Test and measurement instruments are required to ensure electrical, electronic, and mechanical devices are working properly throughout their life cycle. These measuring tools and equipment are imperative in conducting preventive maintenance on company equipment. The global market for these instruments is well developed and leading companies within this sector are frequently adding newer products to their product lines. The growth in the electrical and electronics industry and the increasing demand for smartphones are growing the market of measuring instruments. The market in developed and developing countries are analyzed based on two parameters: quality and price sensitivity. The market for test measurement systems in developed countries is more mature and therefore more emphasis is on the quality of the products. The market in developing countries is more price sensitive and is at its nascent stage.
The telecommunications industry is growing quickly in developing countries and, as the concept of smart cities gains acceptance by governments across the globe, it will be a driving force for the growth of the testing and measurement market.
Technavio’s test and measurement domain provides actionable intelligence about the industry and helps companies build successful strategies. Our portfolio covers many specialized areas in today’s market landscape, including general purpose test equipment, fiber optic test equipment, ethernet test equipment, and non-destructive test equipment.