Global EMC Testing Market Expected to be Worth $3.46 Billion by 2027
According to Stratistics MRC, the Global Electromagnetic Compatibility (EMC) Testing Market is accounted for $1.97 billion in 2019. The report title "Electromagnetic Compatibility (EMC) Testing - Global Market Outlook (2019-2027)" estimates that the EMC testing market to reach $3.46 billion by 2027 growing at a CAGR of 7.3% during the forecast period.
Some of the key players in the Electromagnetic Compatibility (EMC) Testing Market include Keysight Technologies, Ametek CTS, TUV Rheinland, Bureau Veritas, Thermo Fisher Scientific, Eurofins Scientific, Yokogawa Electric, TUV Nord Group, HV Technologies, MCS Test Equipment, Rohde & Schwarz, SGS Group, Intertek, Cetecom- Rwtüv GmbH, TUV SUD, Dekra Se, NTS, and Fortive.
Some of the key factors propelling the growth of the market are increasing mobile data requirements, technological advancement, and the rising number of mobile subscribers. However, the high cost required for the testing process is the restraining factor for the growth of the market.
Electromagnetic compatibility (EMC) testing is a testing process done to ensure that an electronic or electrical device does not emit a large amount of electromagnetic interference and that the device continues to function as required in the presence of several electromagnetic phenomena.
By end-user, the consumer appliances and electronics segment is expected to grow at a significant market share during the forecast period as these are an interconnection of various components. Based on geography, Asia Pacific is anticipated to hold considerable market share during the forecast period owing to the demand for efficient equipment from several industries present in the region.
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