Emerging Technologies Enable Smarter Monitoring of Assets, Push Industrial Testing, Inspection and Monitoring Market
- Mechanical testing driven by supporting Mega Trends in consumer electronics, big data and beyond-BRIC markets, finds Frost & Sullivan
MOUNTAIN VIEW, California, Dec. 4, 2014 /PRNewswire/ -- Increased emphasis on product quality, reliability and safety has boosted investments in new testing and inspection technologies. The convergence of industries and products has also given rise to a range of innovative test solutions. This trend is further driven by the requirements of Generation Y, which is generally more inclined towards communication, media and digital technologies. As a result, product development strategies of test equipment vendors will cater to their needs, aiming incorporate emerging technologies like touch-screens, intuitive software, and even interactive voice response.
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New analysis from Frost & Sullivan, Impact of Mega Trends on the Mechanical Test Market, identifies and understands how key Mega Trends such as big data, emerging economies beyond BRIC (Brazil, Russia, India and China), and the rise of Gen Y will influence the mechanical test market in the years to come. The study covers nondestructive testing (NDT), condition monitoring, dimensional metrology and material testing.
For complimentary access to more information on this research, please visit: http://bit.ly/1w3EFse.
New infrastructure projects in markets beyond BRIC will be the biggest driver for capital expenditure-based industrial inspection and monitoring solutions. Potential game-changing countries include Indonesia, Turkey, the Middle East, and Africa. Markets will also see wide-scale adoption of big data platforms that enable continuous monitoring of critical and non-critical assets to maximize productivity and prevent costly shutdowns.
"Productivity trends in the consumer electronics industry, such as enhanced processing power, expanded memory, display technologies, lithium-ion batteries, and a shift toward touch-based devices, will directly impact tomorrow's mechanical test equipment," said Frost & Sullivan Measurement and Instrumentation Program Manager Vijay Mathew. "Equipment vendors are increasingly integrating these features into their devices as technologies continue to converge and solutions become more interactive, portable, connected and easy to navigate."
Lack of skilled technicians and an aging workforce is a key challenge in the mechanical test industry. Though well-publicized infrastructure failures, aging infrastructures and growing investments in new infrastructure projects have incrementally increased demand for new technicians, the supply shortage continues. Coupled with shrinking budgets, end-user industries are compelled to outsource maintenance and inspection services.
"With buzzwords such as Industry 4.0, smart factories and smart manufacturing gaining interest, end users look to move away from traditional testing and inspection technologies and opt for automated solutions that can be integrated with modern production lines," observed Mathew. "Inclusion of cloud-based software and networked systems and interfaces will also be crucial to meet the requirements of Industry 4.0."
Impact of Mega Trends on the Mechanical Test Market is part of the Test & Measurement Growth Partnership Service program. Frost & Sullivan's related studies include: Alternative Energy and NDT: Impact of Shale Gas and Oil Sands on the NDT Inspection Services Market, Beyond BRIC Opportunities for NDT Inspection Services Market: Middle East and North Africa, Current and New Opportunities for Metrology in the Automotive Industry, Analysis of the Emerging and Nontraditional Nondestructive Testing Equipment Market and World Material Testing 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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Impact of Mega Trends on the Mechanical Test Market
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Contact:
Ariel Brown
Corporate Communications – North America
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