The global modular instruments market is expected to exhibit moderate growth during 2021-2026. A modular instrument refers to the device used for the configuration of automated test and measurement (T&M) equipment. It consists of frames for connecting functional cards and accommodating input and output channels, along with VME standard, VXI standard, personal computer plug-ins and Compact PCI standard. The instrument uses a computer-user interface and require written test programs for accurate measurements. It also offers various benefits, such as higher channel count for data acquisition, efficiency in automated tests and an integrated space solution for the connection of multiple instruments. Owing to this, it finds extensive applications across various industries, including aerospace, defense, automotive, electronics, semiconductor, telecommunications, etc.
Significant growth in the electronics and semiconductor industries is one of the key factors driving the market. Modular instruments are used to test various components and devices at different stages of the manufacturing cycle and gauge the efficiency of the electronic system. Furthermore, developments in the 4G and 5G infrastructure across the globe is also providing a boost to the market growth. With the advancements in long-term evolution (LTE) systems, increased adoption of smart devices and substantial growth in mobile data traffic, there is a growing requirement for advanced modular instruments for the development of newer technologies, including LTE-A, 4G and 5G. There is also a widespread utilization of PXI-based devices, which is acting as another growth-inducing factor. It is an open and multi-vendor standard that ensures interoperability of modules and chassis from multiple vendors. Other factors, including increasing production of flexible electronics and the integration of connected devices with the Internet of Things (IoT), are projected to drive the market further. Looking forward, IMARC Group expects the global modular instruments market to grow at a CAGR of around 6% during the forecast period (2021-2026).
Breakup by Platform Type:
Breakup by Application:
Breakup by Vertical:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Ametek (VTI Instruments), Astronics Corporation, Cobham, Fortive Corporation, JDS Uniphase, Keysight Technologies, National Instruments, Pickering Interfaces, Premier Measurement Solution, Rohde & Schwarz, Scientech Technologies, Teledyne Lecroy, Teradyne, Viavi Solutions, Yokogawa Electric Co. Ltd. etc.
Key Questions Answered in This Report:
According to the estimates by IMARC Group, the global modular instruments market is expected to witness a CAGR of 6% from 2021 to 2026.
With continuous advancements in long-term evolution (LTE) systems, along with increasing penetration of smart devices and growing mobile data traffic, there is a rise in the demand for modular instruments. This represents one of the key factors impelling the global modular instruments market growth.
Increasing popularity of flexible electronics and the integration of connected devices with the Internet of Things (IoT) is one of the key trends in the global modular instruments market.
The negative impact on the electronics and semiconductor industries due to the sudden outbreak of the COVID-19 pandemic had hampered the market growth for modular instruments.
On the basis of the platform type, the market has been bifurcated into PXI, AXIe and VXI. Currently, PXI holds the majority of the total market share.
On the basis of the application, the market has been bifurcated into research and development, and manufacturing and installation. Among these, research and development represents the largest segment.
Based on the vertical, the market has been segmented into aerospace and defense, automotive, electronics and semiconductor, telecommunications, and others. At present, telecommunication exhibits a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global modular instruments market are Ametek (VTI Instruments), Astronics Corporation, Cobham, Fortive Corporation, JDS Uniphase, Keysight Technologies, National Instruments, Pickering Interfaces, Premier Measurement Solution, Rohde & Schwarz, Scientech Technologies, Teledyne Lecroy, Teradyne, Viavi Solutions, Yokogawa Electric Co. Ltd. etc.
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