The T& M industry is expected to grow at a 8.3% between 2016 and 2021.
The growth of the market is mainly driven by the increasing focus on quality assurance, growing demand for automated test equipment, and rising penetration of electronic devices.
What is ahead for Indian industry in Test & Measurements :
The test and measurement industry in India is growing rapidly, as the country’s economy continues to develop. The Indian government is investing heavily in infrastructure and manufacturing, which are key industries for the country. This investment is driving demand for test and measurement equipment.
The market was valued at $1.32 billion in 2016 and is projected to reach $2.02+ than the projected value. The main drivers of growth in the test and measurement market in India are the increasing investments in the automotive and aerospace industries, the growing telecommunications sector, and the expanding electronics market.
The automotive industry is one of the largest consumers of test and measurement equipment, due to the need to ensure safety and quality control. The aerospace industry is also a major driver of growth, as it requires highly accurate testing equipment for aircraft design and production.
The leading players in the test and measurement market in India include Rohde & Schwarz, Keysight Technologies, Anritsu Corporation, Yokogawa Electric Corporation, Advantest Corporation, National Instruments
What is Test and Measurement Scenario in India?
The Test and Measurement Scenario in India has been evolving over the years and has become an important part of the Indian economy. The sector is now worth around Rs 12000 crore and is expected to grow at a rate of 8-10% per annum. The sector employs around 1.5 million people in various capacities.
The T&M Scenario in India can be broadly classified into three categories viz., Research & Development, Manufacturing and Service. The sector is highly fragmented with a large number of small and medium enterprises.
The top 10 companies account for around 60% of the total market. The Test and Measurement industry in India provides a complete range of solutions for various applications including Automotive, Consumer Electronics, Telecom, Aerospace, Defence, Power & Energy, Oil & Gas and Process Industries. The sector has also gained importance in recent years due to the growing focus on quality and compliance in various industries.
In India, test and measurement services are used in a variety of industries, including telecommunications, automotive, aerospace, and others. These services help ensure that products meet certain standards and performance requirements. They can also be used to troubleshoot issues with products or systems.
It is clear that the test and measurement scenario in India is quite promising. With the increasing emphasis on quality and productivity, there is a growing demand for test and measurement equipment in India. However, there are some challenges that need to be addressed such as the lack of trained personnel and the high cost of equipment. Nevertheless, with the right policies in place, the test and measurement industry in India is expected to grow significantly in the coming years.