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Modular Instruments Market by Platform Type (PXI, AXIe, VXI), Application (R&D, Manufacturing & Installation), Vertical (Telecommunications, Aerospace & Defense, Automotive, Electronics & Semiconductor), and Geography - Global Forecast to 2023

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Date: 03-Sep-2018
No. of pages: 144
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“The modular instruments market is expected to grow at a CAGR of 9.6% from 2018 to 2023.”

The modular instruments market is expected to grow from USD 1.33 billion in 2018 to USD 2.11 billion by 2023, at a CAGR of 9.6% between 2018 and 2023.  The growth of the modular instruments market is driven by increased R&D spending; benefits such as low cost, modularity, compact size, increased throughput, flexibility, and extended lifetime offered by modular instruments. Increased demand for the deployment of LTE from the telecommunications sector is boosting the adoption of modular instruments. One of the major challenges faced by players in the market is the dominance of a few large companies, which truncates growth potential for smaller vendors. Increased penetration of rental and leasing services is a major restraining factor for the market.

“PXI-based modular instruments to have major share in the market during forecast period .”

PXI is an open, multi-vendor standard governed by the PXI systems alliance that ensures interoperability of modules and chassis from different vendors. This platform is based on PCI, and hence, it inherently brings the advantages of reduced cost, improved performance, and a mainstream software model to end users. The need for a modern computer-based modular architecture that can integrate traditional measurement capabilities with machine vision, motion control, and automation has resulted in the quick adoption of PXI as an industry standard. Companies that provide PXI-based modular instruments are National Instruments, Key sight Technologies, Teradyne, Rohde&Schwarz, Viavi Solutions, Fortive, and Teledyne Lecroy.

“The market for telecommunications vertical is expected to grow at the highest CAGR amongst all verticals during the forecast period.”

The modular instruments market for telecommunications vertical is expected to register the highest CAGR during the forecast period. Given the growth of and demand for telecommunications, it is exigent that the underlying infrastructure is rejigged to handle increased load and buttress newer technologies such as LTE, LTE-A, 4G, and 5G. Widespread demand for wireless technologies is currently driving the market for the telecommunications sector. The market is expected to grow substantially during the forecast period with the increasing subscriber base for different advanced technologies, such as WiMax, 3G, 4G, LTE, LTE-A, and 5G. Some of the leading vendors providing modular instruments for RF and wireless testing applications are National Instruments, Keysight Technologies, Teradyne, Rohde & Schwarz, and Fortive among others.

“North America to hold the largest share of the modular instruments market during the forecast period .”

North America is expected to account for largest share of the modular instruments market during the forecast period. North America commands the biggest share owing to demands from telecommunications and aerospace & defense sectors. Furthermore, the shift toward connected cars and intelligent transportation systems along with an increasing demand from the electronics & semiconductor sector is expected to drive the modular instruments market in the region.

In the process of determining and verifying the market size for several segments and subsegments, extensive primary interviews have been conducted with key experts. Following is the breakup of the profile of primary participants:


  • By Company Type: Tier 1= 20%, Tier 2= 25%,and Tier 3= 55%

  • By Designation: C-Level Executives= 30%, Directors= 45%, and Others= 25%

  • By Region: North America= 40%, Europe= 35%, APAC= 20%, and RoW=5%


This report provides valuable insights on the ecosystem of the modular instruments market. Keysight Technologies (US), National Instruments (US), Fortive Corporation (US), Viavi Solutions (US), Astronics Corporation (US), Teledyne Technologies (US) (Teledyne Lecroy (Germany)), Rohde & Schwarz (Germany), Ametek (VTI Instruments) (US), Teradyne (US), and Pickering Interfaces (UK) are some of the leading players in the modular instruments market.

Some of the other prominent players in the market include Giga-tronics (US), Elma Electronic (Switzerland), Asis Pro (Israel), Guzik technical Enterprises (US), Test Evolution Corporation (US), Adlink Technology (Taiwan), Chroma ATE (Taiwan), GOEPEL Electronic (Germany), Marvin Test Solutions (US), and Bustec (UK).

Research Coverage:

The report estimates the market size and future growth potential of the modular instrumentsmarket across different segments such as platform type, application, vertical,and geographies. The report also includes market trends and dynamics and competitive analyses of the key players in the market, along with their company profiles and recent developments.

Key Benefits of Buying the Report:

The report will help players/new entrants in this market in the following ways:


  • This report segments the modular instruments market comprehensively and provides the closest market sizes for platform types across different verticals and geographies; applications across different geographies; and verticals across different geographies.

  • The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

  • This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem and major developments such as product launches and developments, mergers and acquisitions, partnerships, agreements, collaborations, and recent developments in the modular instruments market.

