Source Measurement Unit Market Size, Share, Growth, And Industry Analysis By Type (Graphical Series SMU, Source Measure Units Modules (SMUs)) By Application (Semiconductor IC component, Power Component, Sensor, Organic Material and Nano Material, Others), Regional Forecast To 2032

Source Measurement Unit Market Report Overview

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The global source measurement unit market size was 900.6 million in 2024 and is projected to touch USD 1525 million by 2032, exhibiting a CAGR of 6.0% during the forecast period.

The term "source measure unit" (SMU) refers to a particular type of electronic equipment or device that is used to supply and measure the voltage and current needed by other electronic devices. They are voltage measurement tools and test equipment that is extremely accurate. Precision electronics and big semiconductor device applications are where they are most commonly used. Additionally, it is anticipated that manufacturers would progressively use automated vehicles, such as self-driving cars, during the course of the projection period. As leading market participants expand their expenditures in the form of facility expansions and new manufacturing facilities to enhance their automotive output over the projection period and beyond, it is also projected that the automotive sector will enjoy considerable growth. As an example, in January 2018, Toyota announced that it will invest $471 million to upgrade and expand its facilities at Valenciennes, France.

Increased investments are being made for booming electric vehicle production as a result of the governments of many different nations putting more emphasis on the production of electric and hybrid vehicles. This is expected to positively affect the growth of the source measure unit market for the automotive industry as electric vehicles are fitted with numerous sensors, which will accelerate market expansion in the near future.

COVID-19 Impact: COVID-19 affected the consumer demand and supply chain dynamics hence affected market growth

The COVID-19 pandemic has been unprecedented and staggering, with the Source Measurement Unit market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Nearly every business has been impacted by the unmatched worldwide public health emergency known as COVID-19, and the long-term impacts are expected to have an influence on industry growth throughout the course of the projection period. Our ongoing investigation builds upon our research strategy to ensure the inclusion of underlying COVID-19 problems and potential future directions. The paper provides information on COVID-19 taking into account changes in consumer demand and behavior, buying habits, supply chain rerouting, dynamics of contemporary market forces, and important government initiatives. Insights, analyses, projections, and predictions are provided in the revised report, which takes the market effect of COVID-19 into account.

Latest Trends

"Rising investments from major market players propel the market growth"

It is also projected that over the projection period, manufacturers would increasingly deploy self-driving automobiles and other forms of vehicle automation. Additionally, it is anticipated that the automotive industry will experience significant growth along with rising investments from major market players in the form of facility expansions and new manufacturing facilities to increase their automotive production during the forecast period and beyond. As an illustration, Toyota stated in January 2018 that it will invest $471 million to modernize and expand its facility close to Valenciennes, France.

Source Measurement Unit Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Graphical Series SMU, Source Measure Units Modules (SMUs). Graphical Series SMU is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Semiconductor IC component, Power Component, Sensor, Organic Material and Nano Material, Others. Semiconductor IC component will be the dominating segment.

Driving Factors

"Rising demand from the automotive and medical industries boost the market growth"

Rising demand from the automotive and medical industries may be a significant factor accelerating the market's growth. Additionally, the growing IOT market leverages precision SMUs for device testing, increasing use for testing semiconductors, active/passive components, and a variety of other devices and materials, rising adoption of source measure units due to their flexibility and integration in electronics, rising sales, and the adoption of hybrid vehicles are other significant factors. In addition, over the projection period given above, the growing demand for UAVs and systems and the growing development of affordable GPS anti-jamming solutions will further generate new prospects for the Source Measure Unit Market.

"Increasing need for precision source measure units for device testing will boost the market growth"

The telecommunications and consumer electronics industries' increasing need for precision source measure units for device testing is also predicted to drive market expansion prospects for vendors and manufacturers in the next years. During the projection period, it is predicted that the market for source measure units will have progressive development prospects due to the expansion of the manufacturing sector and expanding government efforts to support the expansion of consumer electronics production setups. For instance, the Trump administration in the United States has declared measures that are beneficial to the manufacturing sector, which has led to an increase in the overall industrial production year over year.

Restraining Factors

"Rising availability of alternatives and technical barriers limit the market growth"

Rising availability of alternatives and rising technical barriers to the market growth of precision source measure units are the most important factors among others that will restrain market expansion. During the forecast period mentioned above, the Source Measure Unit Market will also face challenges from rising adoption rates of rapidly changing technologies.

Source Measurement Unit Market Regional Insights

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"Asia Pacific is anticipated to be the leading region during forecast period"

The market for source measure units worldwide is divided into five regions based on geography: North America, South America, Europe, the Middle East, Africa, and Asia Pacific. Due to the region's established automotive and semiconductor industries, the Asia Pacific is anticipated to account for a sizeable portion of the market. In addition, increased defence spending in nations like China and India is expected to fuel market expansion in the area, as is the expanding use of source measure units in the healthcare sector.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP Source Measurement Unit COMPANIES

• Keysight (U.S.)
• Keithley (U.S.)
• Marvin Test Solutions (U.S.)
• Chroma ATE (Taiwan)
• Ossila (U.K.)
• Rohde & Schwarz (U.S.)
• Texas Instruments (U.S.)
• Lambda (U.S.)
• Acquitek (France)
• Kikusui (Japan)
• Yokogawa (Japan)
• HIOKI (Japan)
• VX Instruments (Germany)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.