Top 10 Test and Measurement Equipment Companies | Outstanding Measure Tech

Tajammul Pangarkar
Tajammul Pangarkar

Updated · Jun 5, 2024

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Test and Measurement Equipment Market Overview

Test and measurement equipment are fundamental tools utilized across industries to ensure product quality and performance.

These instruments, including oscilloscopes, multimeters, and spectrum analyzers, enable precise measurement, analysis, and simulation of electrical signals and environmental conditions.

Widely applied in research, manufacturing, and field service, they play critical roles in product development, quality control, and maintenance activities.

Emerging trends such as wireless connectivity testing and Industry 4.0 integration underscore the evolving landscape of test equipment, emphasizing the importance of staying abreast of technological advancements.

In essence, test and measurement equipment serve as essential assets for industries striving for excellence in innovation, reliability, and efficiency.

Market Drivers

The global test and measurement equipment market thrives on technological advancements, driving the need for more advanced testing solutions to ensure product quality.

The rising adoption of electronic devices and IoT technologies, particularly in sectors like telecommunications, automotive, and consumer electronics, further fuels demand.

Additionally, stringent regulatory standards and quality control requirements compel companies to invest in testing equipment for compliance and certification purposes.

The expanding test equipment applications across research, manufacturing, and field service sectors also contribute to market growth.

Lastly, the integration of automation and data analytics into testing processes, driven by Industry 4.0, presents new avenues for innovation and efficiency, bolstering market expansion.

Market Size

The projected value of the Global Test and Measurement Equipment Market is forecasted to reach approximately USD 54.2 Billion by 2033, marking a growth from USD 33.9 Billion in 2023, with a CAGR of 4.8% anticipated during the forecast period spanning from 2024 to 2033.

List of Major Companies

These are the top 10 companies operating in the Test and Measurement Equipment Market:

Keysight

Company Overview

Establishment Year2014
HeadquarterSanta Rosa, California, U.S.
Key ManagementSatish Dhanasekaran (CEO)
Revenue (US$ Bn)$ 5.4 Billion (2023)
Headcount~ 14,900 (2023)
Websitehttp://keysight.com/

About Keysight

Keysight Technologies, a test and measurement equipment leader, recently expanded its market presence and technological offerings.

They introduced QuantumPro, a specialized design and simulation tool for quantum computers, and showcased advanced AI capabilities in 6G systems with InterDigital at Mobile World Congress 2024.

Additionally, Keysight proposed a cash offer for Spirent Communications PLC to bolster software-centric solutions and broaden market reach.

These initiatives underscore Keysight’s commitment to innovation and growth in the test and measurement industry.

Geographical Presence

Keysight Technologies, a global leader in electronic design and testing solutions, has a strong presence in key markets worldwide.

Headquartered in Santa Rosa, California, the company operates major offices and research facilities in North American tech hubs like Colorado and Texas.

In Europe, the Middle East, Africa (EMEA), and Asia Pacific (APAC), Keysight strategically locates itself in leading technology centers such as Germany, China, and Japan to serve diverse customer bases and drive innovation.

This global presence reflects Keysight’s dedication to delivering cutting-edge solutions and unmatched customer support across various industries globally.

Recent Developments

  • In February 2024, Keysight Technologies unveiled QuantumPro, the EDA industry’s pioneering integrated electromagnetic design and simulation tool designed specifically for the seamless development of quantum computers utilizing superconducting qubits.
  • In February 2024, Keysight Technologies partnered with InterDigital Inc. to demonstrate the integration of AI channel estimators into a physical layer through training and evaluation in an over-the-air demo.

Rohde-n-Schwarz

Company Overview

Establishment Year1933
HeadquarterMunich, Germany
Key ManagementChristian Leicher (CEO)
Revenue (US$ Bn)$ 2.7 B (2022)
Headcount~ 13,800  (2022)
Websitehttps://www.rohde-schwarz.com/

About Rohde & Schwarz

Rohde & Schwarz, a significant figure in test and measurement equipment, actively unveils innovative solutions and broadens its offerings.

