Below are some of the key findings from the industrial installation testers market research report
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Global industrial installation testers industry overview
One of the critical drivers for the industrial installation testers market is the growing compatibility of installation testers with portable devices for efficient data transfer. Installation testers generally have a memory capacity of 1,000 measurement results. The transfer of information from testers to other devices is a difficult task. Due to technological advances and the need for the faster transfer of data, manufacturers of testing devices have started developing applications to make devices compatible with smartphones and other devices. These applications facilitate faster information transfer.
Additionally, the measurement results can be accessed anywhere because they are saved within the application. Such applications improve work efficiency and are expected to improve the growth of the market. The industrial installation testers market is projected to grow at a CAGR of over 4% during the forecast period.
Miniaturization of testing devices is identified as one of the key market trends that will gain traction in the coming years. Miniaturization refers to the production of smaller device components and products. This technology aids in improving the usability of devices and reducing the storage space required by them. Industrial users are demanding devices which are small and do not compromise on performance. Installation testers are large when compared with other testing devices such as insulation testers, cable meters, and voltage testers. Manufacturers are trying to reduce the size of installation testers using miniaturization technology. They are investing in R&D activities that could be a driver for the market growth in the future.
Top industrial installation testers companies covered in this market research report
The industrial installation testers market is moderately fragmented with multiple players occupying the market share. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this industrial installation testers industry analysis report is designed to aid clients identify new growth opportunities and make informed business decisions.
The report offers a complete analysis of various companies including:
- Chauvin Arnoux Metrix
- Fortive
- Martindale Electric
- Megger
- Metrel
- Seaward Electronic
Industrial installation testers market segmentation based on geographic regions
The APAC region contributed the highest industrial installation testers market share during 2017. The electrical installation testers market is expected to witness growth in this region during the estimated period due to the presence of various countries that are major hubs for discrete industries such as the automotive, semiconductor, and electronics industry.
Industrial installation testers market segmentation based on products
- Low-voltage industrial installation testers
- Medium-voltage industrial installation testers
The low-voltage industrial installation testers segment will account for the highest growth in the market. The rising adoption of these testers in discrete industries including the electronics and semiconductor industry will drive the growth prospects for the electrical installation testers market in the forthcoming years. Additionally, the report will also provide an accurate prediction of the contribution of the various product segments to the growth of the industrial installation testers market size.
Key highlights of the global industrial installation testers market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the industrial installation testers market during the next five years
- Precise estimation of the global industrial installation testers market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the industrial installation testers industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of the industrial installation testers companies
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