RF Test Equipment Market Expected to be worth USD 3.21 billion by 2023

According to the new market research report from MarketsandMarkets, the RF Test Equipment market is expected to be worth USD 3.21 billion by 2023 from USD 2.41 billion in 2017. The report expects the market to grow at a CAGR of 4.92% between 2017 and 2023.

Modular RF Test Equipment to Grow at the Highest Rate

The market for modular RF test equipment is estimated to register the highest CAGR during the forecast period. This is attributed to its characteristics such as the ability to manage and analyze large datasets in real time and high-precision performance. 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, which are among the prime reasons for its faster growth.

RF Test Equipment With Frequency Range of 1 GHz To 6 GHz Hold the Largest Share

Most RF equipment conforms to the IEEE802.11b/g/n wireless standards, using 2.4 GHz frequency. Owing to the rising demand for seamless connectivity with higher data rate, Wi-Fi technology-based RF equipment, which conform the IEEE802.11a wireless standards, with a frequency range of 5 GHz to 6 GHz are in high demand. Hence, RF test equipments with a frequency range of 1 GHz to 6 GHz are used for most industrial IoT-related applications. These factors drive the growth of the market for RF test equipment with a frequency range of 1 GHz to 6 GHz.

RF Test Equipment in APAC to Grow at the Highest Rate

APAC is expected to be the fastest-growing market for RF test equipment during 2017-2023. A number of OEMs as well as semiconductor device and product manufacturers are situated in APAC. The growing demand for RF test equipment is attributed to the increasing number of smartphones and continuous advancements in next-generation telecommunication standards, such as LTE, 4G, and upcoming projects on 5G. Moreover, favorable regulatory policies for the approval of new semiconductor technologies and the saturation of the market in developed countries are the factors that intensify the interest of foreign players in Asia Pacific.

The report profiles the most promising players in the RF test equipment. The competitive landscape of the market presents an interesting picture of the strategies adopted by a large number of players.

Download the Report - 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