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The global Radio Test Set Market is estimated to be valued at US$ 1,438.54 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
A radio test set is an electronic instrument used to test radios, especially two-way radios. It is used to adjust and troubleshoot the equipment to ensure proper operation. It measures frequency accuracy, transmitted power, signal strength, modulation quality, deviation, and intermodulation. It is an essential equipment for proper functioning and maintenance of wireless communication services. It helps in measuring transmission power, frequency range, modulation quality and interference levels. The expanding telecommunication industry and growing demand for 5G rollout is creating high demand for radio test sets.
Market key trends:
One of the major trends in the radio test set market is the increasing deployment of 5G network infrastructure globally. 5G brings higher bandwidth and lower latency which necessitates more frequency testing capabilities. It requires radios to operate across wider frequency ranges including sub-6 GHz and mmWave bands. This is driving the demand for advanced radio test sets with wider frequency coverage and better modulation testing to test 5G new radio equipment. Market players are focusing on launching radio test sets compatible with 5G networks to capitalize on this opportunity. For instance, in 2021 Anritsu introduced the MT8820C Radio Communication Test Station to cover 5G new radio non-standalone and standalone modes.
Porter’s Analysis:
Threat of new entrants: Medium, the industry requires huge capital investment and presence of huge competitors makes it difficult for new players.
Bargaining power of buyers: High, buyers have multiple options available from different vendors and opt for most cost-effective options.
Bargaining power of suppliers: Medium, presence of differentiated components and technologies from various suppliers provides buyers with options.
Threat of new substitutes: Low, radio test sets have specialized use and no close substitutes are available currently.
Competitive rivalry: High, the market has presence of global and regional vendors providing innovative products and aftersales support.
Key Takeaways:
The global Radio Test Set market is expected to witness high growth, exhibiting a CAGR of 6.2% over the forecast period, due to increasing investments in communication technologies and rollout of 5G networks.
Regional Analysis
Asia Pacific region is expected to dominate the global radio test set market during the forecast period attributed to growing investments in telecommunication infrastructure, especially in China and India. North America region is also expected to register significant growth due to the presence of leading vendors and upgrade of existing communication networks.
Key Players
Key players operating in the radio test set market are Anritsu, Rohde & Schwarz, Keysight Technologies, LGS Incorporated, Good Will Instrument, and Giga-tronics Incorporated. Anritsu Corporation offers radio test sets for various wireless technologies including 5G, LTE, 3G, and Bluetooth. Rohde & Schwarz provides signal generators and analyzers for testing radio communication instruments.
