Frost & Sullivan: Manufacturing Demands in Southeast Asia Drives Uptake of Used and Rental General Purpose Test Equipment - Hawaii News Now - KGMB and KHNL

Frost & Sullivan: Manufacturing Demands in Southeast Asia Drives Uptake of Used and Rental General Purpose Test Equipment

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Frost & Sullivan

Customer education vital to divest potential customers of the notion that test equipment purchases need to be new

KUALA LUMPUR, Malaysia, June 11, 2014 /PRNewswire/ -- The increasing amount of manufacturing and R&D activities in Southeast Asia is driving the demand for used and rental general purpose test equipment. The inflow of foreign direct investment (FDI) has spawned demand for raw materials, processing capabilities, testing capabilities and other support functions, which bode well for vendors of refurbished and rented test equipment.

New analysis from Frost & Sullivan, Used and Rental General Purpose Test Equipment Market in Southeast Asia, finds that the market earned revenues of US$31.9 million in 2013 and estimates this to reach US$60.2 million in 2018. The study includes oscilloscopes, spectrum analyzers, network analyzers, signal generators, power meters, multimeters and electronic counters.

The used test equipment segment accounted for more than 75 percent of the total market in 2013, while the rental segment of the market is still nascent due to the low level of awareness among end-users on the benefits of rentals and the prevailing notion that test equipment must be purchased brand new. Moving forward, the rental segment is expected to grow at a faster pace than the refurbished test equipment segment. Test equipment rental vendors are pro-actively engaged in educating customers on the availability and viability of test equipment rental as an alternative.

Additionally, uncertain economic conditions and budget crunch have impacted end-user spendings, resulting in tight financial budgets. Under these circumstances, opting for the rental of test equipment or purchasing refurbished test equipment may be more efficient for end users as it allows them to lower the cost of ownership on test equipment.

"Rental test equipment companies are looking to make the most of the rise in manufacturing and R&D by building partnerships with end users to enhance support in terms of services, and understand their needs better," said Frost & Sullivan Measurement & Instrumentation Industry Analyst Susan Sahayan.

From a vendor standpoint, having the right equipment with the right configuration that meets the customer's needs may at times be a challenge. The onus is on the rental and refurbished test equipment vendors to maintain a strong product portfolio, covering the latest test and measurement products as well as older generation test equipment for legacy applications that are still performed by end users.

If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

Used and Rental General Purpose Test Equipment Market in Southeast Asia is part of the Test & Measurement (http://www.testandmeasurement.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Analysis of End Users' Perspective on the Global Communication Test Equipment Market; Strategic Analysis of the World Optical and Image Sensors Market; and Used and Rental General Purpose Test Equipment Market in Southeast Asia. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

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.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

Join Us:           Join our community

Subscribe:       Newsletter on "the next big thing"

Register:         Gain access to visionary innovation

Used and Rental General Purpose Test Equipment Market in Southeast Asia
P77E-30

Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: djeremiah@frost.com

Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com

Melissa Tan
Corporate Communications – Asia Pacific
P: +65 6890 0926
F: +65 6890 0999
E: melissa.tan@frost.com

http://www.frost.com

©2012 PR Newswire. All Rights Reserved.