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Test and Measurement Equipment Market worth $47.01 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Aug. 28, 2024 /PRNewswire/ — The test and measurement equipment market are expected to reach USD 47.01 billion by 2029 from USD 38.91 billion in 2024, at a CAGR of 3.9% during the 2024-2029 period according to a new report by MarketsandMarkets™. Various companies are investing in test and measurement equipment which gives an opportunity for growth in the test and measurement equipment market. The test and measurement equipment market are continuously developing, with the presence of multiple players. Currently, the Asia Pacific region is contributing significantly to the growth of the test and measurement equipment market. Similarly, North America, Europe, and RoW regions are expected to be the growing market for the forecasted period.

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Browse in-depth TOC on “Test and Measurement Equipment Market” 
186 – Tables
64 – Figures
254 – Pages

Test and Measurement Equipment Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 38.91 billion

Estimated Value by 2029

$ 47.01 billion

Growth Rate

Poised to grow at a CAGR of 3.9%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Automated Test Equipment, Product Type, Service Type, Vertical and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Keeping pace with rapid technological advancements and managing technological obsolescence

Key Market Opportunities

Rising demand for high-speed and high-bandwidth testing

Key Market Drivers

Stringent government rules and regulations pertaining to product safety and environmental protection

The rising application of Al and machine learning in test and measurement equipment is increasing the market’s demand.

Artificial intelligence and machine learning are revolutionizing the manner in which data analysis and testing is done as well as methods of equipment maintenance to optimality within test and measurement field operations.

Artificial intelligence and machine learning improve business performance in terms of data analysis as it helps in better and faster analysis of big data. Due to the sophisticated computations that are incorporated into these technologies, it is capable of spotting minute variations that might be non-detectable through conventional approaches and, hence, better decisions and outcomes. Artificial intelligence and machine learning based predictive maintenance can identify the likely equipment failure before it takes place, and so reduces the time a machine is out of service for maintenance.

Artificial intelligence-based test automation helps in the reduction in the overall cycle time, brings down the chances of errors. The use of artificial intelligence and machine learning in the test and measurement equipment is opening up huge opportunities for the firm that deal in the development and provision of solutions which has Al integration. Since industries continuously aspire for higher level and time-saving testing procedures, there exists a growing market for highly developed test and measurement equipment with integration of these technologies. The emergence of such change has many effects, not only creating breakthrough technologies but also providing fresh opportunities for business development and being a source of competitive advantage in the test and measurement sector.

Product type segment to have the higher market share compared to service type segment of test and measurement equipment market during the forecast period.

The test and equipment market, based on product type, has been segmented into general-purpose test equipment and mechanical test equipment.

This sub-segment provides an in-depth view of the market based on product type. The market for test and measurement equipment by product types includes oscilloscopes, signal generators, spectrometers, and network analyzers. Test and measurement equipment is essential for constructing or building industrial tools, components, and machinery, as well as for the smooth functioning of wireless internet connectivity, desktop computers, aircraft, and electrical infrastructure.

Among all types considered under the general-purpose test equipment segment automated test equipment, oscilloscopes, and modular instruments are projected to hold a major market share between 2024 and 2029. Additionally, modular instruments are also projected to witness the highest CAGR in the market under study during the forecast period. The increased production and consumption of automobiles, rapid advancement of 5G technology in the IT & telecommunication sectors and enhanced adoption of smart solutions by industry players are the key reasons behind the growth of the market.

NDT is an important quality control tool in manufacturing as it enables the early detection of surface and subsurface defects in finished and work-in- progress (WIP) goods. NDT techniques and services have become essential in industries to maintain product quality standards and customer perception toward a brand. Regulatory policies imposed by various governments also help increase the use of NDT for the early detection of defects in industries such as oil & gas, power generation, and aerospace, where equipment failure could lead to major disasters.

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Test and measurement equipment market for the Asia Pacific region is projected to have the highest market size and the fastest growing market between 2024 and 2029 forecast.

