With 8.6% CAGR, Wireless Testing Market Growth to Surpass USD 34.1 billion

Posted by edwardzmusso on April 1st, 2024

The wireless testing market is projected to grow from USD 22.6 billion in 2024 to USD 34.1 billion by 2029, registering a CAGR of 8.6% during the forecast period. Growing adoption of cloud computing and IoT technologies and increasing focus on deployment of 5G network will drive the market for wireless testing. The rising adoption of Wi-Fi 6 and Wi-Fi 6E is also expected to boost market growth in the coming years.

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The advent of high-speed Internet broadband, Wi-Fi, and Bluetooth has led to an increase in the use of smartphones worldwide. The increased penetration of smartphones has facilitated the use of smart home devices globally. The number of global smartphone users is expected to increase during the forecast period. Various testing, inspection, and certification companies offer wireless testing and international approvals for several wireless devices that use technologies such as Wi-Fi/WLAN, ZigBee, Bluetooth, radio-frequency identification (RFID), global system for mobile communication (GSM), general packet radio service (GPRS), and LTE.( Long Term Evolution) Wireless testing solutions can accelerate the time to market of wireless devices and enable quick R&D cycles for component manufacturers, network operators, and laboratories testing wireless devices and technologies without compromising the quality of the product. The growth of smart devices and components in smart cities has increased the adoption of IoT-based solutions. For instance, in a smart home setting, data generated by electronic household equipment, such as refrigerators, are exchanged and saved to provide user-customized services. Moreover, smart city initiatives are anticipated to drive the demand for IoT and connected devices.

Several companies are expanding their operations to new geographies and reducing operational expenses to increase profit margins. This has led businesses to adopt emerging technologies, such as cloud computing and IoT, to increase their profit margins by optimizing their operational processes. Cloud computing is proving to be highly efficient for geographically distributed businesses or those with several branches. Cloud-managed wireless networks can be configured even before their deployment to the actual sites. This results in design flexibility and cost benefits. Once deployed, these networks allow the in-house or outsourced testing service providers to monitor, test, and control services remotely and eliminate any issues. Remote monitoring of wireless networks eliminates the requirement for maintaining IT teams at geographically distributed locations, effectively reducing business operational costs. Moreover, the deployment of cloud-based wireless networks leads to several benefits in terms of mobility and compatibility with a wide range of devices.

The service segment is expected to hold the highest CAGR during the forecast period. In the Wireless testing market, service have been segmented into in-house and outsourced. The majority of the testing by companies is conducted in-house. The rest of the market is served by independent/third-party service providers whose primary business activities are providing wireless testing services, termed outsourced services. The outsourced wireless testing services are offered by several independent service providers whose primary business is to offer wireless testing services. The overall outsourced wireless testing services market is highly fragmented, with many small- and medium-sized players operating in it. For instance, Intertek provides laboratory testing services, which provide data that can be used to optimize the production processes.

Based on region, Asia Pacific is expected to hold the largest share in the wireless testing market in 2024.  The wireless testing market in Asia Pacific is projected to witness the highest growth during the forecast period due to the increasing population, rising disposable income, and growing penetration of advanced mobile devices in various countries of the region. Mobile data services are also growing rapidly in Asia Pacific, as mobile operators have reduced the prices of their services to extend them to maximum end users. Asia Pacific has become a world leader in digital platforms and has two of the most densely populated countries in the world. The adoption of smartphones or other wireless devices and services is high in the region. Therefore, the demand for wireless testing is projected to be the highest in this region.

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Major players operating in the wireless testing market are SGS Group (Switzerland), Bureau Veritas (France), Intertek (UK), DEKRA SE (Germany), Anritsu (Japan), Alifecom Technology (Taiwan), Keysight Technologies (US), Rohde & Schwarz (Germany), VIAVI Solutions (US), TÜV NORD Group (Germany), and among others. These companies have strong distribution networks and reliable manufacturing facilities across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of a robust market presence, reputable products and services, and strong business strategies. Furthermore, these companies have a significant market share, products with varied applications, broader geographical use cases, and a more extensive product footprint.