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F&S expects Test & Measurement equipment market CAGR to be 30% in 5 years Print E-mail
Written by Ganesh   
Saturday, 29 November 2008
Frost & Sullivan expects the Test and Measurement equipment market's Compound Annual Growth Rate (CAGR) to be 30 percent in the next five years

Mumbai - Test and Measurement (T&M) equipment has, over the years, grown in significance, reflecting the critical position it holds in any industry, right from research and development to production and services. Despite playing a pivotal role in most industrial segments, the T&M industry has remained the less glorified performer while the glamour and glitz have been enjoyed by core industry devices. However, the growing emphasis on the quality of products/ services delivered as well as the need for accuracy and timely results have ushered the limelight on to T&M equipment in recent years.

Niju.V, Deputy Director, Automation and Electronics, South Asia and Middle East, Frost & Sullivan, says "Analysis of the Indian T&M equipment market shows a Compound Annual Growth Rate (CAGR) of 30 percent in the next five years. Interestingly, this is in stark contrast to the sub-10 percent growth rate anticipated in the global T&M market. Superlative growth trends are anticipated in both the communications test equipment and laboratory analytical instruments market, while the general purpose test equipment market is also expected to have good growth." This has resulted in renewed focus on India by global T&M suppliers, who aim to be at the core of the action unfurling in the Indian T&M market.

Robust growth witnessed in emerging economies has been manifested in the T&M market enjoying rejuvenated growth. India, being one of the rising stars among emerging economies, is providing a strong growth impetus to the T&M market. In the last 3-5 years, the Indian T&M market has been witnessing growth rates, which are far higher than the global markets. This has largely been due to the formidable growth registered by key industry segments like Automotive, Electronics, Pharmaceuticals, Life Sciences, and Telecommunications. Sectors like Defence, backed by Government investments, have also been instrumental in driving the growth. Increasing R&D activities across various industries are expected to further augment the growth of the Indian T&M market.

In the midst of such heightened activity in the T&M market, Frost & Sullivan hosted a one-day summit "Unraveling the Growth Opportunities in the Indian T&M Market" – A Growth Partnership Summit at Le Meridien, Bangalore, on 18th of November 2008. This growth partnership summit, which was the first T&M industry summit in the country, focused on potential growth opportunities for T&M equipment suppliers and expounded on the key needs and developments of T&M equipment users. The summit served as an interactive and informative forum for all participants across the T&M supply chain right up to the end users. It was an ideal platform for CXOs to meet and share their experiences and also plan for growth in dynamic markets. The summit posed as an incredible opportunity not only for knowledge sharing but also as the perfect setting and ambience for business networking at leisure.

The key speakers at the event, Mr. Venkatesh Valluri, President and Country Manager, Agilent Technologies, and Mr. S. Rangarajan, CEO, Data Patterns, both highlighted the immense opportunities for T&M industry through the growth of key application segments of Aerospace and Defence, Communication, Electronics, and Life sciences.

The CXO round table discussion was on the current scenario and future prospects for T&M R&D and manufacturing in India, which saw some eminent personalities from the T&M industry sharing their views. The common thread of discussion was that "India has indeed grown to be considered as a good destination for T&M R&D and many of the companies are investing in expanding their R&D operations in the country. Also in order to satiate the demand from customers for competitively priced products, T&M companies are exploring opportunities to start manufacturing in the country, as that will help in bringing down the cost of manufacturing, eliminate import duties, and thus aid in lowering the prices of products".

The Platinum sponsor for this event was Data Patterns. Agilent Technologies and National Instruments were the Gold Sponsors and Toshniwal Enterprises Controls Private Limited was the silver sponsor.

Last Updated ( Saturday, 29 November 2008 )
 
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