Test and Measurement Market - Forecast(2020 - 2025)
International Organization of Motor Vehicles Manufacturers (OICA) has come up with statistics that 97.30 million cars and commercial vehicles were produced globally in 2017, which was 2.36% more than the previous year[1]. Now, this production of new vehicles requires test and measurement during the quality assurance stage, which is leading to a myriad of opportunities in test and measurement market which had a market size of $25 billion as of 2018. Furthermore, the analyst estimates the market to grow with a global CAGR of 4% during the forecast period of 2019-2025. Industrialization is proliferating in Asian countries at a rapid pace now. China has emerged as one of the leading manufacturers of consumers’ electronics like mobile phones, tablet, laptops, and some others. Furthermore, manufacturing industries that require test and measurement are booming in India, Taiwan, Indonesia, and a few other countries in the APAC region are perpetually developing. This make