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Wireless Testing Market Skyrockets to $33.40 Billion by 2031 Dominated by Tech Giants - Anritsu Corporation, Bureau Veritas and Dekra Certification B.V | The Insight Partners
The wireless testing market comprises a vast array of equipment and services that are expected to register strength during the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.
According to an exhaustive report by The Insight Partners, the Wireless Testing Market is experiencing significant growth, driven by increasing demand for high-speed data transmission and growing adoption of IoT devices. The market, valued at $16.28 Billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.4% during 2023–2031.
The global wireless testing market is observing substantial growth and is expected to maintain its upward trajectory in the foreseeable future. This growth can be accredited to numerous factors. One of the prime factors is the increasing focus on the deployment of 5G networks. 5G networks are designed to connect billions of IoT devices with higher density and efficiency than previous generations. As IoT devices operate in diverse environments, they are required to be thoroughly tested for different frequencies, data rates, and battery performance. Additionally, 5G networks must be resilient against cyberattacks, especially with the growing number of connected devices and mission-critical applications. Wireless testing ensures that a vast array of IoT sensors, traffic management systems , environmental monitoring devices, and other connected infrastructure communicate seamlessly with low power consumption and minimal interference. Security testing validates encryption, authentication protocols, and the overall security architecture of 5G networks. Thus, the demand for wireless testing is gaining immense traction owing to the increase in 5G deployment, which is likely to have a significant impact on the wireless testing market forecast in the upcoming years.
The complex nature of consumer electronics indicates the need to test these products for conformity, safety, and performance. EXFO, Intertek Group Plc, ThinkPalm, and SGS SA are a few of the companies offering testing products and services in North America . Healthcare infrastructure in North American countries is growing with the expanding presence of hospitals and laboratories. Moreover, a rising focus on the advancement of healthcare facilities with the integration of modern technologies and the Internet of Things (IoT) is expected to boost the need for wireless testing in this sector. UL, a leading global safety science company, increased the size of its facility in Fremont, California , in 2018 to meet the rising demand for testing and certification services from a variety of industry sectors. This multi-million-dollar expansion included the addition of a cutting-edge 39,000-square-foot building and one of the largest laboratories for electromagnetic compatibility (EMC) and wireless testing.
The fast-paced adoption of 5G technology elevates the requirement for testing to ensure device compatibility and performance. With the establishment of the highly automated Ericsson USA 5G Smart Factory, the US is supporting the development of the next generation of 5G infrastructure. This will allow Ericsson to ship existing and new radios and basebands from the factory to its key customers in the US, including open RAN-ready products. Idaho , in September 2022 , opened the first open-air 5G wireless test range dedicated to security testing, training, and technology development in the US.
The government of Canada recognizes the value of integrating cutting-edge wireless technology into the industrial sector. François- Philippe Champagne (Minister of Innovation, Science, and Industry) announced the plan to invest US$ 14 million in Redline Communications, which will help industries such as mining, utilities, and oil & gas increase the safety and productivity of their operations. Through this investment, Redline can design Industrial 5G, a 5G wireless. This investment will support the US$ 39.5 million project. Redline's equipment, for instance, will enable customers to monitor and operate AI-enabled machinery remotely, providing real-time communication and information sharing to increase worker safety and productivity. For more than 20 years, Redline has been a pioneer in network wireless communications and is the largest wireless technology company owned by Canadians. With this donation, 111 well-paying jobs will be created and maintained, along with ~13 co-ops.
In 2023, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe . Asia Pacific is expected to register the highest CAGR during the forecast period.
The Wireless Testing Market is characterized by the presence of several major players, including:
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
The market is shifting toward automation, and advanced technologies such as artificial intelligence and machine learning are gripping the market. Automation testing tools help simplify the process, narrow the scope of human error, and provide more profound insights into the actual performance of the device in time-sensitive environments. As wireless devices are used on a daily basis, they are highly prone to the risks of security violations. As a result, many companies and organizations conduct intensive security testing on their networks. Thus, they would lead the approach toward security that would further alter the landscape of the wireless testing market. Increased usage of connected devices and the necessity to ensure regulatory compliance and cybersecurity propel the wireless testing market growth. Thus, the growing adoption of 5G networks and smart wireless devices drives the global wireless testing market growth.
With projected growth to $33.40 Billion by 2031, the Wireless Testing Market represents a significant opportunity for component providers, system technology integrators, system manufacturers, investors, industry stakeholders, and others. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.
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