DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The global precision source measure unit market size is projected to reach USD 637 million by 2024, from an estimated value of USD 394 million in 2019, growing at a CAGR of 10.1% during the forecast period.
The precision source measure unit market is projected to grow at a CAGR of 10.1% from 2019 to 2024
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. The availability of alternatives and certain technical constrains with operating precision source measure units also acts as a restraint for the growth of the market.
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.
Automotive: The largest application for precision source measure unit
The automotive segment accounts for the largest share of the precision source measure unit market in 2018 and is expected to dominate during the forecast period. The automotive industry has adopted automation on a massive scale for manufacturing vehicles. The number of electronic components and parts in new-generation vehicles is increasing enormously. With the increasing number of electronic parts in vehicles, there is a pressing need to ensure that these parts perform their functions accurately and flawlessly. The growing demand for precise test and measurement solutions in the automotive industry is expected to drive the market for automotive precision source measure units during the forecast period.
North America: The largest market for precision source measure unit
The North American market is currently the largest precision source measure unit market, followed by the markets in the Asia Pacific, Europe, the Middle East & Africa, and South America. The North American market is projected to grow at the second-highest CAGR during the forecast period. This growth is driven majorly by the emergence of aerospace & defense equipment manufacturing industries in the US. According to the National Academies Press, Boeing is the largest exporter within the US, and the US aerospace industry is the single largest contributor to the nation's positive surplus of trade. The 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.
Why buy this report?
- The report identifies and addresses the key markets for the precision source measure unit, which would help OEMs review the growth in demand for the product.
- The report on the global precision source measure unit market helps solutions providers understand the pulse of the market and provides insight into drivers, restraints, and challenges.
- The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
Key Topics Covered:
1.1 Objectives of the Study
1.3 Market Scope
2 Research Methodology
2.1 Research Data
2.3 Market Size Estimation
2.4 Market Breakdown and Data Triangulation
2.5 Primary Insights
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Precision Source Measure Unit Market
4.2 Precision Source Measure Unit Market, By Current Range
4.3 Precision Source Measure Unit Market, By Form Factor
4.4 Precision Source Measure Unit Market, By Application
4.5 North America Precision Source Measure Unit Market, By Application & Country
4.6 Precision Source Measure Unit Market, By Region
5 Market Overview
5.2 Market Dynamics
6 Precision Source Measure Market, By Current Range
6.2 1 a - 1 Ma
6.2.1 Semiconductor Component Test & ATE Systems Drive the Demand for 1 a - 1 Ma Segment
6.3 1 Ma - 1 A
6.4 Above 1 A
7 Precision Source Measure Unit Market, By Form Factor
8 Precision Source Measure Unit Market, By Application
8.2 Aerospace, Defense & Government Services
8.5 Wireless Communication & Infrastructure
9 Precision Source Measure Unit Market, By Region
9.2 North America
9.3 Asia Pacific
9.5 Middle East & Africa
9.6 South America
10 Competitive Landscape
10.2 Ranking of Players, 2018
10.3 Competitive Scenario
10.3.1 New Product Launches
11 Company Profiles
11.1 Original Equipment Manufacturer
11.1.1 Keysight Technologies
11.1.2 National Instruments
11.1.3 Chroma ATE
11.1.5 Yokogawa Electric
11.1.6 Rohde & Schwarz
11.1.7 Artisan Technology Group
11.1.8 Vx Instruments
11.1.10 Marvin Test Solutions
11.2.1 Amplicon Liveline
11.2.2 Mouser Electronics
11.2.4 Dan-El Technologies
11.2.8 Ttid (Thurlby Thandar Instrument Distribution)
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