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Increased R&D Investment Initiatives Will Drive the Test and Measurement Equipment Market in India Through 2019: TechNavioIncrease R&D investments will boost the Test and Measurement (T&M) Equipment Market in India, which is expected to grow at a CAGR of 13.24 percent from 2014-2019, says research firm TechNavio. About the Report A growing need for new product development has led to several investment initiatives in R&D. The growth potential in India has encouraged many global T&M equipment vendors to enter the market by providing high-quality, multi-functional T&M equipment. "The availability of a skilled workforce has attracted many vendors to open R&D centers in India," says Faisal Ghaus, Vice President of TechNavio. "There are low-cost advantage in the manufacturing sector in India compared to other countries, which has made India a manufacturing hub and led to growth in the T&M Equipment Market." The new report from TechNavio also emphasizes the growing need for compatibility of test equipment, which has become a key focus for vendors while developing new products. Continuously evolving technology has shortened the lifecycle of T&M equipment, since new technology requires new T&M equipment for testing. "The need for effective interoperability between old and new technologies will drive the T&M Equipment Market in India during the forecast period," says Ghaus. Key Information Covered in the Report:
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