The consumer electronics segment accounted for more than one-fourth of the total market revenue in 2017.
PUNE, MAHARASHTRA, INDIA, December 3, 2020 /EINPresswire.com/ — Increase in penetration of IoT & smart devices, and high-end development of smart cities fuel the growth of the global over-the-air (OTA) testing market. On the other hand, testing over extreme conditions and large size as well as high cost of testing devices hamper the growth to some extent. Nevertheless, roll out of 5G is expected to create lucrative opportunities for the key players in the industry.
According to the report published by Allied Market Research, the global over-the-air (OTA) testing market was estimated at $1.51 billion in 2017 and is expected to hit at $3.09 billion by 2025, registering a CAGR of 9.4% from 2018 to 2025. The report offers a detailed analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
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The consumer electronics segment to lead the trail through 2018–2025-
Based on industry vertical, the consumer electronics segment contributed to more than one-fourth of the total market revenue in 2017 and is expected to rule the roost till 2025. The segment is also expected to grow at the fastest CAGR of 10.3% during the estimated period.
The mobile payment system to retain its top status during the study period-
Based on application, the mobile payment system accounted for nearly one-third of the total market share and is projected to maintain its dominance during the study period. Simultaneously, the home automation segment would cite the fastest CAGR of 11.6% throughout 2018–2025.
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North America to dominate till 2025-
Based on geography, North America generated the highest share, contributing to more than two-fifths of the total revenue. On the other hand, the Asia-Pacific region is anticipated to garner the fastest CAGR of 11.7% during the forecast period.
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Leading market players-
The key market players analyzed in the global over-the-air (OTA) testing market report include UL LLC, Anritsu, Microwave Vision Group (MVG), CetecomIntertek, Bureau Veritas, SGS, Rohde & Schwarz, Keysight Technologies, and Eurofins Scientific. These market players have adopted several strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their hold in the industry.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Source: EIN Presswire