The Australian test and measurement equipment market is projected to grow at a rate of 4.8%. This growth can be attributed to several factors, including the increasing demand for wireless communication and networking solutions, the growing number of smartphone users, and the evolving standards for next-generation telecommunication equipment. Additionally, the semiconductor industry in New South Wales presents a significant opportunity for economic growth, with collaborations between the government, universities, and businesses. The Australian automotive industry has also seen a rise in the sales of electric vehicles, which contributes to the development of the test and measurement industry. MarketsandMarketsā¢, a growth consulting and program management company, assists organizations in the B2B space in monetizing new revenue streams [70f3c728].