RF Test Equipment Market worth 3.21 Billion USD by 2023
According to the new market research report on the "RF Test Equipment Market by Type (Oscilloscopes, Signal Generators, Spectrum Analyzers, Network Analyzers), Form Factor (Benchtop, Portable, Modular), Frequency, Application (Telecommunication, Consumer Electronics), and Region - Global Forecast to 2023", this market is expected to be worth USD 3.21 Billion by 2023 from USD 2.41 Billion in 2017, at a CAGR of 4.92% between 2017 and 2023.
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Modular RF test equipment to grow at the highest rate during the forecast period
The market for modular RF test equipment is estimated to register the highest CAGR during the forecast period. This is attributed to its characteristics such as the ability to manage and analyze large datasets in real time and high-precision performance. Also, modular instruments have the ability to manage and analyze large datasets in real time. The introduction of the PXI (PCI extensions for instrumentation) standard as an extension of Compact PCI by National Instruments (US) helped OEMs to provide cost-efficient equipment and well-performing modular system components, which are among the prime reasons for its faster growth.
RF test equipment with a frequency range of 1 GHz to 6 GHz hold the largest share during the forecast period
Many RF equipment conform to the IEEE802.11b/g/n wireless standards, using 2.4 GHz frequency. Owing to the rising demand for seamless co