DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/663gwl/global_modular) has announced the addition of the "Global Modular Instrument Market 2012-2016" report to their offering.
TechNavio's analysts forecast the Global Modular Instrument market to grow at a CAGR of 12.20 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing need for cost-effective automated test equipment. The Global Modular Instrument market has also been witnessing increasing R&D activities across industries. However, the increasing price war among vendors could pose a challenge to the growth of this market.
The key vendors dominating this market space are Agilent Technologies Inc., EADS North America Defense Test and Services Inc., National Instrument Corp., and Aeroflex Holding Corp.
The other vendors mentioned in the report are VTI Instruments Corp., Giga Tronics Inc., Rohde and Schwarz GmbH and Co KG, Guzik Technical Enterprises Inc., Phase Matrix Inc., Tabor Electronics Ltd., and United Electronic Industries, Inc.
According to the report, the increasing need for cost-effective automated test equipment is one of the key factors that drives the growth of the Global Modular Instrument market. There are two types of test instruments, namely: traditional instruments and modular instruments. The architecture of these two instruments is different from each other. In traditional instrument architecture, many components such as chassis and power supply are individually assigned to each discrete instrument. However, in well-designed modular instrument systems, several discrete instruments are clubbed into one system and various components such as power supply, controller, and chassis are shared across instrument modules instead of duplicating these components for every instrument. This in turn helps in reducing the cost of the modular instruments significantly. Hence, a number of organizations across the globe prefer modular instruments compared to traditional instruments.
Further, the report reveals that a major challenge in the market is the reluctance to invest in new test and measurement equipment.
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