"Actionable Insights to Fuel Your Growth"

Function Generator Market Size, Share & COVID-19 Impact Analysis, By Product Type (Analog and Digital), By Output Frequency (Up to 50 Mhz, 50–100 Mhz, and Above 100 Mhz), By Application (Aerospace, Defense & Government Services, Automotive, Energy, Wireless Communication and Infrastructure, and Others), and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI104357

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global function generator market size stood at USD 1.59 billion in 2019 and is projected to reach USD 2.30 billion by 2027, exhibiting a CAGR of 6.0% during the forecast period.


A function generator is a type of signal generator generating waveforms with common shapes such as sine waves, square waves, and triangular waves. Furthermore, these generators also help to vary the waveforms' characteristics, changing the pulse length and the ramps of the different edges of the triangular waveforms. Apart from generating the waveforms, this type of generator can also add a DC offset to the signal.


Unavailability of Financial Assistance to Industries amid  COVID-19 to Affect Market Growth


Unprecedented problems created by the COVID-19 pandemic have affected industrial operations worldwide. Different nations have introduced several combat measures such as social distancing rules and shutdown of various manufacturing & processing facilities. For instance, the sudden slump in global crude oil prices has led the international crude oil value to go negative in April 2020 for the first time in the history of the oil industry. It also has halted the rampant exploitation of any new reserves, barring the development of onshore and offshore structures, which has stabilized the deployment function generators. On the other hand, the halt of operations in capital-intensive industries such as electronics, automotive, aerospace, and oil & gas has led to a deficit in investments in new projects, impacting the manufacturing of these generators.


LATEST TRENDS


Request a Free sample to learn more about this report.


Growing Adoption of AI and Wireless Communications in Aerospace & Energy Sectors to Fuel Market Expansion


Wireless communications, artificial intelligence (AI), and automation are gaining wide popularity in the aerospace and energy sectors. Wireless communication systems have been equipped with satellite communication phones, mobile phones, broadband, and other internet facilities. These systems have electronic components such as band-pass filters, mic, and network scanners for active operations. Function generators are used to test these components' reliability and operational flexibility by simulating real-time operations in laboratory conditions. According to UBS Group AG, the artificial intelligence industry was valued at approximately USD 40 billion and is expected to grow at a 40% CAGR during 2020-2027. Progress in artificial neural networks has also driven the adoption of AI in various industries such as aerospace, healthcare, manufacturing, and automotive.


DRIVING FACTORS


Rapidly Increasing Energy Demand Worldwide to Propel Product Demand


Function generators are widely used in the energy sector for testing electronic components of several devices such as solar photovoltaic (PV) inverters, electronically-assisted drilling, and metering devices. The exponential rise in power demand, primarily across emerging economies, coupled with the development of new-generation distribution and transmission networks, will favor the demand for these generators market. Additionally, optimistic targets to deploy green energy technologies such as hydro, wind, and solar are likely to propel their adoption further. For instance, in September 2020, the U.S. Energy Information Administration (EIA) forecasted that the global energy consumption would rise by  50% by 2050, with the total intake in residential and commercial buildings rising from 91 quadrillion British thermal units (Btu) to 139 quadrillions Btu, reflecting an increase of approximately 65%.


Rising Demand from Aerospace Sector to Drive the Market


The demand for military equipment is on the rise as governments across the globe are constantly focusing on modernizing their defense capabilities in response to the rising security concerns. The uncertainties and the persistent complexities of the international security environment are anticipated to drive up global defense spending during the forecast period. For example, according to the Stockholm International Peace Research Institute (SIPRI), in 2019, total global military spending reached USD 1,917 billion, representing the largest annual growth since 2010 and an increase of 3.6% from 2018 levels. The biggest spenders, as per SIPRI data, were the US, China, India, Russia, and Saudi Arabia. This spike in spending indicates modernization and sophistication of military technologies across countries, which is primarily reflected by the electrification of weapon and communication systems. Function generators are used in the testing of satellite and navigation systems and also play a critical role in strengthening existing defense equipment as these devices provide efficient testing and repairing services to electronic weapon systems.


RESTRAINING FACTORS


High Cost of Function Generators May Obstruct Market Growth


A  function generator is a low-frequency electronic testing device that is primarily used in academic laboratories for research and development purposes. However, these generators require an oscilloscope, fixed and variable power supply, breadboard, and USB port. The cost of each device is high, and these generators also require more space. This factor is likely to hamper the function generator market growth.


