A spectrum analyzer is a measuring instrument that displays an electrical signal according to frequency of the electrical signal. Each frequency component contained in the input signal is displayed as a signal level corresponding to that frequency. The spectrum analyzer measures amplitude of an input signal against frequency within the full frequency range of the instrument.
With the advent of digital technologies, modern spectrum analyzers possess enhanced functionality along with added capabilities. In addition to this, increasing use of spectrum analyzers in different end-use industries such as electronics & semiconductor, IT & telecommunication, and aerospace & defense drives the global spectrum analyzer market. The global spectrum analyzer market is anticipated to reach value of US$ 2,439.8 Mn by 2026 from US$ 1207.5 Mn in 2017, expanding at a CAGR of 7.8% during the forecast period.
The global spectrum analyzer market has been broadly segmented based on type, form factor, frequency range, end-use industry, and region. Based on type, the market has been divided into swept spectrum analyzer, real-time spectrum analyzer, vector signal analyzer, and others. Based on form factor, the market has been classified into handheld, portable, benchtop, and others.
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Furthermore, in terms of frequency range, the market has been segmented into less than 6 GHz, 6GHz to 18 GHz, and more than 18 GHz. In terms of end-use industry, the market has been divided into electronics & semiconductor, IT & telecommunication, aerospace & defense, automotive & transportation, health care, and others. In terms of region, the global spectrum analyzer market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The swept spectrum analyzer segment holds a major share of the global spectrum analyzer market and it is expected to continue its dominance during the forecast period. Introduction of new wireless spectrum analyzers is driving the market. However, the market faces challenges, due to high costs of spectrum analyzers. High cost of spectrum analyzers is attributable to their advanced, complex features as well as technologies implemented to test and measure complex signals. Increasing implementation of 5G and LTE technologies is expected to provide significant opportunities to the spectrum analyzer market in the near future.
Considering rapid growth of the market, several players are investing in the spectrum analyzer market. In October 2018, ThinkRF introduced a new handheld real-time spectrum analyzer with GNSS capabilities for wireless applications such as coverage mapping, drive testing, direction finding, transmitter localization, propagation analysis, and vehicle-based spectrum monitoring.
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Some of the prominent players operating in the global spectrum analyzer market and profiled in the study are Advantest Corporation, Anritsu Corporation, B&K Precision Corporation, Giga-tronics Incorporated, Keysight Technologies, National Instruments Corporation, RIGOL Technologies Inc., Rohde & Schwarz GmbH & Co., KG, SAF Tehnika, and Tektronix U.K Limited.