Research And Markets, a market and industry research corporation, released a new report concerning the global wireless test equipment market and it's strong growth that is predicted to come in the next few years. According to PRNewswire, the global market for Wireless Test Equipment, valued at US$5.8 billion in 2022, is expected to reach an estimated size of US$10.2 billion by 2030, driven by a notable compound annual growth rate (CAGR) of 7.3% during the analysis period of 2022-2030. The report also projects that the Wireless Infrastructure Test Equipment segment will lead this expansion with a projected CAGR of 8.8%.
The exponential growth of the wireless test equipment market is a significant development. As PRNewswire reports, the market was valued at US$5.8 billion in 2022 and is expected to grow exponentially, reaching around US$10.2 billion by 2030. This growth is influenced by a robust compound annual growth rate (CAGR) of 7.3% during the analysis period of 2022-2030. Importantly, the Wireless Infrastructure Test Equipment segment is expected to lead this expansion with a projected CAGR of 8.8%.
The United States and China are among the top players in the wireless test equipment market, as highlighted in PRNewswire's article about the Research and Markets report. Currently, the U.S. market is valued at $1.6 billion. China, with the world's second-largest economy, is expected to grow at a CAGR of 9.4%, reaching a projected market size of US$2.2 billion by 2030, driven by the expansion of wireless infrastructure. Both of these markets are greatly affected and driven by the growth in the wireless test equipment market and industry.
Research and Markets, the source of the report, is the world's largest market research store. According to their website about us page, they provide data and insight for over 450 clients and 800 different industries and markets. Founded in 2002, Research and Markets is headquartered in Dublin, Ireland, next to the Guinness Brewery. They offer an extremely diverse range of data and information, covering industries from automotive to telecommunications to zoology and everything in between.