Market Research Future (MRFR) announces the publication of its half-cooked research report—Global Renting & Leasing Test and Measurement Equipment Market 2020–2026.
According to Market Research Future, the global Renting & Leasing Test and Measurement Equipment Market has been segmented based on product, component, application, and region.
The major factors contributing to market growth include the growing adoption of consumer electronics devices and technological advancement in telecommunication and networking. The roll-out of the 5G network across several regions has significantly increased the adoption of wireless test and measurement equipment such as logic analyzers, spectrum analyzers, and network analyzers. The role of renting & leasing test and measurement instruments has immense importance in telecommunication to rectify faults and distortions in the networks for providing better signal quality. Although the telecommunication industry remains one of the dominating application segments of the renting & leasing test and measurement equipment market, other applications such as automotive, electronics and semiconductor, and healthcare also show a significant growth rate during the forecast period. The market witnesses a growth opportunity due to the commercialization of IoT.
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By product, the global renting & leasing test and measurement equipment market has been segmented into general-purpose test equipment, wireless test equipment, semiconductor test equipment, and RF test chambers. The general-purpose test equipment is further segmented into oscilloscopes, signal generators, analyzers, meters, thermal imagers, bit error ration testers (BERT), and others. The wireless test equipment market is further segmented into logic analyzers, spectrum analyzers, network analyzers, and network simulators. Among these, the general-purpose test equipment segment accounted for the largest market share in 2019 and is expected to register a CAGR of 4.6% during the forecast period. The wireless test equipment segment was the second-largest market in 2019 to exhibit a CAGR of 5.4%.
By component, the global renting & leasing test and measurement equipment market has been segmented into connectors, cable assemblies, and value-added accessories. Connectors held the largest market share in 2019. Connectors are either plugs or cables that connect two or more systems to transmit data or power between different systems or devices. The connectors are shock and vibration resistant and offer strong shielding against adverse environments. The connectors are used in navigation systems and measurement equipment, including thermocouple sensors, flow sensors, current sensors, voltage sensors, and pressure sensors.
By application, the global renting & leasing test and measurement equipment market has been segmented into aerospace & defense, healthcare & medical equipment, telecommunication, electronics & semiconductor, industrial & manufacturing, automotive, and others. The aerospace & defense segment is one of the prominent end users of testing and measurement equipment. Increasing government investment in military and defense departments also creates the demand for new and improved ammunition and machinery. However, the increasing demand for advanced testing solutions and growing complexity in aviation and defense systems create challenges for testing, validation, and verification of these equipment, which further creates the need for reliable and scalable testing solutions.
By region, the renting & leasing test and measurement equipment market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America holds the largest share in the renting & leasing test and measurement equipment market due to the presence of key players such as National Instruments, Keysight Technologies, and Teledyne Technologies Incorporated. These companies are market leaders and continuously making significant investments towards technological advancement. Additionally, the growing development in the IT and telecom industry demands accurate testing of equipment, which is fueling the growth of renting & leasing test and measurement equipment market in North America. The growing need for increased operational efficiency, enhanced safety, and new technological breakthrough in the aerospace industry is expected to drive the demand for the regional market.
Some of the prominent players in the global renting & leasing test and measurement equipment market. These include Transcat Inc, Keysight Technologies, Viavi, Tektronix, General Electric, Rhode & Schwarz, Anritsu Corporation, Exfo Inc, Megger, Bird, Yokogawa Electric, Vanguard, National Instruments, Siemens AG, and Fluke Networks.
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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