The Importance of Test and Measurement Equipment
The test and measurement industry meets the need for testing and measurement across a wide spectrum of industries, including IT and telecommunications, healthcare, automotive, aerospace, industrial, defense, and electronics. The test and measurement equipment industry is expected to grow from $25.7 billion in 2018 to 32.3 billion by 2024, with a CAGR of 3.90%. In today’s highly digitized world, product testing and measurement has never been more crucial. It includes automatic test equipment (ATE), radio frequency (RF) test, data acquisition (DAQ), oscilloscopes, spectrum analyzers, and signal generators.
As always, companies seek to minimize capital and operational expenses, while investing in new technology for more dynamic manufacturing, autonomous functionality, and more. Original Equipment Manufacturers (OEMs) need to test and measure performance in the conditions where these products are used. 5G technology is playing a more important role in virtualization and automation – two long-term trends in the test and measurement industry. It is critical for testing and measuring wireless devices and products incorporating virtualization and automation.
All manner of vehicles today now operate with more connectivity, data and cellular networks, and infrastructure. All increase the demand for electronic testing. Suppliers are asked to prototype, develop, and deliver products faster, allowing OEMs can speed up get-to-market timelines.
In the automotive industry, engineers will need to measure increased signals with higher complexity simultaneously. As much data as possible will have to be captured and analyzed quickly to maximize the perfromance of these emerging technologies. Areas such as high-speed bandwidth will continue to grow and data analytics will have to keep up.
Increased production in the automotive and transportation industries are estimated to be the largest contributors to the test and measurement equipment industries in the coming years. There are an increasing number of automotive manufacturing hubs found throughout the world, all implementing advanced automation technologies. North America is estimated to account for the largest share of the market .
At Test Products, Inc. (TPI), we deliver custom and cost-effective electrical test equipment for the transportation industry and suppliers. We build every connector in-house, specific to your needs. Our reliable and durable test systems are designed to the industry’s highest standards. We’d be happy to discuss your next testing project with you.