Signaling Analyzer Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2031)

Based on the Component :

Based on the component, the market is bifurcated into hardware and software. The hardware segment accounted for the largest revenue share in the year 2022. The primary hardware components of a signaling analyzers include RF input attenuator, mixer, IF filter, IF (Intermediate Frequency) gain, video filter, detector, sweep generator, oscillator, and CRT display among others. The hardware components enable efficient and reliable in-channel measurements including error vector magnitude that requires both phase and magnitude information.

For instance, in May 2022, Taitien Electronics launched its new ultra-low current crystal oscillators. The oscillators offer several benefits including small size, low power consumption, and high precision, along with fulfilling the signal requirements of most end equipment. Thus, the rising innovations related to hardware components used in signaling analyzers is a prime factor proliferating the growth of the segment.

The software segment is anticipated to register the fastest CAGR growth during the forecast period. The signal analyzer software is capable of computing and displaying the spectrum, and spectrogram for a wide range of signals and data types, including communication signals, bio signals, audio, and streaming data among others. Moreover, signal analyzer software enables users to control the attainment, processing, and display of the spectral content of acquired signals in order to facilitate reliable measurements and analysis. Signal analysis software also supports a broad spectrum of applications including individual signal analysis, manual signal processing, along with fully automated signal recognition and processing in wideband scenarios.

For instance, in January 2022, Tektronix Inc. released its new version of vector signal analysis software. The new version of signal analysis software introduces 5G new radio uplink/downlink measurements and analysis capabilities including error vector magnitude, channel power, occupied bandwidth, spectrum emission mask, and others. Therefore, the rising developments associated with signal analysis software is a vital factor expected to drive the growth of the market during the forecast period.

Based on the End-User :

Based on the end-user, the market is segregated into IT & telecommunication, automotive, aerospace & defense, healthcare, and others. The IT & telecommunication segment accounted for the largest revenue share of 37.6% in the year 2022. Factors including the rising penetration of 5G infrastructure, growing demand for wireless communication, and increasing demand for high-speed data and internet services are driving the growth of the IT & telecommunication segment.

For instance, Anritsu Corporation offers signal analyzer MS2850A in its product portfolio that is primarily designed for utilization in telecommunication sector for facilitating wideband communication measurements including 5G mobile communications and broadcast satellites among others.

Additionally, according to GSM Association, most of the countries in Europe deployed commercial 5G services in 2021, while two thirds of regional operators launched 5G networks. Further, 5G connections across the European region are estimated to reach 311 million by 2025. Therefore, the growth of telecommunication sector is driving the adoption of signaling analyzers for monitoring and measuring the performance of RF systems used in telecom infrastructure to maintain network quality, in turn driving the growth of the market.

The automotive segment is expected to witness the fastest CAGR growth during the forecast period. The growth of automotive segment is attributed to several factors including rising investments in expansion of automotive manufacturing facilities, increasing automobile production, and advancements in autonomous driving systems among others.

For instance, National Instruments Corp offers automotive radar signal analyzer in its product portfolio that is optimized to perform time and frequency domain analysis of frequency-modulated continuous-wave signals.

In addition, according to the China Association of Automobile Manufacturers, the total production of passenger cars in China reached up to 14.8 million units in January-August 2022, depicting a YoY growth of 14.7%. Signaling analyzers are used in the automotive industry, particularly for analysis of radar signals. Thus, rising automotive production is projected to drive the adoption of signaling analyzers, in turn contributing the market growth during the forecast period.

Based on the 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 713.26 Million in 2022 and is expected to reach USD 1,493.55 Million by 2031, registering a CAGR of 8.7% during the forecast period. In addition, in the region, the U.S. accounted for the maximum revenue share of 58.45% in the same year. The adoption of signaling analyzers in the North American region is primarily driven by its usage in IT & telecommunication, aerospace & defense, healthcare, and other sectors. Moreover, the rising utilization of signaling analyzers in telecommunication infrastructure for facilitating wideband communication measurements and analysis including 5G mobile communications are among the significant factors driving the market growth in the region.

For instance, according to the GSM Association, the deployment of 5G connections across the North American region reached approximately 140 million as of 2022. Hence, the growing telecommunication industry is fostering the utilization of signaling analyzer to ensure optimum communication and network quality, in turn driving market growth in the North American region. Further, increasing investments in healthcare and aerospace & defense industries are projected to stimulate lucrative growth prospects for the market in North America during the forecast period.

Asia-Pacific is expected to register the fastest CAGR growth of 8.9% during the forecast period. The rising pace of industrialization and development is stimulating lucrative growth aspects for the market in the region. Moreover, factors including the growth of multiple industries such as automotive, IT & telecommunication, and others are driving the market growth for signaling analyzers in the Asia-Pacific region.

For instance, according to the Society of Indian Automobile Manufacturers, the overall automobile production in India reached 2,59,31,867 units from April 2022 to March 2023, depicting an incline of 12.6% from 2,30,40,066 units from April 2021 to March 2022. Hence, the growing automotive sector is anticipated to drive the utilization of signaling analyzers for analysis of radar signals. The above factors are projected to drive market growth in the Asia-Pacific region during the forecast period.