PORTLAND, OR, UNITED STATES, May 10, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, titled, “Latin America Measurement and Test Equipment Market By Product Type (General Purpose Test Equipment and Mechanical Test Equipment), Service Type (Calibration Services, Repair or After Sale Services, and Others), and Industry Vertical (Automotive, Aerospace & Defense, IT & Telecommunication, Industrial, Healthcare, Semiconductor & Electronics, Education & Government, Manufacturing, and Others): Opportunity Analysis and Industry Forecast, 2021-2030”, 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.
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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.
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.
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The Latin America measurement and test equipment market is highly competitive, owing to strong presence of existing vendors. Measurement and test vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
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.
Latin America Measurement and Test Equipment Market Report Highlights
By Product Type
• General Purpose Test Equipment
• Mechanical Test Equipment
By Service Type
• Calibration Services
• Repair or After Sale Services
By Industry Vertical
• Aerospace & Defense
• IT & Telecommunication
• Semiconductor & Electronics
• Education & Government
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Originally published at https://www.einpresswire.com/article/632913981/latin-america-measurement-and-test-equipment-market-analysis-2030-product-service-industry-vertical-top-companies