DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/4gjvmj/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.
Commenting on the report, an analyst from the Engineering team said: ''Increasing RandD activities across various industries such as Automotive, Chemical, Pharmaceutical, Aerospace, Military, and Telecom is the key trend in this market. As the competition among organizations across industries is increasing, organizations are forced to develop compact, innovative, and durable products with increased quality (and at a competitive price). Hence, the organizations have begun to invest significantly in R&D activities in order to differentiate their products from competitors, which in turn helps them to increase their market presence. During these RandD activities, organizations in turn adopt the best-in-class automated test and measurement equipment to develop effective and reliable products. Thus, these increasing RandD activities across industries will in turn increase the demand for the latest test and measurement instrument such as PXI modular instruments across industries.''
For more information visit http://www.researchandmarkets.com/research/4gjvmj/global_modular
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