Global Signal Generators Market Trends & Forecasts: What’s Driving Growth Through 2034?

How has the signal generators market evolved, and where is it heading next?

The signal generators market size has grown strongly in recent years. It will grow from $1.5 billion in 2024 to $1.62 billion in 2025 at a compound annual growth rate (CAGR) of 8.0%.  The growth in the historic period can be attributed to growing telecommunication industry, increasing demand for electronic devices, advancements in aerospace and defense, globalization of electronics manufacturing, 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 $2.1 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%.  The growth in the forecast period can be attributed to 5G implementation, emergence of new communication standards, expanding applications in automotive sector, integration of AI (artificial intelligence) and ML (machine learning), demand in healthcare electronics. Major trends in the forecast period include technological advancements, increased emphasis on R&D, renewable energy technology advancements, increased focus on cybersecurity, increased adoption of remote testing solutions.

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What key drivers have fueled the signal generators market’s development over the years?
The growing automotive industry is expected to propel the growth of the signal generator market going forward. The automotive industry refers to the collection of companies, organizations, and activities involved in the design, development, manufacturing, and other related activities of motor vehicles. The demand for automobiles continues to be robust, driven by factors such as improved fuel efficiency, autonomous driving capabilities, and shifting consumer preferences towards mobility solutions. Signal generators are used in the automotive industry for testing and diagnosing various components of vehicles and to ensure the safety, performance, and reliability of modern vehicles. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Furthermore, according to Brand Finance plc, a UK-based brand valuation company, the automobile sector achieved approximately 78 million unit sales in 2022, marking a substantial 10% increase compared to previous years. Therefore, the growing automotive industry is driving the growth of the signal generator market.

What is the segmentation for the signal generators market?
The signal generators market covered in this report is segmented –
1) By Product: General Purpose Signal Generator, Special Purpose Signal Generator, Function Generator
2) By Technology: 2G, 3G, 5G - 4G
3) By Application: Designing, Testing, Manufacturing, Troubleshooting, Repairing, Other Applications
4) By End User Industry: Telecommunication, Aerospace And Defense, Automotive, Electronics Manufacturing, Healthcare

Subsegments:
1) By General Purpose Signal Generator: Analog Signal Generators, Digital Signal Generators
2) By Special Purpose Signal Generator: Arbitrary Waveform Generators (AWG), Vector Signal Generators (VSG), RF Signal Generators
3) By Function Generator: Low-Frequency Function Generators, High-Frequency Function Generators

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Who are the most influential companies in the signal generators market?
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

What are the top industry trends projected to impact the signal generators market?
Major companies operating in the signal generator market are focusing on the development of innovative products such as next-generation vector signal generator to gain competitive edge. A next-generation vector signal generator is an advanced device that produces precise, complex modulated signals for testing and evaluating communication systems, featuring enhanced capabilities for signal fidelity, bandwidth, and versatility in various applications. For instance, in September 2023, Keysight Technologies Inc., a US-based electronics company, launched the N5186A MXG Vector Signal Generator, which operates from DC to 8.5 GHz with a modulation bandwidth of 960 MHz per channel. This compact 2U device supports up to four channels and features direct digital synthesis (DDS) technology for minimal signal distortion. An embedded reflectometer enhances setup efficiency, while its low phase noise ensures high-fidelity signal production, making it suitable for complex applications in commercial and aerospace defense sectors.

What are the major regional insights for the signal generators market, and which region holds the top position?
Asia-Pacific was the largest region in the signal generators market in 2024. 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.

What Does The Signal Generators Market Report 2025 Offer?
The signal generators market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.

Signal generators refer to electronic instruments designed to create repetitive waveforms, modulations, and signals to test and develop electronic devices and systems. These generated signals are used for testing, troubleshooting, and designing electronic or electroacoustic devices.

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