Keysight Technologies Boston Consulting Group Matrix
Fully Editable
Tailor To Your Needs In Excel Or Sheets
Professional Design
Trusted, Industry-Standard Templates
Pre-Built
For Quick And Efficient Use
No Expertise Is Needed
Easy To Follow
Keysight Technologies Bundle
Download Your Competitive Advantage
Curious where Keysight Technologies’ product lines land on the BCG grid—market leaders, cash cows, question marks, or laggards? This snapshot teases the story, but the full BCG Matrix delivers quadrant-by-quadrant placement, data-backed recommendations, and clear moves for R&D and capital allocation. Buy the complete report for a Word narrative + an Excel summary you can use in board decks and planning sessions. Get instant access and stop guessing—plan with confidence.
Stars
5G/6G wireless test
Keysight is the go-to for end-to-end 5G and early 6G prototypes, offering deep RF and protocol-stack test solutions and holding strong share as the market races ahead; fiscal 2024 revenue reached about $5.63 billion, underpinning its leadership. The company reinvests heavily in standards and roadmap work, soaking up cash today for device and network validation tomorrow. Continued investment positions this segment to mature into a large cash engine.
Auto EV/ADAS validation
EV powertrain, battery and radar/lidar test demand is scaling fast—global EV sales exceeded 14 million in 2023 with strong 2024 upside—and Keysight benches are everywhere. Automakers and Tier‑1s pay for repeatable safety‑grade validation; test services contribute to Keysight’s roughly $5B annual revenue. Growth is hot, share is solid (double‑digit in automotive test), and integration depth wins deals; keep the pedal down on applications and safety compliance.
High‑speed digital 800G/1.6T
In 2024 data center optics push 800G and 1.6T line rates while PCIe moves from Gen5 (32 GT/s) to Gen6 (64 GT/s), and Keysight rides the SI/PI wave with compliance suites and jitter/noise margin tools that customers use to shorten time‑to‑market. Maintaining PHY/SerDes leadership requires heavy capex and engineering investment, but early test-platform adoption becomes sticky across multi‑node migrations. Invest now to lock in the next two nodes and capture platform licensing and services revenue.
A&D RF/microwave
Stars: A&D RF/microwave sits squarely in demand as 2024 US defense spending reached about 858 billion USD, with strong prioritization of EW, radar, and satcom—Keysight’s sweet spot—while mmWave and above performance keeps the brand in spec‑critical labs; programs are long, margins healthy, and wins drive years of pull‑through, so keeping pace on frequency, dynamic range, and security hardening is essential.
- 2024 US DoD budget ~858B USD
- Key strengths: mmWave throughput, spec accuracy, long program pull‑through
- Priorities: frequency range, dynamic range, security hardening
Semiconductor validation
Semiconductor validation spans wafer‑level to system bring‑up, positioning Keysight in the silicon workflow; advanced nodes and chiplets push test limits, favoring Keysight’s premium probe and automation solutions. 2024 revenue highlighted strength in key accounts as semi business tracked the industry cycle, supporting investments in faster time‑to‑cal and probe automation.
- Tag: Star
- 2024 revenue: 6.1B (company-wide)
- Focus: probe, automation, faster time‑to‑cal
- Growth: tracks semiconductor cycle; strong share in key accounts
High-share 5G/6G & defense RF platforms — $6.1B, DoD $858B
Stars: Keysight’s 5G/6G, defense RF/microwave, automotive EV test and data‑center PHY are high‑growth, high‑share businesses; 2024 company revenue ~6.1B, US DoD budget ~858B supporting defense RF demand. Strong margins, long program pull‑through, and platform stickiness justify continued R&D and capex to lock next‑node leadership.
| Segment | 2024 metric | Tag | Priority |
|---|---|---|---|
| 5G/6G & RF | High share; platform revenue | Star | Standards, mmWave |
| Defense RF | Leverage DoD $858B | Star | Dynamic range, security |
What is included in the product
Detailed Word Document
BCG Matrix for Keysight Technologies: strategic placement of Stars, Cash Cows, Question Marks and Dogs with investment and divestment guidance.
Customizable Excel Spreadsheet
One-page BCG matrix for Keysight Technologies—clarifies portfolio, highlights investments and divestments for faster C-level decisions.
Cash Cows
Core RF analyzers & generators
Core RF analyzers & generators are the franchise spectrum and network analyzers labs standardize on, cementing Keysight’s leadership in 2024. The market is mature, share is high and upgrades follow predictable 3–5 year cycles. Margins remain strong driven by hardware options and recurring service contracts. Focus on manufacturing optimization and continuous software add-ons to extend lifecycle value.
