London, United Kingdom, September 15, 2011 --(PR.com
)-- Consumers of metrology software have upped the demand for higher product quality in order to streamline their production processes, thereby reducing costs, maintaining efficiency and ensuring profitability.
To achieve these goals, consumers have increased investments in the automation of production processes, where software also plays a key role. Metrology software developers are looking to cash in on this demand by producing flexible, reliable and accurate solutions.
New analysis from Frost & Sullivan (http://www.testandmeasurement.frost.com), World Metrology Software Market, finds that the market earned revenues of $254.4 million in 2009 and estimates this to reach $331.9 million in 2014.
“The majority of software vendors had spent substantial amounts of money on R&D and marketing to raise awareness among end users about the benefits of software enhancements,” says Frost & Sullivan Research Analyst Prathima Bommakanti. “Eventually, end users are more knowledgeable about the cost-saving potential of software, and this is opening up new market opportunities for suppliers.”
Market participants are striving to keep pace with the evolution of end-user technologies by focusing on ease-of-use and advanced technological feature sets that can accommodate future demand. The need to stand out in the market has forced manufacturers to provide services and solutions that can restore customer confidence and renew demand.
One of the top criteria for choosing a metrology software vendor is a service portfolio. “Without an extended service portfolio and qualified engineers, suppliers have limited scope of becoming leaders in the metrology software market,” notes Bommakanti. “Most key market participants have well trained and experienced in-house staff that can offer complete and customized service support to their customers.”
Although the market is progressing steadily, manufacturers are still trying to shake off the effects of the global economic downturn. Some of the fallouts of the downturn were pricing pressure on vendors and the dip in demand for new applications.
The competitive landscape and the market maturity further compelled software vendors to place emphasis on maintenance contracts from the major customers. The situation will ease gradually, once customers start unfreezing their investment plans. The percentage of licenses is expected to increase as the pent-up demand is released and end users’ business plans are solidified.
If you are interested in more information on this study, please send an e-mail to Anna Zanchi, Corporate Communications, at email@example.com.
World Metrology Software Market is part of the Test & Measurement Growth Partnership Services program, which also includes research in the following markets: World General Purpose Test Equipment Market, World Oscilloscopes Market, and World Signal Generators and Arbitrary Waveform Generators Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
Corporate Communications – Europe
P: 0039 02 46514819