Spectrum Analyzer Market Insight
The surge in demand for
wireless technology, especially in the lockdown period due to novel coronavirus
pandemic around the world, has affected the global Spectrum Analyzer Market 2020
imperatively. The current data on the market position of the spectrum analyzer
market by Market Research Future reveals that a growth rate of 8.2% has been
recorded for future expansion, which could be noted, post the pandemic. Many
factors are being scored behind the growth of the market, which has been
discussed below. The forecasted period of the market’s growth is calculated for
the years 2017–2026, and between these years, the market might achieve a
valuation of USD 1,758.1 million from USD 1,125.1 million, gained in 2017.
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Top Impacting Factors
The foremost driving factor
of spectrum analyzer market is escalating demand for wireless technology among
users worldwide. This factor has led to significant growth in spectrum analyzer
market. The other key driving factors of spectrum analyzer include the growing
adoption of portable and handheld spectrum analyzers, bandwidth and frequency
advancement as well as multitasking feature.
Currently, the high demand
for second-hand spectrum analyzer is one of the imperative growth factors of
impending spectrum analyzer market. Spectrum analyzers are one of the essential
instruments in any electronic laboratory. Spectrum analyzer serves numerous
purposes in signal analysis in a wide range of applications such as video,
audio, communications, radar, and many other designs. However, the price of spectrum
analyzers is a prohibitive factor for some users. Furthermore, the cost is
reduced owing to the introduction of new affordable oscilloscopes with built-in
spectrum analyzer capability. Such a might provide attractive opportunities for
the spectrum analyzer market to enter after the lockdown period imposed due to
coronavirus impact.
Nevertheless, the spectrum
analyzer market’s growth is refrained by the factor of the high cost of
specialized spectrum analyzers. The rising awareness about expenses linked to
spectrum analyzers among organizations of varied sizes has motivated scrutiny
from financial directors and controllers among different industries. This has
led companies to develop strategies in the field of managing the costs of
equipment. Several companies have started opting for various acquisition means,
including rental and leasing services for spectrum analyzers.
Leading Segments
The global spectrum
analyzer market is studied among the segments of type, frequency range, form
factor, and end-user.
In terms of type segment,
the market has included vector signal spectrum analyzer, swept tuned spectrum
analyzer, and real-time spectrum analyzer.
In terms of the frequency
range, the market has included less than 6 GHz, 6–18 GHz, and more than 18 GHz.
In terms of form factor
segment, the market has included portable and benchtop.
In terms of end-user
segment, the market has included aerospace & defence, automotive,
healthcare, IT & telecommunication, energy & utilities and
semiconductor & electronics.
Regional Front
North America, Europe,
Asia-Pacific, and rest of the world are the main regions under which the study
of global spectrum analyzer market has been conducted.
Asia-Pacific acquires the
largest market share in the global spectrum analyzer market. This growth is
attributed to the increasing penetration of spectrum analyzers in countries
such as India, China, and South Korea. Moreover, the higher demand for spectrum
analyzers among consumer electronics companies and automotive manufacturers is
serving the market grow. This has further led the companies to endow in the
development of high-frequency spectrum analyzers. Spectrum analyzers are used
for testing by electronic component manufacturers operating regionally and
globally.
On a similar note, widespread
acceptance of spectrum analyzers in North America owing to rise in investment
in aerospace & defence and IT & telecommunication industry are likely
to boost the market growth in the future time frame.
Top Industry Players
Competitive analysis and
profiles of the top industry players are Rohde & Schwarz GmbH & Co., Kg
(Germany), Keysight Technologies (US),
Anritsu Corporation (US), Fortive Corporation (US), Cobham PLC (UK),
National Instruments Corporation (US), Advantest Corporation, Yokogawa Electric
Corporation (Japan), Giga-Tronics Incorporated (US), and LP Technologies Inc
(US).
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