Modular Instruments Market by Platform Type (PXI, AXIe, VXI), Application (R&D, Manufacturing & Installation), Vertical (Telecommunications, Aerospace & Defense, Automotive, Electronics & Semiconductor), and Geography - Global Forecast to 2023

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Segmentation
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis (Demand Side)
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing Market Size By Top-Down Analysis (Supply Side)
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities for Modular Instruments Market’s Growth
4.2 Modular Instruments Market, By Platform Type, 2017–2023
4.3 Modular Instruments Market, By Platform and Geography, 2017
4.4 Modular Instruments Market, By Geography, 2017 vs 2023

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Advantages of Modular Instruments—Low Cost, Modularity and Smaller Size, Increased Throughput, Flexibility, and Extended Lifetime
5.1.1.2 Increased R&D Spending
5.1.1.3 Increased Demand for Deployment of Lte From Telecommunications Sector
5.1.1.4 Increasing Demand From Aerospace & Defense Sectors
5.1.2 Restraints
5.1.2.1 Increased Penetration of Rental and Leasing Services
5.1.3 Opportunities
5.1.3.1 Applications in 5G R&D and Infrastructure
5.1.3.2 Growth of IoT and Rapid Adoption of IoT Devices
5.1.4 Challenges
5.1.4.1 Dominance of Few Companies Truncating Growth Potential for Smaller Vendors
5.2 Value Chain Analysis
5.2.1 R&D
5.2.2 Manufacturing and Assembly
5.2.3 Distribution and End Users
5.2.4 Post-Sale Services

6 Modular Instruments Market, By Platform Type
6.1 Introduction
6.2 PXI
6.3 AXIE
6.4 VXI

7 Modular Instruments Market, By Application
7.1 Introduction
7.2 Research & Development
7.3 Manufacturing & Installation

8 Modular Instruments Market, By Vertical
8.1 Introduction
8.2 Telecommunications
8.3 Electronics & Semiconductor
8.4 Aerospace & Defense
8.5 Automotive & Transportation
8.6 Others

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 France
9.3.3 UK
9.3.4 Rest of Europe
9.4 APAC
9.4.1 China & Taiwan
9.4.2 Japan
9.4.3 South Korea
9.4.4 Rest of APAC
9.5 RoW
9.5.1 Middle East
9.5.2 Africa & South America

10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis
10.3 Competitive Situations and Trends
10.3.1 Product Development and Launches
10.3.2 Collaborations & Partnerships
10.3.3 Expansions
10.3.4 Acquisitions

11 Company Profiles
11.1 Introduction
(Business Overview, Products & Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
11.2 Key Players
11.2.1 Keysight Technologies
11.2.2 National Instruments
11.2.3 Viavi Solutions
11.2.4 Fortive Corporation
11.2.5 Astronics Corporation
11.2.6 Teledyne Lecroy
11.2.7 Rohde & Schwarz
11.2.8 Ametek (VTI Instruments)
11.2.9 Teradyne
11.2.10 Pickering Interfaces
11.3 Other Important Players
11.3.1 Giga-Tronics
11.3.2 ELMA Electronic
11.3.3 Asis Pro
11.3.4 Guzik Technical Enterprises
11.3.5 Test Evolution Corporation
11.3.6 Adlink Technology
11.3.7 Chroma ATE
11.3.8 Goepel Electronic
11.3.9 Marvin Test Solutions
11.3.10 Bustec

*Details on Business Overview, Products & Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.3 Available Customization
12.4 Related Reports
12.5 Author Details

