EMC Testing Market expected to be worth $2.8 billion by 2024

(IT-NEWSWIRE.COM, December 25, 2019 ) According to the new market research report "EMC Testing Market by Offering (Hardware & Software and services), End-Use Application (Consumer Appliances & Electronics, Automotive, Military & Aerospace, IT & Telecommunications, Medical, Industrial), and Geography - Global Forecast 2024", the EMC market is growing at a CAGR of 5.4%, from USD 2.1 billion in 2019 to USD 2.8 billion by 2024; the global market size estimation is provided from 2016 to 2024. One of the primary reasons for this rise in demand is the increasing need for safety, owing to factors such as the standardization of electronic products globally, mandatory EMC testing of medical equipment, and increase in the brand proposition of the companies.

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EMC testing market for certification services to grow at highest CAGR in 2019

The EMC testing market for certification services is expected to grow at the highest CAGR during the forecast period. Certification services ensure product safety and performance attributes. Certification services mainly include customized audit and certification services with respect to quality, health & safety, environment, and social responsibility. These services enable clients to commit to ongoing processes aimed at improving their business performance.

Market for consumer appliances and electronics application to grow at highest CAGR during forecast period

The EMC testing market for consumer applications and electronics is expected to grow at the highest CAGR during the forecast period. EMC requirements for consumer appliances are a cross-reference to radio frequency requirements with embedded wireless functionality. Testing service providers offer testing services for wireless technologies such as Bluetooth, cellular, near-field communications (NFC), and Wi-Fi. Furthermore, any electronic device is an interconnection of different systems and components; therefore, the performance of the device is primarily dependent on these components.

APAC to hold largest share of EMC testing market in 2019

Countries in APAC have made huge investments in renewable energy sources such as solar, wind, and nuclear, which makes APAC an important market for the EMC industry. APAC is also gearing up toward a sustainable future with renewable energy at a faster rate. Emerging policies, strategic roadmaps, expanding investments, and improving technologies are driving national governments to aim toward a fossil-free nation. Demand for energy is rising across China, India, and Indonesia due to rapid urbanization and industrialization, and considerable opportunities exist to avoid long-term lock-in with carbon-based energy technologies. Along with vast renewable energy potential, the region already possesses significant knowledge and expertise on renewables.

A few key players operating in the EMC testing market are SGS (Switzerland), Bureau Veritas (France), Intertek (UK), Eurofins Scientific (Luxembourg), DEKRA (Germany), Yokogawa Electric (Japan), Keysight Technologies (US), Rohde & Schwarz (Germany), Fortive (US), AMETEK CTS (Switzerland).

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EMC Testing Market expected to be worth $2.8 billion by 2024