-- Partnerships and acquisitions will help vendors cater to a wider range of industries , notes Frost & Sullivan
MOUNTAIN VIEW, California, June 4, 2015 /PRNewswire/ -- The need for regulatory compliance across industries is imparting new momentum to the electromagnetic compatibility (EMC) testing equipment and services market in North America. Monitoring of radio frequency devices such as transmitters, receivers and industrial scientific medical equipment, as well as radiation and immunity testing requirements, stimulate adoption.
New analysis from Frost & Sullivan, EMC Test Equipment and Services Market in North America (https://www.frost.com/nd88), finds that the market earned revenues of $453.4 million in 2014 and estimates this to reach $607.6 million in 2021.
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"The rising popularity of electric vehicles and smart grid systems will unlock substantial opportunities for EMC test equipment and service vendors in North America," said Frost & Sullivan Measurement and Instrumentation Research Analyst Janani Balasundar. "The highest demand for EMC testing will stem from the dynamic wireless communication industry in the region."
However, manufacturers are being forced to reduce the cost of testing in the price-sensitive market. The ensuing commoditization of EMC test services limits service providers from expanding their portfolio. On the other hand, expensive EMC test equipment restricts service providers from serving a broad range of industries.
Creating awareness among customers on the costs involved in performing a reliable EMC test that will help improve product performance and eradicate interference is vital to market success.
"Moreover, partnerships and acquisitions are rampant and necessary for this market to continue to grow, owing to the breadth of expertise and capital investment required," opined Balasundar. "Established participants are acquiring smaller firms in order to decrease downtime, meet diverse customer demands, and make a mark in the North American market."
EMC Test Equipment and Services Market in North America is part of the Test & Measurement (ww2.frost.com/research/industry/measurement-instrumentation) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Test, Measurement, and Instrumentation Market, Global Integrated Automotive Test Solutions and its Future, North American Oil and Gas NDT Inspection Services Market, and End Users' Perspective on the Global Wireless Communication Test Equipment Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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EMC Test Equipment and Services Market in North America
SOURCE Frost & Sullivan