LONDON, Oct. 22, 2014 /PRNewswire/ -- With the rapid emergence of new technologies, the demand for simple and easy-to-use solutions has grown in the global instrumentation software market. Acknowledging this need, instrumentation software companies are focusing on simplifying complicated technical tasks and processes as well as adding new functionalities.
New analysis from Frost & Sullivan, It's All About Software -- Analysis of the Market for Global Instrumentation Software and Software Solutions for General Purpose Test Instrument, finds that the market earned revenues of $1.52 billion in 2013 and estimates this to reach $2.21 billion in 2018.
The functionality of instrumentation software has evolved throughout the last decade, with many software developers employing powerful formulas, advanced rendering, and intuitive user interfaces.
"The close integration of electronic test equipment and software is resulting in improved efficiency of the overall system," said Frost & Sullivan Measurement & Instrumentation Industry Analyst Prathima Bommakanti. "The faster changeover, enhanced accuracy, and higher placement rates will all help deliver greater production yields to customers."
Investments in R&D will give a significant boost to the participants at a time when market maturity and the economic downturn are limiting the sales of associated software. However, superior customer awareness and competitive prices are generating interest in add on and turnkey software.
Another important trend in the test instrumentation software market is the increasing heterogeneity in product/application mix at customer locations. Due to the resulting need for several types of software/products, customers tend to gravitate towards single-source suppliers that can provide the packages/services by themselves or through partnerships.
End users' preference for a one-stop-shop drives equipment vendors to provide the equipment in a manner that eliminates the need to procure software individually. They also tend to offer free updates of the software if there is no revision in its version.
"With the increase in complexity of DUT, customers in the global instrumentation software market are in a constant search for simple and easy-to-use solutions," noted Bommakanti. "Identifying this need, market participants are striving to ensure that their software offer high ease-of-use to their customers."
If you are interested in more information on this study, please send an email to Julia Nikishkina, Corporate Communications, at julia.nikishkina@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
It's All About Software -- Analysis of the Market for Global Instrumentation Software and Software Solutions for General Purpose Test Instrument is part of the Test & Measurement (http://www.testandmeasurement.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Outlook for Electronic Test Equipment, Global Wireless Protocol Analyzers, Load Stress Generators and Functional Test and Network Monitoring Systems Market, Global Wi-Fi Test Equipment Market, Global Communication Test Services Market and PXI Market to Change the Face of the Test and Measurement Industry. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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It's All About Software -- Analysis of the Market for Global Instrumentation Software and Software Solutions for General Purpose Test Instrument
M9F4-30
Contact:
Julia Nikishkina
Corporate Communications -- Europe
P: +7 (499) 213 0156
E: julia.nikishkina@frost.com
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