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Communication Test and Measurement Market worth $14.9 billion by 2029, growing at a CAGR of 9.1%: Report by MarketsandMarkets

/EIN News/ -- Chicago, April 18, 2024 (GLOBE NEWSWIRE) -- The global Communication Test and Measurement Market size is projected to grow from USD 9.6 billion in 2024 to USD 14.9 billion by 2029, at a CAGR of 9.1% during the forecast period 2024 to 2029, according to a new report by MarketsandMarkets™.

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The rapid expansion of the Internet of Things (IoT) and the need for seamless global connectivity are driving the demand for robust test and measurement solutions. IoT devices often operate in diverse environments and require reliable communication protocols, leading to increased testing complexity.

The ongoing rollout of 5G networks worldwide is driving significant demand for test and measurement solutions capable of validating 5G performance, including network coverage, latency, throughput, and reliability. As 5G technology matures, there's also a need for optimization tools to enhance network efficiency and user experience.

Communication Test and Measurement Market Dynamics:

Drivers:

  • Growth in demand for network testing
  • Rise in demand for automated products and need for communication test & measurement equipment
  • Rise in demand for bandwidth and traffic inspection
  • Rapid technological advancements

Opportunities:

  • Deployment of 5G networks
  • Advent of quantum communication testing

Restraints:

  • Price sensitivity
  • Lack of standardization

List of key players in Communication Test and Measurement Market:

  • Anritsu (Japan)
  • Fortive (US)
  • EXFO (Canada)
  • Rohde & Schwarz (Germany)
  • Emerson (US)
  • VIAVI Solutions (US)
  • Yokogawa (Japan)
  • Spirent Communications (UK)
  • Keysight Technologies (US)
  • Huawei (China)
  • Hammer (US)

These players not only have a comprehensive and diverse product portfolio but also have a strong geographic presence. These companies offer several product offerings and have operations worldwide. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share. These companies focus on product launches, collaborations, acquisitions, contracts, and partnerships to strengthen their footprint through product innovations and extend their business reach.

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By end user, the mobile device manufacturer segment is expected to grow with the highest CAGR during the forecast period

Communication test and measurement tools are indispensable for mobile device manufacturers, serving various critical purposes throughout the product development lifecycle. These tools enable manufacturers to ensure the quality, reliability, and performance of their products by conducting comprehensive quality assurance tests, evaluating performance under diverse network conditions, verifying interoperability with different communication standards, and ensuring compliance with regulatory standards. Additionally, they facilitate benchmarking against competitors' products, aid in field testing for real-world performance data gathering, validate firmware and software updates, and assist in customer support and troubleshooting efforts.

By end user, the telecommunication service provider segment is expected to hold the largest market size during the forecast period

Communication test and measurement are integral for telecommunication service providers, serving multifaceted purposes essential for delivering high-quality services and maintaining operational efficiency. These tools enable continuous monitoring of network performance, aiding in troubleshooting and fault detection to minimize downtime. By assessing quality of service parameters and ensuring compliance with regulatory standards, providers can uphold service quality and meet customer expectations. Additionally, communication test and measurement support capacity planning, optimization, and seamless deployment of new technologies, contributing to network scalability and innovation. Moreover, they facilitate the enforcement of service level agreements and enable proactive management of customer experience, fostering satisfaction and loyalty. Telecommunications service providers (carriers, network operators, and internet service providers) use communication test and measurement solutions to measure the performance and reliability of converged, fixed IP, and mobile networks.

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About MarketsandMarkets™
                    
                    MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
                    
                    MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
                    
                    Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
                    
                    The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
                    
                    Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
                    
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