Market Trends of Modular Test Equipment Industry
This section covers the major market trends shaping the Modular Test Equipment Market according to our research experts:
Automotive and Transportation to Hold a Significant Share
- The automotive industry has one of the most challenging electronic testing requirements, which demands reliable testing to verify and test controller designs. Modular test equipment provides high reliability and high operational predictability in testing.
- As the industry is increasing, vendors are launching innovations regularly to remain competitive. For instance, in February 2021, Keysight Technologies introduced a parallel board test system, the i7090, to test automotive products. The i7090 supports up to twenty cores with PXI-based in-circuit test capability.
- Further, in June 2022, the company announced its participation at the Automotive Testing Expo, an international expo for every aspect of automotive testing, development, and validation technologies. The company will demonstrate solutions that enable innovators to push the boundaries of engineering by quickly solving design, test, and validation challenges to create the best autonomous and electric vehicle experiences.
- Moreover, in February 2022, Pickering Interfaces, a supplier of modular signal switching and simulation solutions for use in electronic test and verification, announced the launch of single-slot 40/42-203 and 40/42-204 modules delivering high performance, providing switching to 200V and 0.8A with typical differential bandwidths of 1.6GHz and 700MHz respectively. The modules feature PXI or PXIe control interface enabling flexibility in chassis selection.
- The rising adoption of electric vehicles is further expected to drive market growth. As per International Energy Association, plug-in electric light vehicle (PEV) sales will likely reach around 6.7 million units by 2021.
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Asia-Pacific is Expected to Show a Significant Growth
- The Asia Pacific is one of the significant investors and adopters in the studied market owing to growing investment in industrial sectors and industrial automation technologies. The growing companies' attention to quality improvements and end-to-end test solutions further strengthens the market growth.
- The region is witnessing various developments by the vendors. For instance, in August 2022, Palomar Technologies expanded its innovation center in Singapore to meet the demand in Southeast Asia for process development and assembly and testing for advanced semiconductor new product introductions.
- Furthermore, in April 2022, Keysight Technologies announced its collaboration with Singapore's Quantum Engineering Program (QEP) to accelerate research, development, and education in quantum technologies. Such developments will further fuel the demand for modular test equipment.
- In June 2022, Advantest Corporation, a semiconductor test equipment supplier, announced the acquisition of CREA. The acquisition of CREA will expand the company's test and measurement solutions within the evolving semiconductor value chain to meet a broader range of customer needs.
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