United States, Rockville, MD, June 07, 2022 (GLOBE NEWSWIRE) -- The global wireless network test equipment market is expected to reach US$ 9.1 Billion by the end of the 2022-2032 forecast period, growing at a CAGR of 7.6%, concludes a recently published report by Fact.MR. As of 2022, the market is poised to reach US$ 4.36 Billion, yielding a dollar opportunity worth US$ 4.7 Billion throughout the forthcoming decade. Advancements in the telecommunication sector have pushed sales to new heights.
Demand expanded significantly from 2015 to 2021, registering a growth rate of 8.5% to be valued at US$ 4.04 Billion. Government initiatives for promoting digitization, the development of advanced infrastructure, and an increase in population are expected to fuel the global wireless network test equipment market. Government initiatives across several countries like India for free Wi-Fi services are estimated to create significant opportunities for the market during the forecast period.
The increase in the adoption of smart electronic appliances further fosters the demand for wireless testing equipment. Growing adoption of long-term evolution and advanced technologies globally are expected to fuel the demand for wireless network testing products during the forecast period. These trends are likely to provide traction to the wireless network test equipment market.
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Key Takeaways from the Market Study
- Global wireless network test equipment market to flourish 1.07x from 2022 to 2032
- China to be the fastest-growing market, registering a CAGR of 6.9% across the decade
- South Korea, U.K & Japan are likely to yield $ opportunities worth US$ 317.4 Million, US$ 383.2 Million and US$ 513.9 Million respectively
- By network technology, 5G network to register maximum wireless network test equipment usage, growing at a 7.1% CAGR
- Enterprises to emerge as the top end-user category, growing at a rate of 7.2% through 2032
Competitive Landscape
The global market for wireless network test equipment is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out, specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage up-gradation to gain an edge over other competitors in the market. Some recent developments in the market are:
- In April 2021 – Infovista, the global leader in network lifecycle automation, announced that it has completed the acquisition of Empirix, a Thoma Bravo portfolio company. The combined company becomes the only independent software vendor providing both Communications Service Providers (CSPs) and Enterprises with a carrier-grade, cloud-native network lifecycle automation platform designed for the 5G era.
- In May 2022 - Keysight Technologies, Inc. a leading technology company that delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world, announced that Celona has selected Keysight's Open RAN Architect (KORA) solution portfolio to validate the quality and reliability of 5G private network deployments for enterprises.
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global wireless network test equipment market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Equipment Type (Drive Test Equipment, Crowdsourcing Equipment, Monitoring Equipment, OSS with Geolocation Equipment, SON Testing Equipment, Site Testing Equipment) by Network Technology (2G/3G/4G, 5G) by End-user (Telecommunication Service Providers, Enterprises) and across five major regions (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa).
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