VXI Test Equipment Market Analysis North America, APAC, Europe, Middle East and Africa, South America - US, China, Germany, Japan, South Korea - Size and Forecast 2024-2028

VXI Test Equipment Market Size 2024-2028

The VXI test equipment market size is forecast to increase by USD 67.2 billion at a CAGR of 26.39% between 2023 and 2028.

• The market is experiencing significant growth due to the increasing production of electronic devices such as smartphones, tablets, smartwatches, and smart thermostats. The demand for interoperability among these devices is driving the need for advanced testing solutions.
• Additionally, the market is witnessing a trend towards price-sensitive and multi-technology solutions to cater to various industries, including automotive electronics and UHD TVs. Furthermore, the growing popularity of fitness and activity trackers is expanding the scope of the market. This report provides an in-depth analysis of the market growth factors and trends, enabling stakeholders to make informed decisions.

What will be the Size of the Market During the Forecast Period?

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• The market is a significant segment of the test and measurement industry, catering to various applications in diverse sectors. Several factors, including the increasing demand for advanced test solutions in multiple industries, drive this market. The semiconductor chip volume is a primary growth driver for the market. With the continuous expansion of the semiconductor industry, there is a growing need for sophisticated test equipment to ensure the quality and reliability of semiconductor devices. Moreover, the consumer electronics sector is another significant contributor to the market growth.
• Furthermore, the increasing popularity of smartphones, tablets, smartwatches, and other wearable devices has led to an escalating demand for VXI test equipment to ensure their optimal performance and functionality. Furthermore, the automotive electronics industry is also a significant consumer of VXI test equipment. The growing adoption of advanced driver assistance systems (ADAS) and electric vehicles (EVs) necessitates rigorous testing to meet safety and performance standards.
• Additionally, the communications sector is another key market for VXI test equipment. With the increasing deployment of 5G networks and the Internet of Things (IoT), there is a growing need for advanced test solutions to ensure seamless connectivity and communication. Moreover, in the industrial electronics sector, VXI test equipment is used extensively for product quality control and process optimization. The increasing adoption of Industry 4.0 and smart manufacturing has further boosted the demand for advanced test solutions. Moreover, the defense sector and the aerospace industry are other significant consumers of VXI test equipment. The need for reliable and high-performance test solutions to ensure the functionality and safety of complex systems in these sectors is driving market growth.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Product
  • Oscilloscopes
  • Function generators
  • Power suppliers
• End User
  • Consumer Electronics
  • Communications
  • Aerospace, Military and Defense
  • Industrial Electronics
  • Others
• Geography
  • North America
    • US
  • APAC
    • China
    • Japan
    • South Korea
  • Europe
    • Germany
  • Middle East and Africa
  • South America

By Product Insights

The oscilloscopes segment is estimated to witness significant growth during the forecast period. Oscilloscopes are essential VXI testing instruments used to examine voltage or current flow in electric devices or components. They are primarily utilized for displaying and interpreting the waveforms of electrical signals. Key applications of oscilloscopes encompass power analysis, data analysis for serial communication, jitter assessment, testing of data storage devices, and time-domain reflectometry. Furthermore, they serve purposes such as measuring time and voltage, bandwidth, differential voltage, and phase and rise time. In the automotive sector, oscilloscopes are employed to analyze ignition systems. Three primary types of oscilloscopes exist: analog, digital, and PC-based. Analog oscilloscopes provide a continuous display of waveforms, while digital oscilloscopes offer enhanced features like higher resolution, better accuracy, and larger memory depth.

Furthermore, PC-based oscilloscopes enable users to analyze signals using software installed on their computers. The demand for oscilloscopes is driven by the increasing use of electronic devices such as smartphones, tablets computers, smartwatches, smart thermostats, UHD TVs, fitness and activity trackers, and automotive electronics. Oscilloscopes are indispensable tools for R&D, production, and maintenance of these devices. As technology advances, oscilloscopes continue to evolve, offering more advanced features and higher performance.

