Dubai, U.A.E. – The rapid proliferation of service-based models, including Software-as-a-Service (SaaS) and asset management, is attracting new market participants to the analytical instrumentation space. In just a few years, analytical SaaS instrumentation and cloud-based alternatives to legacy solutions will dominate the industrial sector due to the shift in customer focus from instrumentation features to the ways in which the technology can help enhance business outcomes.
"As the data collected from instruments can potentially deliver more value than the hardware, there is high demand for analytical instruments that mine data and convert it into actionable insights,” said Mariano Kimbara, Senior Industry Analyst, Industrial Group at Frost & Sullivan. "Consequently, service providers are delivering software solutions that help digitize lab operations by intelligently connecting people, processes, data, and instruments. These solutions will allow users to target services more strategically, better utilize assets, reduce downtime, and plan program schedules."
For further information on this analysis, please click here.
Frost & Sullivan’s recent analysis, Advanced Services in the Analytical Instrumentation Market, Forecast to 2022, identifies new areas of advanced services, including asset management services, radio frequency identification (RFID) inventory control services, laboratory intelligence services, consulting services, and compliance services. It also offers a deep dive into new data-driven business models.
"In the current connected era of continual business transformation, there is an intense need to consolidate all work order management activity into a unified, automated data platform to optimize costs," noted Kimbara. "System vendors are, therefore, offering new, unified platforms that remove organizational silos and ensure connections among cross-functional divisions, linking sales, procurement, finance, logistics, suppliers, and scientists."
In addition to developing integrated service capabilities, market vendors could explore the growth opportunities present in:
•Delivering an OPEX model. Create an asset management service that increases visibility into the condition of existing assets.
•Shifting from a reactive business model to a proactive business model. A central data platform with automated allocation of instruments and inventory based on project demand and timelines can help anticipate events and lower costs.
•Tapping opportunities to cross-sell. The growth of asset management services could lead to revenue opportunities from rental services.
•Delivering offline and online measurement services. They can expand service lines through partnerships with software analytics providers.
•Making available expert, multi-vendor instruments service support for instruments in the entire laboratory.
Advanced Services in the Analytical Instrumentation Market, Forecast to 2022 is part of Frost & Sullivan’s global Test & Measurement Growth Partnership Service program.
-Ends-
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion
Advanced Services in the Analytical Instrumentation Market, Forecast to 2022
[K26B-30]
Media Contact:
Anita Chandhoke
Head – PR & Corporate Communications - MEA
P: +91 80 67028020
E: achandhoke@frost.com
http://ww2.frost.com
Twitter: @Frost_Sullivan & @Frost_MENASA
Facebook: http://www.facebook.com/frostandsullivan
LinkedIn: https://www.linkedin.com/showcase/frost-&-sullivan-%E2%80%93-middle-east-north-africa-south-asia/
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