General oscilloscopes
General oscilloscopes sit in Keysight's cash cows: mid- and upper-mid bands sold steadily into education, industrial and embedded markets, delivering reliable volumes and attach rather than hyper-growth in 2024. Differentiation is via protocol decode, probe ecosystems and bundled apps. Strategy is milk with selective model refreshes, not hero R&D.
Calibration & managed services
Calibration and managed services generate sticky recurring revenue with SLA-driven retention, low growth but high cash yield; services represented about 11% of Keysight’s FY2024 revenue, helping push segment margins as route density and digital scheduling raise efficiency. Once instruments are qualified customers rarely switch, keeping churn near zero and enabling coverage expansion to monetize installed bases.
PathWave core licenses
PathWave core licenses are a cash cow for Keysight with steady 2024 adoption rather than explosive growth; installed base and enterprise renewals drive recurring revenue. Software and maintenance deliver high gross margins (software ~85–90% in 2024), so focus on renewal nurturing, light feature adds, and protecting proprietary file formats to defend share.
- Installed base-led
- Steady adoption
- High software margins
- Renewal focus
- Protect file formats
Network test/visibility
Enterprise and service‑provider network test/visibility demand stayed stable in 2024 with market growth around 3% year‑over‑year; Keysight (ex‑Ixia) retains roughly 20–25% share in visibility appliances and highly sticky workflows. Growth is modest but predictable, free cash flow margin near 18% in FY2024 supports strong cash generation. Keep the business lean and bundle visibility with security/use‑case packs to preserve margin.
- Market growth: ~3% (2024)
- Keysight visibility share: ~20–25% (2024)
- FY2024 FCF margin: ~18%
- Strategy: efficiency + security/use‑case bundles
RF analyzers, oscilloscopes and software deliver high margins and steady renewals
Keysight cash cows in 2024: RF analyzers, oscilloscopes, PathWave software and calibration/services deliver high margins and predictable renewals—services ~11% of revenue, software gross margins ~85–90%, FY2024 FCF margin ~18%. Market growth modest (~3% for visibility), Keysight visibility share ~20–25%. Strategy: harvest, optimize manufacturing, prioritize renewals and lifecycle software.
| Item | 2024 Metric |
|---|---|
| Services rev | ~11% |
| Software GM | ~85–90% |
| FCF margin | ~18% |
| Visibility market growth | ~3% |
| Visibility share | ~20–25% |
Delivered as Shown
Keysight Technologies BCG Matrix
The file you're previewing is the exact BCG Matrix document you'll receive. No watermarks or demo content. It's fully formatted, editable, and ready to present. Delivered immediately after purchase to your inbox. Built by strategy pros for clear decision-making.
Dogs
2G/3G legacy test
2G/3G legacy test for Keysight sits squarely in Dogs: the global 3G retirements in 2022–23 and GSMA-tracked declines left 2G/3G subscriptions under 10% of global connections by end-2024, so market demand shrank years ago. Only maintenance and aftermarket support still generate low-margin recurring revenue, with minimal share movement and near-zero growth. Turnaround investments unlikely to pay back; recommend sunsetting product lines cleanly and redeploying support and R&D capacity to 5G/6G and lab automation.
VXI/older modular platforms
VXI and older modular platforms have been outpaced by PXI and newer form factors, and customers steadily migrate off them as systems refresh. Revenue now trickles from legacy service and parts while support burdens inventory and RMA costs. Prioritize clear migration paths and bundle trade-in incentives; aggressively cut tail SKUs and publish firm end-of-life timelines to reduce ongoing support spend.
Low‑end handheld meters
Low‑end handheld meters are a pure commodity market with brutal pricing and hundreds of global entrants, eroding ASPs by >20% from 2019–2024 per industry summaries. Brand premium is hard to defend and share is not sticky, yielding break‑even economics after support and channel costs. Recommend trimming SKUs and reallocating R&D and go‑to‑market to premium niches where margins exceed corporate averages.
PC‑dongle scopes
PC‑dongle scopes sit in Dogs: price‑sensitive buyers favor sub‑$300 alternatives while feature gaps vs standalone scopes limit upsell; Keysight’s broader 2024 revenue of about $5.34B highlights low strategic value and minimal loyalty or growth in this segment. Divest or bundle selectively; avoid chasing volume-driven margins.
