Frost & Sullivan finds expertise in Big Data and predictive analytical models to become competitive differentiators
MOUNTAIN VIEW, California, Feb. 25, 2016 /PRNewswire/ -- The ubiquity of connected devices and the rising relevance of the Internet of Things (IoT) will provide a huge boost to the test & measurement market, specifically, the communication testing segment. One of the most significant drivers of this segment will be the research & development of 5G mobile communication networks, and their subsequent deployment by 2020. Global sporting events, the establishment of smart cities and drive for Industry 4.0 will also create opportunities for NDT and condition monitoring.
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New analysis from Frost & Sullivan, 2025 Vision for the Global Test and Measurement Industry, (http://www.frost.com/nfea) finds that communication testing will be the biggest and fastest growing segment of the test & measurement industry, with revenues touching $25 billion by 2025. The study covers the market segments of general purpose electronic testing, data acquisition, communication testing, non-destructive testing (NDT), condition monitoring and dimensional metrology.
For complimentary access to more information on this research, please visit: http://frost.ly/2a
"To keep pace with the end-user markets, test vendors have to shift to software upgradeable instruments; offer predictive analytics, Big Data analytics, virtualized testing; and adopt new business models such as software as a service," said Frost & Sullivan Measurement & Instrumentation Senior Consultant Prem Shanmugam. "These improvements will help them differentiate themselves in a market that is rapidly being characterized by the commoditization of hardware and the increased data availability."
Another factor that will escalate competition, particularly within the electronics & communications test segments, is the consolidation of the semiconductor industry. With fewer customers, businesses will flock to vendors that deliver the most value. Therefore, strategic partnerships will be the order of the day. Simultaneously, the oil price crash will have several implications for the NDT market, as the former has been the largest end user of NDT and condition monitoring services.
Meanwhile, the trans-Pacific partnership among the United States, Japan and 10 other Pacific-region countries will alter the dynamics of all these countries in various end-user segments. The most significant aspect of the deal is that it opens up the US automotive and auto parts market to Japanese exports, which could result in huge test opportunities within the Japanese automotive industry.
"Asia-Pacific is a high-growth region across sectors and in spite of the recent Chinese market correction, will continue to generate substantial opportunities due to the opening up of new markets," noted Shanmugam. "Overall, for the global market, future-proof software-defined & modular instruments and new business models designed around analytics services to derive business insights out of data and software as a service that reduces cost of ownership will be the way forward""
2025 Vision for the Global Test and Measurement Industry is part of the Test & Measurement (http://ww2.frost.com/research/industry/measurement-instrumentation/test-measurement) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Network Recording Market, Global Centralized Radio Access Network (C-RAN) Testing and Monitoring Market, Global Mass Spectrometry Market, Adapting to the Future of Dimensional Metrology: Evaluating the potential for CT systems, and Global Fire Safety Services Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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2025 Vision for the Global Test and Measurement Industry
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Contact:
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Corporate Communications – North America
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