Vector Network Analyzer Market Forecast 2023 - 2031
Report ID : CBI_1286 |
| Published Date:
| Format :
| Base Year: | 2022 |
|---|---|
| CAGR: | 4.90% |
| Forecast Year: | 2023 - 2031 |
| Revenue 2022: | $417.38 Mn |
| Revenue 2023: | $429.60 Mn |
| Revenue 2031: | $629.85 Mn |
Vector Network Analyzer Market Forecast 2023 - 2031
Market Overview :
Vector Network Analyzer Market is estimated to reach over USD 629.85 Million by 2031 from a value of USD 417.38 Million in 2022 and is projected to grow by USD 429.60 Million in 2023, growing at a CAGR of 4.90% from 2023 to 2031.
Market Definition :
A Vector network analyzer (VNA) is a device or instrument used to measure the wireless signals present in the network. Meanwhile, there are several wireless networks or signals present in the network area including Wi-Fi, radio frequencies, microwaves, among others. In addition, VNA are employed in various sectors including aerospace and defense, automotive, IT & telecommunication, and others. Also, VNA has an application in the field of semiconductor for validating designs simulations. Moreover, in the area of manufacturing, VNA is applied for testing applications for RF components and devices.
Market Dynamics :
Drivers :
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Growing complexities of electronic devices is driving the market growth
Electronic devices are increasingly turning into complex machines owing to the advancement of semiconductor technology. The products being manufactured have complex circuits and designs that require design testing and calibration at frequent intervals of period. In addition, VNA is designed to measure a variety of properties, including impedance, gain, and phase emitted by electronic devices.
Moreover, key factors driving the growth of the VNAs include troubleshooting electronic systems, designing and optimizing electronic systems, calibrating other measurement instruments, among others. In the field of semiconductors VNAs are used to test the performance of integrated circuits so that the manufactured devices are able to execute the desired results. In addition, VNAs are used to measure the scattering parameters and impedance of device being used for communication between two devices. Accordingly, the rising demand for advanced machines and devices to execute complex tasks is driving the market growth for vector network analyzer. -
Increasing demand for technologically advanced instruments from manufacturing industry is driving the market growth
Vector network analyzers are used in various manufacturing applications to characterize the performance of electronic devices and systems. For instance, in the manufacturing sector, VNAs are employed for testing of passive components, active devices, cable & connectors, among others. Passive components such as capacitors, resistors, and inductors are largely utilized in consumer electronics that require testing and surety regarding their performance. Moreover, testing of active device components such as diodes, transistors, and amplifiers also requires testing for its proper functioning. In addition, testing of cable and connectors is also mandatory to ensure their operation in transmission of signals and data, thus driving the market growth for vector network analyzers.
Restraint :
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Slow operating performance of vector network analyzer is restraining the market growth
Slow performance of vector network analyzer is attributed to several factors including measurement and signal processing time taken by the device. For instance, VNAs measure the scattering parameters of a device by weeping the frequency of the signals. In addition, the process includes measuring amplitude and phase of the signals at each frequency which tends to be a time-consuming process. Moreover, the signal processing is performed by measuring the received scattering parameters which slows down the working process of device in comparison to other devices present in the market.
Opportunities :
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Growing demand for VNAs from semiconductor industry is expected to create market growth opportunity
The semiconductor industry is among rapidly growing industries across the globe. VNAs are employed in the industry to test and characterize semiconductor devices including transistors, diodes, integrated circuits, among others. Owing to the rising global need for various forms of semiconductors to manufacture complex instruments and devices is propelling the demand for VNAs. Moreover, constant development and updating of technology such as machine learning and artificial intelligence requires advanced semiconductors thus expected to promote the market growth for VNAs.
For instance, recently the U.S. Congress has passed revenue grant of USD 52.7 billion under the CHIPS Act, 2022 namely by Chips for America to boost the domestic semiconductor industry for research and designing. Therefore, aforementioned investment made by developed nations to boost the semiconductors manufacturing will propel the growth of said industry, which will ultimately drive the market growth for vector network analyzer.
Vector Network Analyzer Market Report Coverage :
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 629.85 Million |
| CAGR (2023-2031) | 4.90% |
| By Product Type | Benchtop and Handheld |
| Application | Spectrum Analysis, Pulse Measurements, Power Amplifier (PA) Characterization, and Active Device Tests |
| By End Use | Automotive, Aerospace and Defense, Healthcare, Semiconductor, IT and Telecommunications, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | Keysight Technologies, Copper Mountain Technologies, LLC, National Instruments Corp., Nanjing PNA Instruments Co. Ltd., Advantest, OMICRON Lab, Anritsu, Rohde & Schwarz, Tektronix Inc., HUBER+SUHNER |
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Download Sample ReportMarket Segmentation :
By Product Type :
Based on the product type, the market is divided into benchtop and handheld. Handheld vector network analyzer is accounted to generate the largest market share in the year 2022. The advent of technology in the field of telecommunication, broadcasting, and others have been proliferating the demand for analyzers for monitoring, broadcast proofing, and other applications. In addition, growing applications of several wide band spectrums such as microwave and radio frequencies in telecommunication and consumer electronics segment is further boosting the demand for network measurement devices. Thus, handheld devices play an important role in providing agility and accessibility to perform task required for measurement of signals aired in various network is thus fuelling the growth for the aforementioned segment in overall vector network analyzer market.
