The vector network analyzer market is evaluated at US$464.975 million for the year 2019 and is projected to grow at a CAGR of 4.68% to reach US$640.435 million in 2026.
A network analyzer is an instrument that characterizes and measures the network parameters of electrical networks. Vector Network Analyzers are utilized to check component specifications and verify design simulations to ensure the framework and their components work appropriately together. It measures both amplitude and phase properties using the concept of measuring the transmitted and reflected waves.
A vector network analyzer has extensive operations in the communication, automotive, and electronic sectors. The surge in demand from these sectors is expected to drive the growth of the vector network analyzers market. The growing adoption of wireless devices will also boost the growth of the market in the forecast period. Rapid industrial growth in emerging economies will further facilitate the demand for vector network analyzers. However, high initial implementation cost is predicted to restrain the growth of the vector network analyzer market.
The demand for vector network analyzers in the electronics sector is inclining significantly. Electronic segment creators utilize vector network analyzers to confirm the performance of their components like amplifiers, filters, antennas, cables, mixers, etc. This is mainly attributed to the favorable capabilities of a vector network analyzer to calculate return loss and insertion loss of the network, visualizing the results in different formats, characterizing multi-port networks consisting of various components, and utilization for networks with an arbitrary number of ports. Furthermore, there is rising adoption of wireless features incorporated in electronic devices like Bluetooth, Wi-Fi, GPS, and GSM-LTE. Vector network analyzers are also utilized to measure parameters of telecom bands such as Bluetooth, Zigbee, Wi-Fi, GSM-LTE, ISM, and GPS.
Additionally, a vector network analyzer is being increasingly used in the communication sector due to technological advancement and the rising number of smartphone users. 62.07% of the world’s population own a smart and feature phone. Moreover, vector network analyzers are also extensively being used in the automotive sector and the rising demand for cars is contributing to the demand for vector network analyzers. So, the increasing operations of vector network analyzers by the electronic, communication, and automotive sectors are expected to contribute majorly to the growth of the vector network analyzer market.
The rapid industrialization in emerging economies is one of the key factors of the growth of the vector network analyzer market. The rapid industrialization and further rising utilization of vector network analyzers across various industries are raising the demand. Also, the inclining economic conditions in these developing countries coupled with technological advancements are boosting the vector network analyzer market growth significantly.
Increasing BYOD and IoT incorporate company environments are pushing the demand for vector network analyzers. BYOD refers to Bring Your Own Device under which the employees are permitted to use their personal devices as opposed to using as officially provided devices. This raises the demand for electronic devices propelling the demand for vector network analyzers. IoT, Internet of Things refers to the wireless network of physical devices that are embedded with sensors, software, and other technologies with the aim of connecting and exchanging data with other devices and systems over the internet. This is coupled with increasing globalization, the multi-national presence of many companies, and outsourcing are hiking the demand for vector network analyzers.
Various technological improvement and their increased adoption in different sectors are expected to lead to the growth of the vector network analyzer market. Now, there has been increasing use of technology in the education sector and by the government too. This hints at the further opportunities for the market in terms of wide utilization.
There are two main types of network analyzers namely scalar network analyzers and vector network analyzers. Scalar network analyzers can measure amplitude properties only, as opposed to vector network analyzers then can measure both the amplitude and phase properties. Both the popularity and demand for scalar network analyzers have declined to lead to a consumer preference for vector network analyzers boosting the demand.
Vector network analyzers are more complex as they need full heterodyne architecture in the receiver to measure both amplitude and phase. Hence, they are expensive. The main hindrance in the growth of the vector network analyzer market is the high initial installation and manufacturing cost.
Impact of COVID-19.
Like every other industry, the advent of COVID-19 has impacted the vector network analyzer market too. The product and distribution both suffered due to the lockdowns imposed in countries across the globe to contain the spread of the virus. Moreover, the decline in the demand in other industries using vector network analyzers like automotive, defense, aerospace is affecting the market for vector network analyzers negatively. However, the increase in adoption in industries like telecommunication and electronics has facilitated the growth of vector network analyzers in the market. Furthermore, the work-from-home culture and online education have led to a surge in the demand for electronic devices and wireless connections. This has further propelled the market growth. Hence, despite the fluctuation and challenges face by the market, the vector network analyzer market is expected to grow at a steady rate during the forecast period.
By frequency type, the vector network analyzer market is studied across the frequencies of 67-110 GHz, 26.5-40 GHz, 40-50 GHz, 50-67 GHz, and 0.26-5GHz. The 40-50 GHz segment is expected to grow at the highest rate in the forecast period owing to its application by various industries like electronics and automotive.
By Application, the vector analyzer market is segmented into medical, automotive, aerospace and defense, electronic, education, and IT and telecommunication, and others. IT and telecommunication will dominate the growth of the vector network analyzer market owing to the rise in demand facilitated by the emergence of the COVID-19 pandemic.
Geographically, the vector network analyzer market is segmented into North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. North America is expected to experience the largest growth in the forecast period attributed to the high adoption of vector network analyzers by well-known companies in IT and telecommunication, electronics, transportation, and automotive industries.
|Market size value in 2019||US$464.975 million|
|Market size value in 2026||US$640.435 million|
|Growth Rate||CAGR of 4.68% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Frequency Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Anritsu Corporation, Copper Mountain Technologies, Keysight Technologies, Nanjing PNA Instruments Co.,Ltd, Pico Technology, Rohde and Schwarz, Transcom Instruments Co., Ltd., GS Instrument Co. Ltd., Omicron Lab.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global vector network analyzer market?
A2. Vector Network Analyzer Market was valued at US$464.975 million in 2019.
Q2. What are the growth prospects for the vector network analyzer market?
A2. The global vector network analyzer market is projected to grow at a CAGR of 4.68% during the forecast period.
Q3. What factors are anticipated to drive the vector network analyzer market growth?
A3. The surge in demand from the communication, automotive, and electronic sectors is expected to drive the growth of the vector network analyzers market.
Q4. What will be the vector network analyzer market size by 2026?
A4. The vector network analyzer market is projected to reach a market size of US$640.435 million in 2026.
Q5. Which region holds the maximum market share of the vector network analyzer market?
A5. North America is expected to hold the largest share in the vector network analyzer market attributed to the high adoption of vector network analyzers by well-known companies in the IT and telecommunication, electronics, transportation, and automotive industries.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Vector Network Analyzer Market Analysis, by Frequency Type
5.2. 67-110 GHz
5.3. 26.5-40 GHz
5.4. 40-50 GHz
5.5. 50-67 GHz
6. Vector Network Analyzer Market Analysis, by Application
6.4. Aerospace and defense
6.7. IT and telecommunication
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Vector Network Analyzer Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Company Profiles
9.1. Anritsu Corporation
9.2. Copper Mountain Technologies
9.3. Keysight Technologies
9.4. Nanjing PNA Instruments Co.,Ltd
9.5. Pico Technology
9.6. Rohde and Schwarz
9.7. Transcom Instruments Co., Ltd.
9.8. GS Instrument Co. Ltd.
9.9. Omicron Lab.
Copper Mountain Technologies
Nanjing PNA Instruments Co.,Ltd
Rohde and Schwarz
Transcom Instruments Co., Ltd.
GS Instrument Co. Ltd.
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.