The growing need for cost-effective automated test equipment has resulted in the growth of the Global Modular Instrument Market, which is expected to post a CAGR of 12.45 percent from 2014-2019, says research firm TechNavio.

Many organizations are preferring modular instruments over traditional ones because of the operational advantages they offer.

About the Report

The latest report by TechNavio emphasizes an increased number of mergers and acquisitions in the Global Modular Instrument Market. Some of the leading vendors like National Instruments are acquiring other companies in order to increase their market share.

“National Instruments acquired Phase Matrix in May 2011, which helped National Instruments expand its test and measurement equipment product portfolio,” says Faisal Ghaus, Vice President of TechNavio.

Furthermore, there has been an increase in the penetration of PXI platform-based modular instruments in the military, defense and telecom industries. These new modular instruments can easily integrate the traditional measurement capabilities with automation, machine control and machine vision.

“The cost of PXI platform-based modular instruments is less as compared to VXI platform-based instruments, which has increased their adoption across industries,” says Ghaus.

Key Information Covered in the Report:

  • Market segmentation, size and forecast through 2019
  • Market Growth Drivers:
    • Increased Need for Cost-effective Automated Test Equipment
    • For a full detailed list, view our report.
  • Market Challenges:
    • Lack of Effective Product Differentiation
    • For a full detailed list, view our report.
  • Market Trends:
    • Increase in Number of M&A
    • For a full detailed list, view our report.
  • Key Vendors:
    • Aeroflex Inc.
    • Agilent Technologies Inc.
    • Astronics Corp.
    • National Instruments Corp.
  • Other Prominent Vendors:
    • Giga-tronics
    • Guzik Technical Enterprises
    • Phase Matrix
    • Rohde & Schwarz

TechNavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on the modular equipment market:

  • Modular Kitchen Market in India 2014-2018
  • Global Modular ADC Market 2012-2016

If you are interested in more information, please contact our media team at media@technavio.com.