Modular Instruments Market Report 2022-2027: Industry Growth Overview, Share, Size, and Forecast

SHERIDAN, WY, UNITED STATES, October 20, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Modular Instruments Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” the global modular instruments market size reached US$ 1.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.9 Billion by 2027, exhibiting a growth rate (CAGR) of 9.1% during 2022-2027. Modular instruments refer to the devices utilized to configure automated test and measurement (T&M) equipment. They consist of frames for connecting functional cards and accommodating output and input channels, VXI and VME standards, personal computer plug-ins, and compact PCI standards. Modular instruments utilize a computer-user interface and need written test programs for accurate measurements. They offer various benefits, including improved channel count for data acquisition, enhanced efficiency in automated tests, and an integrated space solution to connect multiple devices. As a result, modular instruments find extensive applications across numerous sectors, such as semiconductors, aerospace, defense, electronics, automotive, telecommunications, etc.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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Global Modular Instruments Market Trends:

The expanding electronics and semiconductor segments across countries are primarily driving the modular instruments market. Apart from this, the increasing usage of the product to test several components and equipment at multiple stages of the manufacturing cycle and check the efficiency of the electronic systems is also positively influencing the market growth. Additionally, the development of 4G and 5G infrastructure, especially in developing countries, is acting as another significant growth-inducing factor. Moreover, the launch of advanced long-term evolution (LTE) systems, the elevating adoption of smart devices, and the growing mobile data traffic are further stimulating the global market. Besides this, the rising utilization of PXI-based devices, which have an open and multi-vendor standard to ensure interoperability of modules and chassis from multiple vendors, the escalating production of flexible electronics, and the shifting preferences toward connected devices integrated with the Internet of Things (IoT) technology are expected to propel the modular instruments market over the forecasted period.

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Global Modular Instruments Market 2022-2027 Analysis and Segmentation:

Competitive Landscape with Key players:

• AMETEK, Inc.
• Astronics Corporation
• Cobham Plc
• Fortive Corporation
• JDS Uniphase Corporation
• Keysight Technologies
• National Instruments Corporation
• Pickering Interfaces Ltd.
• Premier Measurement Solutions Pvt Ltd.
• Rohde & Schwarz GmbH & Co KG
• Scientech Technologies Pvt. Ltd.
• Teledyne LeCroy Inc.
• Teradyne, Inc.
• Viavi Solutions Inc.
• Yokogawa Electric Corporation

Breakup by Application:

• Research and Development
• Manufacturing and Installation

Breakup by Platform Type:

• PXI
• AXIe
• VXI

Breakup by Vertical:

• Aerospace and Defense
• Automotive
• Electronics and Semiconductor
• Telecommunication
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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IMARC Services Private Limited
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