The global Radio Test Set Market is estimated to be valued at US$1,438.54 Million in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Radio test sets are used to test radio transmitters and receivers present in communication devices such as radios, cell phones, walkie-talkies, etc. It helps accurately measure parameters like frequency, power, modulation and detects issues if any.
Market key trends:
Adoption of next generation wireless technologies: Emerging technologies like 5G, LTE-Advanced, and IoT are propelling the demand for highly efficient testing and measurement tools. Radio test sets are capable of testing advanced wireless devices operating on new generation technologies. The transition from 4G to 5G network across major economies is a key trend fueling sales of radio test sets. Growing use of radio technologies in various end-use industries such as defense, transportation, automotive, and healthcare is also supporting the market growth over the forecast period.
Market key trends:
The radio test set market is witnessing increased demand for modular and multiband radio test sets. Manufacturers are developing more modular radio test sets that offer flexibility to test multiple radio bands and standards using a single piece of equipment. This simplifies the testing process and reduces expenses associated with procurement and maintenance of multiple single-use radio test sets. Furthermore, rapid advancements in wireless technologies such as the transition from 2G/3G to 4G/5G have increased the need for radio test sets capable of testing multiband radio equipment.
SWOT Analysis
Strength: Provides customized and cost-effective solution for testing radios of various frequency bands and standards.
Weakness: Initial investment required in R&D to develop multiband testing capability. Modular test sets also have higher unit cost.
Opportunity: Growing deployment of 4G/5G networks worldwide increases need for flexible radio test sets.
Threats: Intense competition from local players offering low-cost single-use test sets for specific radio standards.
Key Takeaways
The global Radio Test Set market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing deployment of 4G/5G networks worldwide.
Regional analysis: Asia Pacific dominates the market and is expected to grow at the fastest pace during the forecast period. This is attributed to rapid investments by countries like China and India in upgrading telecom infrastructure. Furthermore, the presence of electronic manufacturing hubs in the region has also boosted the Radio Test Set market in Asia Pacific.
Key players operating in the Radio Test Set market are Anritsu, Keysight Technologies, Rohde & Schwarz, LitePoint, Spirent Communications, Tektronix, Aeroflex, National Instruments.
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