The arbitrary waveform generator market is expected to grow from US$ 355.3 million in 2021 to US$ 624.4 million by 2028; it is expected to grow at a CAGR of 8.4% from 2022 to 2028.
The growing requirement for arbitrary waveform generators across various industries is compelling the key market players to develop advanced generators for both ease-of-use and enhanced performance. Advanced electronic technologies such as multiple-input multiple-output (MIMO) are being adopted by the manufacturers to offer a comprehensive solution for waveform generation. Berkley Nucleonics are among the companies that have come up with innovative solutions such as touch-screen interfaces and multi-channel handling capabilities, which are expected to add impetus to the market under study.
The AWG's RF-related applications, such as measuring the frequency response of bandpass filter, measuring intermodulation distortion of RF components, and measuring pulsed noise-testing, are widely used in the telecommunication industry. Owing to the increasing research and development in telecommunication and emerging 5G technology in various markets, there is a rising demand for AWG in the telecommunication industry. Thus, the ongoing advancement in the telecommunication industry worldwide is creating ample opportunities for the key arbitrary waveform generator market players to grow in the arbitrary waveform generator field.
The rising demand for dual channel Arbitrary Waveform Generator is one of the key factors driving the market. The dual-channel AWG is ideal for many applications, including simulation of radar receivers, creation of video signals, and quantum computing. B&K Precision, Keysight Technologies, and Rohde & Schwarz are among the major players offering dual-channel AWGs in their product portfolio. Another significant feature of a dual-channel AWG is its ability to combine the output of one channel with another to produce a composite output. Along with this, multi-channel based AWG is also affecting market growth positively. Multi-channel AWGs may find application in simulating complex, high-channel-count processes such as low-frequency vibration simulation, automotive sensors, AM/FM broadcast signals, PWM motor or fan control signals, pulse synchronized signals, pulse noise, and audio circuit; or devices such as speaker tests. Keysight Technologies, Tektronix, and Tabor Electronics are among the key players offering multi-channel AWGs.
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Arbitrary Waveform Generator Market: Strategic Insights
Market Size Value in US$ 355.3 million in 2021 Market Size Value by US$ 624.4 Million by 2028 Growth rate CAGR of 8.4% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Arbitrary Waveform Generator Market: Strategic Insights
| Market Size Value in | US$ 355.3 million in 2021 |
| Market Size Value by | US$ 624.4 Million by 2028 |
| Growth rate | CAGR of 8.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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The arbitrary waveform generators find application in embedded and semiconductor test applications such as clock source, characterization of logic devices, description of PLL Circuits, characterization of operational amplifiers, and timing margin test of AFE for CCD sensor.
The rising demand for AWGs in various sectors and the corresponding trade war are the factors compelling the governments in North America to support the manufacturing of electronic products within the region rather relying on imported electronic components from China. However, the on-going impact of the pandemic is significantly affecting the economic conditions in the region. There is a significant contradiction in electronics industry that as caused disruption across the electronics sector.
Similarly, the EU is more focused toward the growth of electronics and semiconductor industry, which is again boosting the sale of AWGs in the region. The Union is forming the EuroPAT-MASIP to reinforce the electronics and semiconductor industry. Also, the UK government announced US$ 91 million funding for semiconductor development. Apart from the aforementioned factors, stable economics such as UK, France, Germany, and Switzerland are expected to complement the adoption advanced electronics.
Further, in the European region, countries such as France, Germany, and Italy have high rate of adoption for advance technologies owing strong R&D and positive outlook of people and strong telecom infrastructure across the Europe which will help this AWG market to grow steady.
However, the population growth in Europe is very slow as compared to the other regions in the world. The region is characterized by high death rates and low birth rates. Due to these factors, ageing population is on the rise and there is a scarcity of working age group people. This is propelling the demand for health monitoring equipment across the Europe which is creating steady growth opportunities for the market players.
Impact of COVID-19 Pandemic on Arbitrary Waveform Generator Market
Most operations at the global level were suspended due to an increase in the number of COVID-19 cases. Countries across the world were compelled to redirect funds to improve their healthcare infrastructure. As a result, the electronic industry was also impacted. However, as countries began to relax the containment measures in 2021, the arbitrary waveform generator market started to experience positive growth.
Moreover, with the rise in FDIs and governmental support, the healthcare and telecom industry is actively emphasizing on modernizing their infrastructure with advanced technologies. This factor is expected to create lucrative opportunities for market players in this AWG market.
Lucrative Regions for Arbitrary Waveform Generator Providers
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Channel Based Insights – Arbitrary Waveform Generator Market
Based on channel, the arbitrary waveform generator market is segmented into single channel, dual channel, and multi-channel. The dual channel segment accounted for the largest arbitrary waveform generator market share in 2021 and is likely to continue its dominance during the forecast period owing to significant feature of a dual-channel AWG that it combines the output of one channel with another to produce a composite output.
