London, United Kingdom, December 21, 2011 --(PR.com
)-- Russia and the CIS countries are emerging markets offering long-term potential for general purpose test equipment vendors. Government and private investments in infrastructure development and services are poised to generate new opportunities for test equipment vendors.
New analysis from Frost & Sullivan (http://www.testandmeasurement.frost.com), General Purpose Test Equipment Markets in Russia and CIS Countries, finds that the markets earned revenue of $194.8 million in 2010 and estimates this to reach $247.3 million in 2015. The research service covers the following products: oscilloscopes, signal generators, spectrum analysers, multimeters, network analysers, logic analysers, power meters, arbitrary waveform generators and electronic counters.
“Investments in infrastructure are rising with constant upgrades and efforts at modernisation,” notes Frost & Sullivan Industry Manager Sujan Sami. “The increase in public-private partnerships (PPP) is set to boost infrastructure development, leading to greater demand for suitable test equipment.”
The education as well as the aerospace and defence (A&D) sectors are major revenue-generating streams in Russia and the CIS countries. The A&D end-user sector was not as badly affected by the economic downturn as other sectors. This, in addition to the growth in the educational sector, is driving demand for oscilloscopes and other general purpose test equipment.
A large territory and customer base also bodes well for market prospects. “Russia is the largest country in the world and is also the 9th largest country in terms of population,” explains Sami. “This implies a huge consumer base for electronic products that will attract electronic OEMs and create potential for general purpose test equipment vendors.”
At the same time, growth in several industrial sectors is poised to augment demand for general purpose test equipment in the near future. In addition, with the economy recovering from the recession, the pent-up demand for general purpose test equipment is set to hit the market, resulting in heightened demand levels.
However, the lack of private capital expenditure threatens to restrain market growth. Poorer economies such as Tajikistan, Armenia, Uzbekistan, Kyrgyzstan and Moldova are mostly dependent on state expenditure for growth. This restricts the adoption of newer technologies, hindering market expansion.
With government policies playing a critical role in the development of countries in the CIS region and in Russia, companies also need to keep a close track of evolving government regulations.
“Focusing on total solutions, rather than just selling test instruments, is the key to achieving market success,” concludes Sami. “Moreover, to compete more effectively against regional vendors, companies will need to forge alliances with local channel partners.”
If you are interested in more information on this study, please send an email with your contact details to Anna Zanchi, Corporate Communications, at firstname.lastname@example.org.
General Purpose Test Equipment Markets in Russia and CIS Countries is part of the Test & Measurement Growth Partnership Service programme, which also includes research in the following markets: European Fibre Optic Test Equipment Market and World General Purpose Test and Equipment Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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