DUBLIN--(BUSINESS WIRE )--The "Wireless Test Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Wireless Test Equipment Market to Reach US$7.7 Billion by the Year 2026
Advancements witnessed in the global wireless telecommunication sector are the key drivers of wireless testing equipment market growth.
In addition, increase in mobile data consumer base is further stimulating the wireless test equipment demand. Furthermore, increase in mobile data offloading, as a result of growing mobile data users base adds to the demand growth of wireless testing equipment. The increase in HetNets and small cells demand is also propelling wireless test equipment demand growth.
Use of test equipment is also growing across the length of industry activity right from research, design and development stage to production, testing and deployment stage. Product development testing and conformance testing needs, will especially be focus areas for wireless test equipment in the coming years.
The market is also gaining from increasing significance of big data for organizations and aggressive efforts to push next-generation wireless technologies like 5G. Latest advances in wireless technologies like Bluetooth, NFC and Wi-Fi are presenting new growth opportunities for market participants, while developments related to IoT and AI are opening new avenues for growth.
Amid the COVID-19 crisis, the global market for Wireless Test Equipment estimated at US$5.8 Billion in the year 2022, is projected to reach a revised size of US$7.7 Billion by 2026, growing at a CAGR of 6.9% over the analysis period.
The U.S. Market is Estimated at $1.6 Billion in 2022, While China is Forecast to Reach $1.5 Billion by 2026
The Wireless Test Equipment market in the U.S. is estimated at US$1.6 Billion in the year 2022. The country currently accounts for a 27.6% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.5 Billion in the year 2026 trailing a CAGR of 9% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5% and 6.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.2% CAGR while Rest of European market (as defined in the study) will reach US$413.7 Million by the end of the analysis period.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900