Frost & Sullivan Spots Five Areas in Radio Frequency Test & Measurement that Will Create Over $30 Billion in New Revenues by 2023

Connected car and 5G technology escalate market demand

SANTA CLARA, California, Feb. 21, 2018 /PRNewswire/ -- Frost & Sullivan's latest analysis, Radio Frequency (RF) Test and Measurement (T&M) Market, Forecast to 2023, finds that high demand from the connected car industry, advancements in wireless communication standards, and pre-5G and 5G technologies are driving industry expansion. The study provides a detailed assessment of key market dynamics, drivers and restraints, revenue forecasts by region, and market share and competitive analysis.

Frost & Sullivan expects Asia Pacific to be the largest and fastest growing region for RF T&M vendors, with estimated revenues of $1.99 billion by 2023.

"Asia has become the manufacturing hub of the world and holds special importance for vendors, but it is also making inroads in research and development (R&D), which will further increase its importance going forward," explained Jessy Cavazos, Measurement & Instrumentation Industry Director at Frost & Sullivan. "This region will also create significant opportunities for T&M vendors in the aerospace & defense industry."

Meanwhile, North America andEuropewill benefit from wireless technologies. Growth in these regions will be bolstered by R&D activity around new wireless communications standards, the connected car and Industrial Internet of Things (IIoT). With lower activities in emerging regions, the Latin America, Middle East and Africa segment represents only about 5% of the total market revenues.

For further information on this analysis, please visit: http://frost.ly/28b

The five major growth opportunities in the RF T&M market, that are expected to generate over $30 billion in new revenues by 2023, include:

"Market development is being impinged upon by RF instruments having a high price tag, especially high-end test equipment used in R&D applications," noted Cavazos. "Companies across industry verticals are facing customer and competitor pressures to reduce prices, which is spreading throughout the value chain."

Radio Frequency (RF) Test and Measurement (T&M) Market, Forecast to 2023 is part of Frost & Sullivan's global Test & Measurement Growth Partnership Service program.

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Radio Frequency (RF) Test and Measurement (T&M) Market, Forecast to 2023
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SOURCE Frost & Sullivan