With increasing usage of electronics (across industries) and stringent standards for quality, safety, and environmental, the demand for test and measurement (T&M) equipment is expected to rise in near future.
Test and measurement (T&M) equipment find application in the initial design, development, verification, maintenance, and repair of various electronic and mechanical products. Electronics industry is primarily considered to the growth driver of T&M equipment in the country. T&M equipment are used for testing and measuring in electronic devices such as cellphones, digital cameras, MP3 players, solar inverters, etc. According to TechNavio, the T&M equipment market in India is expected to grow at a CAGR of 13.24% over the period 2015-2019.
Test and measurement equipment market in India can be segmented into three product segments general purpose, wireless communications and fiber optic. The current market for general-purpose T&M equipment is estimated at worth over $ 200 million. Some of the leading vendors of T&M equipment are Agilent Technologies, Anritsu, JDS Uniphase, Rohde & Schwarz and Spirent Communications.
Some of the mechanical products that have the use of test and measurement equipment include turbines, automotive car suspensions, and aircraft propulsion systems. Depending on end-user requirements, T&M equipment use can vary from simple to complex automated devices. Test and measurement equipment enhance the efficiency, reliability, and accuracy of electronic/mechanical products.
Market opportunities
Some of the major drivers for T&M equipment industry include the increasing usage of electronics (across industries); growing need to validate the performance of equipment; and stringent standards for quality, safety, and environmental. In addition, the government initiatives such as Make in India, Smart Cities, indigenising defence equipment manufacturing, Digital India, etc are also pushing the demand for T&M equipment.
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Denne historien er fra December 2017-utgaven av Industrial Products Finder.
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