Spectrum Analyzer Market: Future Forecast Assessed on the basis of how the Market is Predicted to Grow

Spectrum analysis is also known as analyses of a gamut of frequencies or related quantities such as eigenvalues and energies among others. Spectrum analyzers are required for manufacturing, designing, engaging in field services/repairs of electrical devices to analyze the characteristics of a signal once it passes through system or device. Spectrum analyzers determine performance, detect problems and troubleshoot among others.

These devices are commonly used to measure modulation, noise and distortion. Measurement of the quality of modulation is imperative for ensuring proper functioning of the system and that the transmission of information is smooth and correct. Measurement of distortion is imperative for both the transmitter and receiver. Further, tests such as noise figure and signal-to-noise ratio (SNR) are important for characterizing the performance of a device and/or its contribution to overall system noise.

Factors such as the rising demand for wireless technology among the consumers across the globe which has aided in the increased usage of spectrum analyzers is one of the key factors pushing the demand for this market. Other key driving factors include, the rising adoption of portable and handheld spectrum analyzers, analyzers that are capable of multitasking, technological advancements in the field of spectrum analyzers, and bandwidth and frequency advancement.

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However, high demand for second hand spectrum analyzers is one of the major factors hindering the growth of the market at present. This is due to the high average price of such products due to which the end use industries prefer second hand spectrum analyzers in order to reduce the cost of production. Further, less availability of low cost spectrum analyzers with maximum features is another factor barring the growth of this industry.

However, widespread operation of LTE (Long Term Evolution) services is expected to boost the demand for spectrum analyzers in the future, thus posing to be a suitable opportunity for the growth of this market.

The market has been segmented on the basis of type into swept-tune spectrum analyzer, vector signal spectrum analyzer and real time spectrum analyzer. Swept tuned spectrum analyzers are further bifurcated into RF tuning method and super heterodyne. Additionally, real time spectrum analyzers have been bifurcated into FFT (Fast Fourier Transform) spectrum analyzer and parallel filter spectrum analyzer. Swept-tuned spectrum analyzer is expected to dominate this market owing to the increasing usage of the same due to maximum frequency coverage. Further, swept-tuned spectrum analyzers are traditional types of spectrum analyzers and they find application in telecommunication, A&D and medical sector among others.

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Benchtop spectrum analyzers held the major market share in terms of form factor compared to handheld spectrum analyzers and portable spectrum analyzers. Benchtop spectrum analyzers are the older form of spectrum analyzing equipments which are used across laboratories and production areas where it can be plugged into an AC power outlet. This type provides the best performance compared to its counter-parts and is used across several end use industries such as defense, and telecommunication among others.

The market has also been classified on the basis of end use into automotive, defense and aerospace, IT and telecommunications, medical and healthcare, and semiconductors and electronics among others. Medical and healthcare dominated the global spectrum analyzers market owing to the advent of several new and advanced devices such as EEG and ECG among others that are used measure several medical parameters and these products need to be calibrated and tested using spectrum analyzers before they are handed over to the end users.

North America accounted for the major market share and is expected to retain market dominance throughout the forecast period while Asia Pacific is expected to witness the fastest growth during the forecast period. Increasing R&D activities in the field of spectrum analyzers in terms of new areas for application is one of the major factors fuelling the demand for spectrum analyzers in Asia Pacific.

The global spectrum analyzers market is marked by some intense competition by the major players operating in this field. Frequent mergers and acquisitions, joint ventures and partnerships and product innovations are some of the key strategies adopted by these players in order to sustain in this market. Keysight Technologies, Fortive Corporation, Cobham Plc, Anritsu Corporation and Advantest Corporation are some of the major players operating in this market.