Portland,OR, May 20, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global wireless testing market generated $10.48 billion in 2019, and is projected to generate $16.80 billion by 2028, witnessing a CAGR of 6.9% from 2021 to 2028. The report offers a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.
Rise in adoption of smart electronic appliances, advancement in wireless technologies, and increase in usage of smart devices drive the growth of the global wireless testing market. However, high cost and lack of skilled workforce hinder the market growth. On the other hand, surge in adoption of internet of things (IoT) technologies create new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities of equipment used for wireless testing hindered due to lockdown imposed in many countries. Moreover, supply chain disruptions occurred.
- Partial or complete discontinuity in operations in various application industries such as automotive, consumer electronics, and energy & power reduced the demand for wireless testing. However, the demand is expected to grow during the post-lockdown.
The report offers detailed segmentation of the global wireless testing market based on offering, technology, application, and region.
Based on offering, the equipment segment held the highest market share, accounting for around three-fourths of the total share in 2020, and is projected to maintain its lead position during the forecast period. However, the services segment is projected to witness the largest CAGR of 8.0% from 2021 to 2028.
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Based on technology, the 4G/LTE segment accounted for the highest share in 2020, contributing to around one-fourth of the global wireless testing market, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is expected to portray the highest CAGR of 8.4% from 2021 to 2028.
Based on region, North America contributed to the largest market share in 2020, holding nearly two-fifths of the total share, and is projected to maintain its dominance in terms of revenue by 2027. However, the market across Asia-Pacific region is projected to manifest the fastest CAGR of 9.4% during the forecast period.
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Leading players of the global wireless testing market analyzed in the research include SGS Group, Bureau Veritas, Anritsu Corporation, Rohde & Schwarz GmbH & Co., DEKRA SE, TUV Rheinland, Intertek Group Plc., Electro Magnetic Test, Inc., Viavi Solutions Inc., and EXFO Inc.
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