The global test and measurement equipment market was valued at USD 34.11 billion in 2024 and is projected to reach USD 43.95 billion by 2030, expanding at a CAGR of 4.5% from 2025 to 2030. Market growth is largely driven by the increasing complexity of electronic devices and systems across key industries, including automotive, telecommunications, and aerospace.
The rapid adoption of emerging technologies such as 5G, the Internet of Things (IoT), and artificial intelligence (AI) is creating a strong need for highly accurate testing to ensure performance, reliability, and regulatory compliance. At the same time, a growing emphasis on quality assurance, automation, and predictive maintenance is encouraging industries to adopt advanced test and measurement solutions. Organizations are increasingly seeking tools that can deliver consistent product performance, minimize downtime, and detect potential failures at an early stage.
Test and measurement systems play a critical role in supporting efficient industrial operations by enabling real-time monitoring, improving system reliability, and streamlining production processes. Through data-driven insights and early fault detection, these solutions help manufacturers enhance productivity, optimize processes, and reduce operational risks.
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Key Market Trends & Insights
- Asia Pacific led the global test and measurement equipment market in 2024, accounting for 41.5% of total revenue. This dominance is attributed to rapid industrialization, the expansion of electronics manufacturing, and rising demand for quality testing in automotive, semiconductor, and telecommunications industries. Increased investments in research and development, along with infrastructure development, are further strengthening market growth in the region.
- By product type, the mechanical test equipment segment is expected to grow at a notable CAGR of 3.9% from 2025 to 2030. Growing demand for safety, reliability, and quality assurance across industries such as automotive, aerospace, construction, and manufacturing is driving this growth. As materials and product designs become more sophisticated, precise mechanical testing—including tensile, compression, and impact testing—has become increasingly essential. Advancements in automation and digital integration, along with stricter regulatory requirements, are further supporting adoption.
- By service type, the calibration services segment dominated the market in 2024, capturing 58.1% of the total revenue share. Industries such as aerospace, automotive, and telecommunications rely heavily on accurate measurements, making regular calibration essential to meet stringent regulatory standards and maintain operational efficiency. The integration of automation, IoT, and cloud-based calibration solutions is improving accuracy and efficiency, while the growing complexity of modern instruments continues to drive demand for specialized calibration services.
- By end use, the automotive and transportation segment accounted for the largest revenue share of 23.1% in 2024. Demand in this segment is fueled by the increasing complexity of modern vehicles, including electric vehicles (EVs) and autonomous driving systems. Technologies such as battery management systems, radar, LiDAR, and vehicle-to-everything (V2X) communication require precise and reliable testing to ensure safety, performance, and regulatory compliance. Additionally, stringent global safety and emissions regulations are reinforcing the need for comprehensive testing solutions.
Market Size & Forecast
- 2024 Market Size: USD 34.11 Billion
- 2030 Projected Market Size: USD 43.95 Billion
- CAGR (2025-2030): 4.5%
- Asia-Pacific: Largest market in 2024
Key Companies & Market Share Insights
Leading companies in the test and measurement equipment market include Keysight Technologies and Fortive Corporation, among others.
- Keysight Technologies offers electronic design and test solutions for industries such as aerospace, defense, telecommunications, automotive, and semiconductor manufacturing. Its comprehensive portfolio includes oscilloscopes, signal generators, network analyzers, and advanced software tools. Keysight’s solutions support accurate testing, validation, and optimization of complex electronic systems, enabling innovation in areas such as 5G, IoT, and autonomous vehicles.
- Fortive Corporation is a diversified industrial technology company with a strong market presence through its subsidiaries. Fortive provides a wide range of precision instruments and solutions for industrial automation, quality control, and research applications. Its offerings include electrical testing, flow measurement, calibration, and data acquisition tools, serving industries such as manufacturing, healthcare, and energy.
Key Players
- Keysight Technologies
- Fortive Corporation
- AMETEK, Inc.
- Rohde & Schwarz
- National Instruments (NI)
- Teledyne Technologies
- VIAVI Solutions
- Anritsu Corporation
- Yokogawa Electric Corporation
- Advantest Corporation
- EXFO Inc.
- Fujian Lilliput Optoelectronics Technology Co., Ltd (OWON)
- IKM Instrutek
- Uni-Trend Technology Co., Ltd.
- Particle Measuring Systems (Spectris)
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Conclusion
The test and measurement equipment market is poised for steady growth through 2030, supported by the increasing complexity of electronic systems and the rapid adoption of advanced technologies across multiple industries. Strong demand from the automotive and transportation sector, expanding electronics manufacturing in Asia Pacific, and the growing importance of calibration and quality assurance are key factors shaping the market. As industries continue to prioritize reliability, automation, and predictive maintenance, advanced test and measurement solutions will remain essential for ensuring performance, compliance, and operational efficiency.
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