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Market research analysts at Technavio have predicted that the test and measurement market in South Korea will grow steadily at a CAGR of more than 4% by 2020. Due to the efficient performance of Li-ion batteries in various consumer and industrial products, there has been a significant increase in the domestic demand for Li-ion batteries. High investments from vendors and the shifting consumer focus toward electric vehicles (EV) have resulted in the bloom of the EV market, and this will also contribute to the growing demand for Li-ion batteries. Companies in the country like LG Chem and Samsung SDI are major suppliers of EV batteries, and they use various measurement and test instruments such as analyzers, load testers, and voltage testers to ensure the efficiency and durability of batteries.
From anticipatory braking to self-parking cars, semiconductors have found significant application in the automotive industry in the recent years. South Korea is the 5th largest producer of automobiles in the world and is also the second largest producer of semiconductors. As a result, there will be an increased number of automotive innovations that use semiconductors in the coming years, and this will mainly attribute to the increasing number of powered systems in automobiles. The semiconductor industry is one of the major end-users of test and measuring tools and the growth of the industry will drive the demand for this market.
The market is characterized by the presence of a several large and small-scale vendors and is dominated by conglomerates who have consolidated their position in the market. Larger vendors follow M&A practices that enable them to enhance their technological expertise. Vendors mainly depend on product differentiation and affordability to gain a competitive edge over their competitors. Also, vendors invest heavily in their R&D sectors and since small vendors lack the availability of huge capital for R&D investments, they find it difficult to compete with established vendors and result in getting acquired by large players.
The leading vendors in the market are -
The other prominent vendors in the market are Advantest, Anritsu, Ixia, National Instruments, Qmax Test Equipment, and SPX.
This market study estimates that accounting for a market share of almost 34%, the GPTE market segment will dominate the market by 2020 and will also dominate the industry throughout the forecast period. These equipment include oscilloscopes, arbitrary waveform generators, multimeters, and electronic counters and are used in industries, such as aerospace and defense, communications, electronics, mechanical engineering, and power. GPTE helps industries to examine the design prototypes or finished products, to check conformity with the required specifications, and also to ensure that the devices achieve the required purpose.
This market study estimates that the semiconductor industry accounted for more than 30% of the total shares of the test and measurement market in South Korea and also dominated this market during 2015. This region is the second largest producer of semiconductors in the world and continuous government incentives and private investments in facility expansions and R&D will fuel the growth of the semiconductor industry, which in turn, will result in the increased demand for measurement and testing equipment.
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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 drivers
PART 07: Impact of drivers
PART 08: Market challenges
PART 09: Impact of drivers and challenges
PART 10: Market trends
PART 11: Market segmentation by products
PART 12: Market segmentation by end-user
PART 13: Market segmentation by product under focus for each end-user
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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