Global Modular Instruments Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
"Global Modular Instruments Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global modular instruments market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global modular instruments market report has been segmented on the basis of platform type, application, vertical, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Modular instruments are equipment containing frames for connecting functional cards. This is helpful for instruments to accommodate input and output channels, as well as adjust measurement capability according to applications. Commonly, modular instruments use computer user interface instead of controls embedded in frame of instruments. They are also known as faceless instruments, as they don’t have direct interface. Modular instruments require written test program that conducts measurement and provides results. Generally, modular instruments are provided with software interfaces which are known as drivers.
Growing demand for modular instruments, owing to its advantages over other instruments is a major factor driving growth of the global modular instruments market. Modular instruments are flexible, coming in all sizes and are available at low cost. Modular instruments also provide high speed, integration, and functionality, which are factors increasing preference for modular instruments among end-users. Increasing usage of modular instruments in aerospace and defence sectors is another factor fueling growth of the global market. Furthermore, increasing adoption for modular instruments from telecommunications sector is a factor expected to boost growth of the global modular instruments market in the near future.
However, growing leasing and rental services is a factor that may hamper growth of the global modular instruments market. Nevertheless, growing IoT services, as well as 5G infrastructure and high adoption of IoT devices can create high revenue opportunities for players in the target market.
On the basis of vertical, the market is segmented into electronics and semiconductor, defence and aerospace, telecommunication, automotive and transportation, and others. Transportation segment anticipated to witness high growth in the near future. Growing telecommunications infrastructure and increasing use of 3G, 4G, LTE technologies are factors expected to support growth of this segment.
Market in North America accounts for major share in terms of revenue and is expected to maintain its position over the forecast period. High usage of modular instruments in telecommunications, as well as defence and aerospace sector is a factor propelling growth of the target market in this region. Asia Pacific market is expected to account for second highest share in terms of revenue in the near future, followed by Europe. Increasing number of semiconductors and electronics manufacturers is a factor fueling growth of the target market in Asia Pacific region. In addition, increasing use of wireless communication devices is another factor anticipated to drive growth of the target market in Asia Pacific region. The markets in Latin America and Middle East & Africa are expected to register moderate growth rate in the global modular instruments market over the forecast period.
Global Modular Instruments Market Segmentation:
Segmentation by platform type:
Segmentation by application:
- Manufacturing and Installation
- Research and Development
Segmentation by vertical:
- Electronics and Semiconductor
- Defence and Aerospace
- Automotive and Transportation
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- Keysight Technologies, Inc.
- National Instruments Corporation
- Viavi Solutions Inc.
- Fortive Corporation
- Astronics Corporation
- Teledyne LeCroy, Inc.
- Rohde & Schwarz GmbH & Company KG
- AMETEK, Inc. (VTI Instruments Corporation)
- Teradyne, Inc.
- Pickering Interfaces Ltd.
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