Press release
Latin America Measurement and Test Equipment Market Expected to Reach $2.78 Billion By 2030
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According to the report published by Allied Market Research, the Latin America measurement and test equipment market was estimated at $1.54 billion in 2020 and is expected to hit $2.78 billion by 2030, registering a CAGR of 6.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in demand for modular instruments by product designers & manufacturers and increase in adoption of electronic devices drive the growth of the Latin America measurement and test equipment market. On the other hand, strong inclination of customers toward adoption of measurement and test equipment on rental basis is one of the prime factors impeding the growth to some extent. However, advent of 5G technology and deployment of LTE and LTE-Advanced (4G) networks is expected to provide lucrative opportunities in the industry.
COVID-19 Scenario:
Lack of skilled workforce and delay or cancelation of projects during the pandemic impacted the Latin America measurement and test equipment market negatively.
Nevertheless, with the manufacturing and industrial sectors getting back to normalcy, the market has started recovering at a swift pace and is expected to get back on track soon.
The Latin America measurement and test equipment market is analyzed across product type, service type, and industry vertical. Based on product type, the general purpose test equipment segment accounted for the major share in 2020, holding nearly three-fifths of the total market. The mechanical test equipment segment, however, would exhibit the fastest CAGR of 7.0% throughout the forecast period.
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Based on service type, the calibration services segment generated the highest share in 2020, accounting for more than two-fifths of the total market. The Repair or After Sale Services segment, on the other hand, would exhibit the fastest CAGR of 6.7% from 2021 to 2030.
Based on industry vertical, the healthcare segment held the lion's share in 2020, garnering nearly one-fifth of the total market. The automotive segment, on the other hand, is expected to cite the fastest CAGR of 8.5% by 2030.
The key market players analyzed in the Latin America measurement and test equipment market report include Instek, Uni-T, Owon, National Instrument Corporation, Hantek, Fortive Corporation, Rigol, Rohde & Schwarz Gmbh, Anritsu Corporation, Keysight Technologies, Yokogawa Electric Corporation. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
Competitive Analysis
Competitive analysis and profiles of the major Latin America measurement and test equipment market players, such as Rigol, Instek, Uni-T, Owon, Hantek, Fortive Corporation, Rohde & Schwarz Gmbh, Anritsu Corporation, Keysight Technologies, Yokogawa Electric Corporation, and National Instrument Corporation are provided in this report. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
Key Benefits For Stakeholders
This study comprises analytical depiction of the Latin America measurement and test equipment market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall Latin America measurement and test equipment market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current Latin America measurement and test equipment market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
The report includes the market share of key vendors and Latin America measurement and test equipment market trends.
Latin America Measurement and Test Equipment Market Report Highlights
Aspects Details
By Product Type
General Purpose Test Equipment
Mechanical Test Equipment
By Service Type
Calibration Services
Repair or After Sale Services
Others
By Industry Vertical
Automotive
Aerospace & Defense
IT & Telecommunication
Industrial
Healthcare
Semiconductor & Electronics
Education & Government
Manufacturing
Others
Key Market Players Rigol, Instek, Uni-T, Owon, Hantek, Fortive Corporation, Rohde & Schwarz Gmbh, Anritsu Corporation, Keysight Technologies, Yokogawa Electric Corporation, National Instrument Corporation
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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