At MWC 2024, the company showcased advanced technologies for 5G-Advanced and 6G, including their R&S CMX500 one-box tester for 5G RedCap, earning the GTI Award.

Teaming up with Qualcomm Technologies, they presented high-performance signal generation and analysis setups for the FR3 frequency range, reaffirming their commitment to cutting-edge wireless communications research.

At NAB Show 2024, Rohde & Schwarz also introduced broadcast and media technologies focused on sustainability and efficiency, underlining their dedication to technological advancement and industry support.

Geographical Presence

Rohde & Schwarz, headquartered in Munich, Germany, maintains a robust global presence with strategic locations across Europe, North America, Asia-Pacific, the Middle East, Africa, and Latin America.

With offices, subsidiaries, and production facilities strategically positioned in major cities and industrial hubs worldwide, the company delivers innovative test and measurement, broadcast and media, secure communications, cybersecurity, and monitoring and network testing solutions.

This extensive geographical footprint enables Rohde & Schwarz to provide localized support and expertise to customers while addressing the evolving needs of diverse industries such as telecommunications, aerospace, defense, and broadcasting.

Recent Developments

  • In April 2024, Rohde & Schwarz partnered with IPG Automotive to enable autonomous driving testing in labs, cutting costs for automotive radar Hardware-in-the-Loop integration.
  • In September 2023, Rohde & Schwarz contracted with BAE Systems for the Type 26 Batch 2 Global Combat Ship.

National-Instruments

Company Overview

Establishment Year1976
HeadquarterAustin, Texas, U.S.
Key ManagementMichael E. McGrath (Chairman)
Revenue (US$ Bn)$ 1.6 Billion (2022)
Headcount~ 7,000 (2022)
Websitehttp://ni.com/

About National Instruments

National Instruments Corporation (NI), a prominent player in test and measurement equipment, underwent significant developments in 2024.

Emerson Electric Co. acquired NI for $8.2 billion, aiming to bolster its automation capabilities and expand into lucrative sectors like semiconductors and aerospace.

NI also strengthened its technological portfolio through acquisitions, such as SET GmbH, focusing on power semiconductors and aerospace/defense test systems.

NI’s commitment to innovation is showcased through events like NI Connect, where it demonstrates advancements in test technologies, highlighting its dedication to providing cutting-edge solutions and maintaining industry leadership.

Geographical Presence

National Instruments Corporation, headquartered in Austin, Texas, maintains a global presence with offices and partners strategically located across North America, Europe, and the Asia-Pacific region.

In North America, additional offices are situated in key technological hubs like California and Massachusetts.

In Europe, the company has a strong foothold in cities such as Munich, Paris, and London while expanding its reach into emerging markets in Asia-Pacific, including China, Japan, and India, with offices in Shanghai, Tokyo, and Bangalore.

Leveraging a network of distributors and channel partners worldwide, National Instruments aims to empower engineers and scientists globally, fostering innovation and technological advancements.

Recent Development

  • In May 2023, NI announced its acquisition of SET GmbH, known for its expertise in developing aerospace and defense test systems and its groundbreaking work in testing the reliability of power semiconductors.
  • In April 2023, Emerson completed its acquisition of NI, formerly National Instruments, a provider of software-linked automated testing and measurement systems.

Fluke

Company Overview

Establishment Year1948
HeadquarterEverett, Washington, U.S.
Key ManagementJason Waxman (President)
Revenue (US$ Bn)$ 6.1 Billion (2022)
Headcount~ 18,000 (2022)
Websitehttp://www.fluke.com/

About Fluke

Fluke Corporation, a key player in test and measurement equipment, continuously innovates and broadens its product line.

Renowned for its durable and precise instruments, Fluke serves professionals across electrical, industrial, medical, and network troubleshooting sectors.

Recent introductions include advanced vibration analysis tools for predictive maintenance, like the PVA-1500HE2 I-V Curve Tracer, and updated power quality analyzers with LTE modules for remote access.

Embracing AI, Fluke aims to predict machine faults, addressing industry demands for automation and efficiency amid labor shortages.

