According to TechSci Research report, “Modular Test Equipment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029”, The Global Modular Test Equipment Market is poised for robust growth in the forecast period, driven by several key factors. The proliferation of connected devices and a heightened focus on quality enhancement and comprehensive test solutions are expected to fuel significant expansion.
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Modular instrumentation systems, equipped with GHz PC processors and advanced software, enable faster data analysis and measurements compared to traditional test systems. This technological leap results in measurements that are 10 to 100 times quicker, thereby boosting efficiency and productivity in testing processes. The market for modular testing is experiencing strategic investments from both domestic and international players, aimed at staying competitive and meeting evolving customer expectations. Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Modular Test Equipment Market.” For instance, in October 2022, Omega Laboratories, a leading provider of laboratory testing solutions, acquired Acumium to strengthen its capabilities in risk mitigation and expedite result delivery for clinical, legal, and employment decision-making processes. In a similar vein, inTEST Corporation announced its participation in the Battery Show North America in September 2022, highlighting solutions tailored for electric vehicle manufacturers, OEMs, and EV battery manufacturers. Among these solutions is the Acculogic STINGRAY flying probe tester, designed to ensure the quality of battery array interconnections through a cost-effective automated test platform that delivers rapid, accurate, and reliable results. These developments underscore the dynamic nature of the modular test equipment market and the proactive steps taken by industry leaders to tackle emerging challenges and capitalize on opportunities. Companies operating in this sector must prioritize innovation and adaptability to maintain a competitive edge in a landscape driven by technological advancements and evolving customer demands. In 2023, the automotive & transportation sector emerged as the dominant segment. This industry faces rigorous electronic testing requirements, necessitating reliable testing solutions to verify and test controller designs. Modular test equipment offers high reliability and operational predictability, crucial for meeting these demands. The automotive sector's growth is driving continuous innovation among vendors to maintain competitiveness. For example, Keysight Technologies launched the i7090 parallel board test system in February 2021, capable of supporting up to twenty cores with PXI-based in-circuit test capabilities. Additionally, the company participated in the Automotive Testing Expo in June 2022, showcasing solutions that address design, test, and validation challenges to enhance autonomous and electric vehicle development. In February 2022, Pickering Interfaces introduced the 40/42-203 and 40/42-204 modules, featuring high-performance switching capabilities up to 200V and 0.8A with PXI or PXIe control interfaces. These modules offer flexibility in chassis selection, catering to the increasing adoption of electric vehicles, projected to drive market growth as per the International Energy Agency's forecasts of reaching 6.7 million plug-in electric light vehicle sales by 2021. Regionally, Asia Pacific is poised to lead the market, fueled by significant investments and adoption rates across key industrial sectors and automation technologies. Companies in the region are intensifying efforts to enhance quality standards and deploy comprehensive end-to-end test solutions, bolstering market expansion. Noteworthy developments include Palomar Technologies' expansion of its innovation center in Singapore in August 2022, aimed at meeting Southeast Asia's semiconductor process development and assembly testing demands. Furthermore, Keysight Technologies' collaboration with Singapore's Quantum Engineering Program (QEP) in April 2022 aims to accelerate research and development in quantum technologies. Advantest Corporation's acquisition of CREA in June 2022 strengthens its semiconductor test and measurement solutions, aligning with strategies to address evolving customer needs in the semiconductor industry. These initiatives highlight Asia Pacific's dynamic market environment and pivotal role in shaping industries reliant on advanced technologies. Businesses operating in this region must stay attuned to market trends and technological advancements to capitalize on emerging opportunities and maintain competitiveness. As Asia Pacific continues to lead in innovation and industrial transformation, strategic partnerships and investments in cutting-edge solutions will be essential drivers of success in this thriving market landscape.Key market players in the Global Modular Test Equipment Market are: -
- Advantest Corporation
- Teradyne, Inc.
- National Instruments
- Chroma Ate
- Cohu Inc.
- Astronics Corporation
- Star Technologies
- Roos Instruments
- Marvin Test Solutions
- Omron Corporation
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“The global modular test equipment market is driven by the increasing demand for electronic devices, rapid technological advancements, and the growing complexity of product designs. As consumers seek high-performance devices, modular test equipment offers adaptability and scalability to meet evolving testing requirements. The expansion of 5G networks, IoT proliferation, and a focus on energy efficiency contribute to the market's growth. Cost-efficiency remains pivotal, as modular solutions allow for the reuse of components, aiding manufacturers in a competitive landscape. The need for faster time-to-market, compliance with industry standards, and the trend of outsourcing manufacturing further propel the adoption of modular test equipment across diverse industries.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Modular Test Equipment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Type (PCI extensions for Instrumentation, VME extensions for Instrumentation, Advanced TCA Extensions for Instrumentation & Test, Others), End-user Industry (Communication, Aerospace and Defense, Automotive and Transportation, Electronics), By Region, and By Competition 2019-2029” provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Modular Test Equipment Market.
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