Vector Network Analyzer Market Size :
Global Vector Network Analyzer Size 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.
Vector Network Analyzer Market Scope & Overview :
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, they are employed in various sectors including aerospace and defense, automotive, IT & telecommunication, and others. Also, they applied in the field of semiconductor for validating designs simulations. Moreover, in the area of manufacturing, they is applied for testing applications for RF components and devices.
Vector Network Analyzer Market Insights :
Vector Network Analyzer Market Dynamics - (DRO) :
Key Drivers :
Growing complexities of electronic devices
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, it is designed to measure a variety of properties, including impedance, gain, and phase emitted by electronic devices.
Moreover, key factors driving the development of the market include troubleshooting electronic systems, designing and optimizing electronic systems, calibrating other measurement instruments, among others. In the field of semiconductors analyzers are used to test the performance of integrated circuits so that the manufactured devices are able to execute the desired results. In addition, they are used to measure the scattering parameters and impedance of device being used for communication between two devices. Accordingly, the increasing need for advanced machines and devices to execute complex tasks contributes to elevated vector network analyzer market demand.
Increasing demand for technologically advanced instruments from manufacturing industry
Vector network analyzers are used in various manufacturing applications to characterize the performance of electronic devices and systems. For instance, in the manufacturing sector, they 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 leading to elevated vector network analyzer market demand.
Key Restraints :
Slow operating performance of products
Their slow performance is attributed to several factors including measurement and signal processing time taken by the device. For instance, they 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.
Future Opportunities :
Growing demand from semiconductor industry
The semiconductor industry is among rapidly growing industries across the globe. VNAs are employed there 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 expansion of the market. As constant development of technology such as machine learning and artificial intelligence requires advanced semiconductors, it emerges as one of many vector network analyzer market opportunities and is expected to promote the market expansion.
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 production for research and designing. Therefore, aforementioned investment made by developed nations to boost the semiconductors manufacturing will ultimately drive the market expansion for vector network analyzer.
Vector Network Analyzer Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 629.85 Million |
| CAGR (2023-2031) | 4.90% |
| Based on the Product Type | Benchtop and Handheld |
| Based on the Application | Spectrum Analysis, Pulse Measurements, Power Amplifier (PA) Characterization, and Active Device Tests |
| Based on the End Use | Automotive, Aerospace and Defense, Healthcare, Semiconductor, IT and Telecommunications, and Others |
| Based on the 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 |
| Geographies Covered | |
| North America | U.S. Canada Mexico |
| Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
| APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
| Middle East and Africa | GCC Turkey South Africa Rest of MEA |
| LATAM | Brazil Argentina Chile Rest of LATAM |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, Cost Analysis, and Regional Trends & Forecast |
Vector Network Analyzer Market Segmental Analysis :
By Product Type :
Based on the product type, the market is divided into benchtop and handheld. Largest vector network analyzer market share was accounted to the Handheld segment in the year 2022. The advent of technology in the field of telecommunication, broadcasting, and others have been increasing the need of analyzers for monitoring, broadcast proofing, and other applications. Market trends suggest that, growing applications of several wide band spectrums such as microwave and radio frequencies in telecommunication and consumer electronics segment is further boosting the need 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 expansion for the aforementioned segment in overall market.
Moreover, analysis of market trends indicates that the segment is also expected to grow at the fastest CAGR during the forecast period owing to the rising need for advanced communications devices in the telecommunication sector. For instance, companies such as Anritsu is offering various handheld products that have variable frequency range, ranging from 5 kHz to 9 GHz to perform the desired task of monitoring of signals. Vector network analyzer market analysis found that among product categories, VNA Master MS2036C is a handheld product 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. Largest vector network analyzer market share was accounted to the Power amplifier (PA) characterization segment in the year 2022. The key factors attributing to the proliferation of power amplifier (PA) characterization include increasing need for wireless communication devices such as tablets smartphones, and laptops. Analysis of market trends indicates that 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 requirement for high-performance PAs in a variety of applications including radar, wireless communication, and satellite communications is significantly boosting the Vector Network Analyzer market growth.
Moreover, the segment is also expected to grow at the fastest CAGR during the forecast period. Evaluation of market trends suggest that the opportunities for growth is owed to rising necessity of 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). Vector network analyzer market analysis discovered that 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 expansion of the market 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. Analysis of vector network analyzer market trends showcases that the semiconductor segment accounted for the largest market share of 35.6% in the year 2022. Owing to high requirement for vector network analyzers in designing and manufacturing high-performance semiconductors is driving the market proliferation of the segment. In addition, growing necessity for using high-performance semiconductors in a variety of applications, such as wireless communication, radar, and satellite communications is prominently driving the Vector Network Analyzer market growth.
Furthermore, Evaluation of market trends suggest that the segment is also projected to grow at the fastest CAGR during the forecast period owing to constant requirement for high performance semiconductors across various industries including automotive, healthcare, IT and telecommunication are expected to drive the expansion of market during the forecast period.
By Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North 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. Analysis of vector network analyzer market trends showcases its adoption 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, Companies working with vector network analyzer industry 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 requirement for abovementioned devices from consumer electronics sector is driving the expansion of the market.
Moreover, Asia-Pacific is expected to register the fastest CAGR growth of 5.1% during the forecast period. The 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 sector, and improvements in healthcare sector. The Asia Pacific region is a major market for wireless communication devices and growing space technologies. The increasing requirement for varied electronic devices from aforementioned sectors is driving the proliferation of the market.
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 the during the forecast period.
Top Key Players & Market Share Insights :
The Vector Network Analyzer market is highly competitive with major players providing Vector Network Analyzer to the national and international markets. companies functioning in vector network analyzer industry are adopting several strategies in research and development (R&D), product innovation, and end use launches to hold a strong position in the market. Key players in the Vector Network Analyzer market include-
- Keysight Technologies
- Copper Mountain Technologies, LLC
- Rohde & Schwarz
- Tektronix Inc.
- HUBER+SUHNER
- National Instruments Corp.
- Nanjing PNA Instruments Co. Ltd.
- Advantest
- OMICRON Lab
- Anritsu
Recent Industry Developments :
- In August 2022, Keysight Technologies, Inc. launched midrange vector network analyzer that is capable of producing precise error vector magnitude (EVM) measurements. In July 2021, SIGLENT Technologies launched 2- or 4-port vector SNA5000A network analyser for accurate evaluation of the stopband belonging to a filter.
Key Questions Answered in the Report
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.
