The global modular instruments market size is expected to reach USD 3.11 trillion by 2027, at a compound annual growth rate (CAGR) of 6.3% according to a study conducted by Grand View Research, Inc. Wireless communications is bringing the whole world a lot closer and is continuously on a path of growth. This path of growth is full of new innovation in technology with the support of increased investments by major key players as well. The growth of wireless communication industry has resulted in the adoption of modular instruments for testing, inspecting, and monitoring the performance of the devices. Along with this, new innovations such as evolution of 5G, radar communication, satellite communication, radio, and television broadcasting among others couple with increased adoption of IoT all over is expected to boost the demand in the market to a new level.
Nowadays, the increasing demand for sophisticated communications network is on the rise due to several factors and one of them is the increasing adoption and usage of connected mobile devices along with greater demand for high-speed broadband access to support high-bandwidth applications. Modular instruments are used for testing the devices at manufacturing stage and the increasing adoption and demand for these devices is directly giving a boost to growth rate in modular instruments market.
Among the most important factors for the rise in the demand of modular instruments are their rising usage in multiple applications and different fields. And with the advent of Internet of Things (IoT) on the scene, it is digging up more opportunities for these instruments to be keenly used in. Additionally, the advancement of technologies related to infotainment systems, collision avoidance, driverless vehicles, and the Wi-Fi standard 802.11p in the automotive industry is anticipated to drive the market growth. Some of the popular fields having heavy usage of modular instruments are:
- Aerospace & Defense
- Automotive & Transportation
- Electronics & Semiconductor
COVID-19 has come across as an accelerating factor for the digitalization initiatives in several economies. It has led to increased adoption of digital options for traditional ones, just to maintain social distancing norms. It is expected to drive the demand for digital devices and in turn, this will increase the proliferation of modular instruments in the market.
Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/modular-instruments-market
Further key findings from the study suggest:
- The PXI segment accounted for market share exceeding 78% in 2019 owing to several benefits including improved performance, low cost, and computer-based modular architecture
- The telecommunication segment held the largest market share of over 35.0% in 2019, which can be attributed to rising investments in IoT and 5G technologies. The growing adoption of IoT devices by the end customers is spurring the market growth
- Asia Pacific is expected to witness substantial growth owing to the rising number of electronics and semiconductor manufacturing facilities in the region
Request For Free Sample Report @ https://www.grandviewresearch.com/industry-analysis/modular-instruments-market/request/rs1
Major Key Players:
- Keysight Technologies
- National Instruments
- Fortive Corporation
- Viavi Solutions
- ADLINK Technology Inc.
- Rohde & Schwarz
Have Inquiry before buying about this report, our team of analyst will be glad to help!
Some Recent Developments:
- In September 2019, National Instruments and ETAS joint venture were granted regulatory approval. The new company, ETAS NI Systems GmbH & Co. KG, became fully operational from Jan. 1, 2020. The joint venture, headquartered in Stuttgart, Germany, employs 50 people and scale for growth. NI and ETAS each own 50 percent of the new company. The joint venture, which was announced in March 2019, will establish a deeper partnership between two innovators with decades of experience in the automotive test industry. The development of modern vehicles is growing more complex due to increased levels of automation via driver assistance systems. As a result, automotive suppliers and automakers demand increased efficiency in software development – a demand that ETAS NI Systems addresses now by helping customers achieve shorter design cycles, reduced test times and a faster time to market.
- In October 2019, GBT Technologies Inc., a company engaged in the development of IoT enabled tracking and networking technologies, announced the set-up of research and development for IC micro-solar cell structures. This company is planning to explore solar micro-solar cell technology targeted to operate applications that require either an intermittent or continuous power source.
- In September 2019, NordiaSoft became a wholly owned subsidiary of VIAVI Solutions. The acquisition follows a 4-year long collaboration between VIAVI and NordiaSoft in the field of modular instruments. The expertise and technologies of NordiaSoft will lead to a new generation of test instruments for the Software-Defined Radio market and others. VIAVI’s leading position in a wide range of markets, including 5G communications, will provide NordiaSoft with a much greater opportunity to introduce its technology into new commercial and defense markets.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
Country: United States