Functional generators or signal generators are common electronic devices that are used for testing, designing, repairing or troubleshooting various electronic and electro-acoustic devices. These devices generate repeating as well as non-repeating signals in digital or analog domains. Global signal generators market started gaining attention for the past few years. The biggest reason for this was the technological advancements and increasing applications of these generators, better known as test oscillators. Medical sector is the largest consumer of these devices. However, advances in the technology for the industry have also increased the scope of applications for the market. This is expected to be a good sign for the market as well as businesses aiming for big investments and expansions in the industry.
Categorization in Signal Generators Market
Global market for test oscillators is segmented for detailed analysis in terms of market trends, business opportunities and forecasts. The basic segmentation in the industry is created based on the types of products, technologies, their applications, deployment in different types of end-user areas and geography. Majority segments of signal generators market are in their growing stage, which is considered as the strength of the industry. Another factor strengthening the market is the expansion of businesses across various geographic regions including North America, Asia Pacific, Europe and rest of the world. Increasing demand and inventions in technology are the biggest drivers for the global industry, which is expected to make healthy growth in terms of compound annual growth rate.
Forecasting Reports from 2013 to 2018
As per the latest market research reports, signal generators market is expected to grow at a CAGR of over 10% within next four to five years to come. It means, from 2013 to 2018, different segments of the market will continue growing within different geographic regions. Based on the types of end users, electronics manufacturing and telecommunication users will record phenomenal growth in the industry. These industries are followed by education and industrial users. As far as market volume is concerned, education and academia will dominate the global market. However, one needs to understand that the test oscillators market is showing slow growth in crucial industries like automotive and medical.
Although slow, the technology is poised to pick up in the aforementioned industries with emergence of man-machine interface and other such advancements. Continuous adoption of the emerging technologies is a significant driver, which is paired with rising demand from new business verticals. These verticals include aerospace and defense, semiconductor, electronics, automotive and industrial manufacturing.
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