Chicago, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Japan is home to some of the world's largest manufacturing industries, including electronics, automobiles, and engineering goods. Remarkable technological advancements have enticed Foreign Direct Investments (FDIs) into the country's industrial sector. While the pandemic did negatively impact Japan's economic landscape, the government refrained from enforcing a complete lockdown and instead promoted remote work to facilitate social distancing. The Japanese government swiftly implemented corrective measures to ensure the rapid recovery of the economy. Japan market to grow at 2.2% in test and measurement equipment market.
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The primary areas of focus for economic revival are expected to center around consumer goods, aerospace, IT and telecom, automotive, medical and life sciences, and industrial manufacturing sectors. Across these sectors, various types of test and measurement equipment play a pivotal role, given the increasing demand for high-quality and energy-efficient devices. Furthermore, the nationwide adoption of 5G networks is anticipated to create growth opportunities for the test and measurement equipment market in the IT and telecom sector, spanning technology verification, validation, deployment, and monetization.
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Japan boasts several prominent test and measurement equipment companies, including Yokogawa Electric, Mitsubishi Heavy Industries, Hioki E.E. Corporation, Advantest, and Anritsu. According to the International Trade Administration and the US Department of Commerce, Japan ranks as the fourth-largest global market for semiconductor manufacturing equipment. Notably, in 2021, the Semiconductor Equipment Association of Japan reported that Japan's sales of semiconductor manufacturing equipment reached an impressive USD 33 billion.
In November 2022, Leader Electronics showcased a range of test and measurement equipment and services at inter BEE 2020 in Yokogawa, Japan. Leader Electronics Corporation enjoys a global reputation for designing and producing exceptionally reliable, practical, and robust test and measurement equipment.
