LONDON, Feb. 14, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Wireless Testing Global Market Report 2024, the wireless testing market is experiencing robust growth, reflecting a trend of significant expansion in recent years. The wireless testing market size is poised to increase from $13.22 billion in 2023 to $14.24 billion in 2024, showcasing a compound annual growth rate (CAGR) of 7.7%. The wireless testing market size is expected to see strong growth in the next few years. It will grow to $19.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
Growth Potential Driven by Smartphone Adoption
The wireless testing market is primed for substantial growth, driven by the increasing adoption of smartphones and smart wearables worldwide. With billions of smartphone users globally, the demand for comprehensive testing solutions continues to surge. The rapid evolution of wireless technologies necessitates robust testing infrastructure to ensure a positive user experience and meet quality of service expectations. As per Oberlo and Demand Sage, the global smartphone user base is projected to reach 5.14 billion by 2028, further fueling market growth.
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Focus on Automated Solutions for Next-Gen Technologies
Companies operating in the wireless testing market are increasingly investing in automated testing capabilities for advanced technologies such as 5G and 6G. Automated testing streamlines the testing process by leveraging software tools, reducing manual intervention, and enhancing efficiency. For instance, VIAVI Solutions Inc. recently introduced NITRO Wireless, an integrated testing platform offering end-to-end testing for 5G and 6G technologies. Leveraging AI/ML, NITRO Wireless automates network operations, addressing performance, quality of service, security, and energy consumption challenges.
Segmentation and Regional Insights
The Wireless Testing Global Market Report 2024 segments the market based on –
1) By Offering: Equipment, Services
2) By Connectivity Technology: Wi-Fi, Bluetooth, 2G/3G, 4G/LTE, 5G
3) By Application: Consumer Electronics, Automotive, IT and Telecommunication, Energy and Power, Medical Devices, Aerospace and Defense, Industrial, Other Applications
Equipment and services constitute the primary segments, with equipment accounting for the largest wireless testing market share in 2023. However, the services segment is expected to witness rapid growth, with a projected CAGR of 9.2% during 2023-2028. Regionally, North America emerged as the largest market in 2023, followed by Asia Pacific. Both regions are anticipated to experience significant growth, with CAGRs of 9.3% and 9.9%, respectively.
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Industry players looking to capitalize on the burgeoning wireless testing market can leverage insights provided in the Wireless Testing Global Market Report 2024. By understanding wireless testing market dynamics, segment trends, and regional forecasts, businesses can strategically position themselves to seize emerging opportunities, drive innovation, and enhance competitiveness.
Wireless Testing Global Market Report 2024 by The Business Research Company provides insights on the wireless testing market size, wireless testing market segments, wireless testing market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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