Market size and growth rate of the test and measurement equipment industry in the Asia Pacific region is anticipated to be the highest between the years 2024 and 2029 of the forecast period due to the economic growth of the countries such as China, Japan, India, South Korea and others. The Asia Pacific region comprises of Japan, China, India, South Korea, Australia, Singapore, India and other Asia Pacific countries. The increasing demand for test and measurement equipment is fueled by the rising adoption of electronic devices such as smartphones, wearables etc. and evolving standards for next-generation telecommunications devices. Additionally, supportive regulatory policies for new semiconductor technologies in developed regions are attracting foreign companies to expand their presence in Asia Pacific. Some Asia Pacific based test and measurement equipment players are Yokogawa Electric Corporation (Japan), Advantest Corporation (Japan), and Anritsu (Japan). The increasing demand for automated electronic products acts as an opportunity to grow the test and measurement equipment market in Asia Pacific. For instance, United Nations Development Program on August 2022 said that many countries in the Asia Pacific region have already started focusing on e-mobility and decarbonization in the transportation sector as a part of their NDC (Nationally Determined Contributions) implementation processes. The market in the region is competitive due to the presence of various local players offering specialized solutions. Furthermore, increasing penetration of wireless communication standards is boosting its demand in the IT & telecommunications sector.

Key Players

The companies of test and measurement equipment companies include Keysight Technologies (US), Fortive (US), AMETEK.Inc. (US), Rohde & Schwarz (Germany), NATIONAL INSTRUMENTS CORP. (US), Teledyne Technologies (US), VIAVI Solutions Inc. (US), Anritsu (Japan), Yokogawa Electric Corporation (Japan), Advantest Corporation (Japan), EXFO Inc. (Canada), Fujian Lilliput Optoelectronics Technology Co., Ltd (OWON) (China), IKM Instrutek (Norway), Uni-Trend Technology (China) Co., Ltd. (China), Particle Measuring Systems is a Spectris Company (US), Mextech Technologies India Private Limited (India), RIGOL TECHNOLOGIES, Co. LTD. (China), Good Will Instrument Co., Ltd. (Taiwan), ADLINK Technology Inc. (Taiwan), Leader Electronics Corporation (Japan), Crystal Instruments Corporation (US), Astronics Corporation (US), Vaunix Technology Corporation (US), DS Instruments (US), Saluki Technology (Taiwan), and Insplorion (Sweden).

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About MarketsandMarkets™

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Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

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Sapient Insights Group Reveals the HR Technology Solutions Ranking Highest in Vendor Satisfaction and User Experience for 2026

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Voice of the Customer badges awarded across 23 HR technology categories, based on 10,000 responses to Sapient’s 2026-2027 Annual HR Systems Survey

LAS VEGAS, Oct. 21, 2026 /PRNewswire-PRWeb/ — Sapient Insights Group today revealed the HR technology solutions ranking highest in vendor satisfaction and user experience in its 2026-2027 HR Systems Survey, now in its 29th year. This year Sapient awarded 630 Voice of the Customer badges across 23 technology categories and three company sizes. The rankings are based on responses from HR professionals representing 6,038 organizations.

Stacey Harris, Chief Research Officer and Managing Partner at Sapient Insights Group, presents the HR technology solutions ranking highest in vendor satisfaction and user experience for 2026.

To help buyers find the providers that fit their organization, the rankings are split into three company sizes: small, mid-sized, and enterprise. Respondents rate their satisfaction with their current solution in each technology category on a scale of 1 to 5, with attention to support and service. Sapient also ranks solutions on user experience. The top five solutions in each category and size earn a badge for vendor satisfaction and a badge for user experience. Three categories with smaller sample sizes (Time Labor Budgeting, Contingent Workforce Management, and Skills Management) are ranked in aggregate across all company sizes.

The survey continues to grow with the HR technology market. New this year, the survey adds Compliance Management to the HR Blueprint, application-level outcome questions, payment models for applications and AI, and finance applications covering Core, Expense, and Planning. It also asks more “why” questions throughout, so the results show not just what organizations are doing but the reasons behind their choices.

“Our Voice of the Customer rankings come straight from HR practitioners, with no sponsorship involved, which is why buyers and vendors both pay attention to them,” said Stacey Harris, chief research officer and managing partner at Sapient Insights Group. “This year we expanded the rankings to cover more of the HR technology landscape, which gives buyers a clearer view of how solutions perform for the specific work they need done, not just at the suite level. It also gives vendors honest feedback from the people who use their products every day.”

The highest-ranking solutions for vendor satisfaction are listed below. Rankings include point solutions, modules within technology suites, and in some cases service providers.

