Test and Measurement Equipment Market

Market Definition

Test and measurement equipment refers to tools, instruments, and systems used to measure, test, calibrate, and validate the performance and functionality of electronic, electrical, and mechanical devices.

The market encompasses a broad range of products including oscilloscopes, signal generators, spectrum analyzers, multimeters, and network analyzers, as well as software platforms and automated test systems, serving applications across telecommunications, automotive, aerospace, defense, industrial, and semiconductor sectors.

Test and Measurement Equipment Market Overview

The global test and measurement equipment market size was valued at USD 37.09 billion in 2024 and is projected to grow from USD 38.74 billion in 2025 to USD 54.88 billion by 2032, exhibiting a CAGR of 5.10% during the forecast period.

The growth is due to the rapid expansion of telecom infrastructure, fueled by 5G deployment and fiber network rollouts. Advancements in AI-powered automation are also improving testing accuracy and enhancing operational efficiency across industries.

Major companies operating in the Test and Measurement Equipment industry are Keysight Technologies, AMETEK.Inc., VIAVI Solutions Inc., Yokogawa, EXFO Inc., IKM, RIGOL TECHNOLOGIES, Co. LTD., ADLINK Technology Inc., Vaunix Technology Corporation, Saluki Technology, Rohde & Schwarz, Teledyne Technologies Incorporated, ANRITSU CORPORATION, ADVANTEST CORPORATION, and MEXTECH.

The accelerating growth of electric vehicle (EV) production is driving demand for advanced test and measurement equipment. Manufacturers require precise tools for battery diagnostics, powertrain validation, and high-voltage component testing.

Increasing complexity in EV architectures necessitates a comprehensive evaluation of battery performance, thermal behavior, and drivetrain efficiency to ensure safety, durability, and regulatory compliance. This is increasing the need for high-frequency, high-precision instruments that support complete testing across the EV development cycle.

Test equipment providers and manufacturers are developing EV-focused solutions such as high-voltage testing systems, automated battery analyzers, and integrated monitoring platforms aligned with automotive standards.

Leading companies are also forming strategic partnerships with OEMs and Tier-1 suppliers to deliver customized testing capabilities that meet evolving electric mobility requirements. These factors are accelerating innovation in testing technologies and expanding the market. 

• In November 2024, Tesla’s revised Tech Note TN‑15‑92‑003 R8 mandated the use of certified high-voltage testing tools, including multimeters, insulation testers, and Personal Protective Equipment (PPE) for EV diagnostics and maintenance. 

Key Highlights:

1. The test and measurement equipment industry size was recorded at USD 37.09 billion in 2024.
2. The market is projected to grow at a CAGR of 5.10% from 2025 to 2032.
3. North America held a market share of 30.10% in 2024, with a valuation of USD 11.16 billion.
4. The oscilloscopes segment garnered USD 6.42 billion in revenue in 2024.  
5. The calibration services segment is expected to reach USD 20.75 billion by 2032.
6. The design & development segment secured the largest revenue share of 26.50% in 2024.
7. The telecommunications segment is poised for a robust CAGR of 5.89% through the forecast period.
8. Asia Pacific is anticipated to grow at a CAGR of 5.80% during the forecast period.

Market Driver

Expansion of Telecom Infrastructure

Rapid growth in telecom infrastructure is a major driver of the test and measurement equipment market, as operators accelerate 5G deployments, fiber-optic rollouts, and cloud-based communication systems. These advanced networks require precise evaluation of signal quality, latency, throughput, and interoperability, increasing the need for high-frequency and scalable test solutions during deployment and maintenance.

Manufacturers of test instruments and network analyzers are developing specialized platforms to support 5G radio access components, optical transmission systems, and virtualized network functions. Providers of testing software and cloud-based diagnostics are forming strategic collaborations with telecom operators and infrastructure vendors to deliver automated validation tools, real-time analytics, and cloud-integrated testing frameworks.

