We use simulation models to produce our market estimates and forecasts. A distinct model is built specifically for every investigation. Data is supplied into the model and simultaneously analysed for pricing patterns, application development, market dynamics, and technology landscape. These parameters are compared, and time series analysis, regression, and correlation are used to quantify their impact across the predicted period. Market forecasting is carried out using a mix of technical analysis, industry experience, and domain knowledge in addition to economic instruments.

Technological market models are utilised for long-term forecasting, while econometric models are typically employed for short-term forecasting. These are grounded in a combination of corporate principles, regulatory frameworks, economic outlooks, and the state of technology. The best method for estimating markets is a bottom-up strategy that integrates data to provide global estimates and analyses important regional markets as distinct entities. This is essential to ensure fewer errors and a thorough understanding of the sector.

On many fronts, raw market data is gathered and compiled. To make sure that only verified and authenticated sources are taken into consideration, data is constantly vetted. Furthermore, data is extracted from numerous reports within our repository and several well-known commercial databases. Understanding the entire value chain is crucial for a thorough understanding of the market, and we gather information from buyers, distributors, and suppliers of raw materials to make this process easier.

Trade journals, technical symposia, and surveys are good sources for technical concerns and trends. Technical information is also obtained with an emphasis on white space and freedom of movement from an intellectual property standpoint. Additionally gathered are industry factors pertaining to pricing patterns, constraints, and drivers. This means that a variety of original data are included in the material that is produced, and this data is further cross-validated and certified with public sources.

Research Methodology:

After secondary research provided a fundamental understanding of the worldwide Modular Instruments Market scenario, extensive primary research was carried out. A number of primary interviews were carried out with industry experts from the supply and demand sides, including C- and D-level executives, product managers, and marketing and sales managers of major manufacturers, distributors, and channel partners from tier 1 and tier 2 companies offering Modular Instruments Market, as well as personnel from academia, research, and CROs. These interviews were conducted across five major regions: North America, Europe, Asia Pacific, and the Rest of the World (Latin America & the Middle East & Africa). Participants from the supply-side and demand-side participated in about 70% and 30% of the primary interviews, respectively. Through the use of questionnaires, emails, online surveys, in-person interviews, and phone interviews, this main data was gathered.

Modular Instruments Market based on Platform:

• PXI
• AXIe
• VXI

Modular Instruments Market based on End Use:

• Telecommunications
• Aerospace & Defense
• Automotive & Transportation
• Electronics & Semiconductor

Modular Instruments Market based on Geography:

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia Pacific (APAC)
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific (RoAPAC)
• Latin America (LATAM)
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa (MEA)
  • UAE
  • Turkey
  • Saudi Arabia
  • South Africa
  • Rest of Middle East & Africa

With a revenue share of 35.4% in 2019, the telecommunications category led the market in terms of revenue. Long-term evolution (LTE), LTE-A, and 4G are examples of wireless communication technology advancements that have supported the segment’s growth. Moreover, the development of 5G communications is predicted to follow the improved capabilities of LTE advanced standards. Therefore, it is expected that the telecommunications segment would have significant growth over the forecast period due to the 5G evolution.

Throughout the course of the projection period, aerospace and defence is anticipated to grow at a CAGR of roughly 4.0%. Because complicated communication equipment is used in the aerospace and defence industries, modular instruments are essential. Modular instruments are utilised in the aerospace and defence industries for various applications such as network analyzers, machine vision systems, automatic test equipment, and signal generators. In order to ensure the security and safety of the end-use equipment, these instruments are used to verify a variety of sub-systems, components, and systems for communications, tracking, and detection. Furthermore, the aerospace and defence industries have adopted modular instruments primarily because of their advantages, which include faster end-use equipment measurement and lower power consumption.

With a revenue share of 78.4% in 2019, the PXI sector led the market in terms of revenue. The PXI platform has a number of benefits, including lower prices, more widely used software models, and enhanced performance. As such, many end users have embraced the PXI platform due to its benefits. Furthermore, PXI platforms let users combine conventional measurement features like automation, motion control, and machine vision with contemporary computer-based modular design.

Over the course of the projection period, the AXIe segment is anticipated to grow at a CAGR above 6.5%. Timing, triggering, and module-to-module data transfer are essential components of high-performance modular instrument systems, and they are all provided by the AXIe. Furthermore, AXIe has PCIe and LAN interfaces that can function as virtual PXI instruments. Over the course of the forecast period, the platform’s flexibility and the previously mentioned advantages are anticipated to propel the segment’s expansion.

With more than 35.0% of the revenue share in 2019, Asia Pacific led the industry as a whole. Throughout the projected time, the regional market is probably going to continue to dominate. It is anticipated that rising investments in the aerospace and defence sector from nations like China and India will support market expansion. For example, Chinese aviation corporations purchased Western aviation companies in 2018 for approximately $400 million USD. In addition, as the number of mobile devices in the area increases, so does the need for wireless test equipment, which supports regional growth.

Significant growth is anticipated in North America, with a CAGR of almost 5.0% from 2020 to 2030. Over the course of the forecast period, the North American modular instrument market is likely to increase in terms of revenue due to the growing demand for modular instruments from a variety of end-use industries, including automotive and electrical and electronics. Additionally, the trend towards connected automobiles and intelligent transportation systems is anticipated to fuel regional market expansion.

• This report illustrates the most vital attributes of the Modular Instruments Market, which are driving and providing opportunities.
• This research gives an in-depth analysis of the Modular Instruments Market growth on the basis of several segments in the market.
• This report presents the predictions of the past and present trends of the Modular Instruments Market.
• This study also presents the competitive analysis, such as key strategies and capabilities of major players of the Modular Instruments Market.