According to the latest market research study released by Technavio, the global modular instruments market is expected to grow at a CAGR of more than 8% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global modular instruments market based on product type:
Global modular instruments market share by end-user type 2015
|
Semiconductor and electronics |
39.00% |
|
Telecommunication |
33.00% |
|
Aerospace and defense |
28.00% |
Source: Technavio
The top three revenue contributing end-user segments are discussed below:
Global modular instruments market by semiconductor and electronics industry
Some of the processes that require the use of modular instruments in the electronics industry include mechanical and electrical engineering, submicron and nano-precision technology, photonics production, and nanotechnology. Circuit board manufacturing is highly rated because of the advances it makes into new, faster, and more accurate manufacturing technologies, and is expected to propel the demand for modular instruments. The steady growth of the electronics industry coupled with the demand for enhanced technology is expected to drive R&D activities, leading to the growth of the global modular instruments market for the semiconductor and electronics industry.
“End-users of T&M equipment face problems due to incompatibility between products that are meant to work together but do not. This becomes a challenge for vendors of T&M equipment as it results in the loss of potential customers. As a countermeasure, vendors in the market have made conducting interoperability tests with different products a standard procedure. Interoperability is expected to happen shortly, where vendors are expected to manufacture a product based on certain specified standards,” says Anju Ajaykumar, a lead analyst at Technavio for tools and components.
Global modular instruments market by telecommunication industry
During 2015, the telecommunication industry accounted for almost 33% of the global sales of modular instrument. In the telecommunications sector, modular instruments help network operators, equipment manufacturers, and broadband service providers deliver high-quality triple-play services — voice, video, and data over mobile and fixed networks. Modular instruments help network operators to roll out new services, reduce CAPEX, and assist in delivering QoS in each phase of the network lifecycle, including R&D, manufacturing, deployment, and service assurance. The projected growth of the global broadband and telecom industry is likely to fuel the demand for modular instruments during the forecast period.
Global modular instruments market by aerospace and defense industry
Commercial airlines are working toward upgrading technologies by increasing fuel efficiency. Also, they are expanding routes to more destinations and unlocking the market potential in freight shipping through operations in newer geographies. Such moves necessitate quicker access to components, streamlined manufacturing schedules, and rigorous quality testing of products and services. These factors are expected to influence the demand for modular instruments in the aerospace industry.
Defense companies are working toward developing new technologies, such as wearables, advanced optics, technically evolved sensors, and autonomous vehicles to boost situational awareness and enable faster access to real-time information. These developments are geared toward helping combatants in various combat zones and are reshaping the defense industry. Defense companies are also seeking methods to mitigate risks inherent in supply chains; meet intensified delivery schedules; and enhance their revenues in new and emerging markets such as Indonesia and Taiwan.
The leading vendors operating in the global modular instruments market are:
- Cobham
- Keysight Technologies
- National Instruments
- Rohde & Schwarz
Other prominent vendors in the market include Anritsu, Aplab Limited, EXFO, Fastech Telecommunications, Ixia, JDS Uniphase, Qmax Test Equipments, Premier Measurement Solution, Scientech Technologies, SPX, TEKTRONIX, and Yokogawa Electric.
A more detailed analysis is available in the Technavio report titled, ‘Global Modular Instruments Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Test and Measurement Market 2016-2020
- Global Industrial Data Acquisition Systems Market 2016-2020
- Global Industrial Embedded Systems Market 2016-2020
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