$637M Precision Source Measure Unit Market Outlook, 2020-2024 | Featuring Tektronix, Keysight Technologies, National Instruments, Chroma ATE, and More
DUBLIN, Feb. 25, 2020 /PRNewswire/ -- The "Precision Source Measure Unit Market by Current Range (1µA-1mA, 1mA-1A, Above 1A), Application (Aerospace, Defense & Government Services, Automotive, Energy, Wireless Communication & Infrastructure), Form Factor (Benchtop, Modular) and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global precision source measure unit market size is projected to reach USD 637 million by 2024, from an estimated value of USD 394 million in 2019, growing at a CAGR of 10.1% during the forecast period.
The growth of the precision source measure unit industry can be attributed to the high level of integration & flexibility of the precision source measure unit, and growing demand from the automotive and medical industries. The availability of alternatives and certain technical constrains with operating precision source measure units also acts as a restraint for the growth of the market.
The players operating in precision source measure unit market includes Tektronix (US), Keysight Technologies (US), National Instruments (US), Chroma ATE (Taiwan), Yokogawa Electric (Japan), VX Instruments (Germany), Rohde & Schwarz (Germany), Ossila (UK), and Marvin Test Solutions (US).
The modular precision source measure unit segment is expected to grow at the highest CAGR from 2019 to 2024
The modular precision source measure unit segment is estimated to be the fastest-growing segment of the precision source measure unit market, by form factor, from 2019 to 2024. A modular source measure unit is an essential instrument for design and test engineers. With the development of modular source measure units, designing a multichannel system has become possible.
The North American and Asia Pacific regions have shown the highest demand for such source measure units, and are expected to dominate this segment during the forecast period. The increasing demand for modular source measure units in the Asia Pacific region is primarily due to the growing investments in the test and measurement industry in China, Japan, South Korea, and India.
Automotive: The largest application for precision source measure unit
The automotive segment accounts for the largest share of the precision source measure unit market in 2018 and is expected to dominate during the forecast period. The automotive industry has adopted automation on a massive scale for manufacturing vehicles. The number of electronic components and parts in new-generation vehicles is increasing enormously.
With the increasing number of electronic parts in vehicles, there is a pressing need to ensure that these parts perform their functions accurately and flawlessly. The growing demand for precise test and measurement solutions in the automotive industry is expected to drive the market for automotive precision source measure units during the forecast period.
North America: The largest market for precision source measure unit
The North American market is currently the largest precision source measure unit market, followed by the markets in the Asia Pacific, Europe, the Middle East & Africa, and South America. The North American market is projected to grow at the second-highest CAGR during the forecast period. This growth is driven majorly by the emergence of aerospace & defense equipment manufacturing industries in the US.
According to the National Academies Press, Boeing is the largest exporter within the US, and the US aerospace industry is the single largest contributor to the nation's positive surplus of trade. The increasing demand for test and measurement solutions in the aerospace & defense industry as well as the automotive industry in the North American region is expected to drive the market for precision source measure unit during the forecast period.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Precision Source Measure Unit Market
4.2 Precision Source Measure Unit Market, By Current Range
4.3 Precision Source Measure Unit Market, By Form Factor
4.4 Precision Source Measure Unit Market, By Application
4.5 North America Precision Source Measure Unit Market, By Application & Country
4.6 Precision Source Measure Unit Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Level of Integration and Flexibility of Precision Source Measure Unit
5.2.1.2 Growing Demand From the Automotive and Medical Industries
5.2.1.3 Growing IoT Market Leverages Precision SMUs for Device Testing
5.2.2 Restraints
5.2.2.1 Technical Factors Inhibiting the Market Growth of Precision Source Measure Unit
5.2.2.2 Availability of Alternatives
5.2.3 Opportunities
5.2.3.1 Advent of 5G Technology and Deployment of LTE Networks
5.2.3.2 Adoption of High-Density Precision Source Measure Unit for Testing
5.2.4 Challenges
5.2.4.1 Matching Pace With Constantly Evolving Technologies
6 Precision Source Measure Market, By Current Range
6.1 Introduction
6.2 1 a - 1 Ma
6.2.1 Semiconductor Component Test & ATE Systems Drive the Demand for 1 a - 1 Ma Segment
6.3 1 Ma - 1 A
6.3.1 Easy System Integration Drives the Demand for 1 Ma - 1 A Current Range
6.4 Above 1 A
6.4.1 Triaxial Connectivity and Source Adapt Technology are the Major Growth Drivers for the Above 1 A Segment
7 Precision Source Measure Unit Market, By Form Factor
7.1 Introduction
7.2 Benchtop
7.2.1 Design Engineering and Troubleshooting Applications Drive the Demand for Benchtop Source Measure Units
7.3 Modular
7.3.1 Multichannel System Design Application is Expected to Drive the Modular Source Measure Unit Market
8 Precision Source Measure Unit Market, By Application
8.1 Introduction
8.2 Aerospace, Defense & Government Services
8.2.1 ATE Systems and Calibration Services Applications Drive the Demand in Aerospace, Defense & Government Services
8.3 Automotive
8.3.1 Increasing Demand for EVs is Expected to Increase the Demand for Multipoint Test & Measurements
8.4 Energy
8.4.1 Wide Adoption of Solar Technology and Its Growing Applications Lead the Development of Solar (PV) Products
8.5 Wireless Communication & Infrastructure
8.5.1 Growing Iot Market Demands Precision Source Measure Units for Device Testing
8.6 Others
8.6.1 Increasing Demand for Consumer Electronic Products Drives the Market for Precision Test & Measurement Equipment
9 Precision Source Measure Unit Market, By Region
9.1 Introduction
9.2 North America
9.3 Asia Pacific
9.4 Europe
9.5 Middle East & Africa
9.6 South America
10 Competitive Landscape
10.1 Overview
10.2 Ranking of Players, 2018
10.3 Competitive Scenario
10.3.1 New Product Launches
11 Company Profiles
11.1 Original Equipment Manufacturer
11.1.1 Keysight Technologies
11.1.2 National Instruments
11.1.3 Chroma ATE
11.1.4 Tektronix
11.1.5 Yokogawa Electric
11.1.6 Rohde & Schwarz
11.1.7 Artisan Technology Group
11.1.8 VX Instruments
11.1.9 Ossila
11.1.10 Marvin Test Solutions
11.2 Distributors
11.2.1 Amplicon Liveline
11.2.2 Mouser Electronics
11.2.3 Entest
11.2.4 Dan-El Technologies
11.2.5 Testequity
11.2.6 Transcat
11.2.7 Vigven
11.2.8 TTID (Thurlby Thandar Instrument Distribution)
11.2.9 Element14
11.2.10 Testpower
For more information about this report visit https://www.researchandmarkets.com/r/7cjccp
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