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According to the latest research report titled “Arbitrary Waveform Generator Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 624.4 million by 2028, registering a CAGR of 8.4% during 2021–2028.
An arbitrary waveform generator is an equipment used to generate electrical waveforms. Increasing penetration of the internet and growing demand from communication technology are boosting the growth of the arbitrary waveform generator market. The various enterprises across the globe are switching from traditional generators to advanced performance arbitrary waveform generators, which positively acting on the growth of the arbitrary waveform generator market. The use of an arbitrary waveform generator helps to reduce the overall operating cost, and it overcomes several limitations associated with a conventional generator, which is further augmenting in the growth of the arbitrary waveform generator market.
The need for testing, measurement, and monitoring of the devices results in increasing use of arbitrary waveform generators. This, in turn, is propelling the growth of the arbitrary waveform generator market. The increasing use of arbitrary waveform generators, owing to their benefits such as enhanced performance of the equipment and cost-effectiveness for computing applications, is boosting the growth of the arbitrary waveform generator market. The rising demand for advanced test and measurement equipment in various sectors such as telecommunications, healthcare, education, and consumer electronics, is expected to fuel the growth of the arbitrary waveform generator market.
Impact of COVID-19 Pandemic on Arbitrary Waveform Generator Market
The arbitrary waveform generator market witnessed a substantial decline in the revenue in the first half of 2020 owing to the high number of COVID-19 cases. Post lockdown, the market experienced an increasing demand for electronics devices. The adoption of 5G network has driven the market growth post lockdown. The COVID-19 outbreak has a major impact on manufacturing facilities as production capacities were lowered. The constant demand for electronics helped the arbitrary waveform generator market to resume the growth.
Key Findings of Study:
The arbitrary waveform generator market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Asia Pacific held the largest revenue share of the market. The increasing adoption of high-tech consumer devices such as smartphones, smart wearable, and appliances, is driving the arbitrary waveform generator technology market in APAC's growing economies. Technical breakthroughs in North America have resulted in a highly competitive market in the region, since the region's populace is attracted to a variety of technological developments due to their high purchasing power. The consumer electronics sector in the region is constantly growing due to the high density and increase in adoption of consumer electronic gadgets. Consumer electronics sales in Europe are being driven by the electronics industry, which is developing at a steady pace. Aside from rising consumer electronics use, the aging European population is driving the demand for innovative healthcare gadgets such as smart wearables. In order to meet the demands of clients, the healthcare sector is also developing and implementing novel services.
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