Research firm Frost & Sullivan forecasts the communication test equipment market in the Asia-Pacific to record a 3.5% growth between 2017 and 2022.
Revenue generation within the market is expected to increase from $1,073.3 million to over $1.2 million during the forecast period.
The primary driver for the growth is escalating demand across several vertical markets such as smart cities, smart manufacturing plants, and smart grid.
In addition, increasing innovation and government investments in communication infrastructure will drive the market to be lucrative.
The deployment of mobile 5G networks and its applications is attracting increased investments in telecom infrastructure and innovative applications. This is a result of the growing adoption of smartphones and cloud technology.
Frost & Sullivan has identified growth for companies leveraging
- Network Function Virtualisation (NFV) – companies must identify the various end-user groups that can benefit from NVFs
- Internet of Things – vendors needs to innovate new products that cater to a diverse level of applications and end-user concerns
- Security and Integrity – opportunities emerge for companies to develop a more proactive and practical testing approach towards security testing
- Wireless Technology – developed countries such as Japan and Singapore will bring in more demand hence companies need to strategise to address this demand
Ms. Divya Saiprasad, Principal Consultant at Frost & Sullivan, said: "The Asia-Pacific region offers higher growth rate of most communication test equipment vendors compared to other regions they operate in.
"Several product launches with sizable improvements in sensitivity, resolution, speed and throughput are populating the market due to increased demand."
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