According to
the new market research report “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) Region - Global forecast to 2024" The
global precision source measure unit market size is expected to grow from an
estimate of USD 394 million in 2019 to USD 637 million by 2024, 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.
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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.
105- Tables
35- Figures
148- Pages
The automotive application
segment is expected to grow at the highest CAGR in the global precision source
measure unit market during the forecast period.
The automotive application segment is
expected to grow at a higher CAGR during the forecast period, owing to a rise
in demand for electric vehicles and increasing demand for integrated circuits
and multi-point tests & measurements in the automotive industry. The
automotive industry has adopted automation on a massive scale for manufacturing
vehicles. The automation of manufacturing facilities, and the development of
autonomous cars, has led to an increase in demand for sensors as a precision
source measure unit provides a reliable solution for current/voltage testing of
sensors. The increasing number of electronic parts in vehicles is expected to
increase the demand for precision source measure units during the forecast
period.
North America is expected to
be the largest and fastest-growing region of the precision source measure unit
market during the forecast period
In this report, the precision source measure
unit industry has been analyzed for five regions, namely, North America,
Europe, Asia Pacific, South America, and the Middle East & Africa. The
North American market is expected to grow at the fastest CAGR of 10.9% in the
precision source measure unit market during the forecast period. This growth is
driven majorly by the high emergence of aerospace & defense equipment
manufacturing industries in the US. Along with 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.
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To enable an in-depth understanding of the
competitive landscape, the report includes the profiles of some of the top
players in the precision source measure unit market including 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 leading
players are trying to enter the market of developing economies and are adopting
new product launches as a major strategy to increase their market shares.
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