These efforts highlight Fluke’s dedication to providing state-of-the-art solutions for optimizing operational performance.

Geographical Presence

Fluke Corporation, headquartered in Everett, Washington, has a strong global presence with subsidiaries, distributors, and service centers across North America, Europe, Asia-Pacific, Latin America, and the Middle East.

In North America, it serves clients in the US and Canada, while in Europe, it’s prominent in the UK, Germany, France, and Italy.

In the Asia-Pacific, it targets markets like China, Japan, India, and Southeast Asia through local partnerships.

Fluke also extends its reach to Latin America and the Middle East, collaborating with regional partners to meet industry demands. This extensive network ensures comprehensive support for its worldwide clientele.

Recent Development

  • In May 2024, Fluke unveiled the FEV150, its newest addition to the eMobility and Electric Vehicle Supply Equipment (EVSE) Test Solutions lineup.
  • In September 2023, Fluke Corporation acquired Solmetric, a California-based leader in high-precision solar test and measurement products.

Yokogawa-Electric

Company Overview

Establishment Year1915
HeadquarterTokyo, Japan
Key ManagementHitoshi Nara (CEO)
Revenue (US$ Bn)$ 4.0 B (2023)
Headcount~ 17,084 (2023)
Websitehttps://www.yokogawa.com/

About Yokogawa Electric

Yokogawa Electric Corporation, a leader in the test and measurement equipment sector, has recently made significant advancements.

The company has upgraded its CENTUM VP integrated production control system with the release of version R6.11.10, enhancing plant uptime and operational efficiency through improved redundancy and alarm management features.

Additionally, Yokogawa has acquired Adept Fluidyne Pvt. Ltd., an Indian manufacturer of magnetic flowmeters, to strengthen its product portfolio.

The company also announced a strategic partnership with Tsubame BHB to advance sustainable technologies​​.

Geographical Presence

Yokogawa Electric Corporation, headquartered in Tokyo, Japan, maintains a robust global presence across Asia, Europe, and the Americas.

With a strategic focus on key markets such as China, India, South Korea, Germany, the United States, and the United Kingdom, Yokogawa leverages its expertise in industrial automation to serve diverse industries worldwide.

Through a network of subsidiaries, sales offices, and partnerships, the company delivers cutting-edge automation solutions and services, contributing to enhanced operational efficiency and technological advancement on a global scale.

Recent Developments

  • In April 2024, Yokogawa Electric Corporation introduced CENTUM™ VP R6.11.10, an enhanced iteration of its integrated production control system, which plays a vital role within the OpreX™ Control and Safety System portfolio.
  • In March 2024, Yokogawa Electric Corporation introduced OpreX Robot Management Core.

Advantest

Company Overview

Establishment Year1954
HeadquarterTokyo, Japan
Key ManagementDoug Lefever (CEO)
Revenue (US$ Bn)$ 3.6 Billion (2023)
Headcount~ 6,544 (2023)
Websitehttp://www.advantest.com/

About Advantest

In 2024, Advantest Corporation, a prominent company in the test and measurement equipment sector, achieved significant advancements.

It introduced the DC Scale XHC32, an ultra-high-current power supply for its V93000 EXA Scale SoC test platform, meeting the rising power needs of AI accelerators, HPC chips, GPUs, and other high-current devices, boasting 32 channels and a total current capacity of up to 640A.

Additionally, Advantest partnered with Toray Engineering to improve manufacturing efficiency for mini/microLED displays, aiming to promote this energy-efficient display technology.

Furthermore, Advantest received recognition in the S&P Sustainability Yearbook 2024 for its outstanding ESG practices and actively participated in industry events like the VOICE 2024 Developer Conference, fostering the exchange of insights and innovations in semiconductor testing.

These accomplishments highlight Advantest’s dedication to innovation and sustainability in the test and measurement sector.

Geographical Presence

Headquartered in Tokyo, Japan, Advantest Corporation has a global presence strategically spread across major semiconductor hubs in Asia, Europe, and the Americas.

With subsidiaries, sales offices, and service centers across continents, Advantest ensures extensive market coverage and responsive customer service.

