Test and measurement in South Korea: Key market research findings
- Increased R&D initiatives to drive market growth
- GPTE accounts for a majority of the market’s revenue
- Key vendors – Fluke, Keysights Technologies, Rohde & Schwarz, Tektronix, and Yokogawa Electric
Technavio’s market research analysts predict the test and measurement market in South Korea to grow at a CAGR of around 5% between 2016 and 2020. The market’s growth can be accredited to the large-scale R&D activities in the country. Extensive investments in R&D will project the country as a global leader in information and communication technology and patent activity. South Korea has already evolved into an innovation hub with high R&D activities in numerous sectors such as consumer electronics, automotive, and telecommunication.
The new market research report from Technavio presents a breakdown and analysis of the test and measurement segments based on the product.
“The emergence of 5G is an upcoming trend in the test and measurement market in South Korea. Growing number of mobile users, rising load on mobile networks, and the introduction of IoT have led to the development of 5G networks that allow the use of unused frequency bands, such as the V band, to transport significant amounts of data. These can deliver several multiple-input and multiple-output (MIMO) streams with a single device connected to multiple sites at the same time, achieving a downlink throughput of as much as 100%,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
During 2015, the general purpose test equipment (GPTE) segment accounted for almost 52% of the market’s revenue to become the primary revenue generator. The volume sales of consumer electronics are expected to showcase substantial growth during the forecast period owing to the emergence of new niche groups. The demand from the automotive and aerospace and defense industries is also expected to witness an upsurge in the coming years. The growth of the GPTE market is fueled primarily by the demand for integrated test equipment, which has increased significantly.
The primary vendors in the test and measurement market in South Africa include Fluke, Keysights Technologies, Rohde & Schwarz, Tektronix, and Yokogawa Electric. 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 peers.
A more detailed analysis is available in the Technavio report, Test and Measurement Market in South Korea 2016-2020.
We can customize reports by other regions and specific segments upon request.
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