North America Electronic Test And Measurement Market Size (2024 - 2029)

North America Electronic Test And Measurement Market Analysis

The North America Electronic Test And Measurement Market size is estimated at USD 3.86 billion in 2024, and is expected to reach USD 4.73 billion by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).

• The North American test and measurement equipment market is poised for significant growth, driven by escalating demands in automotive, aerospace, defense, industrial transportation, IT/telecommunications, etc. These industries increasingly adopt IoT, 5G, M2M, and millimeter technologies, aiming for a more connected and secure world.
• Embedded and portable testing solutions, especially for IoT, are gaining traction in North America. These solutions boast features like remote troubleshooting and compatibility with the latest interfaces and protocols.
• Predictive maintenance is a cornerstone in the industrial landscape, transitioning from reactive problem-solving to proactive root-cause analysis. With the introduction of Industry 4.0, these devices have become essential for facility management, serving as proactive rather than reactive measures.
• Automotive firms swiftly embrace automated testing, propelling the demand for electronic testing equipment. The surge in electronic features in vehicles, spanning infotainment, connectivity, and safety, alongside the rising popularity of e-vehicles for green mobility, is further bolstering the electronic testing sector. Additionally, heightened R&D activities across the electronics value chain are set to amplify this demand.
• Yet, the market faces challenges. Price sensitivity and a growing preference for rental services are hindering growth. Many companies, especially those with limited capital, opt for rentals due to the high initial costs of owning such equipment.

North America 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 from selling different electronic test and measurement equipment types to various end users across North America.

The North American 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 States and Canada). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.