SEGMENTATION


By Product Type Analysis


Analog Type Generator to Hold Significant Share Backed by  Efficient Designs and Better Load Bearing Capacities


Based on type, the global market is segmented into analog and digital. The analog type segment is projected to lead the market during the forecast period due to the simpler construction and low costs of analog generators. They are widely used in the education and research industries, specifically for laboratory experiments.


By Output Frequency Analysis


Up to 50 MHz Segment to Grow at a High Pace


Based on output frequency, the market is categorized into Up to 50 Mhz, 50–100 Mhz, and Above 100 Mhz. The Up to 50 Mhz segment accounted for the major market share in 2019 as generators with this capacity are primarily used in electronic testing and academic laboratories. In the automotive industry, self-driving cars' development has increased the demand for sensors and radar-based systems. These sensors and radars are majorly based on an ultrasonic frequency having a spectrum range of around 40 kHz.


By Application Analysis


To know how our report can help streamline your business, Speak to Analyst


Increasing Defence Expenditures to Develop New Rockets & Weapons to Augment Market Size


Based on application, this market has been segregated into aerospace, defense & government services, automotive, energy, wireless communication and infrastructure, and others. The aerospace, defense & government services segment accounted for the major share of the market in 2019 and is anticipated to maintain its leading position during the forecast period due to the rising use of these type of generators in testing and calibration operations. The aerospace and defense industry uses various electronic equipment, including satellite system components, radio, amplifiers, and filters for robust communication to ensure operational safety. These generators are also widely used to test the communication links between critical devices such as sensors and radars and the main computing unit.


REGIONAL INSIGHTS


Asia Pacific Function Generator Market Size, 2019 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The market has been analyzed across five key regions, namely, North America, Asia Pacific, the Middle East & Africa, Europe, and Latin America. Asia Pacific is anticipated to hold a significant portion of the function generator market share on account of the expanding aerospace and automotive sectors, coupled with the growing energy demand. Increasing investments by governments and private bodies to boost the electronics manufactures sector will also favor the regional expansion of the market. Additionally, increasing wireless communication across the Southeast Asian nations is also likely to fuel regional market growth.


Latin America holds potential growth opportunities for market players as the region hosts the second and third largest business aircraft markets by fleet size, with Mexico’s fleet at 988 and Brazil’s at 782, according to AMSTAT, which is expected to bolster the need for function generators in the Latin America market.


The Middle East & Africa is a prominent region indulged in the business of oil & gas as it holds 50% of the world's proven conventional natural gas reserves. Gulf countries have the fastest-growing energy demand owing to the increasing consumption of power, seasonal volatility, and rapid industrial growth. These factors are anticipated and expected to drive the application of these type of generators in the Middle East & Africa.


KEY INDUSTRY PLAYERS


Keysight Technologies to Focus on Expanding Its Product Line and Market New Products


Keysight Technologies, Inc. is a manufacturer of electronic measurement equipment. The company’s solutions help optimize networks and produce electronic devices/products at lower costs with design simulation, prototype validation, manufacturing test, and optimization in networks and cloud environments. Its products are widely used in the communications ecosystem, aerospace and defense, automotive, energy, semiconductor, and other industries related to electronics. In June 2020, Keysight acquired Eggplant from The Carlyle Group. Eggplant is an industry-leading software test automation platform provider company. Eggplant's digital automation Intelligence platform can test technologies and operating systems from the user interface to application programming interfaces (APIs) to the database.    


The function generator market has witnessed a large number of small and large players delivering products for numerous applications, which are shaping the competitive landscape of the market. These participants are operating at the national and regional levels, with the aim to cater to the needs of overseas clients effectively. However, some of the established organizations such as Keysight Technologies, Good Will Instrument Co., Ltd., Teradyne Inc., Tektronix, Inc., and National Instruments Corporation, among others, possess a significant integration with local sales partners to hold a substantial global presence.


LIST OF KEY COMPANIES PROFILED:



  • Keysight Technologies (U.S.)

  • National Instruments Corporation (U.S.)

  • GW Instek (Taiwan)

  • KIKUSUI ELECTRONICS CORPORATION (Japan)

  • Teradyne Inc. (U.S.)

