According to Stratistics MRC, the Global Modular Instruments Market is accounted for $1.79 billion in 2020 and is expected to reach $4.21 billion by 2028 growing at a CAGR of 11.3% during the forecast period. The growing aerospace and defense sector in developing economies, rising demand for deployment of LTE from the telecommunications sector, and improved R&D spending in emerging countries are the major factors propelling the market growth. However, the growing penetration of rental and leasing services is hampering the market growth.
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By geography, the Asia Pacific is estimated to have a lucrative growth during the forecast period. The increase in investments in the aerospace industry by countries such as India and China that will add to the growth in the region and the massive volume sales of mobile devices that result in the demand for wireless test equipment will bolster the market’s growth prospects in this region.
Some of the key players profiled in the Modular Instruments Market include Anritsu, Aplab, Cobham, EXFO, Fastech Telecommunications, Ixia, JDS Uniphase, Keysight Technologies, National Instruments, Premier Measurement Solution, Qmax Test Equipment, Rohde & Schwarz, Scientech Technologies, SPX, TEKTRONIX, and Yokogawa Electric.
Platform Types Covered:
• PCI eXtensions for Instrumentation (PXI)
• AdvancedTCA Extensions for Instrumentation and Test (AXIe)
• VME eXtensions for Instrumentation (VXI)
Applications Covered:
• Research and Development (R&D)
• Manufacturing and Installation
End Users Covered:
• Aerospace & Defense
• Automotive & Transportation
• Electronics & Semiconductor
• Telecommunications
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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