Test And Measurement Equipment Market To Reach $43.95 Billion By 2030

Test And Measurement Equipment Market Growth & Trends

The global test and measurement equipment market size is anticipated to reach USD 43.95 billion by 2030, growing at a CAGR of 4.5% during the forecast period, according to a new report by Grand View Research, Inc. The market growth is driven by the growing complexity of electronic devices and systems across industries such as automotive, telecommunications, and aerospace. The emergence of advanced technologies like 5G, IoT, and AI increases the need for precise testing to ensure optimal performance, reliability, and regulatory compliance.

Market opportunities in the market for test and measurement equipment are expanding rapidly. Rapid expansion of Electric Vehicles (EVs) and Autonomous Technologies, including ADAS, is driving a heightened demand for advanced test and measurement equipment. These systems depend on intricate power electronics, precision sensors, and reliable communication networks, all requiring thorough testing to ensure safety, performance, and compliance.

Regulatory pressures play a crucial role in shaping the test and measurement equipment industry by mandating strict quality, safety, and performance standards across various industries. Adhering to international frameworks like ISO and IEC, along with regional guidelines, ensures product reliability but also adds to development costs and complexity. While they promote innovation and higher equipment standards, regulations can delay time-to-market and pose challenges for smaller companies due to ongoing certification demands.

Top market players, such as Keysight Technologies and Fortive Corporation, are focusing on various strategic initiatives to stay competitive and broaden their market presence. Significant investments in R&D are being made to create innovative, high-precision, and multifunctional testing solutions tailored for emerging technologies like 5G, IoT, and electric vehicles. Collaborations, mergers, and acquisitions are also helping expand product portfolios and global reach. Additionally, many are driving digital transformation by integrating AI and cloud-based analytics into their offerings.

 Request a free sample copy or view report summary: Test And Measurement Equipment Market Report

Test And Measurement Equipment Market Report Highlights

• Based on product type, the General Purpose Test Equipment (GPTE) segment dominated the market in 2024, due to the growing demand for electronic devices, wireless communication systems, and automotive electronics. Instruments like oscilloscopes, signal generators, and multimeters are essential across industries for R&D, maintenance, and troubleshooting. Rising investments in 5G, IoT, and semiconductor technologies are further driving the need for accurate testing solutions.

• Based on service type, the calibration services segment led the market in 2024. Industries like aerospace, automotive, healthcare, and telecommunications increasingly depend on precise measurements, making regular calibration essential to meet strict regulatory standards and maintain operational efficiency.

• Based on end use, the automotive and transportation segment led the market in 2024, driven by the growing complexity of modern vehicle,s including the rise of electric vehicles and autonomous driving technologies.

• Based on region, Asia Pacific dominated the market in 2024,driven by rapid industrialization, rising electronics manufacturing, and heightened demand for quality testing in automotive, semiconductor, and telecommunications industries. Additionally, significant investments in R&D and infrastructure are contributing to the region’s strong growth.

• In January 2025, Teradyne and Infineon Technologies announced a strategic partnership to advance power semiconductor testing. As part of the collaboration, Teradyne will acquire Infineon's automated test equipment (ATE) technology and the associated development team based in Regensburg, Germany.

Test And Measurement Equipment Market Segmentation

Grand View Research has segmented the global test and measurement equipment market based on product type, service type, end use, and region:

Test and Measurement Equipment Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• General Purpose Test Equipment   

  • Oscilloscopes

  • Signal Generators

  •  Multimeters

  •  Logic Analyzers

  •  Spectrum Analyzers

  • Bert (Bit Error Rate Test)

  • Network Analyzers

  • Others

• Mechanical Test Equipment   

  • Non-Destructive Test Equipment

  • Machine Vision Inspection

  • Machine Condition Monitoring

Test and Measurement Equipment Service Type Outlook (Revenue, USD Million, 2018 - 2030)

• Calibration Services

• Repair Services/After-Sales Services

Test and Measurement Equipment End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Automotive and Transportation

• Aerospace and Defense

• IT and Telecommunication

• Education

• Semiconductor and Electronics

• Others

Test and Measurement Equipment Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Test And Measurement Equipment Market

• Keysight Technologies

• Fortive Corporation

• AMETEK, Inc.

• Rohde & Schwarz

• National Instruments (NI)

• Teledyne Technologies

• VIAVI Solutions

• Anritsu Corporation

• Yokogawa Electric Corporation

• Advantest Corporation

• EXFO Inc.

• Fujian Lilliput Optoelectronics Technology Co., Ltd (OWON)

• IKM Instrutek

• Uni-Trend Technology Co., Ltd.

• Particle Measuring Systems (Spectris)