The Asia Pacific market is experiencing significant growth, driven by factors such as a rising number of original equipment manufacturers and semiconductor device manufacturers, along with the expansion of mobile operators and a thriving telecom industry. The increasing emphasis on digitalization and e-health further contributes to the growth of the test and measurement equipment market in the region. China, recognized as a global manufacturing hub in electronics, semiconductors, and automotive industries, plays a pivotal role. Despite the pandemic’s impact on China’s GDP, the country successfully controlled the virus spread, minimizing its economic repercussions. China is poised to emerge as the only major economy avoiding contraction, surpassing global peers, including the US.
Amidst the trade war with the US, China redirected its focus to European and Asian economies. European countries perceive China as a potential growth source in the post-pandemic world. In December 2020, the European Union finalized a comprehensive investment deal with China, fostering increased trade volumes, particularly in high-quality products like medical devices and wireless communication devices. This development is expected to intensify the commitment of Chinese manufacturers to meet growing demands, necessitating extensive use of test and measurement equipment to ensure product quality aligned with EU norms and relevant standards in Asian countries.
Accurate testing and measurement are crucial in the design and manufacturing of electronic systems to ensure product quality. Test and measurement (T&M) systems are vital in validating the performance of various electronic products, particularly as product complexity increases. This demand for precision testing spans the entire product life cycle, from design and development to production testing, pre- and post-market testing, and ongoing support. The growth of the test and measurement industry in India is closely linked to the expansion of the electronics industry in the country. For insights into the latest developments in the T&M space, the Com Connect Consulting team conducted market research.
India has the potential to lead in the next phase of technological innovations. The electronic systems design and manufacturing (ESDM) sector in India has experienced steady growth, expanding beyond system or product design to include areas like product development and original design manufacturing (ODM). This shift presents significant business opportunities in the Indian T&M industry.
The Indian T&M market is fuelled by both global and domestic demand, with key end-user segments like automotive, aerospace and defence, and electronics design contributing to its growth. Automotive companies shifting to automated testing, the rising electronic content in vehicles, and the focus on green mobility through e-vehicles are driving T&M equipment demand. Additionally, increased R&D activities across the electronics industry and the promising future of the defence manufacturing ecosystem present further opportunities for the T&M segment.
Telecommunications and mobile manufacturing also hold significant potential in India, supported by initiatives like ‘Make in India.’ The growth of mobile manufacturing, smart cities, and advancements in power and communications sectors are expected to contribute to the continued expansion of the T&M industry in the country.
