$ 1.42 Billion Development in International Basic Function Take a look at Gear (GPTE) Market in 2021-2025 | Rising demand from end-user industries to extend development

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General Purpose Test Equipment (GPTE) Market: Growing demand from the end user industry to drive growth

Industrial operators around the world are increasingly using automation solutions to increase efficiency and reduce workload. Machines used in end-user industries such as food and beverage, manufacturing, automotive, and energy and utilities require continuous component testing to avoid production downtime. This increases the demand for GTPE. For the forecast period, it is expected that these industries will show healthy growth and offer significant opportunities for market participants.

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According to Technavio, the increasing adoption of autonomous vehicles and electric vehicles will have a positive impact on the market and contribute significantly to its growth over the forecast period. This research report also analyzes other key trends and market drivers that will influence market growth in 2021-2025 period.

GPTE (General Purpose Test Equipment) market: Increasing acceptance of autonomous and electric vehicles

The increasing rigor of regulations regarding vehicle emissions and environmental safety has significantly increased the acceptance of autonomous vehicles and electric vehicles. This is evident in countries like the USA, China, Japanand European countries. The increasing acceptance of these vehicles is causing market providers to test devices to meet the growing demands of the automotive industry. Such developments are likely to fuel the growth of the global GTPE market over the forecast period.

“The increasing introduction of modular GPTE and the increasing number of smart connected devices will further stimulate market growth in the forecast period,” says a senior analyst at Technavio.

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General Purpose Test Equipment (GPTE) Market: Segmentation Analysis

This market research report divides General Purpose Test Equipment (GTPE) market by product (oscilloscope, spectrum analyzer, signal generator, network analyzer, and other products), end-user (communications, industrial, aerospace and defense, electronics and semiconductors, and others) and geography ( APAC, North America, Europe, South Americaand MEA).

The APAC region was the market leader for general purpose test equipment (GTPE) in 2021, followed by North America, Europe, South Americaor MEA. During the forecast period, APAC is expected to see the highest incremental growth in the region due to growth in the communications, industrial, medical devices, electronics and semiconductors, and aerospace and defense sectors.

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Some of the key issues covered in the report are:

Market challenges

Market leader

Market trends

Supplier landscape

  • Provider covered
  • Manufacturer classification
  • Market positioning of providers
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and consulting company. Her research and analysis focuses on emerging market trends and provides actionable insights that companies can use to identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s report library includes more than 17,000 reports and 800 technologies from 50 countries. Her customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s extensive coverage, research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions in changing market scenarios.

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Technavio research
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Website: www.technavio.com/
Report: www.technavio.com/report/general-purpose-test-equipment-market

SOURCE Technavio

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