Moreover, the segment is also expected to grow at the fastest CAGR during the forecast period owing to the rising demand for advanced communications devices in the telecommunication sector. For instance, companies such as Anritsu is offering various handheld vector network analyzer that have variable frequency range, ranging from 5 kHz to 9 GHz to perform the desired task of monitoring of signals. Among the product categories, VNA Master MS2036C is a handheld vector network analyzer having a frequency range from 5 kHz to 6 GHz being used for measurement of radio frequencies and microwave for various wireless data networks.
By Application :
Based on the application, the market is divided into spectrum analysis, pulse measurements, power amplifier (PA) characterization, and active device tests. Power amplifier (PA) characterization is accounted to generate the largest market share in the year 2022. The key factors attributing to the growth of power amplifier (PA) characterization include increasing demand for wireless communication devices such as tablets smartphones, and laptops. PAs are widely used by the commercial sector for amplifying radio frequency wave bands in order to boost the performance of the network. In addition, increasing demand for high-performance PAs in a variety of applications including radar, wireless communication, and satellite communications is boosting the growth of power amplifier (PA) characterization segment in the overall VNAs market.
Moreover, the segment is also expected to grow at the fastest CAGR during the forecast period owing to rising demand for higher data transfer rates in wireless communication systems coupled with development of new radar technologies, such as synthetic aperture radar (SAR) and electronic warfare (EW). Furthermore, growth of the satellite communications network, fueled by government encouragement towards modernization of various sectors such as research and development, education, environmental studies, and others will drive the demand for VNAs during the forecast period.
For instance, as of July 2023, there are around 4,487 Starlink operational satellites in orbit, operated by Space X.
By End Use :
Based on the end use, the market is segmented into automotive, aerospace and defense, healthcare, semiconductor, IT and telecommunications, and others. The semiconductor segment accounted for the largest market share of 35.6% in the year 2022. Owing to high demand for vector network analyzers in designing and manufacturing high-performance semiconductors is driving the market growth of the segment. In addition, due to the growing demand for high-performance semiconductors in a variety of applications, such as wireless communication, radar, and satellite communications.
Furthermore, the segment is also projected to grow at the fastest CAGR during the forecast period owing to constant demand for high performance semiconductors across various industries including automotive, healthcare, IT and telecommunication are expected to drive the demand for vector network analyzer during the forecast period.
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Download Sample ReportBy Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Regional Growth Insights
Download Sample ReportNorth America accounted for the largest revenue share of USD 172.17 Million in 2022 and is expected to reach USD 260.44 Million by 2031, growing by a CAGR of 4.9%. Also, the market is projected to garner revenue of USD 177.26 million in the year 2023. In addition, in the region, the U.S. accounted for the maximum revenue share of 65.32% in the same year. The adoption of vector network analyzer in North America is primarily driven by factors including strong presence of semiconductor and electronics industries such as Qualcomm, Intel, and Texas Instruments. In addition, aforementioned companies are constantly developing new products and technologies, which require VNAs for testing and characterization.
In addition, the region has high spending on research and development, where companies in a variety of industries are investing heavily in new technologies. Accordingly, VNAs are essential tools for R&D, since they are used to characterize the performance of new devices and systems. Furthermore, North America is a major market for wireless communication devices including smartphones, tablets, and laptops. The increasing demand for abovementioned devices from consumer electronics industry is driving the demand for VNAs.
Moreover, Asia-Pacific is expected to register the fastest CAGR growth of 5.1% during the forecast period. The vector network analyzer market in the Asia-Pacific region is expected to grow significantly during the forecast period. The growth is attributed to a number of factors, including growing adoption of Industry 4.0, growth of the automotive industry, and improvements in healthcare sector. The Asia Pacific region is a major market for wireless communication devices and growing space technologies. The increasing demand for varied electronic devices from aforementioned sectors is driving the demand for VNAs.
In addition, Asia Pacific region is a major adopter of Industry 4.0, which is driving the demand for automation and smart manufacturing. VNAs are essential tools for industries to characterize and test RF components of automation and smart manufacturing systems tend to drive the demand for vector network analyzer during the forecast period.
Details Countries Growth Insights
Download Sample ReportVector Network Analyzer Market Competitive Landscape:
The Vector Network Analyzer market is highly competitive with major players providing Vector Network Analyzer to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end use launches to hold a strong position in the Vector Network Analyzer market. Key players in the Vector Network Analyzer market include-
- Keysight Technologies
- Copper Mountain Technologies, LLC
- National Instruments Corp.
- Nanjing PNA Instruments Co. Ltd.
- Advantest
- OMICRON Lab
- Anritsu
- Rohde & Schwarz
- Tektronix Inc.
- HUBER+SUHNER
Frequently Asked Question
What is Vector Network Analyzer?+
A Vector Network Analyzer is a device that generates a precise and stable voltage signal utilized to calibrate other electronic instruments including oscilloscopes, mustimeters, and power supplies. Vector Network Analyzers are employed for application in varied sectors including industrial, research, and educational settings.
What specific segmentation details are covered in the Vector Network Analyzer report, and how is the dominating segment impacting the market growth?+
For instance, by product type segment has witnessed handheld as the dominating segment in the year 2022, owing to the advantages offered by handheld vector network analyzers including accuracy and efficiency offered by the device.
What specific segmentation details are covered in the Vector Network Analyzer market report, and how is the fastest segment anticipated to impact the market growth?+
For instance, by end use segment will witness semiconductor segment to grow at the fastest growth rate during the forecast period. The demand is expected to increase due to key application offered by vector network analyzers in designing and manufacturing of high-performance semiconductors.
Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2031? +
Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization and demand for telecommunication, healthcare, and semiconductor infrastructure.
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