BUENOS AIRES, Argentina, Sept. 6, 2012 /PRNewswire/ -- Latin America is one of the emerging regions expected to fuel the growth of the general purpose test equipment industry in the foreseeable future. However, long sales cycles and tight budgets (especially for high-end test equipment), uncertainty concerning capital investments in the region, and a lack of knowledge about test equipment capabilities are expected to curb market growth. Educating customers will be critical to alleviate the impact of these factors on the market.
Frost & Sullivan Measurement & Instrumentation research finds that the Latin American market for general purpose test equipment reached $75.9 million in revenues in 2011. It is expected to more than double during the 2012 to 2018 forecast period due to investments made in the communications network infrastructure in the region, growing electronics manufacturing and outsourcing activities, and an increased level of education likely to boost R&D activity.
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However, capturing the blossoming demand for test equipment is challenging, requiring leading test equipment vendors to work with business partners and local distributors in order to meet the needs for specialized technical support and to improve customer knowledge about equipment procedures, troubleshooting, and maintenance.
"Most sales in Latin America are of an indirect nature. In order to meet the needs for custom solutions and customer education, partnerships with local distributors are formed," says Mariano Kimbara, Senior Research Analyst. "Both pre-sales and post-sales support are important because of the high price of test equipment," adds Kimbara.
Test equipment manufacturers seeking market success must offer devices that cover local needs. To that end, they not only need to build stronger partnerships with local suppliers but also get closer to customers by establishing direct sales channels.
"The Latin American general purpose test equipment market is young and in a development stage. Therefore, the competitive landscape could change drastically depending on the test companies' strategies," highlights Kimbara. "Few vendors are establishing direct sales channels in the region which is expected to help these companies gain better insights into the requirements of Latin American customers.''
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Analysis of the Latin American General Purpose Test Equipment Market
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