Europe Electronic Test And Measurement Market Size (2024 - 2029)

Europe Electronic Test And Measurement Market Analysis

The Europe Electronic Test And Measurement Market size is estimated at USD 2.65 billion in 2024, and is expected to reach USD 3.07 billion by 2029, growing at a CAGR of 3% during the forecast period (2024-2029).

• Technological advancements fuel the demand for test and measurement equipment, with the rise of electric and hybrid vehicles emerging as a significant trend. The European Commission highlights the EU as one of the globe's major motor vehicle producers, with its automotive industry leading in private R&D investments.
• As the global appetite for EVs surges, a notable shift is seen in the sales landscape, with China stepping into a prominent role. By 2024, projections suggest that a quarter of electric vehicles sold in the EU will originate from China, underscoring the traction Chinese newcomers are gaining over local competitors. This surge in domestic EV production investments by European nations notably bolstered the electronic test and measurement equipment market.
• Also, as electronic devices shrink, the latest T&M technologies adapt to assess newer technologies like the Internet of Things, 5G, and M2M. Notably, major telecom players in countries like Germany, including DT, Telefonica, and Vodafone, are rolling out 5G networks, with coverage extending to 94% and 75% of Germany's population.
• Adopting advanced digital technologies, such as machine learning (ML) and artificial intelligence (AI), revolutionizes real-time work monitoring. For example, Keysight Technologies Inc. unveiled the Nemo Device Application Test Suite. This software solution leverages automation and AI to streamline the assessment of mobile users' interactions with native apps, benefiting both wireless service providers and app developers.
• Conversely, the market faces challenges due to price sensitivity and a growing preference for rental services. Many companies, especially those with limited capital, opt to rent test and measurement equipment, given the high initial costs associated with ownership.

Europe Electronic Test And Measurement Industry Segmentation

Test and measurement equipment involves an instrument as a physical means to determine a quantity or a variable. These types of equipment simulate the inputs to a system or device under test, helping the designer test the simulated actual life condition. The market is defined by the revenue accrued from the sales of different types of electronic test and measurement equipment over various end users across Europe.

The European electronic test and measurement market is segmented by type (semiconductor automatic test equipment [ATE], radio frequency [RF] test equipment, digital test equipment, electrical and environmental test, and data acquisition [DAQ]), application (communications, semiconductors, and computing, aerospace and defense, and consumer electronics and electric vehicles), and country (United Kingdom, Germany, France, and Rest of Europe). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.