The arbitrary waveform generator market size is segmented into channel, technology, bandwidth, application and geography. Based on channel type, the arbitrary waveform generator market analysis is further segmented into single channel, dual channel and multi-channel. By technology, the arbitrary waveform generator market size is categorized into direct digital synthesis AWG, variable-clock AWG, and combined AWG. In terms of bandwidth, the arbitrary waveform generator market analysis is divided into below 1 GHz, 1–5 GHz, 5–10 GHz, 10–25 GHz, 25–32 GHz, 32–50GHz, and above 50 GHz. From application point of reference, the market is fragmented into telecommunication, education, healthcare, electronics, and others. Based on geography, the arbitrary waveform generator market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
The players operating in the global arbitrary waveform generator market include B&K Precision Corporation, Keysight Technologies, Rohde&Schwarz, Tektronix, Inc., and Texas Instruments. Further, to get a holistic view of the entire market, regional and local players, such as Aeroflex Inc., Aplab Ltd., Fluke Corporation, Yokogawa Electric Corporation, and DynamicSignals LLC, were analyzed.
The arbitrary waveform generator market players focus on developing advanced and efficient systems. For instance:
- In 2022, Rohde & Schwarz released a unique 56 GHz and 67 GHz frequency options for the R&S SMW200A vector signal generator
- In 2021, B&K Precision introduced New Generation of Triple Output DC Power Supplies
- In 2021, Tektronix announced the release of their AWG70000B series of arbitrary waveform generators. Featuring two different models, the new series provides rapid-change capabilities to signal sequences with the goal of allowing engineers to quickly test a wide range of signals.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Channel, Technology, Bandwidth, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The telecommunication sector is one of the most innovative sectors worldwide. The tremendous progress in telecommunication technology is expected to impact the telecom manufacturing and service industries positively. With the advent of wireless technologies such as 5G networks, IoT and smart cities, AI, and diversified ecosystems, there is an increased need for precise and efficient arbitrary waveform generators to carry out specific critical equipment testing. The RF-related applications of an AWG such as measuring the frequency response of bandpass filter, measuring intermodulation distortion of RF components, and measuring pulsed noise-testing, are widely used in the telecommunication industry. Thus, the ongoing advancement in the telecommunication industry worldwide is creating ample opportunities for the key players to grow in the arbitrary waveform generator market.
The arbitrary waveform generators are widely used as test equipment across various industries. Since the wave shapes produced by the generators can be programmed independently by the user, they perform a wide variety of signal applications such as channel summing, synchronization, and noise generation. The demand for arbitrary waveform generators is rising with the increasing need for testing, measuring, and monitoring devices requiring high electronic precision. Since the volume and density of semiconductor components are on the rise in electronic devices, these generators are commonly used to test the functioning of every aspect of these components. In the aerospace & defense industry, the arbitrary waveform generator is ideal for sensor simulation in military and avionics communication, as well as system test applications having a large number of DC/AC signal sources. Therefore, higher adoption of electronic devices, increased demand from aerospace & defense industry, and ongoing advancements in communication technologies worldwide are bolstering the growth of the arbitrary waveform generator market.
The market was dominated by the Below 1GHz segment, which accounted for 22.7% of the total market share in 2020 and is expected to reach 22.0% of the market share by 2028. AWG below 1 GHz is the lowest bandwidth range offered by premium market players. The major manufacturers provide several advantages such as clean, low-distortion, stable, and reliable signals with better signal integrity, lower harmonic distortion, reduced jitter, variable bandwidth noise, and waveform summing and combining capability. For instance, Keysight Technologies offers an arbitrary waveform generator using Trueform technology with a maximum bandwidth of 120 MHz with a maximum sample rate of 1 GSa/s and an edge jitter below one ps. Similarly, the dual-channel 600 MHz, 2.5GSa/s high-performance arbitrary waveform generator, offered by Berkley Nucleonics Corporation, finds application in automotive, research, aerospace & defense, IoT, and semiconductors test industries.
GB&K Precision Corporation; BERKELEY NUCLEONICS CORPORATION; KEYSIGHT TECHNOLOGIES; Pico Technology; Rohde & Schwarz; SHF Communication Technologies AG; Tabor Electronics Ltd.; TEKTRONIX, INC.; Teledyne LeCroy; and Texas Instruments Incorporated are the key companies in the arbitrary waveform generator market.
Asia Pacific dominated the arbitrary waveform generator market in 2020 with a share of 33.3%; it would continue to dominate the market during the forecast period and account for 35.5% share by 2028. Europe is the second-largest contributor to the global arbitrary waveform generator market, followed by North America.
The global arbitrary waveform generator market was dominated by the telecommunications segment in 2020, which accounted for 28.3% of market share. The telecommunications segment is anticipated to continue its dominance during the forecast period as well. The segment is expected to capture a decent share of 26.8% of overall global arbitrary waveform generator market by 2028, growing at a CAGR of 7.6%. Numerous devices in the telecommunication sector widely use embedded systems and semiconductors for the transmission of signal and radio frequency-related applications. The arbitrary waveform generators find application in embedded and semiconductor test applications such as clock source, characterization of logic devices, description of PLL Circuits, characterization of operational amplifiers, and timing margin test of AFE for CCD sensor. In addition, these generators are used to measure the frequency response of the bandpass filter, measure the intermodulation distortion of RF Components, and pulsed noise-figure measurement. Owing to the increasing research and development in telecommunication and the emerging 5G technology in various markets, there is a rising demand for AWG in the telecommunication industry.
The List Companies - Arbitrary Waveform Generator Market
- B&K Precision Corporation
- BERKELEY NUCLEONICS CORPORATION
- KEYSIGHT TECHNOLOGIES
- Pico Technology
- Rohde & Schwarz
- SHF Communication Technologies AG
- Tabor Electronics Ltd.
- TEKTRONIX, INC.
- Teledyne LeCroy
- Texas Instruments Incorporated
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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