Global Modular Test Equipment Growth Opportunities

Revenue Forecast

The revenue estimate for the base year 2023 is 1,283.2 million, with a CAGR of 8.8% for the study period from 2020 to 2030.

The Impact of the Top 3 Strategic Imperatives on the Global Modular Test Equipment Industry

Disruptive Technologies

Why

• Modular test equipment, or modular test instruments, will witness significant growth in demand across different industries due to technological advancements leading to product development.
• The automotive & transportation, aerospace & defense, and communications industries, in particular, will have a high requirement for modular equipment to test their devices.

Frost Perspective

• Manufacturers should design scalable chassis that can accommodate different module capacities to improve performance.
• With scalable chassis and controller options, modular systems will provide the flexibility required along with high-performance systems.

Transformative Megatrends

Why

• Environmental concerns are resulting in increasingly stricter regulations to control emissions. This is driving the growth of electric vehicles (EVs), and especially battery EVs (BEVs).
• Modular test equipment will be in demand for different EV applications, including power electronics, motor testing, communication, and more.

Frost Perspective

• Modular test equipment manufacturers should develop solutions that are tailored to meet the specific needs of EVs. Off-the-shelf testing products will not be able to meet the unique needs of EV testing.
• Manufacturers need to develop a strong understanding of the technology and focus on continuous innovation to be able to address the needs of the fast-evolving EV space.

Geopolitical Chaos

Why

• The social and economic impact of the pandemic is still being felt in industries across the globe. Newer variants of the virus and measures to contain their spread may affect supply chains, including that of modular testing equipment.

Frost Perspective

• COVID-19 led to several countries closing their borders, and trade was affected due to manufacturing disruptions.
• The speed of recovery across countries and regions has varied, and the situation is changing.

Segmentation

Modular Test Equipment

PXI

PXI is the most popular modular test equipment that uses modules with custom software for measurement and automation applications. Its product segments include:

• Mainframe/chassis
• Instrument controllers
• Digital I/O
• Digitizers/oscilloscopes
• Signal generators
• Signal analyzers
• Network analyzers
• Digital multimeters
• Switches
• Power supplies
• Direct current (DC) sources/source measure units (SMUs)/phaser measurement units (PMUs)
• Other modules—power meters and logic analyzers

VXI

VXI is based on the Versa Module Europa (VME) standard, wherein modules are inserted into card pages. VXI consists of a mainframe and plug-in modules.

PXI systems use PCI for communication between modules, whereas a VXI system uses a VME bus for communication.

AXIe

Developed in 2009, AXIe is a modular test instrumentation with a focus on fifth-generation (5G) communications.

In 2017, the industry introduced a new specification—the optical data interface for high-speed instrumentation systems. The AXIe standard is introduced to address the high performance and bandwidth requirements of test and measurement applications.

Key Competitors

• NI
• Keysight Technologies
• Pickering Interfaces Ltd.
• Marvin Test Solutions Inc.
• Teradyne Inc.
• AMETEK Programmable Power Inc.
• Bustech Inc.
• Astronics Corporation
• Chroma ATE Inc.
• VX Instruments GmbH
• ADLINK Technology Inc.
• Giga-tronics Incorporated
• Guzik Technical Enterprises
• VIAVI Solutions Inc.