Arbitrary Waveform Generator Market Analysis Report By Product, By Technology, By Application, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global arbitrary waveform generator market size was accounted for USD 304.7 million in 2018. It is projected to grow at a CAGR of over 9.0% during the forecast period, 2019 to 2025. Increasing demand for measurement and advanced testing equipment across various sectors such as telecommunications, consumer electronics, education, healthcare, aerospace is projected to boost the market growth. In addition, the growing trend of communication technologies along with rising internet penetration is supporting the growth of arbitrary waveform generators (AWG).

Furthermore, significant investment in the aerospace and healthcare sectors is increasing with technological developments. This factor is augmenting the growth of the AWG market. Moreover, this equipment provides improved performance and cost-effectiveness compared to other generators. Thus, owing to these benefits, AWG equipment is highly used in manufacturing applications.

In addition, technological innovations, growing need for electronic device monitoring, testing, measurement needs are expected to boost the market growth. Wireless technologies such as LTE, GSM, and WCDMA utilizes the waveform generators for attaining minimum noise, frequency stability, and greater accuracy. Additionally, the growing trend of IoT platforms is fostering the growth of AWGs.

Optical applications need phase modulation, high baud rate, bandwidth. These features are offered by synchronized AWGs with optical signals. In addition, technological advancements like Multiple input multiple outputs are boosting the growth of AWGs. In wireless applications, multiple input/outputs are required for data management.

Product Insights

Depending on the product, the market is fragmented into dual-channel AWG, single-channel AWG. The Dual-channel AWG type segment is projected to lead the market with the highest revenue share in the overall market by 2025. These AWGs offer better synchronization than single-channel AWGs. 

The single-channel type AWG segment is estimated to grow at a significant rate from 2019 to 2025. Single-channel AWGs are highly cost-effective compared to other types mentioned in the report by product. These AWGs offer a user-friendly interface and are widely utilized in communication applications that need narrowband channels.

Technology Insights

Depending on the technology, the arbitrary waveform generator market is segmented into combined AWG, variable-clock AWG, direct digital synthesis AWG. The combined AWG type segment is projected to expand at the fastest CAGR over the forecasted period. A combination of variable clock technologies and direct digital synthesis (DDS) offers various benefits over single-channel AWG. Thus, the market is projected to grow at a substantial pace in the next few years.

In 2018, the DDS type AWG segment contributed to USD 140.0 million in terms of revenue. Technology-supported generators offer several benefits such as cost-effectiveness, convenient usage, and frequency sweeps. DDS technology-based generators are highly preferred due to constant clock rates.

Application Insights

The applications segment is comprised of education, telecommunications, healthcare industrial, electronics, and others. The telecommunications segment is projected to lead the market with the highest revenue share of over USD 120.0 million by 2025. The growing need for generators in embedded electronics, testing of semiconductor components is boosting the market growth. Additionally, the growth of LTE and Wi-Fi technology is supporting market growth.

The education application segment is anticipated to expand at the highest CAGR of 11.0% over the forecasted period. Furthermore, the rising application of waveform generators in education universities, and institutes are driving the market growth. Several factors like compact size, easy usage is proliferating the use of AWGs in the education industry.

Regional Insights

Asia Pacific is projected to grow at the fastest CAGR during the forecasted period. Increasing demand for measurement, testing equipment from the aerospace, and consumer electronics industries is mainly contributing to market growth. In addition, low manufacturing costs, the low skilled labor force is also supporting market growth.

Europe is estimated to grow at a substantial rate from 2019 to 2025. The growing adoption of industrial IoT and smart factories is driving the market growth. In industrial applications for testing, monitoring purposes these generators are used. The electronics sector requires generators for measurement & testing applications.

Impact of COVID-19

The outbreak of COVID-19 has negatively impacted the global arbitrary waveform generator market. COVID-19 pandemic has significantly impacted the consumer electronics industry. The demand for arbitrary waveform generators has declined to owe to supply chain disruption. The production and manufacturing activities had been shut down in the early quarter of 2020. However, the companies are opening their manufacturing facilities with a limited workforce under government regulations.

The market is expected to grow at a rapid pace over the forecast period. Several players are focusing on providing its solution through innovative programs. For instance, Keysight Technologies have introduced the Innovative Anywhere program that emphasizes optimizing productivity and minimizes disruptions.

Arbitrary Waveform Generator Market Share Insights

AWG Market is highly competitive in nature. Leading players in the market include B&K Precision Corporation, Fluke Corporation, DynamicSignals LLC, Key sight Technologies, Tektronix Inc., National Instruments, Teledyne LeCroyand Rohde & Schwarz. The key players in the market engage in collaborations and partnerships to remain competent in the market. In 2019, Telia, and Key sight Technologies have collaborated to fasten the 5G New Radio (NR). Spirent Communications and National Instruments have collaborated to test 5G performance solutions.

Several players focus on new product launches to increase their product portfolio. For example, in 2017, B&K precision corporation has introduced a 4050B dual-channel waveform generator.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For this study, Million Insights has segmented the global arbitrary waveform generator market report based on product, technology, application, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)
    • Single-channel
    • Dual-channel

• Technology Outlook (Revenue, USD Million, 2014 - 2025)
    • Direct Digital Synthesis AWG
    • Variable-clock AWG
    • Combined AWG

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Telecommunications
    • Education
    • Healthcare
    • Electronics
    • Industrial
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • The Asia Pacific
        • China
        • India
        • Japan
    • Latin America
    • Middle East & Africa (MEA)