Signal Generators Global Market Report 2024

The signal generators market size has grown strongly in recent years. It will grow from $1.39 billion in 2023 to $1.5 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The increase in the historical period can be attributed to factors such as the growing telecommunication industry, an increasing demand for electronic devices, advancements in aerospace and defense, the globalization of electronics manufacturing, and the rapid growth in IoT (Internet of Things) devices.

The signal generators market size is expected to see strong growth in the next few years. It will grow to $1.98 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period can be attributed to factors such as the implementation of 5G, the emergence of new communication standards, expanding applications in the automotive sector, the integration of AI (artificial intelligence) and ML (machine learning), and increased demand in healthcare electronics. Key trends expected in the forecast period include technological advancements, an increased emphasis on research and development (R&D), advancements in renewable energy technology, a heightened focus on cybersecurity, and an increased adoption of remote testing solutions.

The signal generator market is poised for growth, propelled by the expanding automotive industry. The automotive industry encompasses companies, organizations, and activities engaged in the design, development, manufacturing, and related activities of motor vehicles. Strong demand for automobiles is driven by factors such as enhanced fuel efficiency, advancements in autonomous driving capabilities, and evolving consumer preferences towards innovative mobility solutions. Signal generators play a crucial role in the automotive sector, facilitating the testing and diagnosis of various vehicle components to ensure safety, performance, and reliability. According to the European Automobile Manufacturers Association in May 2023, global motor vehicle production reached 85.4 million units in 2022, reflecting a substantial 5.7% increase compared to the previous year. Brand Finance plc reported approximately 78 million unit sales in the automobile sector for 2022, marking a significant 10% rise compared to both 2021 and 2020. Consequently, the burgeoning automotive industry is a key driver behind the growth of the signal generator market.

Prominent companies in the signal generator market are actively pursuing technological advancements, exemplified by innovations such as the SHFSG (Super-High-Frequency Signal Generator), tailored to meet market demands for higher operating frequencies and wider bandwidths. The SHFSG is a next-generation signal generator designed for qubit control in quantum computing. It enables the production of freely programmable pulse sequences for manipulating superconducting and spin qubits, achieving higher fidelities than previous methods. Zurich Instruments Ltd., a Switzerland-based test and measurement company, launched the SHFSG Signal Generator in March 2021. This innovative signal generator operates in the frequency range from DC to 8.5 GHz with a spurious-free modulation bandwidth of 1 GHz. It boasts features such as a broad frequency range, channels, scalability, integration and control, calibration, and time-saving attributes. The SHFSG's double superheterodyne approach for frequency up-conversion eliminates the need for mixer calibration, optimizing system tuning efficiency.

In December 2022, E-Space, a France-based satellite communications company, acquired CommAgility Ltd. for $14.5 million. This strategic acquisition enables E-Space to integrate CommAgility's 5G code into its space-based technologies, accelerating advancements in 5G NTN (Non-Terrain Networks), 5G-Advanced, and 6G innovations, thereby advancing its space-based connectivity solutions. CommAgility Ltd., a UK-based developer specializing in embedded signal processing, RF (radiofrequency) modules, and signal generators, contributes valuable expertise to E-Space's portfolio.

Major companies operating in the signal generators market are Agilent Technologies, Ametek Inc., Fluke Corporation, Teledyne Technologies Incorporated, Keysight Technologies, Advantest Corporation, Yokogawa Electric Corporation, Rohde & Schwarz GmbH & Co. KG, Anritsu Corporation, Berkeley Nucleonics Corporation (BNC), Rigol Technologies Inc., Good Will Instrument Co. Ltd., Averna Technologies Inc., EA Elektro-Automatik GmbH & Co.KG, Elcom Technologies Inc., Aeroflex Industries Ltd., Giga-tronics Incorporated, Hameg Instruments GmbH, Aim-TTi (Thurlby Thandar Instruments), Keithley Instruments LLC, RF-Lambda USA LLC, Link Microtek Ltd., Vaunix Technology Corporation, Holzworth Instrumentation Inc., Signal Forge.

Asia-Pacific was the largest region in the signal generators market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the signal generators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the signal generators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Signal generators are electronic instruments specifically crafted to generate repetitive waveforms, modulations, and signals for the testing and development of electronic devices and systems. These generated signals play a critical role in the testing, troubleshooting, and design processes of electronic or electroacoustic devices.

The primary categories of products within signal generators include general-purpose signal generators, special-purpose signal generators, and function generators. General-purpose signal generators are electronic devices designed to produce electrical signals with specific properties of amplitude, frequency, and wave shape. They encompass various technologies, including 2G, 3G, and 5G - 4G, and find applications in designing, testing, manufacturing, troubleshooting, repairing, and other related activities. These signal generators cater to diverse end-users, including telecommunications, aerospace and defense, automotive, electronics manufacturing, and healthcare.

The signal generators market research report is one of a series of new reports that provides signal generators market statistics, including signal generators industry global market size, regional shares, competitors with a signal generators market share, detailed signal generators market segments, market trends and opportunities, and any further data you may need to thrive in the signal generators industry. This signal generators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The signal generator market consists of revenues earned by entities by providing services such as waveform generation, frequency adjustment, amplitude control, frequency sweep, and signal output. The market value includes the value of related goods sold by the service provider or included within the service offering. The signal generator market also includes sales of oscillators, frequency control circuits, waveform generators, display panels, and output amplifiers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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