Payroll
Dayforce – Enterprise
isolved – Mid-sized
BambooHR – Small

HR Management
Dayforce – Enterprise
HiBob – Mid-sized
BambooHR – Small

Benefits
Businessolver – Enterprise
Fidelity NetBenefits/PSW – Mid-sized
HiBob – Small

HR Service Delivery: Portal
Dovetail – Enterprise
Workday Help – Mid-sized
isolved – Small

HR Service Delivery: Content Management
Dovetail – Enterprise
DocuSign – Mid-sized
isolved – Small

HR Service Delivery: Employee Help Desk
Dovetail – Enterprise
ServiceNow – Mid-sized
isolved – Small

HR Service Delivery: Engagement Survey
Dovetail – Enterprise
isolved – Mid-sized
BambooHR – Small

Time and Attendance
Darwinbox – Enterprise
isolved – Mid-sized
isolved – Small

Absence Management
Darwinbox – Enterprise
isolved – Mid-sized
BambooHR – Small

Leave Management
Darwinbox – Enterprise
isolved – Mid-sized
isolved – Small

Workforce Scheduling
Darwinbox – Enterprise
isolved – Mid-sized
isolved – Small

Labor Budgeting
isolved – All sizes

Learning
Cornerstone – Enterprise
OpenSesame – Mid-sized
isolved – Small

Recruiting
Indeed – Enterprise
Greenhouse – Mid-sized
BambooHR – Small

Onboarding
Dayforce – Enterprise
isolved (ApplicantPro) – Mid-sized
BambooHR – Small

Performance
Dayforce – Enterprise
HiBob – Mid-sized
BambooHR – Small

Compensation
Dayforce – Enterprise
Payscale Payfactors – Mid-sized
Insperity – Small

Succession
Dayforce – Enterprise
Microsoft Glint – Mid-sized
Paylocity – Small

Rewards and Recognition
Awardco – Enterprise
isolved – Mid-sized
Gifted – Small

Analytics
Visier – Enterprise
Visier – Mid-sized
UKG People Analytics – Small

AI/ML
Visier Vee – Enterprise
Grammarly – Mid-sized
Anthropic Claude – Small

Contingent Workforce Management
ServiceNow – All sizes

Skills Management HiBob – All sizes

The complete Voice of the Customer results, including the top five solutions for vendor satisfaction and user experience in every category and company size, are available here (https://sapientinsights.com/top-vendors/).

Sapient Insights Group will publish detailed survey findings and analysis in its annual HR Systems Research Report on November 6, 2026. The report will be available to purchase here (https://sapientinsights.com/shop/).

About the 2026-2027 HR Systems Survey

Now in its 29th year, Sapient’s HR Systems Survey is the longest-running, most comprehensive survey of the HR technology landscape, and the only fully objective, non-sponsored study of its kind. This year, HR professionals representing 6,038 organizations around the globe took part. The survey now covers 23 technology categories. The annual report includes an in-depth look at each category, along with current and future adoption rates, customer retention, replacement plans, and projected vendor growth.

For more information about the survey and report, schedule a call (https://calendly.com/summerorellano/schedule-a-call-with-sapient-insights-group).

About Sapient Insights Group Sapient Insights Group is a certified women-owned, privately-owned consulting, research, and advisory firm. The company works with organizations in the areas of HR and finance technology; HR strategy and transformation; leadership and culture; change management; talent management; mergers and acquisitions; and project management. The company’s HR Systems Survey is the HR profession’s most trusted source for objective data on the HR technology market and insights to guide buyer investments and vendor product development and marketing. For more information, visit www.sapientinsights.com.

Media Contact

Allison Williams, Sapient Insights Group, 1 4043044748, Info@sapientinsights.com, https://sapientinsights.com/

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SOURCE Sapient Insights Group

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SAJ Debuts First CEC-Approved Systems under Australia’s New Battery Standard at All Energy 2026

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EK70 HS5 and EK90 HS5 on show at Stand M143, with Australia’s Strongest Man at Stand E01 and the SAJ range across three distributor stands

MELBOURNE, Australia, Oct. 22, 2026 /PRNewswire/ — SAJ will exhibit at All Energy Australia 2026 at the Melbourne Convention and Exhibition Centre on 28–29 October. At Stand M143, installers can get their first hands-on look at the EK70 HS5 and EK90 HS5, the first products approved under Australia’s new SA TS 5398 standard.

At 2pm on Wednesday 28 October, DEKRA and CCS will present SAJ with the CEC certificates for the EK70 HS5 and EK90 HS5 on the stand, making SAJ the first brand listed under SA TS 5398. SAJ and DEKRA will also sign a strategic cooperation agreement covering safety, quality and compliance.

