applications include GPS for satellite navigation, cellular technologies for communication, Wi-Fi for internet access and car-to-car (C2C) communication, dedicated short-range communication (DSRC) technology for automatic payment systems, Bluetooth for hands-free communication, and several others. These factors drive the RF test equipment market growth for automotive applications in the near future.

Asia Pacific (APAC) is expected to grow at highest CAGR during the forecast period owing to the growing demand for smartphones is driving the growth of the RF test equipment market in the region. Also, the connectivity solution providers, namely Huawei (China), MediaTek (Taiwan), Renesas (Japan), Sony (Japan), and Samsung (South Korea) are based in this region. R&D teams of top global fabless companies are working in Indian offices. Owing to the presence of manufactures and R&D centers in the region, the demand for RF test equipment in APAC is driving the growth of the RF test equipment market in APAC in the near future.

 

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