Standard Bus Modular Instrumentation Market Size, Share, Growth, and Industry Analysis by Type (PXI/e Bus Modular Instrument, VXI Bus Modular Instrument, LXI Bus Modular Instrument, PCI/e Bus Modular Instrument, Serial Bus Modular Instrument and AXI/e Bus Modular Instrument) By Application (Communication, Consumer Electronics & Semiconductor, Automotive Electronics and Aerospace & Defence), Regional Forecast To 2031

Updated On: 08 April 2024

Standard Bus Modular Instrumentation Market REPORT OVERVIEW

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global standard bus modular instrumentation market size was USD 1491.7 million in 2021 and market is projected to touch 3531.4 Million by 2031, exhibiting a CAGR of 9% during the forecast period.

The standard bus modular instrumentation market refers to the market for modular electronic measurement and testing instruments that utilize a standardized bus architecture for communication between modules. These instruments are widely used in various industries, including aerospace, defense, telecommunications, and electronics manufacturing. The standard bus architecture allows for greater flexibility in configuring and expanding measurement and testing capabilities, as modules can be easily added or removed as needed. This also allows for easier integration with other test equipment and software.

The market for standard bus modular instrumentation is driven by the increasing demand for more efficient and accurate testing and measurement solutions, as well as the need for greater flexibility and scalability in testing systems. The market is also driven by the increasing complexity of electronic systems and the need for advanced measurement and testing capabilities to ensure product quality and reliability.

COVID-19 Impact: Reduction in Healthcare Budgets to Limit the Market Demands

The standard bus modular instrumentation market has been impacted by the COVID-19 pandemic. The pandemic has caused disruptions in the supply chain, reduced demand for non-essential products, and slowed down the overall growth of the market. The lockdowns and restrictions on international travel have made it difficult for manufacturers to procure raw materials and deliver finished products. As a result, there have been delays in product launches, which has further affected the standard bus modular instrumentation market growth.

LATEST TRENDS

"Demand for Environmentally Friendly Inlaying Machines to Augment the Market Growth"

Increasing adoption of SBMI in the aerospace and defense industry for testing and measurement of avionics systems, communication systems, and electronic warfare systems. Growing demand for standard bus modular instrumentation in the automotive industry for testing and measurement of electronic control units (ECUs), sensors, and other electronic components used in vehicles. Emergence of new technologies such as 5G, IoT, and AI, which require high-speed and accurate testing and measurement equipment, is expected to drive the growth of the standard bus modular instrumentation market. Increasing demand for modular and scalable standard bus modular instrumentation solutions that can be easily customized and upgraded to meet changing testing and measurement requirements.

Overall, the standard bus modular instrumentation market is expected to grow at a steady pace in the coming years, driven by the increasing demand for high-speed and accurate testing and measurement equipment in various industries.

Standard Bus Modular Instrumentation Market Segmentation

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• By Type Analysis

By type, market is segmented into PXI/e bus modular instrument, VXI bus modular instrument, LXI bus modular instrument, PCI/e bus modular instrument, serial bus modular instrument and AXI/e bus modular instrument. The PXI/e bus modular instrument type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into communication, consumer electronics & semiconductor, automotive electronics and aerospace & defence. The communication segment will lead the global share through 2031.

DRIVING FACTORS

"Growing Adoption of Modular Instrumentation to Push the Market"

With the rising complexity of modern electronic devices and systems, there is a growing need for automated testing solutions that can help streamline the testing process and improve efficiency. Standard bus modular instrumentation offers a flexible and scalable approach to automated testing, making it an attractive option for many organizations. Modular instrumentation is becoming increasingly popular in many industries, including aerospace, defense, automotive, and telecommunications, among others. This trend is being driven by the need for greater flexibility, scalability, and cost-effectiveness in test and measurement applications.

"Growing Demand for Cloud-Based Solutions and Wireless Connectivity to Boost the Market Growth"

Advances in technology, such as the development of high-speed data transfer protocols and the miniaturization of components, have made it possible to design more powerful and compact modular instruments. This has led to increased adoption of standard bus modular instrumentation across a wide range of applications. The trend towards wireless connectivity is also driving the standard bus modular instrumentation market. Many modern instruments now offer wireless connectivity options, which allow for greater flexibility and ease of use in testing and measurement applications. The adoption of cloud-based solutions is also driving the standard bus modular instrumentation market. Cloud-based solutions allow for greater accessibility and collaboration across different locations, making it easier for organizations to manage their test and measurement applications.

RESTRAINING FACTORS

"High Cost and Complexity to Slow the Market Growth "

The standard bus modular instrumentation systems require a significant investment upfront, which can be a significant deterrent for some customers. The complexity of the system can also be a challenge for some customers, especially those who do not have a lot of technical expertise.

The installation and configuration of the system may require specialized knowledge and training. The standard bus modular instrumentation systems are designed to work with specific types of instruments and devices. This can limit their compatibility with other types of equipment and limit the flexibility of the system. The rapid pace of technological advancements can make it difficult for companies to keep up with the latest developments in standard bus modular instrumentation technology. This can lead to obsolescence and the need to invest in newer systems.

Standard Bus Modular Instrumentation Market REGIONAL INSIGHTS

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"North American Market to Grow Exponentially with the Forecasted Period"

North America is a mature market for standard bus modular instrumentation, with a high level of adoption across various industries, including aerospace, defense, and automotive. The United States is the largest market in this region, with major players such as National Instruments, Keysight Technologies, and Teledyne Technologies operating in the region. These factors are responsible to fuel standard bus modular instrumentation market share in North America.

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 in 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 portfolio.

List of Market Players Profiled

• Keysight (U.S.)
• National Instruments (U.S.)
• Viavi Solutions (U.S.)
• Fortive Corporation (U.S.)
• Astronics Corporation (U.S.)
• Teledyne Lecroy (U.S.)
• Rohde & Schwarz (Germany)
• Ametek (VTI Instruments) (U.S.)
• Teradyne (U.S.)
• Pickering Interfaces (UK.)
• Giga-Tronics (U.S.)
• Chroma ATE (China)
• Bustec (UK.)
• Excalibur Systems (U.S.)
• North Atlantic Industries (U.S.)
• Ceyear (China)
• ADLINK (China)
• CETC (China)
• CASIC (Chins)
• ADVANTECH (China)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.