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Market research analysts at Technavio have predicted that the test and measurement market in Australia will grow steadily during the forecast period and will post a CAGR of almost 6% by 2020. The construction industry in Australia constitutes for almost 9% of the total workforce and is the third-largest industry in the country. An increase in income, growth in population, technological advances, and low-interest rates from banks have accelerated the demand for construction activities in this region. Moreover, government policies, such as land allocation, industrial and planning, and land allocation policies will also fuel construction activities. Engineering construction will contribute to the largest share of the construction sector and will be followed by the residential and non-residential building sectors. This increased investments in the construction industry will propel the demand for machinery manufacturing and construction equipment, which will, in turn, drive the demand for measuring tools and testing equipment in the coming years.
The region has witnessed an exponential increase in the number of internet users in the recent years. The high smartphone penetration will lead to an increase in demand for high bandwidth speed, which will subsequently result in the demand for the development of 5G networks. 5G uses unused frequency bands and will help in transporting large amounts of data. Recent test solutions developed for 5G applications require wide bandwidths with complex setups, which have the need to be calibrated regularly, fueling the demand for the introduction and adoption of advanced testing and measuring equipment.
Due to the presence of a several global and regional vendors, this market appears to be fragmented. Vendors have started to focus on offering application-specific products for different types of end-users. Although product differentiation and affordability are the primary strategies adopted by players to gain an edge over their competitors, manufacturing costs of these products are quite high and offering products at a lower price is challenging. As a result, vendors have started investing in R&D to introduce innovative products to help them gain a considerable share of the market.
The leading vendors in the market are -
The other prominent vendors in the market are Aplab, EXFO, Fastech Telecommunications, Ixia, JDS Uniphase, Qmax Test Equipment, Premier Measurement Solutions, Scientech Technologies, SPX, and Yokogawa Electric.
According to this market study, the GPTE market segment will account for more than 30% of the total market share by 2020 and will also dominate this market throughout the forecast period. Though power and energy and machine and equipment manufacturing are the two major end-users of GPTE in the region, the coming years will witness an increase in demand from the process manufacturing and aerospace and defense sectors. The increase in government investments in aerospace and defense and the estimated growth of the manufacturing industries will propel the demand for GPTE in the country.
This market analysis estimates that the manufacturing industry segment dominated the test and measurement instruments market, accounting for more than 29% of the total share of the market during 2015. The next few years will witness an exponential growth of several manufacturing industries such as chemical, steel, and textile industries and will, in turn, drive the growth of the test and measurement market in the region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by products
PART 07: Market segmentation by product with focus on each end-user (Sub-segment 1)
PART 08: Market segmentation by end-user
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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