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Modular Instruments Market Segmented By Platform Type (PXI, VXI, AXI), PXI modular instrument demand is predicted to grow at a CAGR of 8.4% over the next few years.
The global modular instruments market value was estimated at US$ 1.7 billion in 2022 and is expected to reach US$ 1.8 billion by 2023, growing at an annual CAGR of 8.5% from 2023 to 2033. According to PMR’s estimates, the market will reach US$ 4.2 billion by 2033.
Users can automate measurements and tests using modular instrument applications, which are software programs that allow them to configure and reconfigure electronic test and measurement devices for different purposes. Users can configure instrument settings, acquire and analyze data, and generate reports with these applications. Researchers, manufacturers, and quality control specialists often use them.
The developing economies' aerospace and defense sectors, the telecommunications sector's increasing demand for LTE deployment, and increased R&D expenditures in emerging countries are driving the market. Oil and gas companies are other primary users of modular instruments. In the oil & gas industry, the expansion of exploration activities and the growing need for automated processes drive the demand for modular instruments.
Rental and leasing services are increasingly being offered, which is hampering the growth of the market. Instruments that are modular can be connected using a computer-user interface that accommodates input and output channels and functional cards. VME, VXI, plug-ins for personal computers, and CompactPCI are some of the standards used in modular instruments in industries. In addition to accepting modules from many vendors, standards-based modular instruments can be customized and constructed by their users.
Due to their cost-saving characteristics and ability to increase durability, output, and flexibility, global demand for them is on the rise. The use of smart devices and data traffic on mobile devices has increased, which increases the demand for modular devices as long-term evolution (LTE) systems advance.
| Report Attributes | Details |
|---|---|
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Modular instrument Market Size (2023) |
US$ 1.8 billion |
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Modular Instrument Projected Market Value (2033) |
US$ 4.2 billion |
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Modular Instrument Market CAGR (2023 to 2033) |
8.5% |
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According to Persistence Market Research (PMR), the global modular instrument market is expected to grow at 8.5% CAGR from 2023 to 2033. The market registered a 9.2% CAGR in the historical period from 2018 to 2022.
A multitude of applications will be supported by 5G deployment, including driverless cars, IoT, auto-connectivity, and user-specific applications. Modular instruments are expected to grow as patient-specific treatment and early disease diagnosis become increasingly important
Modern technological advances have facilitated the creation of new and improved modular instruments. As a result, the market for modular instruments will become more competitive. Innovations in the electronic industry and rising research and development expenditures have increased the demand for modular instruments.
In the coming years, the availability of low-cost modular instruments could further increase the demand for these instruments. As the number of vendors increases rapidly, the market is subject to intense competition.
Many industries employ modular instruments, including photonics production, nanotechnology, and electrical and mechanical engineering. Compared to traditional instruments, modular instruments provide a faster starting point for the creation of test systems, with binary driver interfaces enabling higher throughput.
The box instruments are also less expensive, and signal quality is not adversely affected. Modular instruments can be calibrated and adjusted through calibration services.
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Instrument manufacturers and service providers are increasingly collaborating for the purpose of delivering integrated solutions to the customer. Modular instruments with greater flexibility and adaptability are becoming increasingly important as nanotechnology and proteomics becomes more sophisticated.
5G deployment is expected to open up major growth opportunities. The incorporation of modular instruments in 5G technologies is boosting the demand for modular tools as research is focusing on reducing development times and complexity. The software code of open-source drivers can be customized and modified to fit a wide range of applications, making them highly adaptable. The cost-effectiveness of open-source drivers makes them a great option for many users.
Growing demand for the compactness of electronic devices is also supporting the growth of modular instruments. The high processing speed and market flexibility of FPGAs make them perfect for these systems. Cloud-based solutions are another trend in the modular instrument driver market. Through cloud-based solutions, users can control and monitor their measurements from anywhere in the world, making them accessible at any time. Measurement systems are becoming more flexible and scalable as cloud technology is adopted more widely in many industries.
