The source measure unit market is estimated to grow from USD 746.7 million in 2018 to USD 1,102.1 million by 2023, growing at a CAGR of 8.10% between 2018 and 2023
LONDON, May 30, 2018 /PRNewswire/ -- Demand for electronic testing equipment to fuel source measure unit market growth
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The source measure unit market is estimated to grow from USD 746.7 million in 2018 to USD 1,102.1 million by 2023, growing at a CAGR of 8.10% between 2018 and 2023. The market is growing due to the increasing demand for electronic testing equipment in end-user industries such as automotive, aerospace & defense, IT & telecommunications, education and government, process industries, and healthcare.
Output oscillations, ringing, overshoots, and poor transient response times are the drawbacks of source measure units in the case where the system configuration for the device under test is inappropriate. For instance, depending on the load capacitance, the current output voltage bandwidth needs to be selected carefully to avoid output oscillations and poor transient response.
Growing market for electric vehicles and plug-in hybrid electric vehicles propels source measure unit market growth
The need for using the green and renewable resource is largely responsible for the increased adoption of electric vehicles in the recent years.Research, development, and deployment (RD&D), as well as mass production prospects, lead to the rapid decline in the battery cost and increase in energy density.
An SMU allows EV manufacturers to simulate the voltage fluctuations of the electronic devices and sensors in the vehicle. SMUs will prove to be critical electronic equipment for the new and improved designs in the electric and plug-in hybrid electric vehicles.
APAC and North America are the major markets for source measure units
In 2017, APAC held the largest market share.Several OEMs and semiconductor device and product manufacturers are situated in Asia Pacific.
The growing demand for source measure units is attributed to the increasing number of smartphones and continuous upgrading of next-generation telecommunication standards.Moreover, favorable regulatory policies for the approval of new semiconductor technologies and the saturation of the market in developed countries are further intensifying the interest of foreign players in expanding in Asia Pacific.
The market in North America is expected to be driven by the demand from the telecommunications and aerospace & defense industries. Furthermore, the shift toward connected cars and intelligent transportation systems, along with the increasing demand for precision medical devices in the healthcare industry is expected to drive the source measure unit market in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts.
The breakup of the profiles of primary participants is given below:
• By Company Type: Tier 1 = 50%, Tier 2 = 33%, and Tier 3 = 17%
• By Designation: C-Level Executives = 22%, Directors = 27%, and Others = 51%
• By Region: North America = 20%, Europe = 40%, APAC = 10%, and RoW = 30%
Key players profiled in this report are Fortive Corporation (US), Rohde & Schwarz GmbH & Co KG (Germany), Keysight Technologies (US), Yokogawa Electric Corporation (Japan), and National Instruments Corporation (US). Some other companies operating in the source measure unit market are Advantest Corporation (Japan), Viavi Solution, Inc. (US), Chroma ATE Inc. (Taiwan), VX Instruments (Germany), and Teradyne (US).
Research Coverage
The report estimates the size and growth potential of the source measure unit market across segments such as type, form factor, application, end-user industry, and geography. Furthermore, the report includes market dynamics and the competitive analysis of the key players in the market, along with their company profiles and recent developments.
Key Benefits of Buying This Report
The report would help leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the source measure unit market segments and subsegments.This report would help stakeholders better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies.
This report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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