LONDON--(BUSINESS WIRE)--Technavio market research analysts project a CAGR of almost 4% for the market in their latest report global industrial installation testers market 2018-2022. This new research report also provides an analysis of the most important trends expected to impact the market outlook over the next five years.
One of the key drivers for the market is the growing compatibility of installation testers with portable devices for efficient data transfer. Installation testers generally have a memory capacity of 1,000 measurement results. The transfer of information from testers to other devices is a difficult task. Due to technological advances and the need for the faster transfer of information, manufacturers of testing devices have started developing applications to make devices compatible with smartphones and other devices. These applications facilitate faster information transfer. Additionally, the measurement results can be accessed anywhere because they are saved within the application.
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In this report, miniaturization of testing devices has been highlighted by Technavio analysts as one of the key emerging trends in the global industrial installation testers market:
Miniaturization of testing devices
Miniaturization refers to the production of smaller device components and products. The miniaturization of devices is one of the key trends in the electronic devices market. This technology aids in improving the usability of devices and reducing the storage space required by them. Industrial users are demanding devices, which are small and do not compromise on performance.
“Installation testers are large when compared with other testing devices such as insulation testers, cable meters, and voltage testers. Manufacturers are trying to reduce the size of installation testers using the miniaturization technology. They are investing in R&D activities that could possibly be a driver for the market growth in the future,” says a senior analyst at Technavio for research on automation.
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Global industrial installation testers market segmentation
This market research report segments the global industrial installation testers market by product feature (low-voltage industrial installation testers and medium-voltage industrial installation testers) and key regions (the Americas, APAC, and EMEA).
The low-voltage industrial installation testers account for the major revenue share of the global industrial installation testers market. Most of the industrial installation testers from key vendors belong to the low-voltage industrial installation testers category.
APAC dominated the global industrial installation testers market, accounting for a share of close to 37%. This region is expected to post steady growth during the forecast period. The market share of APAC will increase by almost 2% by 2022.
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