Abstract
Product Innovation and Focused Customer Service to Tackle Long Replacement
Period and Stimulate Sales
Power quality test equipment is a relatively mature market where expanding
the customer base and acquiring potential customers is extremely challenging.
Shifting focus to the replacement market is likely to increase unit shipments
and augment the revenues of vendors. However, generating demand from a market
with an average replacement rate of nine years is likely to require substantial
investment in cutting-edge technology and dedicated customer service. Transition
from a generalized approach to a unique product portfolio offering solutions
tailored to customer-specific needs is likely to stimulate repeat sales.
This Frost & Sullivan research analyzes the key drivers and challenges
influencing the power quality test and measurement equipment market. Technology
and pricing trends, coupled with end-user and revenue forecasts, enable
participants to formulate a structured marketing plan. This analysis gives an
insight into future opportunities in various product segments such as handheld
devices, portable/transportable instruments, permanently installed monitors and
instrumentation, revenue/demand meters with power quality features, and power
quality software.
Reliability of Power Quality Test Equipment Spurs Growth
"Power quality is a crucial issue especially in sectors deploying
sensitive electronic devices," explains the analyst. "End users are
demanding reliable and accurate test equipment that monitors, records, and
analyzes the power quality to locate the source of disturbances and also provide
corrective measures." This catapults the demand for sophisticated test
equipment with enhanced features that effectively check for transients, sags,
spikes, and harmonics, thereby curbing damage to mission-critical devices.
Industry standards such as the Institute of Electrical and Electronics
Engineers regulation and the National Electric Code are driving sales of power
quality test equipment through guaranteed product safety, performance, and
quality. ISO-credited test equipments that undergo strict quality control also
adds credibility to the vendorfs product offering.
Smaller Test Equipment and Facility-wide Monitoring Drives Sales
The growing trend of miniaturized electronic devices with smaller integrated
circuits is popularizing compact and economical power quality test equipment.
"These equipments generate huge demand from electrical contractors and
industrial/commercial facility engineers through added efficiencies such as
increased portability and enhanced performance," explains the analyst.
End usersf are also demanding facility-wide monitoring systems and require
a total solution that checks power quality distortions in both mission-critical
and other supplementary devices. Test equipment with power quality monitoring
software achieves both smaller sizes and efficiency in monitoring multiple
locations and are witnessing a surge in popularity.
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