Report : South America EMC Testing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering (Hardware and Software, and Services), Service Type (Testing Services, Inspection Services, Certification Services, and Other Services), and End-Use (Consumer Appliances and Electronics, Automotive, Military and Aerospace, IT and Telecommunications, Medical, Industrial, and Others)
Certification Services Segment is Expected to be Fastest Growing During the Forecast Period for SAM Region
According to a new market research study on “SAM EMC Testing Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Offering, Service Type, and End- Use” is expected to reach US$ 100.82 million by 2028 from 67.75 US$ million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the SAM EMC testing market along with the drivers and restraints pertaining to the market growth. Demand for certification services is growing and this is the major factor driving the growth of the SAM EMC testing market. However, issues associated with huge cost of test equipment hinders the growth of SAM EMC testing market.
SAM EMC testing market is segmented into offering, service type, end-use, and country. Based on offering, SAM EMC testing market is segmented into hardware and software and services. The hardware and software segment held the largest market share of the SAM EMC testing market in 2020. Based on service type, the SAM EMC testing market is segmented into testing services, inspection services, certification services, and other services. Testing services segment held the largest market share in 2020. Further, on the basis of end-use, the SAM EMC testing market is segmented into consumer appliances and electronics, automotive, military and aerospace, IT and telecommunications, military & aerospace, industrial, and others. Consumer appliances and electronics segment held the largest market share in 2020. Based on country, the SAM EMC testing market is segmented into Brazil Argentina, and Rest of SAM. Brazil held the largest market share in 2020.
Brazil has the largest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina. In order to combat the spread of the virus, all economic activities across the region were halted. The closure of manufacturing activities across major countries in SAM, such as Brazil and Argentina, affected the adoption of any new technology. The recession in the manufacturing sector has influenced government bodies to take necessary steps in order to boost the sector across the country. Though the electromagnetic compatibility (EMC) testing market is adversely affected due to the COVID-19 outbreak, the government initiatives to attract investors in the manufacturing sector are expected to influence the adoption of the technology across various industries in the region.
AMETEK, Inc.; Bureau Veritas; Intertek Group plc; SGS SA; TÜV SÜ; and UL, LLC are among the leading companies in the SAM EMC testing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, TÜV SÜD is acquiring PROSE Group's testing section in Switzerland, thereby enhancing its rolling stock and component testing capabilities. TÜV SÜD's position as a leading provider of testing, inspection, and certification (TIC) services in the rail industry is strengthened by the purchase.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com