In-Depth Analysis of the Global Portable/Handheld Test Equipment Market

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In-Depth Analysis of the Global Portable/Handheld Test Equipment Market

  1. 1. In-depth Analysis of the Global Portable/Handheld Test Equipment Market LTE Deployments Across the World Drive Market Growth NC59-30 September 2013
  2. 2. Research Team Lead Analyst Program Manager and Strategic Review Committee Leader Sujan Sami Jessy Cavazos Industry Manager Measurement & Instrumentation Industry Director Test & Measurement For more information: Jeannette Garcia Corporate Communications Measurement & Instrumentation 210.477.8427 Jeannette.Garcia@frost.com Special Thanks Raaj Datta Assistant Editor NC59-30 2
  3. 3. Contents Section Executive Summary Market Overview Total Portable/Handheld Test Equipment Market • External Challenges: Drivers and Restraints • Forecast and Trends • Market Share and Competitive Analysis • Mega Trends and Industry Convergence Implications General Purpose Test Equipment Segment Breakdown • Market Share and Competitive Analysis—General Purpose Test Equipment Segment Electrical Test Equipment Segment Breakdown • Market Share and Competitive Analysis—Electrical Test Equipment Segment Environmental Test Equipment Segment Breakdown • Market Share and Competitive Analysis—Environmental Test Equipment Segment The Last Word Appendix NC59-30 3
  4. 4. Executive Summary NC59-30 4
  5. 5. Executive Summary • With the focus of test equipment end users moving towards battery-operated instruments and integrated test equipment, the handheld/portable test equipment market is expected to witness technological changes and enhanced growth during the forecast period. • (Long Term evolution) LTE deployments across the world are expected to bolster the growth of portable/handheld RF test equipment. • However, the use of these instruments is expanding beyond the wireless communications market and gaining momentum in critical applications such as military and aerospace due to their portability, ease of use, and instant results. • Although the majority of the revenues are coming from field applications, portable instruments are expected to make inroads into R&D applications as a complementary product to existing benchtop instruments. • Price pressure is severe in this market as the products are typically low-cost. It is even more severe in China, where there are several low-cost vendors competing with global tier I test vendors. Source: Frost & Sullivan NC59-30 5
  6. 6. Executive Summary—CEO’s Perspective 1 Battery-powered instruments are gaining importance within the overall test and measurement industry with improvements in batteries and battery life. 2 Portable instruments are expected to make their way into R&D, with an increase in features and functionality. 3 Modular instruments such as those based on PCI eXtensions for Instrumentation (PXI) are expected to enter field applications due to their small form factor. 4 Indirect sales channels are preferred as these instruments require less technical know-how and also to increase customer reach. 5 Product differentiation and brand recognition are important factors for test vendors’ success. Source: Frost & Sullivan NC59-30 6
  7. 7. Market Overview NC59-30 7
  8. 8. Market Overview—Definitions The portable/handheld test equipment market is segmented into 3 main product segments. General Purpose Test Equipment: The products under this segment include oscilloscopes, multimeters, spectrum analyzers, signal generators, network analyzers, electronic counters, and power meters – USB and LCR meters. Electrical Test Equipment: The products under this product segment include milliohm meters, micro ohm meters, insulation testers, phase/rotation testers, earth ground testers/earth resistance testers/ground resistance meters, harmonic/leakage testers, hipot testers, megohmmeter/insulation testers, earth and receptivity testers, voltmeters, clamp on ammeters, and thermal Imagers. Environmental Test Equipment: The products under this segment include humidity meters, light meters, sound meters, moisture test meters, water quality meters, and vibration testers. Source: Frost & Sullivan NC59-30 8
  9. 9. Market Overview—Definitions (continued) The various geographic regions covered in this study include: • North America: Canada and the United States. • Europe: Western, Central, Eastern Europe, and Russia. • Asia-Pacific: Countries that are on the western border of the Pacific Ocean (including those on the Indo-Chinese peninsula), the Pacific Islands, and Central Asia. • Emerging Markets: Central and South America, the Caribbean islands, the Middle East, and Africa. The various end users include: General Purpose Test Equipment – Education, military/government, broadband/telecommunication, computer design, semiconductors, industrial & automotive, and others (semiconductor chip manufacturers, medical research, chemical, professional repair and maintenance services). Electrical Test Equipment – Medical, military/government, industrial & automotive, and others (universities and utilities). Source: Frost & Sullivan NC59-30 9
