Rise in demand for modular instruments by product designers & manufacturers and increase in adoption of electronic devices drive the growth of the Latin America measurement and test equipment market. Based on service type, the calibration services segment generated the highest share in 2020. By industry vertical, on the other hand, the automotive segment would cite the fastest CAGR by 2030.

Portland, OR, June 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Latin America measurement and test equipment market was estimated at $1.54 billion in 2020 and is expected to hit $2.78 billion by 2030, registering a CAGR of 6.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Rise in demand for modular instruments by product designers & manufacturers and increase in adoption of electronic devices drive the growth of the Latin America measurement and test equipment market. On the other hand, strong inclination of customers toward adoption of measurement and test equipment on rental basis is one of the prime factors impeding the growth to some extent. However, advent of 5G technology and deployment of LTE and LTE-Advanced (4G) networks is expected to provide lucrative opportunities in the industry.

Download Free Sample Report (Get Detailed Analysis in PDF - 224 Pages): https://www.alliedmarketresearch.com/request-sample/17003

COVID-19 Scenario:

• Lack of skilled workforce and delay or cancelation of projects during the pandemic impacted the Latin America measurement and test equipment market negatively.
• Nevertheless, with the manufacturing and industrial sectors getting back to normalcy, the market has started recovering at a swift pace and is expected to get back on track soon.

The Latin America measurement and test equipment market is analyzed across product type, service type, and industry vertical. Based on product type, the general purpose test equipment segment accounted for the major share in 2020, holding nearly three-fifths of the total market. The mechanical test equipment segment, however, would exhibit the fastest CAGR of 7.0% throughout the forecast period.

Interested to Procure the Data? Inquire Here: https://www.alliedmarketresearch.com/purchase-enquiry/17003

Based on service type, the calibration services segment generated the highest share in 2020, accounting for more than two-fifths of the total market. The Repair or After Sale Services segment, on the other hand, would exhibit the fastest CAGR of 6.7% from 2021 to 2030.

Based on industry vertical, the healthcare segment held the lion’s share in 2020, garnering nearly one-fifth of the total market. The automotive segment, on the other hand, is expected to cite the fastest CAGR of 8.5% by 2030.

Get Detailed COVID-19 Impact Analysis on the Latin America Measurement and Test Equipment Market: https://www.alliedmarketresearch.com/request-for-customization/17003?reqfor=covid    

The key market players analyzed in the Latin America measurement and test equipment market report include Instek, Uni-T, Owon, National Instrument Corporation, Hantek, Fortive Corporation, Rigol, Rohde & Schwarz Gmbh, Anritsu Corporation, Keysight Technologies, Yokogawa Electric Corporation. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

Access AVENUE - A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
https://www.alliedmarketresearch.com/avenue/trial/starter

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.