List of Tables

Table 1 Modular Instruments Market, By Platform Type, 2015–2023 (USD Million)
Table 2 PXI-Based Modular Instruments Market, By Region, 2015–2023 (USD Million)
Table 3 PXI-Based Modular Instruments Market, By Vertical, 2015–2023 (USD Million)
Table 4 AXIE-Based Modular Instruments Market, By Region, 2015–2023 (USD Million)
Table 5 AXIE-Based Modular Instruments Market, By Vertical, 2015–2023 (USD Million)
Table 6 VXI-Based Modular Instruments Market, By Region, 2015–2023 (USD Million)
Table 7 VXI-Based Modular Instruments Market, By Vertical, 2015–2023 (USD Million)
Table 8 Modular Instruments Market, By Application, 2015–2023 (USD Million)
Table 9 Modular Instruments Market for R&D Applications, By Region, 2015–2023 (USD Million)
Table 10 Modular Instruments Market for Manufacturing & Installation Applications, By Region, 2015–2023 (USD Million)
Table 11 Modular Instruments Market, By Vertical, 2015–2023 (USD Million)
Table 12 Modular Instruments Market for Telecommunications, By Platform Type, 2015–2023 (USD Million)
Table 13 Market for PXI-Based Modular Instruments for Telecommunications, By Geography, 2015–2023 (USD Million)
Table 14 Market for AXIE-Based Modular Instruments for Telecommunications, By Geography, 2015–2023 (USD Million)
Table 15 Market for VXI-Based Modular Instruments for Telecommunications, By Geography, 2015–2023 (USD Million)
Table 16 Modular Instruments Market for Telecommunications, By Geography, 2015–2023 (USD Million)
Table 17 Modular Instruments Market for Electronics & Semiconductor, By Platform Type, 2015–2023 (USD Million)
Table 18 Market for PXI-Based Modular Instruments for Electronics & Semiconductor, By Geography, 2015–2023 (USD Million)
Table 19 Market for AXIE-Based Modular Instruments for Electronics & Semiconductor, By Geography, 2015–2023 (USD Million)
Table 20 Market for VXI-Based Modular Instruments for Electronics & Semiconductor, By Geography, 2015–2023 (USD Million)
Table 21 Modular Instruments Market for Electronics & Semiconductor, By Geography, 2015–2023 (USD Million)
Table 22 Modular Instruments Market for Aerospace & Defense, By Platform Type, 2015–2023 (USD Million)
Table 23 Market for PXI-Based Modular Instruments for Aerospace & Defense, By Geography, 2015–2023 (USD Million)
Table 24 Market for AXIE-Based Modular Instruments for Aerospace & Defense, By Geography, 2015–2023 (USD Million)
Table 25 Market for VXI-Based Modular Instruments for Aerospace & Defense, By Geography, 2015–2023 (USD Million)
Table 26 Modular Instruments Market for Aerospace & Defense, By Geography, 2015–2023 (USD Million)
Table 27 Modular Instruments Market for Automotive & Transportation, By Platform Type, 2015–2023 (USD Million)
Table 28 Market for PXI-Based Modular Instruments for Automotive & Transportation, By Geography, 2015–2023 (USD Million)
Table 29 Market for AXIE-Based Modular Instruments for Automotive & Transportation, By Geography, 2015–2023 (USD Million)
Table 30 Market for VXI-Based Modular Instruments for Automotive & Transportation, By Geography, 2015–2023 (USD Million)
Table 31 Modular Instruments Market for Automotive & Transportation, By Geography, 2015–2023 (USD Million)
Table 32 Modular Instruments Market for Other Verticals, By Platform Type, 2015–2023 (USD Million)
Table 33 Market for PXI-Based Modular Instruments for Other Verticals, By Geography, 2015–2023 (USD Million)
Table 34 Market for AXIE-Based Modular Instruments for Other Verticals, By Geography, 2015–2023 (USD Million)
Table 35 Market for VXI-Based Modular Instruments for Other Verticals, By Geography, 2015–2023 (USD Million)
Table 36 Modular Instruments Market for Other Verticals, By Geography, 2015–2023 (USD Million)
Table 37 Modular Instruments Market, By Region, 2015–2023 (USD Million)
Table 38 Modular Instruments Market in North America, By Platform Type, 2015–2023 (USD Million)
Table 39 Modular Instruments Market in North America, By Vertical, 2015–2023 (USD Million)
Table 40 PXI-Based Modular Instruments Market in North America, By Vertical, 2015–2023 (USD Million)
Table 41 AXIE-Based Modular Instruments Market in North America, By Vertical, 2015–2023 (USD Million)
Table 42 VXI-Based Modular Instruments Market in North America, By Vertical, 2015–2023 (USD Million)
Table 43 Modular Instruments Market in North America, By Country, 2015–2023 (USD Million)
Table 44 PXI-Based Modular Instruments Market in Us, By Vertical, 2015–2023 (USD Million)
Table 45 Modular Instruments Market in Europe, By Platform Type, 2015–2023 (USD Million)
Table 46 Modular Instruments Market in Europe, By Vertical, 2015–2023 (USD Million)
Table 47 PXI-Based Modular Instruments Market in Europe, By Vertical, 2015–2023 (USD Million)
Table 48 AXIE-Based Modular Instruments Market in Europe, By Vertical, 2015–2023 (USD Million)
Table 49 VXI-Based Modular Instruments Market in Europe, By Vertical, 2015–2023 (USD Million)
Table 50 Modular Instruments Market in Europe, By Country, 2015–2023 (USD Million)
Table 51 PXI-Based Modular Instruments Market in Germany, By Vertical, 2015–2023 (USD Million)
Table 52 Modular Instruments Market in APAC, By Platform Type, 2015–2023 (USD Million)
Table 53 Modular Instruments Market in APAC, By Vertical, 2015–2023 (USD Million)
Table 54 PXI-Based Modular Instruments Market in APAC, By Vertical, 2015–2023 (USD Million)
Table 55 AXIE-Based Modular Instruments Market in APAC, By Vertical, 2015–2023 (USD Million)
Table 56 VXI-Based Modular Instruments Market in APAC, By Vertical, 2015–2023 (USD Million)
Table 57 Modular Instruments Market in APAC, By Country, 2015–2023 (USD Million)
Table 58 PXI-Based Modular Instruments Market in China & Taiwan, By Vertical, 2015–2023 (USD Million)
Table 59 PXI-Based Modular Instruments Market in Japan, By Vertical, 2015–2023 (USD Million)
Table 60 Modular Instruments Market in RoW, By Platform Type, 2015–2023 (USD Million)
Table 61 Modular Instruments Market in RoW, By Vertical, 2015–2023 (USD Million)
Table 62 PXI-Based Modular Instruments Market in RoW, By Vertical, 2015–2023 (USD Million)
Table 63 AXIE-Based Modular Instruments Market in RoW, By Vertical, 2015–2023 (USD Million)
Table 64 VXI-Based Modular Instruments Market in RoW, By Vertical, 2015–2023 (USD Million)
Table 65 Modular Instruments Market in RoW, By Region, 2015–2023 (USD Million)
Table 66 Key Player Market Ranking, 2017

