- ResearchAndMarkets announces the publication of a market study on modular instrumentation covering the period 2017-2026.
- According to this study, the global market for modular instrumentation, estimated at $1.12 billion in 2017, is expected to grow at a compound annual rate of 11.9% to reach $3.08 billion by 2026.
Modular instruments are used in automated test and measurement systems for the design, validation, production and maintenance of a variety of electronic products.
PXI instrumentation captures a significant share of the market over the forecast period because it is based on an open standard that ensures the interoperability of modules and chassis from different suppliers.
The study points to several factors that are favourable to this market: the growth of the aerospace and defence sectors in developing economies, the deployment of mobile telecommunications technologies, and the increase in R&D spending in emerging countries.
The Asia-Pacific region is expected to grow most rapidly over the forecast period. Growth in this region will be driven in particular by increased investment in the aerospace industry, particularly in India and China, and by massive sales of mobile devices, which will drive demand for wireless communication test systems.