Modular Test Equipment Market is expected to grow at a CAGR of 8.01%

Increasing Demand for Electronics and Communication Devices and Rapid Technological Advancements are factors driving the Global Modular Test Equipment Market in the forecast period 2025-2029.

According to TechSci Research report, “Modular Test Equipment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029”, the Global Modular Test Equipment Market is poised for robust growth in the forecast period, driven by several key factors. The proliferation of connected devices and heightened focus on quality enhancement and comprehensive test solutions by businesses are anticipated to be primary growth drivers.

Modular instrumentation systems, powered by GHz PC processors and software, enable data analysis and measurements with significantly higher throughput compared to traditional test systems. This technological advancement results in measurements that are 10 to 100 times faster, enhancing efficiency and productivity in testing processes. The market for modular testing is witnessing strategic investments from both national and international players, aimed at maintaining competitiveness and meeting evolving customer demands. For example, in October 2022, Omega Laboratories, a leading provider of laboratory testing solutions, acquired Acumium to bolster its risk mitigation capabilities and expedite result delivery for clinical, legal, and employment decision-making processes.

Moreover, in September 2022, inTEST Corporation announced its participation in the Battery Show North America, showcasing solutions tailored for electric vehicle manufacturers, OEMs, and EV battery manufacturers. Among these solutions is the Acculogic STINGRAY flying probe tester, designed to ensure the quality of battery array interconnections. This cost-effective automated test platform offers accelerated performance, delivering accurate, rapid, and reliable testing of battery array interconnections. These developments underscore the dynamic nature of the modular test equipment market and the strategic initiatives undertaken by industry players to address emerging challenges and capitalize on opportunities. Businesses operating in this sector must prioritize innovation and adaptability to stay ahead in a competitive landscape driven by technological advancements and evolving customer needs.

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Based on end user industry, The automotive & transportation segment emerged as the dominating segment in 2023. 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.

Based on Region, Asia Pacific is poised to assert its dominance in the market, driven by substantial investments and adoption rates in key industrial sectors and automation technologies. Companies across the region are increasingly focusing on enhancing quality standards and implementing comprehensive end-to-end test solutions, further propelling market growth. The Asia Pacific region is witnessing notable developments from vendors, indicative of its thriving market environment. For example, in August 2022, Palomar Technologies demonstrated its commitment to meeting Southeast Asia's demand for advanced semiconductor process development and assembly testing by expanding its innovation center in Singapore. Moreover, in April 2022, Keysight Technologies announced a strategic collaboration with Singapore's Quantum Engineering Program (QEP), aimed at accelerating research, development, and education in quantum technologies. These collaborative efforts are expected to drive demand for modular test equipment in the region. Additionally, Advantest Corporation made significant strides in June 2022 by acquiring CREA, a move intended to bolster its test and measurement solutions portfolio within the semiconductor value chain. This acquisition aligns with Advantest's strategy to address a broader spectrum of customer needs in the evolving semiconductor landscape.

These developments underscore the dynamic nature of the Asia Pacific market and its pivotal role in shaping the future of industries reliant on advanced technologies. Businesses operating in this region must stay abreast of market trends and technological advancements to capitalize on emerging opportunities and maintain competitiveness. As Asia Pacific continues to lead in innovation and industrial transformation, strategic partnerships and investments in cutting-edge solutions will be key drivers of success in the region's thriving market landscape.

Key market players in the Global Modular Test Equipment Market are: -

• Advantest Corporation
• Teradyne, Inc.
• National Instruments
• Chroma Ate
• Cohu Inc.
• Astronics Corporation
• Star Technologies
• Roos Instruments
• Marvin Test Solutions
• Omron Corporation

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“The global modular test equipment market is driven by the increasing demand for electronic devices, rapid technological advancements, and the growing complexity of product designs. As consumers seek high-performance devices, modular test equipment offers adaptability and scalability to meet evolving testing requirements. The expansion of 5G networks, IoT proliferation, and a focus on energy efficiency contribute to the market's growth. Cost-efficiency remains pivotal, as modular solutions allow for the reuse of components, aiding manufacturers in a competitive landscape. The need for faster time-to-market, compliance with industry standards, and the trend of outsourcing manufacturing further propel the adoption of modular test equipment across diverse industries.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Modular Test Equipment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Type (PCI extensions for Instrumentation, VME extensions for Instrumentation, Advanced TCA Extensions for Instrumentation & Test, Others), End-user Industry (Communication, Aerospace and Defense, Automotive and Transportation, Electronics), By Region, and By Competition 2019-2029” provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Modular Test Equipment Market.

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