Chicago, Oct. 24, 2023 (GLOBE NEWSWIRE) -- German manufacturing industries outpace their European counterparts in the implementation and adoption of digital technologies. Moreover, Germany, a global automotive export powerhouse and home to renowned automotive manufacturers, presents substantial growth opportunities in this sector. Notably, players in the automobile market are embracing acquisition as a means to enhance their geographic presence. As an example, in March 2022, VERISCO GmbH (verisco.de) and Keysight Technologies entered into an asset purchase agreement. Under this agreement, all VERISCO employees and former directors have joined Keysight, and Keysight now offers VERISCO's products and services.
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The addition of VERISCO's testing solutions to Keysight's EV Charging Test portfolio bolsters Keysight Technologies' ability to provide cutting-edge, leading-edge solutions, primarily focused on software, for EV charging applications. This integration enables EV and EVSE customers to access market-leading interoperability testing solutions with a particular emphasis on DC fast charging applications conforming to all major international standards in the rapidly expanding EV charging market. Germany market to grow at 3.8% in test and measurement equipment market.
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The government has extended support for purchasing electric vehicles through cash bonuses until 2025, alongside an expansion of the country's charging infrastructure and subsidies for battery recharging. Furthermore, the government plans to introduce incentives for replacing aging trucks and assisting component manufacturers in adopting new technology. These government initiatives are anticipated to drive a swift resurgence in demand for test and measurement equipment in the country.
