Balance features, price in process analytical instruments market, analysis says

A balance between advanced product features and price is crucial for success in the process analytical instruments market, a recent analysis from Frost& Sullivan (F&S) reveals.

06/16/2005


A balance between advanced product features and price is crucial for success in the process analytical instruments market, a recent analysis from Frost & Sullivan (F&S) reveals. “World Process Analytical Instruments Market” indicates that revenue in this market totaled $2.28 billion in 2004 and is projected to reach $3.07 billion in 2011. Demand for new equipment in developing regions allows manufacturers of process analytical instruments to sustain revenues despite stagnating need from North America, Europe, and Japan. The study analyzes key market dynamics and trends that influence demand for process analytical instruments, such as chromatographs, spectrometers, gas analyzers, and liquid analyzers.

“Rapidly developing markets are showing excellent growth rates both in number of units sold and market revenue, but higher profit margins, which vendors expect from mature markets, are hard to come by,” says T.V. Navin Kumar, F&S research analyst. At the same time, end-users in developed countries demand cheaper products with more product features and benefits, the report goes on. To maintain profit margins, vendors need to offer product variants and services at different price levels to fit the individual needs of the developing and developed markets, says F&S.

The report notes that customers demand cheaper instruments that communicate with other process analyzers. Such technology advances would increase profit margins and stimulate demand in mature markets, F&S says, adding that since fundamental instrument design remains similar, a good strategy for differentiation would be to focus on associated electronics and communications of process analyzers.

Introduction of software and digital communications, add-on features such as inter-connectivity with other process analyzers, and operability with handheld devices and laptops are gaining in significance, the report says. Going forward, it concludes, an appropriate blend of advanced product features, excellent customer support and service strategy, and competitive pricing will be advance products in the process analytical instruments market. The report includes revenue forecasts, demand analysis, and strategic recommendations that assist service providers in capturing market share.

—Jeanine Katzel, senior editor, Control Engineering, jkatzel@reedbusiness.com





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Robotic safety, collaboration, standards; DCS migration tips; IT/OT convergence; 2017 Control Engineering Salary and Career Survey
Integrated mobility; Artificial intelligence; Predictive motion control; Sensors and control system inputs; Asset Management; Cybersecurity
Big Data and IIoT value; Monitoring Big Data; Robotics safety standards and programming; Learning about PID
Featured articles highlight technologies that enable the Industrial Internet of Things, IIoT-related products and strategies to get data more easily to the user.
This article collection contains several articles on how automation and controls are helping human-machine interface (HMI) hardware and software advance.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Mobility as the means to offshore innovation; Preventing another Deepwater Horizon; ROVs as subsea robots; SCADA and the radio spectrum
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me