Europe Electronic Test And Measurement Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.65 Billion |
| Market Size (2029) | USD 3.07 Billion |
| CAGR (2024 - 2029) | 3.00 % |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Europe Electronic Test And Measurement Market Analysis
The Europe Electronic Test And Measurement Market size is estimated at USD 2.65 billion in 2024, and is expected to reach USD 3.07 billion by 2029, growing at a CAGR of 3% during the forecast period (2024-2029).
- Technological advancements fuel the demand for test and measurement equipment, with the rise of electric and hybrid vehicles emerging as a significant trend. The European Commission highlights the EU as one of the globe's major motor vehicle producers, with its automotive industry leading in private R&D investments.
- As the global appetite for EVs surges, a notable shift is seen in the sales landscape, with China stepping into a prominent role. By 2024, projections suggest that a quarter of electric vehicles sold in the EU will originate from China, underscoring the traction Chinese newcomers are gaining over local competitors. This surge in domestic EV production investments by European nations notably bolstered the electronic test and measurement equipment market.
- Also, as electronic devices shrink, the latest T&M technologies adapt to assess newer technologies like the Internet of Things, 5G, and M2M. Notably, major telecom players in countries like Germany, including DT, Telefonica, and Vodafone, are rolling out 5G networks, with coverage extending to 94% and 75% of Germany's population.
- Adopting advanced digital technologies, such as machine learning (ML) and artificial intelligence (AI), revolutionizes real-time work monitoring. For example, Keysight Technologies Inc. unveiled the Nemo Device Application Test Suite. This software solution leverages automation and AI to streamline the assessment of mobile users' interactions with native apps, benefiting both wireless service providers and app developers.
- Conversely, the market faces challenges due to price sensitivity and a growing preference for rental services. Many companies, especially those with limited capital, opt to rent test and measurement equipment, given the high initial costs associated with ownership.
Europe Electronic Test And Measurement Market Trends
The Electric Vehicles Segment is Expected to Witness Significant Growth
- The automotive industry is a cornerstone of the European economy, contributing approximately 7% to the region's gross domestic product (GDP). Over the years, this industry has been instrumental in driving economic growth and fostering innovation. The ongoing trend toward urbanization, coupled with the rising popularity of shared mobility services in key markets such as the United Kingdom, France, and Germany, significantly influences consumer preferences and, consequently, the demand for automobiles.
- During the 2022-2023 period, Europe witnessed substantial policy developments, particularly the introduction of new CO2 standards. These regulatory measures are anticipated to be crucial in accelerating the transition toward zero-emission road transport, thereby significantly boosting the demand for electric vehicles (EVs).
- According to data from the International Energy Agency (IEA), Europe secured its position as the world's second-largest market for electric cars in 2022, second only to China. The region accounted for 25% of global electric car sales and held 30% of the global stock. Leading countries in this sector include Germany, the United Kingdom, France, Norway, the Netherlands, Sweden, and Italy, which are at the forefront of electric vehicle adoption in Europe.
- Since implementing the light-duty vehicle CO2 regulation in 2019, a renewed focus has been on reducing emissions and addressing climate change. The European Union has adopted stringent new CO2 standards for cars and vans, aligned with the 2030 targets outlined in the 'Fit for 55' package. According to the European Automobile Manufacturers' Association (ACEA), the EU car market experienced a robust 13.9% growth in 2023 compared to the previous year, reaching a total annual volume of 10.5 million.
- As electric vehicles become more prevalent across the region, the demand for comprehensive testing and certification services is expected to rise significantly. These services include battery performance and security testing, electrical motor assessments, vehicle performance evaluations, charger tests, and overall certification processes. These services ensure electric vehicles' reliability, safety, and efficiency, supporting their widespread adoption and integration into the European market.
Germany To Hold Significant Market Share
- Germany's automotive industry, a global leader, stands as the backbone of the nation's industry. Germany has emerged as a frontrunner in high-tech automotive products, with a particular focus on expanding its electric vehicle (EV) and charging infrastructure. The government's commitment is evident, with the Federal Ministry for Economic Affairs and Climate Action allocating a substantial USD 1.2 billion in 2022 to bolster the nation's battery cell production, aiming for global leadership.
- This dedication to EVs, backed by incentives and funding, has significantly boosted Germany's adoption and market share of battery electric vehicles (BEVs). Consequently, the rising demand for BEVs underscores a growing necessity for electronic test and measurement equipment in the EV industry. Such equipment is pivotal, offering insights into critical metrics like current and voltage measurements and charging communication.
- Shifting focus, Germany boasts Europe's third-largest aerospace and defense industry, with a notable global military and aerospace expenditure share. In 2021, the Ministry of Defense (MOD) received a substantial EUR 46.9 billion in funding. This support increased in 2022, with the MOD's allocation rising to EUR 50.3 billion and a consistent annual commitment of EUR 50.1 billion until 2026. If the nation's ambitious 2% target is met, military expenditure could soar to EUR 85.6 billion by 2026. This increase in defense spending indicates an increased need for electronic test and measurement equipment in the aerospace and defense industries.
- Lastly, as Germany witnesses a rapid evolution in network consumption and an increasing need for faster data transmission, the country is seeing a surge in fiber networks. This demand is largely driven by the requirements of 5G technology, which necessitates a denser network infrastructure to support its advanced features. With bandwidth usage on the rise and the introduction of cutting-edge technologies, the demand for communications test and management equipment is set to soar.
Europe Electronic Test And Measurement Industry Overview
The European electronic test and measurement market is highly competitive and consists of several players. Companies continuously try to increase their market presence by introducing new products, expanding their operations, or entering strategic mergers and acquisitions, partnerships, and collaborations. Some of the major players include Tektronix Inc., Keysight Technologies, and Teledyne LeCroy Inc.