  • Tektronix, Inc. (U.S.)

  • B&K Precision Corporation (Japan)

  • Fluke Corporation (U.S.)

  • Teledyne Technologies (U.S.)

  • RIGOL Technologies (China)

  • PROMAX ELECTRONICA S.L (Spain)

  • Tabor Electronics Ltd.(Israel)

  • Chauvin Arnoux, Inc. (France)

  • Scientech Technologies Pvt. Ltd. (India)

  • Shijiazhuang Suin Instruments Co., Ltd. (China)


KEY INDUSTRY DEVELOPMENTS:



  • In July 2021, EA Elektro-Automatik has offered a series of bidirectional DC power supplies and regenerative DC loads for testing of fuel cells stacks. The power supplies and ELR electronic load have a function generator that simplifies the performance, and durability testing of fuel cells.

  • In March 2021, Shijiazhuang Suin Instrument Co., Ltd has launched its 4 channels function/arbitrary waveform generator series. The 4 channels are independent and have complete equivalent functions, which makes them suitable instruments for everyday work.

  • In February 2021, Tabor Electronics has announced the new addition of RF Arbitrary Waveform Generator to the Proteus series product line. The new series offers the highest performance of direct digital RF generators and serves a major purpose in aerospace applications.

  • In January 2020, GW Instek has introduced a new series for multi-channel function generators. GW Instek has augmented the MFG-2220 HM which allows the highest frequency range of dual-channel signal generators.


REPORT COVERAGE


An Infographic Representation of Function Generator Market

To get information on various segments, share your queries with us



The function generator market report presents a comprehensive assessment of the industry by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views to formulate the market research report with market trends. Furthermore, the report covers a detailed analysis and information as per market segments, including product types, output frequency, applications, and regions, helping our readers to get a comprehensive overview of the global industry.


REPORT SCOPE & SEGMENTATION











































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



 


Segmentation



By Product Type



  • Analog

  • Digital



By Output Frequency



  • Up to 50 Mhz

  • 50–100 Mhz

  • Above 100 Mhz



By Application



  • Aerospace, Defense & Government Services

  • Automotive

  • Energy

  • Wireless Communication and Infrastructure

  • Others



By Region



  • North America (By Product Type, Output Frequency, Application and By Country)





    • The US (By Application)

    • Canada (By Application)





  • Europe (By Product Type, Output Frequency, Application and By Country)





    • The UK (By Application)

    • Germany (By Application)

    • France (By Application) 

    • Italy (By Application)

    • Spain (By Application)

    • Russia (By Application)

    • Rest of Europe (By Application)





  • Asia Pacific (By Product Type, Output Frequency, Application and By Country)





    • China (By Application)

    • India (By Application)

    • Japan (By Application)

    • South Korea (By Application)

    • ASEAN (By Application)

    • Rest of Asia Pacific (By Application)





  • The Middle East & Africa (By Product Type, Output Frequency, Application and By Country)





    • GCC (By Application)

    • South Africa (By Application)

    • Rest of the Middle East & Africa (By Application)





  • Latin America (By Product Type, Output Frequency, Application and By Country)





    • Brazil (By Application)

    • Mexico (By Application)

    • Argentina (By Application)

    • Rest of Latin America (By Application)





Frequently Asked Questions

Fortune Business Insights says that the global function generator market size was USD 1.59 billion in 2019 and is projected to reach USD 2.30 billion by 2027.

In 2019, the Asia Pacific function generator market value stood at USD 0.69 billion.

Registering a CAGR of 6.0%, the function generator market will exhibit moderate growth over the forecast period (2020-2027).

The analog segment is anticipated to lead the market during the forecast period.

Growing aerospace and defense expenditures and increasing investments in wireless communication systems are the major factors driving market growth.

Keysight Technologies, National Instruments Corporation, Teradyne Inc., and Tektronix, Inc. are the key players operating across the market.

Asia Pacific dominated the market in terms of share in 2019.

Function generators have a simple construction structure and fewer costs, as a result of which they are widely used in the testing of wireless equipment, test performance, and network management solutions in the aerospace industry.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Nov, 2020
  • 2019
  • 2016-2018
  • 230

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $6850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

Sumitomo
GM
Itochu
Hitachi
Caterpillar

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X