  10. 10. Market Overview—Definitions (continued) Environmental Test Equipment: Light meters – Germicidal light measurement, testing lighting of work places and quality assurance in manufacture of lamps & light sources. Sound meters – Production and repetitive testing, noise monitoring, building acoustics, mapping, automotive & transportation, material testing, and aerospace and structural dynamics. Humidity meters and Vibration testers – Agriculture, soil monitoring, geotechnical, pulp & paper, food industry, and building construction applications. Moisture meters – concrete monitoring, grain moisture measurement, wood moisture and non-destructive moisture testing. Water quality meters – Water quality parameter spot measurements such as temperature, dissolved oxygen, conductivity, pH, ORP (Redox), depth, and turbidity. NOTE: The products covered in the portable/handheld test equipment market are used in installation & maintenance applications. Today, some of these products are being used in research and development (R&D) as an addendum to the benchtop instruments. Source: Frost & Sullivan NC59-30 10
  11. 11. Market Overview—Key Questions This Study Will Answer Is the market growing, how long will it continue to grow, and at what rate? Which product segments will grow the fastest during the next 7 years? Which regions show greater revenue potential for handheld/portable test equipment? How will the structure of the market change with time in terms of form factor? Is the current structure good for new types of portable test equipment? Are the products/services offered today meeting customer needs, or is there additional development needed? Which of the end-user groups represent most of the growth opportunities? Source: Frost & Sullivan NC59-30 11
  12. 12. External Challenges: Drivers and Restraints— Total Portable/Handheld Test Equipment Market NC59-30 12
  13. 13. Drivers and Restraints Total Portable/Handheld Test Equipment Market: Key Market Drivers and Restraints, Global, 2013–2019 Market Drivers 1–2 Years 3–4 Years 5–7 Years Growth of LTE boosts market growth Improvements made in battery technology make portable instruments more attractive Integrated test equipment drives market growth Market Restraints Education sector boosts product demand Economic turmoil in Europe and Japan hinders test equipment growth Requirement for highly complex data capture and analysis hinders entry into R&D Price pressure lowers sales volume Impact: High Medium Low Source: Frost & Sullivan NC59-30 13
  14. 14. Global Hot Spots North America Presence of Tier I vendors and importance of quality sustains market growth. Europe The economic turmoil has weakened the growth of European market. Brazil Energy and infrastructure investments are expected to stimulate economic growth. India Educational institutions are gaining power and partnering with vendors for research. China Change in political leadership is expected to drive economic reforms. Source: Frost & Sullivan NC59-30 14
  15. 15. Competitive Environment General Purpose Test Equipment Segment: Competitive Structure, Global, 2012 Number of Companies in the Market More than 50 Competitive Factors Ease of use, pricing, features, brand recognition Key End-user Groups Education, broadcast/telecommunication, computer design/semiconductors/others (medical research, chemical, professional repair and maintenance services), military/government, and industrial and automotive Major Market Participants Fluke, Agilent, Rohde & Schwarz, and Anritsu Distribution Structure Mostly indirect sales Source: Frost & Sullivan NC59-30 15
  16. 16. Competitive Environment Electrical Test Equipment Segment: Competitive Structure, Global, 2012 Number of Companies in the Market More than 100 Competitive Factors Ease of use, price, brand recognition Key End-user Groups Aerospace, military and defence, medical devices, industrial and automotive; and others – laboratories, education, and professional services Major Market Participants Fluke, Chauvin Arnoux, Extech, and Megger Distribution Structure Indirect sales Source: Frost & Sullivan NC59-30 16
  17. 17. Competitive Environment Environmental Test Equipment Segment: Competitive Structure, Global, 2012 Number of Companies in the Market More than 50 Competitive Factors Ability to operate under harsh conditions, product quality, price, and ease of use Key End-user Groups Automotive & transportation; aerospace, military and defence; material testing (including NDT), and others– construction, oil & gas, laboratories Major Market Participants General Electric, Vaisala, AEMC, and Extech Distribution Structure Indirect sales Source: Frost & Sullivan NC59-30 17
