The emergence of the industrial internet of things applications in “smart testing” will have significant ramifications for the test and measurement space, according to a new report from Frost & Sullivan.
“Through digital connectivity, the use of test equipment can be maximized, improving the quality of testing and opening a host of future opportunities,” Frost & Sullivan concluded. “In a highly competitive environment, vendors must develop product differentiation and branding strategies in order to penetrate smart testing opportunities.”
Frost expects that the value of industrial IoT in the test market will reach $104.8 million by 2022, reflecting a compound annual growth rate of 6.7%.
“Currently, original equipment manufacturers are cautious when it comes to IIoT technology adoption with significant concern toward security issues and limited entrants in the market,” said Anisha Nikash Dumbre, research analyst for Frost & Sullivan measurement and instrumentation. “However, by 2020, a number of IIoT-enabled test systems are expected to be launched, catering to diverse services and fields within the industrial ecosystem.” Dumbre went on to add that “in the future, there will be more focus on achieving zero defects in products and therefore the need for smarter test systems. Thus, no waste or rework will be caused, thereby avoiding revenue loss. With this in mind, there will be a heavy focus on the research and development stage of the equipment to ensure zero defects. Continuous monitoring of equipment and IIoT technology will become the most important aspect to achieving zero defects.”