A signal generator is an electronic device, which generates signals that are used for testing, designing, and troubleshooting electronic device. Signal generator produces repeating or non-repeating signals in both, digital or analog formats. Signal generator can provide ‘ideal’ waveforms or it may add known, repeatable amounts, and types of distortion (or errors) to the signal it delivers. Signal generators have different applications in the electronics sector such as measurement verification, characterization, and stress/margin testing. Function and arbitrary waveform generator are the most popular and have high demand in signal generators, across industries. With the advent of computers, flexible, software-enabled, and programmable signal generators have replaced conventional signal generators that were embedded in hardware units.
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Signal Generators’ Ability to Provide Stable Wireless Signals for Telecommunication Applications is Driving Growth of the Market
Signal generator are used by various industries such as telecommunication, aerospace and defense, and automotive. Increasing demand for signal generators in telecommunication industry is one of the key factor driving growth of the market of signal generators. This is owing to the fact that signal generators provide high signal purity, create low noise, and give frequency stability in wireless communication networks. Wireless technology has been greatly influenced by signal generators due to the advent of cellular technologies such as 2G, 3G, and 4G that use signal generators for generating signals. Furthermore, signal generators are also used in other mobile technologies such as Code Division Multiple Access (CDMA), Global System for Mobile communications (GSM), Long Term Evolution (LTE), and Wideband Code Division Multiple Access (WCDMA) that is tested using ‘real-world’ signals. Increase in budgetary allocations of aerospace and defense industry also acts as one of the major growth drivers of the market of signal generators. This is due to use of signal generators in applications such as Radio Frequency & Intermediate Frequency (RF/IF) signal generation and Low Order (LO) substitution, which helps in achieving greater precision in avionic instruments. For instance, according to a 2018 report by Invest India (National Investment Promotion and Facilitation Agency) in India, the financial allocation for defense in budget of 2017-18 was nearly US$ 41 billion with US$ 13.3 billion allocated for capital expenditure. This was equivalent to 31.7 percent of the total budgetary allocation for all sectors put together.
Growing automotive industry is also one of the major growth drivers of the signal generators market. This is owing to the fact that signal generators are used for functional testing and optimization of engine control units (ECU) for automotive applications by simulating various automotive sensor signals such as pressure, temperature, speed, rotation, and angular position. For instance, according to a 2017 report by, India Brand Equity Foundation (IBEF), the Indian automotive industry (including component manufacturing) is expected to reach US$ 251.4-282.8 billion by 2026. Furthermore, signal generators are used in automotive applications to simulate crankshaft, camshaft, wheel, knock, and to check the working of automotive sensors such as position sensors, image sensors, and parking assist sensors, which are used in all modern day automobiles.
High Investment to Set Up and Maintain Signal Generators is Restraining Growth of the Market
High cost is one of the key restraints, which is adversely impacting growth of the signal generators market. Furthermore, lack of knowledge regarding the use of signal generators has led to minimalistic adoption of signal generators across numerous industries. Moreover, refusal of existing companies within the electronics sector to invest in such an advanced technology inhibits the growth of signal generator market.
Regional Analysis of Signal Generator Market
On the basis of geography, the global signal generator market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America and Europe are the leading market for signal generators. This is due to high presence of signal generator manufacturers such as Keysight Technologies, Inc., National Instruments Corporation, and Tektronix, Inc., in the regions. Use of signal generators in troubleshooting and repairing electronic devices coupled with increasing usage of electronic devices is expected to boost growth of the market. For instance, according to a report by Coherent Market Insights, in 2016, the U.S. electronic appliance sales accounted for about US$ 98.78 billion. Asia Pacific is expected to witness growth in signal generator market during the forecast period. This is owing to improving economy in countries such as India and China and increasing development in the telecommunication industries. For instance, according to a report by India Brand Equity Foundation (IBEF), India accounted for the second-largest telecom network in the world in March 2016, where urban tele-density stood at 154.01 percent and rural tele-density at 51.37 percent.
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Global Signal Generator Market: Competitive Landscape
Major players operating in Signal Generator Market include Keysight Technologies Inc., Rohde & Schwarz Gmbh & Co Kg, National Instruments Corporation, Anritsu Corporation, Tektronix Inc., Teledyne Technologies Incorporated, B&K Precision Corporation, Keithley Instruments Inc., Fluke Corporation, Stanford Research Systems, Good Will Instrument Co. Ltd., and Yokogawa Electric Corporation.