September 2023: Keysight Technologies Inc. expanded its industry-leading portfolio of Infiniium oscilloscopes with hardware-accelerated Infiniium MXR B-Series, which offers automated analysis tools that enable engineers to shorten time to market by finding anomalies quickly.
September 2023: NI announced new options and extended capabilities for its third-generation PXI Vector Signal Transceiver (VST), the PXIe-5842. Combined with NI’s software ecosystem, the PXIe-5842 is a versatile tool that can test and validate products in aerospace and defense applications. This supports traditional RF capabilities such as signal analysis, spectrum analysis, and signal generation.
August 2023: Advantest Corporation announced two additions to its MPT3000 solid-state drive (SSD) test platform. The independent thermal control (ITC) device interface boards (DIBs) and engineering thermal chamber (ETC) target early engineering adoption of the MPT3000 by enabling efficient, small-batch engineering, early test development, and quality assurance for SSD devices.
Europe Electronic Test And Measurement Market Leaders
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Tektronix Inc.
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Keysight Technologies
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Rohde & Schwarz GmbH & Co. KG
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National Instruments Corporation
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Fluke Corporation
*Disclaimer: Major Players sorted in no particular order
Europe Electronic Test And Measurement Market News
- October 2023: Fortive Corporation announced that it entered a definitive agreement to acquire EA Elektro-Automatik Holding GmbH for USD 1.45 billion in cash. This acquisition will enhance Fortive's leading position in electronic testing and measurement, helping to enable the global energy transition.
- October 2023: Keysight Technologies Inc. introduced the new Phased Array Antenna Control and Calibration solution, which enables satellite designers and manufacturers to quickly and efficiently calibrate and verify the performance of phased arrays at an early stage.
- September 2023: NI announced its third generation PXI Vector Signal Transceiver (VST), the PXIe-5842. The PXIe-5842 is combined with NI’s software ecosystem, which can be used to test and validate products in aerospace and defense applications while supporting traditional RF capabilities such as signal generation, signal analysis, and spectrum analysis.
Europe Electronic Test And Measurement Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of Macroeconomic Factors on the Electronic Test and Measurement Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Technological Advancements Leading to the Need for Test and Measurement Equipment
5.1.2 Emerging Trend of Electric and Hybrid Vehicle
5.2 Market Challenges
5.2.1 Price Sensitivity and Increasing Preference for Rental Services
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Semiconductor Automatic Test Equipment (ATE)
6.1.2 Radio Frequency (RF) Test Equipment
6.1.3 Digital Test Equipment
6.1.4 Electrical and Environmental Test
6.1.5 Data Acquisition (DAQ)
6.2 By Application
6.2.1 Communications
6.2.2 Semiconductors and Computing
6.2.3 Aerospace and Defense
6.2.4 Consumer Electronics
6.2.5 Electric Vehicles
6.3 By Country***
6.3.1 United Kingdom
6.3.2 Germany
6.3.3 France
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Tektronix Inc.
7.1.2 Keysight Technologies
7.1.3 Rohde & Schwarz GmbH & Co. KG
7.1.4 National Instruments Corporation
7.1.5 Fluke Corporation
7.1.6 Teledyne LeCroy Inc.
7.1.7 Yokogawa Test & Measurement Corporation
7.1.8 Teradyne Inc.
7.1.9 Chauvin Arnoux Group
7.1.10 Advantest Corporation
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Europe Electronic Test And Measurement Industry Segmentation
Test and measurement equipment involves an instrument as a physical means to determine a quantity or a variable. These types of equipment simulate the inputs to a system or device under test, helping the designer test the simulated actual life condition. The market is defined by the revenue accrued from the sales of different types of electronic test and measurement equipment over various end users across Europe.
The European electronic test and measurement market is segmented by type (semiconductor automatic test equipment [ATE], radio frequency [RF] test equipment, digital test equipment, electrical and environmental test, and data acquisition [DAQ]), application (communications, semiconductors, and computing, aerospace and defense, and consumer electronics and electric vehicles), and country (United Kingdom, Germany, France, and Rest of Europe). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Semiconductor Automatic Test Equipment (ATE) | |
| Radio Frequency (RF) Test Equipment | |
| Digital Test Equipment | |
| Electrical and Environmental Test | |
| Data Acquisition (DAQ) |
| By Application | |
| Communications | |
| Semiconductors and Computing | |
| Aerospace and Defense | |
| Consumer Electronics | |
| Electric Vehicles |
| By Country*** | |
| United Kingdom | |
| Germany | |
| France |
Europe Electronic Test And Measurement Market Research FAQs
How big is the Europe Electronic Test And Measurement Market?
The Europe Electronic Test And Measurement Market size is expected to reach USD 2.65 billion in 2024 and grow at a CAGR of 3% to reach USD 3.07 billion by 2029.
What is the current Europe Electronic Test And Measurement Market size?
In 2024, the Europe Electronic Test And Measurement Market size is expected to reach USD 2.65 billion.
Who are the key players in Europe Electronic Test And Measurement Market?
Tektronix Inc., Keysight Technologies, Rohde & Schwarz GmbH & Co. KG, National Instruments Corporation and Fluke Corporation are the major companies operating in the Europe Electronic Test And Measurement Market.
What years does this Europe Electronic Test And Measurement Market cover, and what was the market size in 2023?
In 2023, the Europe Electronic Test And Measurement Market size was estimated at USD 2.57 billion. The report covers the Europe Electronic Test And Measurement Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Electronic Test And Measurement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Electronic Test And Measurement Industry Report
Statistics for the 2024 Europe Electronic Test And Measurement market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Electronic Test And Measurement analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