It maintains key locations in Taiwan, South Korea, China, and Singapore in Asia, while in Europe, it operates in Germany, the United Kingdom, and France.

In the Americas, Advantest is prominent in semiconductor clusters like Silicon Valley, California, and manufacturing centers in Texas.

This extensive global footprint allows Advantest to engage with clients effectively, adapt to market shifts, and deliver innovative testing solutions worldwide.

Recent Developments

  • In May 2024, Advantest Corporation introduced its latest power supply for the V93000 EXA Scale SoC test platform.
  • In April 2024, Advantest Corporation partnered with Toray Engineering Co., Ltd. to enhance production efficiency for mini/microLED displays.

Teledyne-Technologies

Company Overview

Establishment Year1960
HeadquarterThousand Oaks, California, U.S.
Key ManagementEdwin Roks (CEO)
Revenue (US$ Bn)$ 5.6 Billion (2023)
Headcount~ 14,900  (2023)
Websitehttp://www.teledyne.com/

About Teledyne Technologies

In 2024, Teledyne Technologies, a key player in test and measurement equipment, has been expanding its offerings and market presence.

Teledyne e2v launched the Topaz5D, a unique image sensor blending real-time 2D vision and 3D depth data for logistics, AR/VR, and robotics.

They also secured a significant $249 million contract with the U.S. Marine Corps for the Organic Precision Fires-Light (OPF-L) program, showcasing their prowess in defense technology.

Furthermore, Teledyne acquired Valeport, a leader in oceanographic instrumentation, to strengthen its marine solutions portfolio.

These moves underscore Teledyne’s dedication to innovation and strategic growth across diverse high-tech sectors.

Geographical Presence

Teledyne Technologies Incorporated boasts a widespread global presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East.

With strongholds in key markets such as the United States, Canada, the United Kingdom, Germany, China, and Japan, Teledyne strategically positions itself to serve diverse industries and capitalize on emerging opportunities.

Leveraging sophisticated technological infrastructure and engaging with dynamic economies, the company delivers innovative solutions to customers worldwide, driving growth and fostering innovation across continents.

Recent Developments

  • In May 2024, Teledyne Relays launched the CCR-67V series.
  • In March 2024, Teledyne unveiled Topaz5D™, a CMOS image sensor merging full-HD 2D vision with 3D depth map creation.

Texas-Instruments

Company Overview

Establishment Year1930
HeadquarterDallas, Texas, U.S.
Key ManagementHaviv Ilan (CEO)
Revenue (US$ Bn)$ 17.5 Billion (2023)
Headcount~ 34,000  (2023)
Websitehttp://ti.com/

About Texas Instruments

Texas Instruments Incorporated (TI), a key player in the test and measurement equipment industry, recently reported strong financial results and strategic advancements for Q1 2024.

With a revenue of $3.66 billion and a net income of $1.11 billion, TI is focused on expanding its product range and maximizing shareholder value, which is evident in the announcement of a quarterly cash dividend of $1.30 per share.

Notable innovations include advancements in embedded processor technology, crucial for industrial robotics and automation.

Additionally, TI emphasizes its commitment to sustainability and operational excellence, aligning with its long-term growth objectives.

These developments highlight TI’s dedication to strengthening its market presence and offering state-of-the-art solutions in the semiconductor and test equipment sectors.

Geographical Presence

Texas Instruments Inc., a major semiconductor firm, maintains a strong global presence in North America, Asia, and Europe, and it is headquartered in Dallas, Texas. It strategically operates manufacturing sites, research centers, and sales offices across these regions.

In North America, it leverages technological expertise and innovation ecosystems, while in Asia, it benefits from the electronics supply chain and manufacturing capabilities in countries like China, Japan, and South Korea.

Similarly, in Europe, it caters to diverse customer needs and forms partnerships with local entities. Overall, Texas Instruments’ broad global reach underscores its dedication to serving customers worldwide and leading semiconductor innovation.