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The oscilloscopes segment was valued at USD 7.40 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

Europe is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In the North American market, the United States holds a substantial position in the growth of the VXI test equipment industry. The US dominance is attributed to its large semiconductor industry, with a significant presence of integrated device manufacturers, fabrication plants, and research and development centers. However, the US electronics manufacturing sector faces competition from Asian companies due to lower labor and operational costs in those regions. Taiwanese and Chinese firms are capitalizing on this advantage and gaining market share from US-based companies. Despite the competition, the US remains a leading market for research and development due to strong intellectual property rights, a favorable regulatory environment, and abundant financing opportunities.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

Augmented production of electronic goods is the key driver of the market. The market is poised for significant expansion in the coming years, driven by the burgeoning communications sector and the industrial electronics industry. Exports of moderately and low-priced equipment from countries like China, Japan, and Singapore are fueling market growth.

The semiconductor and electronics industries' strong expansion in the Asia Pacific region (APAC) is also contributing to the market's growth. Although smartphone sales have plateaued, the increasing shipments of these devices will continue to drive demand for test and measurement equipment. Market fragmentation in North America, Western Europe, and China, along with the decreasing average selling price of smartphones in developed countries, has led to a decline in smartphone sales.

Market Trends

The growing need for interoperability is the upcoming trend in the market. The VXI testing equipment market continues to expand as technology advances, integrating new developments. Simultaneous testing, measurement, and analysis of multiple products are essential features of some test equipment. However, the interoperability challenge arises when new products are incompatible with existing test equipment. This issue transcends various product categories, including video monitors, home networking devices, automated products, smoke alarms, and home gateways, as well as homogeneous devices such as switches and routers. To address these interoperability concerns, manufacturers are focusing on creating versatile test equipment that can be used with a wide range of products. The market is witnessing significant growth as companies strive to offer solutions that cater to the evolving technological landscape.

This approach ensures that businesses can invest in test equipment that remains relevant and effective, regardless of the changing product landscape. In the context of the global economy, the test and measurement market's expansion is influenced by several factors, including the semiconductor chip volume, data acquisition requirements, and the growing demand for consumer electronics.

Market Challenge

The need for price-sensitive and multiple technology solutions is a key challenge affecting the market growth. In the dynamic market, competition is fierce as companies continually invest in research and development to introduce innovative products.

However, the market faces challenges due to rising raw material costs and increasing import duties. These factors, in turn, increase the production costs of test equipment, making it less affordable for price-conscious consumers in the electronics sector. For instance, local Chinese companies offer digital ultrasonic flaw detectors at a USD 1,000 lower price point than leading suppliers.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Agilent Technologies Inc.- The company offers VXI test equipment that is an ideal standard for all high-density, high-speed applications.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Agilent Technologies Inc.
• Airbus SE
• AMETEK Inc.
• Astronics Corp.
• C and H Technologies Inc.
• COMTEL Electronics GmbH
• Data Patterns India Ltd.
• Giga tronics Inc.
• ICS Electronics
• Informtest Holding
• Keysight Technologies Inc.
• North Atlantic Industries
• Phillips Aerospace
• Pickering Interfaces Ltd.
• Spanawave Corp.
• Teradyne Inc.
• Virginia Panel Corp.
• Vitrek LLC
• VX Instruments GmbH
• W-IE-NE-R Power Electronics GmbH

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The VXI testing equipment market is a significant segment of the test and measurement industry, catering to various applications in communications, industrial electronics, consumer electronics, and others. VXI, or VMEbus Extensions for Instrumentation, is a high-performance bus system that enables the integration of various test and measurement instruments. The market growth is influenced by several factors, including the increasing semiconductor chip volume, the expanding use of VXI in consumer electronics such as smartphones, tablets, smartwatches, and smart thermostats, and the growing demand for VXI equipment in automotive electronics, UHD TVs, and wearable devices.

Moreover, the market is witnessing significant growth in the defense sector, helicopters, commercial aircraft, and other applications. The market is competitive, with key players offering a wide range of VXI testing equipment. Product pricing is a crucial factor influencing the market's competitiveness. The market's future outlook is promising, with continuous advancements in technology and increasing demand from various end-users. Smartwatches and fitness & activity trackers are increasingly integrated with advanced technologies from companies like National Instruments, enabling more precise health monitoring and real-time data analysis for users.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, APAC, Europe, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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