New analysis from Frost & Sullivan World Synthetic Instrumentation Test Equipment Market, reveals that the market earned revenues between $50 and $80 million in 2006 and is likely to reach approximately $500 million in 2013.
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“While synthetic instrumentation test equipment has to date been focused on defense and aerospace applications, the opportunity within the commercial market is huge,” say Frost & Sullivan Research Analysts S. Vidyasankar and Mark Holler. “As awareness levels increase and the price-to-performance ratio improves, the SI market has the potential to experience remarkable growth rates.”
The benefits inherent to SI test systems make them ideal for use in the commercial market. These benefits include speed, rapid reconfiguration and increased longevity. Optimizing individual pieces of the SI system is fairly easy, allowing for greater throughput, and the commercial world can customize it for any of their production lines. These benefits are especially significant for industries where technology changes rapidly, such as communications, automotive and consumer electronics.
Currently, there are only a few complete solution providers and system integrators competing in the market. Manufacturers are focusing their development on high-performance, high-cost RF and microwave test solutions, which are put to use mainly in aerospace and defense applications. The cost of a complete SI solution ranges from $200,000 to $700,000 depending on its features and application. The high-cost may deter wider uptake.
“The lack of competition in the SI test equipment market is serving as a hindrance to its acceptance in the commercial market,” explain Holler and Vidyasankar. “The awareness level in the commercial industry also needs to increase for SI to realize its potential.”
Manufacturers must aggressively market their SI solutions to commercial customers. As commercial awareness levels grow, more manufacturers will enter the market and the increased competition will eventually drive down the cost of SI test systems. The improved price-to-performance ratio will in turn increase demand for the products. For the market to reach its potential, more manufacturers need to focus on developing affordable SI solutions targeted specifically at commercial applications.
The World Synthetic Instrumentation Test Equipment Market is part of the Test & Measurement Growth Partnership Service, and it provides background information regarding the development of synthetic instrument technology as well as insight into the emerging synthetic instrumentation test equipment market. It also covers some of the challenges, drivers, and restraints that are currently facing the SI market. Interviews are available to the press.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.