Recent Development

  • In May 2024, Texas Instruments Inc. divested a share to Elliott Investment Management for $2.5 billion.
  • In April 2024, Texas Instruments Inc. collaborated with Kontron to introduce a new SMARC module utilizing its latest AM67x scalable Edge AI processor.

Thermo-Fisher-Scientific

Company Overview

Establishment Year1956
HeadquarterWaltham, Massachusetts, U.S.
Key ManagementMarc N. Casper (CEO)
Revenue (US$ Bn)$ 42.8 Billion (2023)
Headcount~  122,000 (2023)
Websitehttp://www.thermofisher.com/

About Thermo Fisher Scientific

Thermo Fisher Scientific, a leading entity in the test and measurement equipment sector, has reported significant advancements and strategic developments in 2024.

The company achieved first-quarter revenues of $10.34 billion, reflecting its robust financial health​​. In terms of strategic growth.

Thermo Fisher announced the acquisition of Olink, a leader in next-generation proteomics, which is expected to enhance their capabilities in high-growth markets like protein biomarker discovery​​.

Additionally, Thermo Fisher launched the Thermo Scientific Dionex Inuvion Ion Chromatography system, simplifying ion analysis and expanding their product portfolio​​.

These initiatives highlight Thermo Fisher’s commitment to innovation and market expansion in the scientific and analytical instruments industry.

Geographical Presence

Thermo Fisher Scientific Inc. has a strong global presence, strategically operating in North America, Europe, Asia-Pacific, Latin America, and the Middle East.

In North America, it has multiple facilities and distribution channels, serving the scientific community effectively. In Europe, it’s established as a trusted partner in scientific innovation.

In the Asia-Pacific region, especially in key markets like China, Japan, and India, it’s a leading provider of scientific solutions.

Latin America and the Middle East are also important areas of expansion to meet evolving scientific needs.

Thermo Fisher Scientific’s extensive network and commitment to excellence drive innovation and have a significant global impact.

Recent Development

  • In May 2024, Thermo Fisher Scientific introduced the Applied Biosystems Axiom BloodGenomiX Array and accompanying software.
  • In May 2024, Thermo Fisher Scientific launched a new CXCL10 testing service.

ABB

Company Overview

Establishment Year1988
HeadquarterVästerås, Sweden
Key ManagementBjörn Rosengren (CEO)
Revenue (US$ Bn)$ 32.2 Billion (2023)
Headcount~ 105,000 (2023)
Websitehttps://global.abb/

About ABB

ABB, a global leader in the test and measurement equipment sector, has demonstrated significant advancements and strategic growth in 2024.

The company reported robust financial performance with a record order intake of $9 billion and a strong cash flow from operating activities totaling $726 million for the first quarter​​.

ABB continues to innovate in AI and robotics, showcasing its latest AI-powered solutions at Automate 2024, including the launch of their AI-enabled Autonomous Mobile Robots (AMRs) with Visual SLAM navigation technology​​.

Additionally, ABB has expanded its portfolio through strategic acquisitions, such as the purchase of SEAM Group to enhance its electrification services and the acquisition of Sevensense for advanced AI-driven mobile robotics​​.

These initiatives highlight ABB’s commitment to driving technological innovation and maintaining its leadership in the industrial automation and robotics sectors.

Geographical Presence

ABB Ltd., a global leader in electrification, robotics, automation, and motion, boasts a formidable geographical presence spanning Europe, North America, Asia-Pacific, and emerging markets in Latin America, Africa, and the Middle East.

With key hubs strategically located in Switzerland, Sweden, Germany, the United States, China, India, and beyond, ABB strategically positions itself to serve diverse markets and capitalize on emerging opportunities.

This extensive reach underscores the company’s commitment to delivering innovative solutions and fostering sustainable development worldwide, enabling it to adapt to local market dynamics while driving growth and resilience across continents.

Recent Developments

  • In May 2024, ABB Korea Robotics partnered with Pulmuone to advance AI Robotics R&D for Cell-Cultured Seafood.
  • In May 2024, ABB agreed to purchase Siemens’ Wiring Accessories division in China.
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Tajammul Pangarkar

Tajammul Pangarkar

Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.