Modular Test Equipment Market Size (2024 - 2029)

The Modular Test Equipment market is anticipated to experience significant growth, driven by the increasing prevalence of connected devices and a heightened focus on quality improvements and comprehensive testing solutions. This market expansion is supported by strategic investments from both national and international players, aiming to maintain competitiveness. The integration of advanced technology in modular instrumentation systems enhances measurement throughput, further contributing to the market's development.

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Market Size of Modular Test Equipment Industry

Modular Test Equipment Market Summary
Study Period 2022 - 2029
Base Year For Estimation 2023
CAGR 7.60 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Modular Test Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

Modular Test Equipment Market Analysis

The Modular Test Equipment market is expected to grow at a CAGR of 7.6% over a forecast period. The rising number of connected devices and increasing companies' attention towards quality improvements and end-to-end test solutions are expected to drive market growth over the studied period.

  • In modular instrumentation systems, GHz PC processors analyze the data and make measurements using the software. The result is measurements at 10 to 100 times the throughput of a test system built solely on traditional instruments, which use built-in vendor-defined firmware and application-specific processors.
  • The market for modular testing is witnessing various strategic investments made by national and international players to remain competitive. For instance, in October 2022, Omega Laboratories, a provider of laboratory testing solutions, acquired Acumium to enhance its ability to provide risk mitigation while providing more timely results for faster clinical, court, and employment decisions.
  • Further, in September 2022, inTEST Corporation, a supplier of innovative test and process solutions for manufacturing and testing, announced to feature companies of its solutions for electric vehicles, OEMs, EV battery manufacturers, and other battery technologies at the Battery Show North America.
  • The solution will ensure the quality of battery arrays with the Acculogic STINGRAY flying probe tester. A cost-effective automated test platform with accelerated performance offers an accurate, fast, and reliable test of battery array interconnections.
  • Additionally, in September 2022, Keysight Technologies announced its partnership with Credo Technology Group for its Layer 1-3 800GE network device and Ethernet protocol test solutions for network infrastructure. Keysight's colKeysight with Credo will provide the global networking industry with a comprehensive set of test and measurement capabilities that address the rapidly growing and diverse ecosystem of 800GE-capable components, network silicon devices, and networking equipment systems.

Modular Test Equipment Industry Segmentation

Module testing is software testing that checks individual subprograms, subroutines, classes, or procedures in a program. It allows to implementation of parallelism into the testing process by enabling the testing of multiple modules simultaneously.

The modular Test Equipment Market is segmented by Type (PCI extensions for Instrumentation (Mainframe/Chassis, Instrument Controller, Digital Input/Output, Digitizers/Oscilloscopes, Signal Generators, Signal Analyzers, Network Analyzers, Switches, Power Supplies, DC Sources/SMUs/PMUs), VME extensions for Instrumentation, Advanced TCA Extensions for Instrumentation and Test), End-user Industry (Communication, Aerospace, and Defense, Automotive and Transportation, Electronics), and Geography. The market sizes and forecasts regarding value (USD million) for all the above segments are provided. Further, the report covers the major vendors operating in the market and, The report also presents a comprehensive study of their strategies for the geographical segmentation of the market and the impact of COVID-19 on the market.

By Type
PCI Extensions for Instrumentation
Mainframe/Chassis
Instrument Controller
Digital Input/Output
Digitizers/oscilloscopes
Signal generators
Signal analyzers
Network analyzers
Switches
Power Supplies
DC Sources/SMUs/PMUs
VME Extensions for Instrumentation
Advanced TCA Extensions for Instrumentation and Test
Other Types(Power Meters and Logic Analyzers)
By End-user Industry
Communication
Aerospace and Defence
Automotive and Transportation
Consumer Electronics
Other End-user Industries
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Modular Test Equipment Market Size Summary

The Modular Test Equipment market is poised for significant growth, driven by the increasing number of connected devices and a heightened focus on quality improvements and comprehensive test solutions. This market is characterized by the use of advanced modular instrumentation systems that leverage GHz PC processors for data analysis and measurements, offering superior throughput compared to traditional instruments. Strategic investments and partnerships among key players, such as Omega Laboratories' acquisition of Acumium and Keysight Technologies' collaboration with Credo Technology Group, are enhancing the capabilities and reach of modular test equipment. These developments are particularly impactful in sectors like automotive and electronics, where rigorous testing is essential for verifying and validating complex designs.

The Asia Pacific region is a major contributor to the market's expansion, fueled by investments in industrial automation and technology advancements. Companies like Palomar Technologies and Advantest Corporation are actively expanding their operations and capabilities in this region, further driving demand for modular test equipment. The market is moderately consolidated, with major players such as Teradyne Inc, Advantest Corporation, and National Instruments employing strategies like mergers, acquisitions, and partnerships to strengthen their market position. As the market continues to evolve, it is expected to attract more participants, offering a broader range of opportunities for growth and innovation.

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Modular Test Equipment Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porters Five Force Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers/Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Assessment of Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 PCI Extensions for Instrumentation

        1. 2.1.1.1 Mainframe/Chassis

        2. 2.1.1.2 Instrument Controller

        3. 2.1.1.3 Digital Input/Output

        4. 2.1.1.4 Digitizers/oscilloscopes

        5. 2.1.1.5 Signal generators

        6. 2.1.1.6 Signal analyzers

        7. 2.1.1.7 Network analyzers

        8. 2.1.1.8 Switches

        9. 2.1.1.9 Power Supplies

        10. 2.1.1.10 DC Sources/SMUs/PMUs

      2. 2.1.2 VME Extensions for Instrumentation

      3. 2.1.3 Advanced TCA Extensions for Instrumentation and Test

      4. 2.1.4 Other Types(Power Meters and Logic Analyzers)

    2. 2.2 By End-user Industry

      1. 2.2.1 Communication

      2. 2.2.2 Aerospace and Defence

      3. 2.2.3 Automotive and Transportation

      4. 2.2.4 Consumer Electronics

      5. 2.2.5 Other End-user Industries

    3. 2.3 By Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East and Africa

Modular Test Equipment Market Size FAQs

The Modular Test Equipment Market is projected to register a CAGR of 7.60% during the forecast period (2024-2029)

Advantest Corporation, Teradyne, Inc., National Instruments, Chroma Ate and Cohu Inc. are the major companies operating in the Modular Test Equipment Market.

Modular Test Equipment Report Snapshots

Modular Test Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)