Modular Instruments Market Size, Share & Trends Analysis Report By Platform (PXI, AXIe, VXI), By Application (Research & Development, Manufacturing & Installation), By End Use, By Region, And Segment Forecasts, 2024 - 2030

Report Overview

The global modular instruments market size was valued at USD 2.30 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 9.6% from 2024 to 2030. The rising demand for modular instruments is attributed to their enhanced integration capabilities with software-defined platforms. Industries such as semiconductor manufacturing and automotive testing increasingly rely on automation and precision. Modular instruments provide greater compatibility with software interfaces, enabling real-time data processing, analytics, and automation in complex testing environments. Additionally, as the Internet of Things (IoT) and 5G technologies expand, there is a growing need for versatile testing solutions that can handle high-speed data transmission and multifaceted connectivity scenarios. With their ability to integrate new testing capabilities, modular instruments are well-suited to meet these evolving challenges, making them indispensable in cutting-edge technological sectors.                                    

Another significant driver is the surge in industry research and development (R&D) activities. Companies invest heavily in innovation to remain competitive, particularly in fields like renewable energy, medical technology, and automotive engineering. Modular instruments offer a cost-effective solution for R&D labs, allowing researchers to experiment with various configurations without purchasing entirely new equipment. This adaptability is crucial in research settings, where testing requirements are often subject to frequent changes. Additionally, modular instruments can handle a broader range of applications, making them highly versatile in multi-disciplinary research environments.

The rise of smart manufacturing and Industry 4.0 also contributes to the increased demand for modular instruments. With factories becoming more digitized and interconnected, there is a growing need for equipment seamlessly integrating with automated systems. Modular instruments with advanced communication interfaces and data acquisition capabilities enable real-time monitoring and control within smart production lines. Their ability to interface with industrial IoT systems and other digital platforms is critical in maintaining operational efficiency, minimizing downtime, and ensuring high-quality output. This trend is particularly prominent in sectors like semiconductor manufacturing, where precision and speed are essential for competitive advantage.

Lastly, regulatory and compliance standards across industries are becoming more stringent, especially in healthcare, automotive, and environmental monitoring. Modular instruments allow companies to stay compliant by offering testing solutions that can be easily adapted to meet new regulations. The ability to update or reconfigure a system by swapping out individual modules helps businesses remain agile in changing standards, reducing the need for costly new equipment purchases. This flexibility to respond to regulatory shifts makes modular instruments highly appealing in industries with strict compliance requirements.

Platform Insights

The PXI segment held the largest market revenue share of 61.4% in 2023. PXI offers high-speed data transfer, superior synchronization, and a scalable architecture, making it suitable for the aerospace, automotive, and telecommunications industries, where precision testing and automation are crucial. As industries adopt more complex electronic systems, the need for efficient, adaptable testing platforms like PXI is rising, driving demand across sectors looking for enhanced performance and reliability in their operations.

The AXIe segment is expected to grow at the fastest CAGR over the forecast period. AXIe offers a robust architecture that supports high-performance instrumentation, making it suitable for aerospace, defense, and telecommunications sectors, where data processing speed and accuracy are critical. Its compatibility with other modular standards, such as PXI and LXI, also allows for seamless integration into existing systems. This drives its adoption as industries prioritize efficient and adaptable testing solutions. The open standard nature of AXIe also promotes innovation and cost-efficiency, further fueling demand.

Application Insights

The research & development segment held the largest market revenue share in 2023. The growing need for advanced testing and measurement solutions across industries such as telecommunications, aerospace, and electronics drives the segment growth. R&D teams are focused on developing next-generation technologies requiring precise, flexible, and scalable testing equipment. Modular instruments offer the versatility to adapt to different testing environments and integrate easily with other instruments, making them suitable for R&D purposes. Additionally, as industries continue to innovate and explore areas like 5G, autonomous vehicles, and smart devices, the need for modular, customizable solutions in R&D is driving the demand further.

The manufacturing & installation segment is expected to grow at the fastest CAGR over the forecast period. As industries shift towards automation, smart manufacturing, and more complex technologies, modular instruments provide the flexibility to adapt to various applications and environments, ensuring high-quality output and efficient installations. These instruments enable real-time data collection, helping manufacturers streamline operations, reduce errors, and ensure compliance with standards. Additionally, in installation processes, modular instruments are valued for their portability and ability to be customized, making them essential for providing the correct setup of equipment and systems.

End Use Insights

The telecommunications segment held the largest market revenue share in 2023. There is a notable increase in demand for high-speed internet and data services in the telecommunications industry. The increase in smart devices, streaming services, and cloud computing is mainly responsible for this growing demand. Telecommunications companies are making significant investments in upgrading infrastructure, including the use of modular instruments to improve network performance testing and measurement, to meet the growing demands for faster and more dependable connections from consumers and businesses.

The electronics & telecommunications segment is expected to grow at the fastest CAGR over the forecast period. The rising complexity of semiconductor devices and the need for more advanced testing solutions drives the segment growth. As electronics evolve with smaller, faster, and more efficient components, manufacturers require flexible, high-performance testing equipment to ensure precision and reliability. Modular instruments' scalability and cost-efficiency allow manufacturers to adapt testing setups based on specific needs without investing in completely new systems. Additionally, the growing applications of semiconductors in emerging technologies such as 5G, IoT, and AI further drive the need for advanced testing equipment, supporting the rise in demand for modular instruments in this sector.

