The “Modular Instruments Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global modular instruments market is evaluated at US$1.637 billion for the year 2019 and is estimated to grow at a CAGR of 9.31% to reach a market size of US$3.052 billion by the year 2026.
Modular instruments are the types of electronic devices that use a frame wherein different types of or a varying number of functional cards can be plugged. This is so that the instrument can accommodate a range of input/output channels or tailor its measurement capability according to the specific application being addressed. It generally uses a computer user interface instead of displays and controls embedded in an instrument, hence, known as faceless instruments. Moreover, it is provided with programmatic software interfaces known as drivers. This equipment is used to develop, design, maintain, verify, and repair various electronic and mechanical products. As modular instruments are compact, flexible, fast, cost-effective, and available in various sizes, they are utilized in photonics production, submicron and nano-precision technology, and mechanical and electrical engineering.
The market for modular instruments is anticipated to be driven by the increase in awareness about the devices amongst the end-users. For instance, high channel count; these measurements, such as data acquisition, really benefit from the standards-based modular form factor. Module size is relatively big, so a large number of channels can be included. Data acquisition usually requires many types of channels. Not everything can be purchased from one vendor. The mix and match capability of modular instruments allow the system to be easily configured from multiple vendors.
Secondly, automated test systems; these instruments address the needs of automated test systems very well. Automated test systems typically involve many types of instruments. The instruments are driven by software, not directly manipulated by a user. Packaging density is a concern, and the logistics of racking and cabling are as important to system design as making measurements. With modular instruments, modules can be acquired from multiple vendors. Additionally, the space factor; for a given volume and multiple instruments, modular instruments usually create the smallest, most compact solution. These factors have encouraged the adoption of modular instruments over the years and with the rapid pace of technological developments, it is expected to do so in the coming years as well.
The demand is prominently influenced by the growth of the test and measurement instruments market. Modular instruments are equipment that is used to test, monitor, and are user-defined measurement systems.
The advent of COVID-19 had an adverse impact on the global modular instruments market. The immense downturn in the global semiconductor industry has been a significant reason for the decline in the demand for modular instruments at a global level. The pandemic substantially affected the businesses worldwide wherein the lockdowns were imposed in several countries which further disrupted the supply chain. This made it even more difficult to attain the raw materials to manufacture the instrument during the initial period. On the supply side, the pandemic has exposed risks that were previously unrecognized, leading to potential shortages of critical parts and components. In response, many semiconductor companies are already reconfiguring their supply chains to improve resiliency, and the changes may continue into the next normal. The covid-19 crisis has given rise to a new normal wherein the adoption of emerging technologies has picked up the pace to facilitate the employees. Remote manufacturing, diagnostics, and maintenance could all become permanent features. The companies are expected to start, a hybrid model in which a certain number of employees are remote and the rest remain on site. The efficiencies gained through such changes, as well as their start-up costs, could influence future semiconductor revenues, which in turn will fuel the growth of the market in the coming years.
- Keysight Technologies Inc.
- National Instruments Corporation
- Viavi Solutions Inc.
- Fortive Corporation
- Astronics Corporation
- Teledyne LeCroy Inc.
- Rohde & Schwarz GmbH & Company KG
- AMETEK Inc.
- Teradyne Inc.
- Pickering Interfaces Ltd
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Modular instruments market Analysis, by Type
6. Modular instruments market Analysis, by Industry vertical
6.2. Aerospace And Defense
6.4. Electrical And Electronics
7. Modular instruments market Analysis, by Geography
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
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