On the stand

EK70 HS5 – the all-in-one home energy system, combining hybrid inverter, LFP battery and whole-home backup in one unit. Modular 6, 7 and 9 kWh battery blocks stack to suit the household.EK90 HS5 – the premium tier, with 12,000-cycle cells, nine-layer safety protection, edge AI and a 15-year warranty.B2S and H2 – modular storage and the latest from SAJ’s residential range.elekeeper 5.0 – SAJ’s energy management app, with AI-assisted design, five-minute app commissioning and remote diagnosis.C&I – SAJ’s latest commercial and industrial solutions.

Live demonstrations of the EK70 HS5 and EK90 HS5, elekeeper 5.0 and the C&I range run at 10am on both days and again at 3pm on Wednesday.

Visitors can also play the claw machine on the stand throughout both days to win tennis balls signed by SAJ brand ambassador Alex de Minaur.

Beat Australia’s Strongest Man of 2026 at Stand E01

At Stand E01, near the hall entrance, visitors can take on Bradman Houston, Australia’s Strongest Man 2026, on the high striker. Bradman will be there each day. Anyone who beats his score wins!

Bradman recently partnered with SAJ and Sydney Solar & Electrical on a video series about lifting technique and fitness for solar installers, now on SAJ’s Instagram.

SAJ across the floor

The SAJ range is also on show with the company’s three national distribution partners, for stock, pricing and account conversations:

One Stop Warehouse – Stand EE113, with the EK90 HS5 on displaySupply Partners – Stand L135Tradezone – Stand S113

“All Energy is where the industry sees what’s next, and for SAJ that’s the EK70 HS5 and EK90 HS5,” said Alan Li, the Sales Director of SAJ Electric Australia. “Installers told us they want one integrated system that’s faster to install and that they can stand behind. Being the first brand listed under SA TS 5398 is the proof. We’d love installers to see both systems up close at Stand M143, and to try their luck against Bradman at E01 while they’re there.”

Visit SAJ

Where: Stand M143 (Beat the Strongest Man at Stand E01), Melbourne Convention and Exhibition CentreWhen: Wednesday 28 – Thursday 29 October 2026More information: au.saj-electric.com

About SAJ

Founded in Guangzhou in 2005, SAJ (Guangzhou Sanjing Electric Co., Ltd.) is a specialist in smart energy storage, delivering integrated solutions across solar generation, battery storage, energy management and EV charging for residential and commercial customers. SAJ has operated in Australia since 2013 and works with three national distribution partners – One Stop Warehouse, Supply Partners and Tradezone – backed by local technical support and warranty infrastructure.

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SOURCE SAJ

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Starvia Automotive Expands Used-Car Exports to Afghanistan and Iran

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GUANGZHOU, China, Oct. 22, 2026 /PRNewswire/ — Starvia Automotive has added Afghanistan and Iran to the destinations covered by its used-car export business, the company said on Oct. 21, as it focuses on used vehicles built to Chinese-market specifications. Buyers in both markets can now request an assessment of a specific vehicle before an order is confirmed.

What the review covers

For a used vehicle, the model name alone does not determine whether an export order can proceed. Year of manufacture, vehicle identity, condition, ownership documents and destination import rules are reviewed for each request, together with carrier acceptance, transit requirements and payment restrictions, according to the company.

Starvia cited two listings in its online used-car catalog as examples of the process: a 2023 Volkswagen Polo and a 2021 Volkswagen Tharu. The company said the listings show published stock and do not confirm that either unit is available or eligible for import into both markets. Stock, vehicle records and destination suitability are confirmed before a model is presented as an order option.

How an inquiry is handled

Inquiries are submitted through the company’s online form, which asks for destination city, importer details, preferred vehicle, quantity and purchasing timeframe. Starvia said the information is used to identify suitable vehicles, check documentation and seek a transport option, and that alternatives can be discussed if the first model does not meet the requirements.

An Arabic-language version of the site is available at https://www.starviaauto.com/ar?utm_source=prnews for buyers who prefer Arabic.

Any vehicle offer, freight estimate or shipment timing remains subject to commercial, regulatory and logistics checks, the company said. Buyers should obtain destination-side import approval before committing to a purchase.

About Starvia Automotive

Starvia Automotive is a Guangzhou-based exporter of new and used vehicles. Its online catalog lists used cars with vehicle history and inspection information for buyers in multiple regions.

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