DUBLIN, Dec. 3, 2021 /PRNewswire/ -- The "Global Testing Equipment Market: Size, Trends & Forecast with Impact Analysis of COVID-19 (2021-2025)" report has been added to ResearchAndMarkets.com's offering.
The report provides an in depth analysis of the global testing equipment market by value, by end-user, by region, etc. The report provides a regional analysis of the testing equipment market, including the following regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. The report also provides a detailed analysis of the COVID-19 impact on the testing equipment market.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall testing equipment market has also been forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The global testing equipment market is fragmented with many major market players operating worldwide. The manufacturers of testing equipment produce different types of products to cater to the needs of various sectors. The key players of the global testing equipment Market are Keysight Technologies Inc., Teradyne Inc., Advantest Corporation, and Cohu Inc. (LTX-Credence) are also profiled with their financial information and respective business strategies.
The testing equipment market can be segmented on the basis of end-user (consumer electronics, automotive, healthcare, telecom, energy and utility and others).
While most of the industries worldwide suffered a negative impact from COVID-19, the global testing equipment market witnessed a mixed impact on it. Initially, the market witnessed a fall in the supply and shipment of testing equipment, however, the demand for testing equipment was more or less the same during the pandemic. Later in the year, the supply nearly matched the demand.
The global testing equipment market has increased during the years 2019-2020 and projections are made that the market would rise in the next four years i.e. 2021-2025.
The global testing equipment market is expected to increase due to the increased demand for consumer electronic devices, increasing penetration of smart connected devices, rise in the automotive industry, increasing use of testing equipment in the industrial sector, and supportive government initiatives, yet the market faces some challenges such as, economic downturn, high cost associated with the testing equipment, increasing complexity of the devices, etc.
Key Topics Covered:
Global Market Analysis
Regional Market Analysis
Impact of COVID-19 on the Global Testing Equipment Market
Market Dynamics
Growth Drivers
- Increased Demand for Consumer Electronic Devices
- Increasing Penetration of Smart Connected Devices
- Rise in Automotive Industry
- Increasing Use of Testing Equipment in Industrial Sector
- Supportive Government Initiatives
Challenges
- Economic Downturn
- High Cost Associated
- Increasing Complexity of the Devices
Market Trends
- Improvement in Wireless Network Infrastructure
- Increasing Penetration of AI applications
- Escalating Use of Advanced Medical Equipment
- Rising Awareness to Reduce Carbon Emission
Competitive Landscape
- Global Testing Equipment Market Players: A Financial Comparison
Company Profiles
- Advantest Corporation
- Cohu Inc. (LTX-Credence)
- Keysight Technologies Inc.
- Teradyne Inc
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