Five Areas in Radio Frequency Test & Measurement that Will Create Over $30 Billion in New Revenues by 2023
February 21, 2018 | Frost & SullivanEstimated reading time: 2 minutes

Frost & Sullivan’s latest analysis, Radio Frequency (RF) Test and Measurement (T&M) Market, Forecast to 2023, finds that high demand from the connected car industry, advancements in wireless communication standards, and pre-5G and 5G technologies are driving industry expansion. The study provides a detailed assessment of key market dynamics, drivers and restraints, revenue forecasts by region, and market share and competitive analysis.
Frost & Sullivan expects Asia Pacific to be the largest and fastest growing region for RF T&M vendors, with estimated revenues of $1.99 billion by 2023.
“Asia has become the manufacturing hub of the world and holds special importance for vendors, but it is also making inroads in research and development (R&D), which will further increase its importance going forward,” explained Jessy Cavazos, Measurement & Instrumentation Industry Director at Frost & Sullivan. “This region will also create significant opportunities for T&M vendors in the aerospace & defense industry.”
Meanwhile, North America and Europe will benefit from wireless technologies. Growth in these regions will be bolstered by R&D activity around new wireless communications standards, the connected car and Industrial Internet of Things (IIoT). With lower activities in emerging regions, the Latin America, Middle East and Africa segment represents only about 5% of the total market revenues.
The five major growth opportunities in the RF T&M market, that are expected to generate over $30 billion in new revenues by 2023, include:
- Connected car and autonomous driving: Infotainment systems have evolved tremendously and are now at the core of the value proposition of automakers. Adoption of wireless communications standards like LTE and Wi-Fi is driving demand for more RF testing, and important R&D investments are being made in automotive radar and target simulation.
- 5G: Extensive ongoing research on 5G technologies is increasing demand for RF T&M equipment and will continueto do so over the forecast period. Demand will go to higher frequencies in the long term to the detriment of the < 8 GHz market.
- Modular instrumentation: The penetration of modular electronic instrumentation is expected to continue to align with the multi-channel nature of upcoming end-user technologies; the CAGR from 2016 to 2023 for the modular RF T&M market is 14%.
- Asia Pacific: Asia Pacific is expected to witness higher growth than other regions, which will drive an increase in its share to 43.2% in 2023.
- IoT Devices: Market participants expect NarrowBand IoT and mobile IoT standards such as Bluetooth Low Energy (BLE), LTE-M and SigFox LoRa to create a new part of the market. This trend translates into an increase in parallel testing and generates a market for low-cost instrumentation.
“Market development is being impinged upon by RF instruments having a high price tag, especially high-end test equipment used in R&D applications,” noted Cavazos. “Companies across industry verticals are facing customer and competitor pressures to reduce prices, which is spreading throughout the value chain.”
Radio Frequency (RF) Test and Measurement (T&M) Market, Forecast to 2023 is part of Frost & Sullivan’s global Test & Measurement Growth Partnership Service program.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
Testimonial
"We’re proud to call I-Connect007 a trusted partner. Their innovative approach and industry insight made our podcast collaboration a success by connecting us with the right audience and delivering real results."
Julia McCaffrey - NCAB GroupSuggested Items
Altair, Wichita State University’s NIAR Sign MoU to Accelerate Aerospace Innovation
09/16/2025 | AltairAltair, a global leader in computational intelligence, and Wichita State University’s (WSU) National Institute for Aviation Research (NIAR), one of the world’s leading aerospace research institutions, have signed a memorandum of understanding (MoU) to advance innovation across the aerospace and defense industries.
India’s Aerospace and Defence Engineered for Power, Driven by Electronics
09/16/2025 | Gaurab Majumdar, Global Electronics AssociationWith a defence budget of $82.05 billion (2025–26) and a massive $223 billion earmarked for aerospace and defence spending over the next decade, India is rapidly positioning itself as a major player in the global defence and aerospace market.
Honeywell-Led Consortium Receives UK Government Funding to Revolutionize Aerospace Manufacturing
09/02/2025 | HoneywellA consortium led by Honeywell has received UK Government funding for a project that aims to revolutionize how critical aerospace technologies are manufactured in the UK through the use of AI and additive manufacturing.
Coherent Announces Agreement to Sell Aerospace and Defense Business to Advent for $400 Million
08/15/2025 | AdventCoherent Corp., a global leader in photonics, today announced that it has entered into a definitive agreement to sell its Aerospace and Defense business to Advent, a leading global private equity investor, for $400 million. Proceeds will be used to reduce debt, which will be immediately accretive to Coherent’s EPS.
KYZEN Partners with LPW to Elevate High Purity Cleaning with Cutting-Edge Cyclic Nucleation Technology in North America
08/13/2025 | KYZEN'KYZEN, a global leader in advanced cleaning solutions, has reached a major milestone in high-purity cleaning with the addition of a state-of-the-art Vacuum Cyclic Nucleation System at its North American Application Lab.