According to a new report, published by KBV research, The Global Modular Instruments Market size is expected to reach $4.38 billion by 2031, rising at a market growth of 9.2% CAGR during the forecast period.
The Manufacturing & Installation segment is registering a CAGR of 9.6% during (2024 - 2031). The expansion of smart factories and Industry 4.0 has increased the adoption of automated and modular testing solutions to ensure seamless production and compliance with global standards. Sectors such as consumer electronics, automotive manufacturing, and high-performance computing rely on modular instruments to enhance production efficiency, minimize errors, and optimize throughput. The demand for automated assembly lines, robotics, and predictive maintenance solutions further propels the use of modular instruments in manufacturing environments.
The PXI segment leading the Global Modular Instruments Market by Platform in 2023; thereby, achieving a market value of $2.5 billion by 2031. The PXI (PCI eXtensions for Instrumentation) segment is driven by its high-speed data acquisition, scalability, and cost-effectiveness, making it the preferred choice for telecommunications, aerospace, defense, and semiconductor testing industries. Additionally, PXI’s seamless integration with LabVIEW and other test software and its ability to support multi-channel testing in a single chassis makes it ideal for applications requiring high accuracy and efficiency in automated test setups. The growing need for rapid prototyping, predictive maintenance, and high-throughput testing in industrial and manufacturing sectors continues to propel the adoption of PXI-based modular instruments.
The Aerospace & Defense segment is anticipating a CAGR of 8.7% during (2024 - 2031). The increasing complexity of military communication systems unmanned aerial vehicles (UAVs), and next-generation aircraft require high-frequency, real-time signal processing and precision testing to meet stringent defense and aerospace regulations. Modular instruments provide the flexibility and scalability needed for these mission-critical applications, enabling automated diagnostics, system integration, and rapid technology upgrades.
Full Report: https://www.kbvresearch.com/modular-instruments-market/
The North America region is leading the Global Modular Instruments Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.4 billion by 2031. The Europe region is experiencing a CAGR of 8.8% during (2024 - 2031). Additionally, The Asia Pacific region is showcasing a CAGR of 9.7% during (2024 - 2031).
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