  18. 18. Legal Disclaimer Frost & Sullivan takes no responsibility for any incorrect information supplied to us by manufacturers or users. Quantitative market information is based primarily on interviews and therefore is subject to fluctuation. Frost & Sullivan research services are limited publications containing valuable market information provided to a select group of customers. Our customers acknowledge, when ordering or downloading, that Frost & Sullivan research services are for customers’ internal use and not for general publication or disclosure to third parties. No part of this research service may be given, lent, resold or disclosed to noncustomers without written permission. Furthermore, no part may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the permission of the publisher. For information regarding permission, write to: Frost & Sullivan 331 E. Evelyn Ave. Suite 100 Mountain View, CA 94041 NC59-30 18
  19. 19. Appendix NC59-30 19
  20. 20. Market Engineering Methodology One of Frost & Sullivan’s core deliverables is its Market Engineering studies. They are based on our proprietary Market Engineering Methodology. This approach, developed across the 50 years of experience assessing global markets, applies engineering rigor to the often nebulous art of market forecasting and interpretation. A detailed description of the methodology can be found here. Source: Frost & Sullivan NC59-30 20
  21. 21. Additional Sources of Information on Electronic Test Equipment Market • World General Purpose Test Equipment Markets • Asia Pacific General Purpose Test Equipment Markets • World Oscilloscopes Markets • Mega Trends to Shape the Future of the Electronics Test and Measurement (T&M) Industry • World Signal Generators and Arbitrary Waveform Generators Markets • High Growth Test and Measurement Opportunity: Modular Instruments • Asia Pacific Modular Instrumentation Markets • Distribution and Product Analyses of the General Purpose Test Equipment Market in China • Distribution and Product Analyses of the General Purpose Test Equipment Market in India • General Purpose Test Equipment Market in Select Asia Pacific Countries Source: Frost & Sullivan NC59-30 21
  22. 22. Partial List of Companies Interviewed • Agilent Technologies • Anritsu • Chauvin Arnoux • Megger • Gossen Foto- und Lichtmesstechnik GmBH • Aspen • Grainger • Transcat • HIOKI E.E. CORPORATION • IDEAL INDUSTRIES, INC • Rohde & Schwarz • Yokogawa Meters & Instruments Corporation Source: Frost & Sullivan NC59-30 22
  23. 23. Other Market Participants—General Purpose Test Equipment Segment • Aaronia AG • Good Will Instrument Co., Ltd • Acute Technology Inc. • GMC-I Messtechnik GmbH • Aeroflex Incorporated • General Tools & Instruments • Amprobe • HIOKI E.E. CORPORATION • B&K Precision Corp. • Janatek • Chauvin Arnoux • KIKUSUI ELECTRONICS CORPORATION • Chroma Systems Solutions, Inc. • KUSAM-MECO • Digimess Instruments Ltd • Link Instruments Inc. • Duncan Instruments Canada Ltd. • Megger • DynamicSignals LLC • Oscium • Elmika • Pico Technology • IET Labs, Inc. • Rigol Technologies Inc. • FLIR Commercial Systems • Signal Hound • Flite Electronics International Limited • TEGAM Inc. • Giga-tronics Incorporated • Yokogawa Meters & Instruments Corporation Source: Frost & Sullivan NC59-30 23
  24. 24. Other Market Participants—Electrical Test Equipment Segment • Amprobe • KIKUSUI ELECTRONICS CORPORATION • Associated Research, Inc. • KUSAM-MECO • B&K Precision Corp. • NEC Avio Infrared Technologies Co. Ltd. • Chroma Systems Solutions, Inc. • OMEGA Engineering inc. • Duncan Instruments Canada Ltd. • PPM, Inc. • IET Labs, Inc. • Precision MASTECH Enterprises Co. • Flite Electronics International Limited • Seaward • GMC-I Messtechnik GmbH • TES Electrical Electronic Corp. • Greenlee Textron Inc. • TEGAM Inc. • HIOKI E.E. CORPORATION • Test Products International, Inc. • Hipotronics, Inc. • Weschler Instruments • Hoyt Electrical Instrument Works Inc. • • IDEAL INDUSTRIES, INC Yokogawa Meters & Instruments Corporation NC59-30 Source: Frost & Sullivan 24
  25. 25. Other Market Participants—Environment Test Equipment Segment • Amprobe • KUSAM-MECO • B&K Precision Corp. • Megger • Central Technology Corp • Monarch Instrument • Control Company • Omega Engineering • CHINO Works America Inc. • PROTEK Test and Measurement • Duncan Instruments Canada Ltd. • REED Instruments • E + E Elektronik Ges.m.b.H • Simpson Electric Company • Fieldpiece Instruments, Inc. • TEGAM Inc. • Fluke Corporation • Testo AG • Gossen Foto-und-Lichtmesstechnik GmBH • W.W. Grainger, Inc. • General Tools & Instruments • • HIOKI E.E. CORPORATION Yokogawa Meters & Instruments Corporation • Janatek NC59-30 Source: Frost & Sullivan 25

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