Modular Instruments Market Forecasts to 2028 – Global Analysis By Platform Type (PXI, VXI), Application (Research and Development, Manufacturing and Installation), End User (Aerospace, Transportation) and By Geography
According to Stratistics MRC, the Global Modular Instruments Market is accounted for $1.79 billion in 2020 and is expected to reach $4.21 billion by 2028 growing at a CAGR of 11.3% during the forecast period. The growing aerospace and defense sector in developing economies, rising demand for deployment of LTE from the telecommunications sector, and improved R&D spending in emerging countries are the major factors propelling the market growth. However, the growing penetration of rental and leasing services is hampering the market growth.
Modular instruments are used for the configuration of automated test and measurement (T&M) equipment. This equipment is utilized for the repair, design, verification, maintenance, and development of various electrical and mechanical products.
Based on the platform, the PCI extension for instrumentation (PXI) segment is going to have a huge demand during the forecast period. It is an open, multi-vendor standard governed by the PXI Systems Union that guarantees the interoperability of modules and chassis from dissimilar vendors. This platform is constructed on PCI, and hence, it integrally brings the benefits of reduced cost, better performance, and a mainstream software model to verticals.
By geography, the Asia Pacific is estimated to have a lucrative growth during the forecast period. The increase in investments in the aerospace industry by countries such as India and China that will add to the growth in the region and the massive volume sales of mobile devices that result in the demand for wireless test equipment will bolster the market’s growth prospects in this region.
Some of the key players profiled in the Modular Instruments Market include Anritsu, Aplab, Cobham, EXFO, Fastech Telecommunications, Ixia, JDS Uniphase, Keysight Technologies, National Instruments, Premier Measurement Solution, Qmax Test Equipment, Rohde & Schwarz, Scientech Technologies, SPX, TEKTRONIX, and Yokogawa Electric.
Estimated Market Size in 2020:
USD 1.79 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 4.21 billion
Tables, Graphs & Figures
Platform Type, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Platform Types Covered:
• PCI eXtensions for Instrumentation (PXI)
• AdvancedTCA Extensions for Instrumentation and Test (AXIe)
• VME eXtensions for Instrumentation (VXI)
• Research and Development (R&D)
• Manufacturing and Installation
End Users Covered:
• Aerospace & Defense
• Automotive & Transportation
• Electronics & Semiconductor
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Modular Instruments Market is majorly driven by the rising aerospace and defense sector in developing economies and growing demand for deployment of LTE from the telecommunications sector.
The PCI extensions for instrumentation (PXI) segment are growing at the highest CAGR due to it being an open, multi-vendor standard governed by the PXI systems union that guarantees the interoperability of modules and chassis from dissimilar vendors.
North America dominated with a significant market share due to the high usage of modular instruments in telecommunications, as well as the defiance and aerospace sector.
The Asia Pacific market is growing at the highest CAGR due to the growing number of semiconductors and electronics manufacturers.
Key players in Modular Instruments Market include Anritsu, Aplab, Cobham, EXFO, Fastech Telecommunications, Ixia, JDS Uniphase, Keysight Technologies, National Instruments, Premier Measurement Solution, Qmax Test Equipment, Rohde & Schwarz, Scientech Technologies, SPX, TEKTRONIX, and Yokogawa Electric.
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