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.
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.
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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.
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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