$ 1.42 Billion Growth in Global General Purpose Test Equipment (GPTE) Market 2021-2025 | Growing Demand from End-user Industries to Boost Growth | Technavio - PRNewswire

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General Purpose Test Equipment (GPTE) Market: Growing demand from end-user industries to drive growth

Industrial operators across the world are increasingly adopting automation solutions to enhance efficiency and reduce the expenditure on labor. Machines used in end-user industries such as food and beverage, manufacturing, automotive, and energy and utilities require continuous testing of components to prevent downtimes in production. This is increasing the demand for GTPE. During the forecast period, these industries are expected to have healthy growth and are expected to provide significant opportunities for market players.

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As per Technavio, the increasing adoption of autonomous and electric vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.

General Purpose Test Equipment (GPTE) Market: Increasing Adoption of Autonomous and Electric Vehicles

The rising stringency of regulations pertaining to vehicular emissions and environmental safety has significantly increased the adoption of autonomous and electric vehicles. This is evident in countries such as the US, China, Japan, and European countries. The increasing adoption of these vehicles is driving market vendors to testing equipment to meet the growing demands in the automotive industry. Such developments are expected to foster the growth of the global GTPE market during the forecast period.

"Growing adoption of modular GPTE and increase in the number of smart connected devices will further boost market growth during the forecast period," says a senior analyst at Technavio.

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General Purpose Test Equipment (GPTE) Market: Segmentation Analysis

This market research report segments the general purpose test equipment (GTPE) market by Product (Oscilloscope, Spectrum analyzer, Signal generator, Network analyzer, and Other products), End-user (Communication, Industrial, Aerospace and defense, Electronics and semiconductor, and Others), and Geography (APAC, North America, Europe, South America, and MEA).

The APAC region led the general purpose test equipment (GTPE) market in 2021, followed by North America, Europe, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the growth of communication, industrial, medical devices, electronics and semiconductors, and aerospace and defense sectors in the region.

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Some of the key topics covered in the report include:

Market Challenges

Market Drivers

Market Trends

Vendor Landscape

Vendors covered
Vendor classification
Market positioning of vendors
Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/
Report: www.technavio.com/report/general-purpose-test-equipment-market

SOURCE Technavio