Market Size of Network Analyzers Industry
|2019 - 2029
|Market Size (2024)
|USD 563.77 Million
|Market Size (2029)
|USD 702.55 Million
|CAGR (2024 - 2029)
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Network Analyzer Market Analysis
The Network Analyzers Market size is estimated at USD 563.77 million in 2024, and is expected to reach USD 702.55 million by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).
A network analyzer, like most electronic instruments, requires periodic calibration; typically, this is performed once per year and is performed by the manufacturer or by a 3rd party in a calibration laboratory. The shift from 3G to LTE technology has generated a demand for test equipment across the communication sector, thereby boosting the network analyzers' market. Furthermore, the rapid acceleration of 5G technology development, which is partly driven by a rapidly increasing demand for newer IoT use cases, where higher reliability and lower latency is required, is gaining traction.
- The growing interest in precisive manufacturing is a major driving factor for the market. The precisive manufacturing has caught such huge attention due to the efforts put by the manufacturers to decrease the input cost, thus resulting in an increase in their profit margins. Furthermore, the semiconductor industry's growth is also augmenting precisive manufacturing, which is driving the studied market. According to the Semiconductor Industry Association (SIA), the semiconductor market size in 2020 accounted for USD 412.3 billion in 2019 and is expected to reach USD 460 billion in 2021.
- Various vendors offer network analyzers for the precisive manufacturer, such as semiconductors and mobile devices, to reduce their cost of testing. For instance, National Instrument offers a PXI Vector Network Analyzer that reduces tests' cost through fast, automated measurements. Its PXI Express module integrates advanced VNA measurement capabilities to complete PXI-based test systems incorporating precision DC, high-speed analog and digital measurements, among others.
- Further, a huge expansion has been noticed in the various end-users that are the prominent adopters of network analyzers. In recent years, electronic technologies in modern vehicles have achieved considerable growth both in quantity and complexity. As a result, the need for designing the in-vehicle networking to control electronic technologies is felt. Further, in the utility and energy sector, providers rely on wireless and fiber optic technologies, which helps them operate more efficiently by improving their operations and creating a safe environment. Thus, fiber optic and wireless technology need proper testing and measurement to ensure the appropriate result, thereby driving the network analyzer market.
- However, the network analyzer market is impacted by the ongoing COVID-19 pandemic, with respect to its adoption in various industries. Some industries, such as the telecommunications industry, witnessed an increase in demand for the adoption of network analyzers during the crisis, while several industries, such as automotive, aerospace, and defense are expected to witness a slowdown in demand due to a decrease in the production and manufacturing processes in these industries.
- Also, the increase in the number of Covid-19 testing across the globe has led to an increase in the adoption of testing devices and kits across medical institutions. For instance, Roche began shipping the first allotment of its Cobas SARS-CoV-2 Test for COVID-19 to a network of hospital and reference laboratories, in March 2020, across the United States to enable automated high-volume patient testing. The trends are expected to increase the demand for network analyzers during the crisis.