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Integrated Asset Management Services Will Be Game Changers in Global Test and Measurement

2017-07-21 23:36

Increasing data integration in more test data-centric organizations will multiply growth opportunities, finds Frost & Sullivan's Test & Measurement team

SANTA CLARA, California, July 21, 2017 /PRNewswire/ -- The global test and measurement (T&M) industry is transforming as profitability from hardware alone becomes a challenge. Instead, companies are focusing on platform-centric business models that effectively integrate hardware, software analytics, and services. This connected ecosystem redesigns customer experience across the entire life cycle of test equipment by considering all interactions users have around the test product. It also generates new ways for T&M companies to maximize test equipment value. As the T&M industry shifts to more collaborative approaches, services companies can manage entire quality test programs based on product design requirements. Services offerings will begin as soon as companies start designing their products, and continue through the product assembly and early testing stages, making integrators quintessential to the service solution and test design.

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New Services Growth Opportunities in the T&M Market, recent experiential research from Frost & Sullivan's Test & Measurement Growth Partnership Service, examines the T&M stakeholder business model shift from selling hardware to service-based offerings. The analysis can help industry players identify their "growth zone" in the emerging ecosystem. The research includes case studies on major players such as Keysight Technologies, Tektronix, Fluke, Microlease, AssetSmart, Fulcrum, Sente Group, and MDSI.

"The value from a service-based business will come from monetizing the decision making and intelligence that is extracted from the data produced by a platform-centric business model," said Frost & Sullivan T&M Services 2.0 Industry Analyst Mariano Kimbara. "Hence, a robust data strategy that involves open partnerships with software analytics is vital for T&M companies to create new revenue streams."

A key challenge across user industries is the lack of visibility in test equipment usage and location. T&M original equipment manufacturers (OEMs) can explore several opportunities while addressing these concerns, including:

  • Inventory-tracking services to help in warehouse design and lab space management;
  • Integrated service delivery that assists in redeploying existing inventory by identifying underutilized assets to rent out or sell;
  • Determining the optimal time for purchase of new test equipment by engaging closely with the client's engineering and planning teams to eliminate silos and have integrated open systems;
  • Developing software solutions to digitize test services and intelligently connect people, processes, data and test equipment; and
  • Combining services lines—asset tracking, calibration, and sales of used equipment—to create highly attractive packages.

"Since most end users are concerned about connecting their test equipment to a central database platform through the cloud, they will prefer engaging service providers with robust security systems over OEMs," noted Kimbara. "On the other hand, commoditization of product services makes it difficult for customers to identify significant differences in services, highlighting the need for user education on new service-business implications."

Frost & Sullivan's study covers T&M products, including one-box testers, signal generators, spectrum analyzers, network analyzers, multimeters, power meters, and logic analyzers. The application verticals analyzed are aerospace and defense, automotive, semiconductors, telecommunications, medical devices and energy.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

New Services Growth Opportunities in the T&M Market

Jaylon Brinkley
Corporate Communications – North America
P: (210) 247.2481
F: (210) 348.1003


Source: Frost & Sullivan
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