Technology’s effects are far-reaching. Organizations who strive for change and fight hard to gain or maintain a competitive edge. Businesses do this through frequent audits of company operations, in which they seek to maximize worker effectiveness and maintain peak performance goals. Trade tools and other assets can be an important part of helping organizations maintains these goals. In this case, we’ll focus on instruments used for testing by an engineer. In what ways is technology changing testing instruments?
According to a study of the test equipment industry done by KPMG, the test and measurement industry is expected to grow at an annual rate of 7.4% through 2017. This projected figure shows healthy growth for this industry. Another statistic points out that expenditures in global R&D are also expected to rise by 1.8%. Many organizations feel the pinch of tightening budgets which limits their access to preferred gear. As a result engineering teams and R&D departments are very receptive to instrument rentals and leasing instead of permanent ownership. For-profit entities are also emphasizing maximum efficiency and cutting costs. (Corbett, Groh)
People expect their technology to do more and more. This, in turn, makes the electrical components of new products even more complex requiring extensive testing and troubleshooting. Newly released products must now pass tighter testing regulations, be available to the public more quickly, and exhibit top quality. More complex instruments are needed to adhere to these new standards while also being mindful of budget constraints, those seeking temporary ownership, and long utility life of the instrument.
Test equipment providers are aware of this issue and try to offer solutions to honor the calls of engineers to stay within budget and maintain peak performance. Companies such as Tektronix have launched product series such as the MDO3000. This model specifically focuses on pushing multiple machines such as spectrum analyzers, logic analyzers, arbitrary function generators, and many others into a single machine for a reasonable price.
Test instruments in the past often did not update their capabilities frequently. Today, instruments are often now sold with the capability to update/upgrade the instrument’s capability and software. Much like a computer, instruments can be updated with new drivers, components, and adaptors to accept most probes on the market. Such inclusions ensure these instruments stay on the benches of engineers longer, catering to those who want their equipment to be more lasting.
With the rapid changes in technology, and the rapid changes in test equipment gear, it makes more sense than ever to rent/lease test equipment, especially if that gear will be used on a specific project. It all depends upon your organization’s ROI, CAPex and OPex philosophy: in some cases it may make sense to purchase low-cost new or refurbished gear; in other cases to rent or lease.
If you have any question on available instrument rental, leasing, and other acquisition options contact ConRes by emailing TMRentals@conres.com or call us anytime at 800-937-4688.
- Corbett, Chrisanne, and Tom Groh. “Test & Measurement Industry Overview.” (2013): 1-6.Â Test & Measurement Industry Overview. KPMG Corporate Finance, 23 Feb. 2013. Web. 9 Sept. 2014. <http://www.kpmg-institutes.com/content/dam/kpmg/advisory-institute/pdf/2013/test-measurement-review-fall-2013.pdf>.