$ 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:
- Provider covered
- Manufacturer classification
- Market positioning of providers
- Competitive scenario
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