The Global Modular Instruments Market is expected to reach USD 2.51 billion by 2025, from USD 1.21 billion in 2017 growing at a CAGR of 9.5% during the forecast period of 2019 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2019 to 2025.
Modular instruments are devices that are utilized for the configuration of automated test and measurement (T&M) equipment. Communication T&M solutions are being adopted globally by various end-users leading to high growth of modular instruments market. Electronics manufacturing is a highly competitive industry with challenging standards for reliability and performance. This subsequently drives the need for testing these components and devices at different stages of the manufacturing cycle, which paves way for plenty opportunities for the modular instruments market.
Major Market Drivers:
- Growing Internet of Things and rapid adaption of subsequent based devices.
- Increasing R&D spend and development
- Low cost advantage of modular instruments.
- Increasing demand from telecommunications.
- Penetrating Real State and associated services.
- Market entry difficult for small players as few large players dominate the market.
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Major Key players profiled in this report are:
Keysight Technologies, National Instruments, Rohde & Schwarz India Pvt Ltd., VIAVI Solutions Inc., Fortive, AMETEK.Inc, Teradyne Inc., Giga-tronics Incorporated, ANRITSU Group, Yokogawa Electric Corporation, Cobham Plc., EXFO Inc., Aplab Limited, Scientech Technologies Pvt. Ltd., Lumentum Holdings Inc., Astronics Corporation, ADLINK Technology Inc., Premier Measurement Solutions Pvt Ltd., Qmax Test Equipments Pvt Ltd., Tektronix Inc. , and Ixia among others.
- The global modular instruments market is segmented based on platform type, application, industry verticals, and geographical segments.
- Based on the platform type, the market is further segmented into PXI, AXIe, VXI.
- Based on application, the market is further segmented into R&D, manufacturing & installation.
- Based on industry vertical, the market is further segmented into aerospace & defence, automotive, electronics & semiconductors, and telecommunication.
- Based on geography the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and Brazil among others.
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The report encompasses a thorough study of current situation of the global market along with several market dynamics Competitor analysis is one of the most important aspects of market research report which helps businesses decide upon the strategies by comparing them with the competitors. The use of newest and advanced tools and techniques used for this report makes it the finest in the class. Competitor strategies highlighted in this Global Modular Instruments Market report mainly include new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others that boost their footprints in this market.
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