Research and Markets has published a new report that forecasts the T&M market in Thailand to grow at a CAGR of 5.42% during the period 2016-2020. According to this report, one of the key trends for market growth will be development of integrated and application-specific test equipment. The demand for integrated test equipment has increased significantly. End-users of test equipment prefer integrated test equipment that can perform multifunctional operations better than traditional standalone equipment. Modular test equipment is growing more rapidly than traditional test equipment in terms of adoption. The ability to perform multiple tests simultaneously is a key feature of the modular test equipment that helps reduce costs and time. This has created an increase in the need for integrated test equipment worldwide.
The growth in telecommunication sector will be a key driver for market growth. Countries in APAC such as Thailand, Indonesia, and India offer significant growth opportunity for communication T&M equipment. The rise in mobile phone penetration in these countries augurs well with the market growth. Enterprises are turning toward communication T&M to deliver their customers high-quality and performance services.
Further, the report states that slowdown in Chinese economy will be a major challenge for the market.
Key vendors:
The Report is titled Test and Measurement Market in Thailand 2016-2020.
