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(IT-NEWSWIRE.COM, September 15, 2018 ) According to the new market research report on the "RF Test Equipment Market by Type (Oscilloscopes, Signal Generators, Spectrum Analyzers, Network Analyzers), Form Factor (Benchtop, Portable, Modular), Frequency, Application (Telecommunication, Consumer Electronics), and Region - Global Forecast to 2023", this market is expected to be worth USD 3.21 Billion by 2023 from USD 2.41 Billion in 2017, at a CAGR of 4.92% between 2017 and 2023.
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Oscilloscopes held the largest market share in 2016. For the installation of technologies, robust infrastructure and supporting technologies are required. Parameters such as transmission power and modulating frequency are crucial for error-free working. To ensure the quality of the signal in real-time, an oscilloscope is a key equipment. Moreover, the adoption rate of PXI oscilloscopes is quite high for any test and measurement system due to their ability to acquire and analyze both time- and frequency-domain analog signals and to provide higher accuracy, bandwidth, and signal flexibility compared to traditional benchtop oscilloscopes.
The market for RF test equipment having a frequency of more than 6 GHz is expected to grow significantly 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. Additionally, various research projects are using potential spectrum above 6 GHz in the telecommunications industry, which boost the growth of this market in the near future.
Asia Pacific (APAC) is expected to hold the largest share of the RF test equipment market during the forecast period owing to the growing demand for smartphones is driving the growth of the 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 of RF test equipment in APAC, which is expected to drive the growth of the RF test equipment market in APAC in the near future.
However, the longer period of technology shift is expected to be one of the key factors restraining the market growth.
Dominant players in the RF test equipment market include 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).
These players adopted various strategies such as product developments, acquisitions, partnerships, collaborations, and agreements to achieve growth in the RF test equipment market.
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