IoT and 5G will be key tech trends in the near future
Due to the fact that the development life cycle of any product is shrinking, test & measurement vendors need to be one step ahead to provide the state of the art and latest technology support to the customers. Expectations of faster RoI make all capital investments like T&M more challenging and the customers are always looking at flexible commercial solutions.
The potential opportunities that programs like Digital India and Make in India bring up are immense. The challenge for a program like Make in India is to build the required ecosystem in totality. Without the total ecosystem in place (design, development, fabrication, etc.), the local value addition will be minimal which will take away the price advantages of any local manufacturing.
IoT, M2M and 5G are the key technology trends for the near future. 2G and 3G are passé and 4G has reached maturity stage and will play a key role in taking broadband to the masses.
In an industry like T&M, having collaboration partners is the key to stay ahead in the market and succeed. Vendors should work closely with many such partners to establish a mutually beneficial arrangement to tackle rapid changes in the technology adaptations.
The commercial and licensing models will differ and are purely situational based. Any long term project will follow traditional model and short term engagement or project will adopt pay-as-you-use model.
To future-proof investments, it is important to have partnership with vendors who has strong feature roadmap and development plans and to select solutions that are easy to scale up to support new technologies.