List of Figures

Figure 1 Market Segmentation
Figure 2 Modular Instruments Market: Process Flow of Market Size Estimation
Figure 3 Modular Instruments Market: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions for Research Study
Figure 8 Modular Instruments Market, 2015–2023 (USD Billion)
Figure 9 Modular Instruments Market, By Platform Type, 2015–2023 (USD Million)
Figure 10 Modular Instruments Market, By Application, 2018 vs 2023 (USD Million)
Figure 11 Modular Instruments Market, By Vertical, 2015–2023 (USD Million)
Figure 12 Modular Instruments Market in APAC to Grow at Highest CAGR From 2018 to 2023
Figure 13 Modular Instruments Market to Witness Significant Growth From 2018 to 2023
Figure 14 PXI-Based Modular Instruments to Dominate Modular Instruments Market Till 2023
Figure 15 Modular Instruments Market, By Vertical (Opportunity Analysis), 2023
Figure 16 PXI Platform and North American Region Held Largest Shares of Modular Instruments Market in 2017
Figure 17 North America to Hold Largest Share of Modular Instruments Market By 2023
Figure 18 Modular Instruments Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Increase in Mobile Data Traffic From 2016 to 2021
Figure 20 5G Infrastructure Value Chain
Figure 21 5G Infrastructure Market, By Communication Infrastructure, 2020–2026 (USD Million)
Figure 22 Modular Instruments Market: Value Chain Analysis
Figure 23 PXI-Based Modular Instruments to Hold Largest Share of Market During Forecast Period
Figure 24 Modular Instruments Market for R&D Applications to Grow at Higher CAGR During Forecast Period
Figure 25 Modular Instruments Market, By Vertical
Figure 26 Modular Instruments Market for Telecommunications to Register Highest CAGR During Forecast Period
Figure 27 Market for PXI-Based Modular Instruments for Telecommunications in APAC to Grow at Highest CAGR During Forecast Period
Figure 28 North America to Hold Largest Share of Market for PXI-Based Modular Instruments for Electronics & Semiconductor During Forecast Period
Figure 29 North America to Hold Largest Share of Market for PXI-Based Modular Instruments for Aerospace & Defense During Forecast Period
Figure 30 Market for PXI-Based Modular Instruments for Automotive & Transportation in APAC to Grow at Highest CAGR During Forecast Period
Figure 31 Geographic Snapshot of Modular Instruments Market
Figure 32 APAC Expected to Register Highest CAGR Globally During Forecast Period
Figure 33 North America: Modular Instruments Market Snapshot
Figure 34 US to Hold the Major Share of North American Modular Instruments Market
Figure 35 Europe: Modular Instruments Market Snapshot
Figure 36 Germany Expected to Register Highest CAGR in European Modular Instruments Market
Figure 37 Asia Pacific: Modular Instruments Market Snapshot
Figure 38 China & Taiwan Expected to Hold Largest Share of Modular Instruments Market in APAC
Figure 39 Middle East Expected to Register Higher CAGR in Modular Instruments Market in RoW
Figure 40 Key Strategies of Leading Players in Modular Instruments Market From 2015 to 2018
Figure 41 Keysight Technologies: Company Snapshot
Figure 42 National Instruments: Company Snapshot
Figure 43 Viavi Solutions: Company Snapshot
Figure 44 Fortive Corp.: Company Snapshot
Figure 45 Astronics Corp.: Company Snapshot
Figure 46 Teledyne Technologies: Company Snapshot
Figure 47 Rohde & Schwarz: Company Snapshot
Figure 48 Ametek: Company Snapshot
Figure 49 Teradyne: Company Snapshot

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