Renting & Leasing Test and Measurement Equipment Market 2020 Trends, Research, Analysis & Review Forecast 2027 |

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The global renting & leasing test and measurement equipment market is estimated to reach USD 9.43 billion by 2026, registering a CAGR of 5.4% during the forecast period of 2020–2026.

Market Highlights

The global renting and leasing test and measurement equipment market is expected to register a CAGR of 5.4% during the forecast period of 2020–2026.

The organic market sides working in the worldwide market following a more essential way to deal with buying or rent the equipment. It becomes trying for the organizations in the test and measurement equipment market to expand their item base as clients become mindful of the advantages of leasing and renting administrations. The advantage of these administrations prior was noticed for momentary prerequisites; nonetheless, the current situation and future patterns are relied upon to change as the clients go to rental trained professionals, particularly in the media transmission and IT industry. The current spending on renting and leasing administrations represents almost 32% of the absolute spending in the test and measurement market and is relied upon to reach 57% by 2026.

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Key Segments

The global renting leasing test and measurement equipment market has been segmented based on product, component, application, and region.

By product, the global Renting Leasing Test and Measurement Equipment Market Analysis has been segmented into general purpose test equipment, wireless test equipment, semiconductor test equipment, and RF test chambers. The general-purpose test equipment is further segmented into oscilloscopes, signal generators, analyzers, meters, thermal imagers, bit error ration testers (BERT), and others. The wireless test equipment market is further segmented into logic analyzers, spectrum analyzers, network analyzers, and network simulators.

By component, the global renting leasing test and measurement equipment market has been segmented into connectors, cable assemblies, and value-added accessories.

By application, the global renting leasing test and measurement equipment market has been segmented into aerospace defense, healthcare medical equipment, telecommunication, electronics semiconductor, industrial manufacturing, automotive, and others.

By region, the renting leasing test and measurement equipment market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world

By product, the global renting leasing test and measurement equipment market has been segmented into general-purpose test equipment, wireless test equipment, semiconductor test equipment, and RF test chambers. The general-purpose test equipment is further segmented into oscilloscopes, signal generators, analyzers, meters, thermal imagers, bit error ration testers (BERT), and others. The wireless test equipment market is further segmented into logic analyzers, spectrum analyzers, network analyzers, and network simulators. Among these, the general-purpose test equipment segment accounted for the largest market share in 2019 and is expected to register a CAGR of 4.6% during the forecast period. The wireless test equipment segment was the second-largest market in 2019 to exhibit a CAGR of 5.4%.

By component, the global renting leasing test and measurement equipment market has been segmented into connectors, cable assemblies, and value-added accessories. Connectors held the largest market share in 2019. Connectors are either plugs or cables that connect two or more systems to transmit data or power between different systems or devices. The connectors are shock and vibration resistant and offer strong shielding against adverse environments. The connectors are used in navigation systems and measurement equipment, including thermocouple sensors, flow sensors, current sensors, voltage sensors, and pressure sensors.

By application, the global renting leasing test and measurement equipment market has been segmented into aerospace defense, healthcare medical equipment, telecommunication, electronics semiconductor, industrial manufacturing, automotive, and others. The aerospace defense segment is one of the prominent end users of testing and measurement equipment. Increasing government investment in military and defense departments also creates the demand for new and improved ammunition and machinery. However, the increasing demand for advanced testing solutions and growing complexity in aviation and defense systems create challenges for testing, validation, and verification of these equipment, which further creates the need for reliable and scalable testing solutions.

By region, the renting leasing test and measurement equipment market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America holds the largest share in the renting leasing test and measurement equipment market due to the presence of key players such as National Instruments, Keysight Technologies, and Teledyne Technologies Incorporated. These companies are market leaders and continuously making significant investments towards technological advancement. Additionally, the growing development in the IT and telecom industry demands accurate testing of equipment, which is fueling the growth of renting leasing test and measurement equipment market in North America. The growing need for increased operational efficiency, enhanced safety, and new technological breakthrough in the aerospace industry is expected to drive the demand for the regional market.

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Key Players

Some of the prominent players in the global renting leasing test and measurement equipment market. These include Transcat Inc, Keysight Technologies, Viavi, Tektronix, General Electric, Rhode Schwarz, Anritsu Corporation, Exfo Inc, Megger, Bird, Yokogawa Electric, Vanguard, National Instruments, Siemens AG, and Fluke Networks.

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