• In July 2024, Viavi Solutions Inc., in collaboration with the Telecom Infra Project (TIP), introduced the VIAVI Automated Lab-as-a-Service for Open Radio Access Network (VALOR). The initiative is supported by a USD 21.7 million grant from the National Telecommunications and Information Administration (NTIA). VALOR serves as a cloud-based, automated testing environment designed to accelerate validation, integration, and performance testing of Open RAN components within disaggregated telecom networks.

Market Challenge

High Cost and Complexity

A significant challenge in the test and measurement equipment market is the high cost and technical complexity of advanced testing systems, which restricts broader adoption, particularly among small and medium-sized enterprises.

Increasingly sophisticated testing requirements demand regular upgrades, integration capabilities, and skilled personnel, which raise the total cost of ownership and prolong deployment cycles. Organizations operating with limited budgets face difficulties in adopting comprehensive testing solutions, which in turn slows market growth in cost-sensitive segments.

To address this challenge, manufacturers are designing modular and scalable platforms that enable phased investments and flexible configurations. Furthermore, they are integrating cloud-based architectures and automation to reduce infrastructure costs and streamline operations. These initiatives are lowering adoption barriers, enhancing accessibility, and promoting wider market penetration without compromising testing accuracy or reliability.

Market Trend

AI-Powered Automation as a Rising Trend in Test and Measurement

Artificial intelligence (AI) powered automation is a key trend in the test and measurement equipment market, as it enhances efficiency by automating test procedures and minimizing manual intervention.

Since these systems leverage machine learning algorithms and intelligent data processing, they improve accuracy, enable real-time fault detection, and support predictive maintenance. Therefore, the adoption of AI in testing environments is enabling smarter workflows and improving test reliability across complex applications.

• In May 2024, Reply launched its AI-powered "Silicon Shoring" model, enabling end-to-end automation across the software development lifecycle using intelligent agents for testing, quality assurance, and deployment. This solution reduces downtime and enhances accuracy reflecting the business trend of adopting AI-driven automation to streamline and modernize test and measurement processes.

Test and Measurement Equipment Market Report Snapshot

Segmentation	Details
By Product Type	Oscilloscopes, Signal Generators, Spectrum Analyzers, Multimeters, Network Analyzers, Logic Analyzers, Power Meters
By Service Type	Calibration Services, Repair & After-Sales, Asset Management
By Application	Design & Development, Manufacturing, Installation & Maintenance, Network Testing
By End-Use Industry	Telecommunications, Automotive, Aerospace & Defense, Electronics, Healthcare, Industrial
By Region	North America: U.S., Canada, Mexico
	Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe
	Asia-Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia-Pacific
	Middle East & Africa: Turkey, U.A.E., Saudi Arabia, South Africa, Rest of Middle East & Africa
	South America: Brazil, Argentina, Rest of South America

Market Segmentation:

• By Product Type (Oscilloscopes, Signal Generators, Spectrum Analyzers, Multimeters, Network Analyzers, Logic Analyzers, and Power Meters): The oscilloscopes segment earned USD 6.42 billion in 2024 due to its critical role in high-precision signal analysis across rapidly growing sectors such as electronics, telecommunications, and automotive.
• By Service Type (Calibration Services, Repair & After-Sales, and Asset Management): The calibration services segment held 39.40% of the market in 2024, due to increasing regulatory compliance requirements and the need for consistent equipment accuracy across critical industries such as aerospace, healthcare, and manufacturing.
• By Application (Design & Development, Manufacturing, Installation & Maintenance, and Network Testing): The design & development segment is projected to reach USD 13.63 billion by 2032, owing to the growing demand for precision testing during product innovation cycles across industries such as electronics, automotive, and telecommunications.
• By End-Use Industry (Telecommunications, Automotive, Aerospace & Defense, Electronics, Healthcare, and Industrial): The telecommunications segment earned USD 8.31 billion in 2024 due to the continuous expansion of network infrastructure and the increasing need for high-performance testing across 5G, optical, and wireless communication systems.

Test and Measurement Equipment Market Regional Analysis

Based on region, the market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. 

