The global modular instruments market is worth US$ 1.8 Billion as of now and is expected to reach US$ 4.2 Billion by the year 2033 at a CAGR of 8.5% between 2023 and 2033.
Modular instruments could be referred to as hardware devices containing several functional cards useful for benchtop measurements and tests. They make provisions for high-speed data transfer, which could be categorized into AXIe, PXI, VXI, and likewise. They are better known as faceless instruments as they are devoid of user interface.
The modular instruments are programmed with drivers (a test program) for facilitating data communication and transfer amongst the other instruments. Along these lines, National Instruments Corporation, in November 2022, did launch a novel visual studio software interface that does offer frequency coverage close to 23 GHz and bandwidth of 2 GHz.
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Future Market Insights has entailed these facts with future prospects in its latest market study entitled ‘Modular Instruments Market’. It has its team of analysts and consultants to deploy an eagle’s eye view in its primary, secondary, and tertiary modes of research.
“Growing incorporation of IoT, 5G, automotive technology, AI, and virtual reality calls for modular instruments to check for notable performance”, says an analyst from Future Market Insights.
Key Takeaways from Modular Instruments Market
- North America holds the largest market share. This could be credited to the US housing several companies as well as suppliers. On these grounds, National Instruments Corporation, in November 2022, tabled a novel visual studio software interface with frequency range of close to 23 GHz. Herein, electric car vertical and performance testing paradigm are witnessing notable growth. Tesla, in 2019, did acquire Maxell Technologies. As such, the former can now make batteries available that are cost-effective and claim to have a longer lifespan by using the latter’s dry battery electrode technology.
- Europe is expected to witness a significant market share in the near future. It has already been kickstarted. This is evident from the fact that Spain-based Iberdrola, in the year 2019, witnessed photovoltaic installation with over 1.4 Million solar panels and 500 MW installed capacity. As of now, the plat supplies electricity to 250K people on a yearly basis.
- The Asia-Pacific is expected to grow at a faster rate in the modular instruments market in the near future with South Korea, India, and China ruling the roost. On this note, Tokyo Electron Ltd., in March 2022, fastened deployment times to production as well as development settings by switching over to red Hat OpenShift-based container-based architecture. South Korea is also not behind. Samsung, in January 2020, did commit close to US$ 500 Million for expanding operations.
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Competitive Instruments
- Keysight Technologies, in April 2022, did release a PCIe test solution featuring cutting-edge technologies for identification, simulation, conformity, and validation testing. As an outcome, the customers are able to connect the physical layers and make use of receivers and transmitters for boosting the clientele.
- Keysight Technologies, in April 2023, tabled the new-fangled Novus mini. It comes across as a network test platform with footprint catering to the requirements of network engineers to deploy automotive as well as IoT equipment.
- Viavi Solutions, Inc., came up with PSD90-3 fuel quantity test set at AEA 2023. This test kit thus enable user to diagnose, test, and identify the problems. It could test any engine oil system, LOX (liquid oxygen), or capacitive water and fuel.
- Viavi Solutions Inc., in March 2020, put forth a comprehensive suite of measurement and test solutions for speeding up high-speed network testing all through each step of products’ lifecycle. One amongst them is VIAVI ONT 800G FLEX DCO Module that integrates 400GE QSFP-DD and 400G CFP2-DCO transponders.
- Teledyne LeCroy, in November 2022, came up with SimPASS USB platform that lends support to USB4 with 80 Gbps of bandwidth.
What does the Report say?
- The research study is based on platform type (PX, Axle, and VXI), by application (research & development and manufacturing & installation), and by vertical (telecommunications, electronics & semiconductor, defense & aerospace, and automotive & transportation).
- With realization of the fact that modular instruments help in evaluation of parts and determining the working of electronic systems, the global modular instruments market is expected to grow on a remarkable note in the near future.
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Modular Instruments Market Segmentation
By Platform Type:
- PX
- AXIe
- VXI
By Application:
- Research & Development
- Manufacturing & Installation
By Vertical:
- Telecommunications
- Electronics & Semiconductor
- Defense and Aerospace
- Automotive & Transportation
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa(MEA)
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