Regional Insights

North America held the largest market revenue share of 36.4% in 2023. The growing need for flexible, scalable testing and measurement solutions across various industries, particularly in the telecommunications, aerospace, and automotive sectors, drives market growth. As companies in these sectors adopt advanced technologies such as 5G, autonomous vehicles, and IoT, the complexity of testing requirements has risen significantly. Modular instruments offer customizable configurations, allowing organizations to tailor their testing setups to meet specific needs while also reducing costs and improving efficiency. Additionally, the rise in R&D activities and the push for faster product development cycles in North America drive demand for these versatile testing tools.

U.S. Modular Instruments Market Insights

The U.S. held the largest regional market revenue share in 2023. The U.S. Department of Defense and major aerospace companies invest heavily in advanced testing systems to support next-generation aircraft, satellite systems, and military equipment. In telecommunications, the rollout of 5G infrastructure across the U.S. requires precise and adaptable testing equipment to meet the unique challenges of high-speed, low-latency networks.

Europe Modular Instruments Market Insights

Europe was witnessed as lucrative in this industry. Europe's notable position in the worldwide modular instruments market is due to its focus on innovation and commitment to strict regulatory standards. Europe's emphasis on this has established the continent as a crucial influencer in propelling developments in the sector. These industries profit from employing modular tools for strict testing needs, advancements in technology, and monitoring processes to guarantee quality assurance.

The UK market is anticipated to witness a prominent growth in the coming years. The UK's push for advancements in 5G infrastructure and autonomous vehicles has driven companies to seek adaptable testing systems that can scale with evolving technologies. Modular instruments offer the ability to configure and reconfigure test setups without needing entirely new systems, which reduces costs and enhances efficiency. The trend towards Industry 4.0 and smart manufacturing has also encouraged UK businesses to adopt modular systems that seamlessly integrate into automated processes.

Asia Pacific Modular Instruments Market Insights

Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The rapid growth of telecommunications, automotive, and electronics manufacturing industries drives market growth. As these sectors expand, there is a growing need for advanced testing and measurement solutions to keep up with new technologies, such as 5G networks and electric vehicles. Additionally, the increasing focus on automation and Industry 4.0 initiatives across countries such as China, Japan, and South Korea further drives the adoption of these instruments, as they provide cost-effective and efficient solutions for complex testing needs.

China market is projected to grow rapidly in the coming years. As China continues to expand its 5G infrastructure and bolster its semiconductor manufacturing capabilities, there is a higher need for flexible and scalable testing systems like modular instruments. Additionally, government initiatives focusing on industrial automation and R&D investments are driving the adoption of modular instruments across various sectors in China.

Key Companies and Market Share Insights

Some key companies in the modular instruments market include Keysight Technologies; NATIONAL INSTRUMENTS CORP.; Fortive Corporation; VIAVI Solutions Inc.; Astronics Corporation; and others.

• National Instruments (NI) provides a diverse range of modular instruments, mainly utilizing PXI and PXI Express technology. This equipment spans across a broad range of frequencies from DC to 26.5 GHz, featuring precise digitizers and reliable digital multimeters. NI's modular instruments are recognized for their top-notch performance, adaptability, and smooth compatibility with NI's software suite, which includes LabVIEW. This makes them perfect for a range of uses, from automated testing setups to complex data collection and control assignments.

• Fortive Corporation, through its subsidiary Tektronix, offers a range of modular instruments designed for precision measurement and monitoring. These include high-performance oscilloscopes for signal analysis, signal generators for creating electronic signals, spectrum analyzers for frequency spectrum analysis, and modular power supplies for various applications. These instruments are known for their flexibility and scalability, making them ideal for diverse fields such as wireless communications, high-speed computing, aerospace, and consumer electronics.

Recent Developments

• In August 2024, Astronics Corporation announced the launch of its next-generation handheld radio test set, the CTS-3000. This device is designed to provide field technicians with an advanced tool for testing land mobile radios (LMR) across various frequency bands, including those used by military, civil aviation, and public safety organizations. The CTS-3000 offers a lightweight, portable solution, improving efficiency and reducing downtime for communication systems.

• In October 2023, AMETEK, Inc. announced the acquisition of Amplifier Research Corp. (AR), a company specializing in high-performance RF and microwave amplifiers used in electromagnetic compatibility (EMC) testing, communications, and defense applications. The acquisition aims to enhance AMETEK's Electronic Instruments Group, expanding its product offerings in the radio frequency and microwave sectors.

Modular Instruments Market Report Scope

Global Modular Instruments Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the modular instruments market report based on platform, application, end use, and region.

• Platform Outlook (Revenue, USD Million, 2018 - 2030)

  • PXI

  • AXIe

  • VXI

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Research & Development

  • Manufacturing & Installation

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Telecommunications

  • Aerospace & Defense

  • Automotive & Transportation

  • Electronics & Semiconductor

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • Saudi Arabia

    • South Africa

    • UAE