North America test and measurement equipment market share stood at 30.10% in 2024 in the global market, with a valuation of USD 11.16 billion. This dominance is driven by strong government funding and targeted incentives that prioritize high-tech infrastructure development and the adoption of advanced technologies across key industries.

Federal programs continue to channel resources toward innovation in aerospace, defense, telecommunications, and semiconductor manufacturing, increasing the demand for high-performance testing systems. These initiatives are also driving the deployment of precision test solutions that ensure regulatory compliance and meet strict performance and efficiency requirements.

• In November 2024, the National Institute of Standards and Technology (NIST) reported that the U.S. Department of Commerce and the Semiconductor Research Corporation (SRC) committed USD 1 billion to launch SMART USA, a CHIPS Manufacturing USA institute. The initiative focuses on digital twins for semiconductor design, manufacturing, and testing, accelerating the adoption of advanced test and measurement technologies in core industrial applications.

Asia Pacific test and measurement equipment industry is poised for significant growth at a robust CAGR of 5.80% over the forecast period. This growth is driven by the surge in automotive and electric vehicle production across Asia Pacific, driven by aggressive electrification targets and green mobility mandates. Major economies including China, Japan, and South Korea are heavily investing in EV manufacturing infrastructure, thereby fueling demand for high-precision testing equipment.

Moreover, original equipment manufacturers (OEMs) are establishing large-scale production plants to cater to growing domestic and international demand, which further accelerates equipment deployment. Moreover, favorable regulations and rapid industrial growth is further driving the market growth in this region.

Regulatory Frameworks

• In the U.S., the Federal Communications Commission (FCC) regulates radio frequency (RF) and wireless components of test and measurement equipment under the Code of Federal Regulations (CFR) Title 47, through its Equipment Authorization Program covering Certification, Declaration of Conformity, and Verification to ensure technical and regulatory compliance.
• In China, the China Metrology Accreditation (CMA) certifies laboratories involved in measurement and testing to ensure accuracy, traceability, and compliance with national standards. CMA accreditation is a mandatory requirement for laboratories that support the China Compulsory Certification (CCC) system, making it a critical component in the country's regulatory framework for quality assurance.

Competitive Landscape

The competitive landscape of the test and measurement equipment industry is characterized by consistent product innovations and strategic launches aimed at enhancing precision, connectivity, and automation. Key players are introducing advanced equipment integrated with AI, 5G, and IoT capabilities to address evolving end-user demands. Moreover, manufacturers are focusing on modular and multifunctional systems, enabling scalability and cost-efficiency.

• In January 2025, Yokogawa Test & Measurement Corporation launched the AQ6377E Optical Spectrum Analyzer for mid-wave infrared (MWIR) measurements. The device supports applications in environmental sensing, defense, and industrial monitoring by enabling high-resolution analysis of optical signals in the MWIR range.

List of Key Companies in Test and Measurement Equipment Market:

• Keysight Technologies
• AMETEK.Inc. 
• VIAVI Solutions Inc.
• Yokogawa
• EXFO Inc.
• IKM
• RIGOL TECHNOLOGIES, Co. LTD.
• ADLINK Technology Inc.
• Vaunix Technology Corporation
• Saluki Technology
• Rohde & Schwarz
• Teledyne Technologies Incorporated
• ANRITSU CORPORATION
• ADVANTEST CORPORATION
• MEXTECH

Recent Developments (Launches)

• In March 2025, Keysight Technologies, Inc. launched two high-performance oscilloscopes for 1.6T optical transceiver testing: a single-channel and a dual-channel DCA-M Sampling Oscilloscope. Designed to deliver exceptional optical measurement sensitivity with integrated clock recovery up to 120 GBaud, these instruments address the demanding needs of 1.6T transceiver validation and the manufacturing of next-generation optical interconnects for data centers and AI-driven infrastructure.
• In November 2024, Rohde & Schwarz enhanced its oscilloscope portfolio with the launch of the R&S RTB 2, a successor to the R&S RTB2000. The R&S RTB 2 builds on its predecessor’s advanced capabilities by incorporating an integrated arbitrary waveform generator and industry-leading 160 Mpts segmented memory.