According to the latest report by IMARC Group, titled “Modular Instruments Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global modular instruments market reached a strong growth in 2019. Modular instruments are devices, which are utilized for the configuration of automated test and measurement (T&M) equipment. They use the computer-user interface for connecting functional cards and accommodating input and output channels. A modular instrumentation system consists of chassis and power supply, which are shared across instrument modules. This system aids in reducing cost and size, and achieving faster output, greater flexibility and longevity.
Some of the key players being AMETEK, Inc. NYSE: (AME), Astronics Corporation NASDAQ: (ATRO), COBHAM/PAR VTG FPD 0.025 OTCMKTS: (CBHMF), Fortive Corporation, JDS Uniphase, Keysight Technologies, National Instruments, Pickering Interfaces, Premier Measurement Solution, Rohde & Schwarz, Scientech Technologies, Teledyne Lecroy, Teradyne, Viavi Solutions, Yokogawa Electric Co. Ltd. etc.
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As modular instruments are flexible, cost-effective and available in various sizes, they are employed in the telecommunication sector across the globe. Furthermore, they are utilized in photonics production, submicron and nano-precision technology, and mechanical and electrical engineering. This, coupled with the advancements in the Internet of Things (IoT) solutions and boosting sales of consumer electronics, is driving the global modular instruments market growth. Apart from this, extensive utilization of modular instruments, such as automatic test equipment, machine vision systems, network analyzers, spectrum analyzers and signal generators in the aerospace and defense industry worldwide, is creating a positive outlook for the market.
Market Breakup by Vertical:
- Aerospace and Defense
- Electronics and Semiconductor
Market Breakup by Platform Type:
Market Breakup by Application:
- Research and Development
- Manufacturing and Installation
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