How do Modular Instrument Technology Contribute to North American Market?
Emerging Automation Sector Will Drive Demand for Modular Instruments
Modular instrument sales in North America are expected to reach US$ 1.6 billion by 2023. Growing demand from end-use sectors such as electrical and electronics and automotive is expected to drive revenue growth in the North American modular instrument market.
Using modular instruments, a wide range of measurements and tests can be performed by combining and configuring them in different ways. The inclination toward connected cars and intelligent transportation systems is also expected to drive the growth of the regional market. Many companies offer a range of products and solutions in the United States for modular instruments.
Why has the Asia Pacific Region seen Rapid Modular Instrument Growth?
Expanding Telecommunications Industries to Drive Market Share
According to the forecast, the Asia Pacific modular instrument market will grow at a revenue share of 24.6%. A large number of semiconductor and electronics manufacturing facilities in the region contribute to the growth of the modular instrument market. As wireless communication standards are becoming more prevalent in the Asia Pacific, these instruments are in high demand.
The Chinese market is expected to hold a value of US$ 355.3 million by the end of 2033. According to the forecast, the market will grow at a CAGR of 9.4% during the forecast period. India and China are becoming major satellite communications markets, owing to their rapid growth rates in the telecommunications sector.
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How will PXI Demand Grow in the Modular Instruments Market?
Increasing Popularity of Automated Testing to Grow Demand for PXI
PXI modular instrument demand is predicted to grow at a CAGR of 8.4% over the next few years. Availability, scalability, and cost-effectiveness make PXI (PCI extensions for Instrumentation) modular instruments highly desirable.
The PXI modular instruments offer easy configuration and reconfiguration by combining various modules such as digitizers, power supplies, signal generators, and a wide range of other instrumentation into one chassis. Multiple standalone instruments are therefore no longer required, resulting in greater flexibility and reduced costs for testing and measurement applications.
The flexibility of the PXI modular system makes them ideal for automated testing environments since they can be integrated with a variety of software tools and programming languages. In addition to providing high performance and reliability, these devices offer advanced features for synchronization and triggering, which allow for repeatable and accurate measurements.
Which Application is Likely to expand Sales for Modular Instruments?
Research and Development will show positive growth trends for modular instruments
According to the forecast, research, and development will lead the modular instrument market. According to the predictions, the market will grow at a CAGR of 8.3% during the forecast period.
A modular instrument approach to design validation and verification is making significant progress but is also being implemented at an early stage of the research and development process. Scalability, flexibility, and customizability are among the key factors behind this trend, which is only expected to intensify in the future.
Scalability and the ability to leverage research and development investment to bridge the R&D-to-production gap are contributing to the growth of modular instrumentation. Throughout the entire product lifecycle, research and development and production must be connected.
Modular instruments have the potential to dramatically reduce test times, which will likely lead to more adoption of modular instruments in research and development.
Modular instrument manufacturers are forming strategic partnerships with companies in the technology industry. The company aims to increase its market share by expanding its product range, increasing its technological capabilities, and expanding its market presence. These companies could develop innovative products by combining their strengths.
Several companies invest heavily in research and development to enhance the performance of their products. In addition to launching new products, companies also attempt to gain a competitive edge through the launch of new products.
| Attribute | Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
US$ billion for Value |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Customization & Pricing |
Available upon Request |
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According to estimates, the global modular instrument market was worth US$ 1.7 billion by 2022.
The modular instruments market is expected to generate US$ 1.8 billion in revenue in 2023.
Globally, the market for modular instruments is expected to reach US$ 4.2 billion by 2033.
The modular instrument market is expected to grow at a CAGR of 8.5% from 2023 to 2033.
According to a PMR, modular instrument sales grew 9.2% between 2018 and 2022.
Research & application will account for a significant revenue of 8.3% CAGR by 2033.
China's modular instrument is forecast to grow at a CAGR of 9.4% over the forecast period.
