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Increasing Customer Outsourcing Drives Business Value for New Services
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It is no secret that getting profitability from hardware in the professional services Test and Measurement (T&M) market has become increasingly challenging. As a result, there is a need for new designs to be more flexible to the constantly changing technology. It is not test equipment against test equipment anymore, and test equipment vendors cannot only focus on hardware. Instead, there is a significant focus on building a platform solution that effectively integrates hardware, software analytics, and services. Companies are focused on redesigning the customer experience across the entire life cycle of test equipment by considering all the interactions that users have with the test product.This research service analyzes new areas of advanced services that test equipment companies want to invest in—beyond the traditional services of repair, calibration, and leasing. It provides forecasts from 2016 to 2021 for 3 main advanced service sectors namely, asset management, prototyping and consulting, and test data analytics for manufacturing. Customer expectations are changing according to business propositions and contrary to previous belief, the term ‘disruption’ has come to indicate challenging assumptions by delivering new value to customers and generating new revenue streams beyond the constraints of an existing operating model.Some of the key questions that this study will answer are as follows.• What are the new advanced service-based business models emerging in the T&M services space? • Are existing competitors structured correctly to meet customer needs related to advanced services?• To what extent have competitors in the T&M services space developed capabilities related to advanced services? • What is the total market size of the global advanced services market in T&M and what are its growth opportunities?• Are existing services offered meeting customer needs or is additional development needed?• Which end-user verticals show major growth opportunities?
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