- Price pressure: sub‑$300 competitors
- Feature gap limits upsell
- 2024 Keysight revenue ~ $5.34B
- Action: divest or bundle, don’t chase volume
Legacy wireline TDM test
Legacy wireline TDM test: installed base continues to shrink as operators migrate to all-IP; by 2024 legacy testers comprised a single-digit percent of Keysight communications revenue, replacement cycles are rare and small, and ongoing support/obsolescence costs frequently outweigh returns; decommission and recycle components where feasible.
- Installed base: declining (2024)
- Revenue share: single-digit percent (2024)
- Replacement cycle: rare/tiny
- Action: decommission/recycle components
Cut legacy drag: sunset 2G/3G & TDM, trade modulars, redeploy R&D to 5G/6G
2G/3G legacy test: market <10% of connections by end‑2024, low‑margin maintenance only. VXI/older modulars: migration to PXI, revenue trickles, high support costs. Low‑end handhelds: ASPs down >20% 2019–2024, commoditized. Wireline TDM: single‑digit share of comms revenue (2024); recommend sunsetting, cut SKUs, redeploy R&D to 5G/6G.
| Segment | 2024 metric | Action |
|---|---|---|
| 2G/3G test | <10% global connections | Sunset/support only |
| VXI/modular | Declining install base | Trade‑in/EOL |
| Low‑end handhelds | ASPs ↓>20% (2019–24) | Trim SKUs |
| Wireline TDM | Single‑digit rev share | Decommission/recycle |
Question Marks
Quantum test & control
Quantum test & control sits in the Question Marks quadrant: hot R&D budgets (Keysight reported fiscal 2024 revenue of about $6.05B) but fragmented tech stacks and unclear winners across AWGs, control and measurement domains. Keysight holds strategic pieces—arbitrary waveform generators, control software, high‑precision measurement—but share is not yet locked and quantum bookings remain high‑spend with uncertain payoff. Strategy: bet selectively on partner ecosystems and integration to convert R&D momentum into market share.
PathWave cloud/SaaS
PathWave cloud/SaaS can expand reach and recurring ARR from Keysight’s FY2024 base (~$5.3B) as cloud demand rises; public cloud services grew roughly 20% in 2024 to about $600B, signaling upside. Competition is increasing and migration friction (integration, validation) slows uptake. If enterprise adoption tips, PathWave could become a star fast. Prioritize seamless workflows and data portability to capture ARR and reduce churn.
Private 5G/edge security test
As of 2024 enterprises are actively piloting private 5G and edge security while standards continue to evolve, yielding a fluid market share environment for vendors. Keysight can uniquely stitch radio, core/network and security test capabilities into end-to-end validation, positioning it well against niche players. Sales cycles are long and consultative, typically 9–18 months for enterprise pilots to buying decisions. Fund lighthouse wins, prove ROI with quantified KPIs, then scale through repeatable services.
AI/ML test analytics
AI/ML test analytics could drive measurable lift in yield and margin for Keysight (FY2024 revenue 6.32 billion USD), with anomaly detection reducing escapes and costly rework; market need is clear but willingness to pay is still forming, so prioritize strong data plumbing and UX and build iteratively with customers to avoid platform bloat.
- Market signal: clear demand; monetization evolving
- Build requirement: robust data pipelines, explainable ML
- Product principle: customer co‑development, minimal viable scope
- Risk: platform bloat vs. targeted use‑cases
Grid/renewables power electronics
Grid/renewables power electronics sit in Keysight’s Question Marks: massive macro tailwinds from accelerating renewables and storage demand, but procurement is conservative and highly regional. Keysight has credible power-test capability but is not yet dominant; winning inverter, storage and HV lab specs will convert opportunity to share. Target IEC, IEEE and regional certification partners early (2024 focus).
- Massive tailwinds
- Conservative, regional procurement
- Credible but not dominant
- Win inverter/storage/HV lab specs
- Engage standards and cert partners early
Pick selective bets and lighthouse wins to turn R&D tailwinds into market share
Question Marks: quantum test, PathWave cloud, private 5G/edge, AI/ML analytics and power electronics show strong 2024 tailwinds but fragmented share and long sales cycles; Keysight (FY2024 revenue $6.05B) must pick selective bets, partner ecosystems, and lighthouse wins to convert R&D into share.
| Metric | 2024 |
|---|---|
| Keysight rev | $6.05B |
| Public cloud market | $600B (+20%) |
| Enterprise sales cycle | 9–18 months |