T&M in Singapore: Key market research findings
- High levels of tech innovation propels market growth
- GTPE accounts for a majority of the market’s revenue
- Key vendors – Fluke, Keysight Technologies, National Instruments, Rohde & Schwarz, and Tektronix
Technavio’s market research analysts predict the T&M market in Singapore to grow at a CAGR of around 5% between 2016 and 2020. The growth of the test and measurement (T&M) market in Singapore is augmented by high levels of technological innovation and the presence of a pro-business environment in the country. Singapore has consistently featured in the World Economic Forum’s Global Competitiveness Report and Global Innovation Index as one of the most globally competitive and innovative of nations. The ability to attract foreign firms and superior talent and to leverage the region’s business-friendly and intellectual property-protective environment will lead to the growth of this market in Singapore.
The new market research report from Technavio presents a breakdown and analysis of the test and measurements segments based on the product.
“The data measurement market plays a vital role in spurring the growth of the test and measurement equipment market during the predicted period. Test and measurement equipment are used to ensure adequate capacity, performance, and reliability of data centers and their networking infrastructure. Equipment such as infrared imaging systems, electrical energy loggers, cable testing for both copper and fiber installations, return loss testers, and more sophisticated optical time-domain reflectometers are also used in data centers for their efficient functioning,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
During 2015, the GPTE segmented dominated the T&M market in Singapore by accounting for around 26% of the market’s revenue. General purpose test equipment (GPTE) comprises of different testing and measuring equipment such as oscilloscopes, multimeters, power meters, and clamp meters. Sectors such as manufacturing, power utility, processing, transmission, and R&D make use of such equipment to test their design prototypes or finished products and to check its conformity with the requirements and to ascertain whether the devices fulfill the intended purpose.
The key vendors in the market include Fluke, Keysight Technologies, National Instruments, Rohde & Schwarz, and Tektronix. The market is characterized by the presence of a number of vendors and is dominated by vendors offering advanced T&M solutions for telecommunication, electronic manufacturing, and general manufacturing sectors. Measurement and testing equipment manufacturers mainly depend on product differentiation and competitive pricing to gain a competitive edge over their competitors. Moreover, to introduce innovative products in the market, top vendors constantly invest heavily in R&D.
A more detailed analysis is available in the Technavio report, T&M Market in Singapore 2016-2020.
We can customize reports by other regions and specific segments upon request.
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