The global PXI SMU market size is projected to reach USD 267 million by 2024, from an estimate of USD 124 million in 2019, growing at a CAGR of 16.5% during the forecast period. Asia Pacific is estimated to be the largest consumer of PXI SMU, followed by North America. This trend is expected to continue during the forecast period. The growth of the PXI SMU industry is driven by the demand for high-resolution modular source measure units for critical applications such as in complex semiconductor testing and avionics product testing.
A few players dominated the global PXI SMU market. The key players operating in this market include National Instruments (US), Keysight Technologies (US), Chroma ATE (Taiwan), VX Instruments (Germany), Marvin Test Solutions (US), and LitePoint a Teradyne Company (US). New product launches have been the key growth strategies adopted by major market players. New product launches was the most commonly used strategy used from January 2016 to December 2019.
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Keysight Technologies is a technology provider that offers designing and test solutions for electronics equipment. The principal business activities of Keysight include designing, developing, manufacturing, installation, deployment, validation, optimization and secure operation of electronics systems. It caters its products and services mainly to communications, networking, and electronics industries. The company operates its business through four business segments which are communications solutions group, electronic industrial solutions group, Ixia solutions group, and services solutions group The company offers high precision and high-speed PXIe SMUs which meet critical industrial performance for the characterization and reliability tests of semiconductors, discrete devices, and sensors among others. The electronic industrial solutions group segment of the company has generated revenue of USD 965 million and grew by 15.4% from the previous year. This was mainly because of the high demand for the test & measurement products from the growing telecommunication and wireless communication technology. The company has dedicated R&D facilities for each of its business segments. For the electronic industrial solutions group segment, the manufacturing facilities are located in the US, Malaysia, China, Germany, and Japan. Keysight has a network of over 650 distribution channel partners for its product sales. The company has a presence in over 100 countries across the globe.
National Instruments is a technology and instrumentation provider and specializes in designing, prototyping, and deploying test & measurement instruments. The company is involved in the development and manufacturing of high-performance automated test equipment and virtual instrumentation software. The products offered by National Instruments include software and modular hardware, along with software and hardware maintenance services. The software provided by the company caters to a range of automated programming tests and automated measurement applications such as programming environment, application software, and system and data management. Similarly, the modular hardware products offered by the company are categorized under four portfolios which are data acquisition and control; electronic test and measurement; wireless design and test; and engineering education. The company manufactures its products which are divided into four categories; electronic circuit card and module assembly; chassis and cable assembly; technical manuals and product support documentation; and software duplication. National Instruments developed PXI modular instrument platform, introduced in 1997, which combines mainstream software with advanced test & measurement instruments such as oscilloscopes, digital instruments, frequency counters, power supplies and loads, switches, digital multimeters, waveform generators, source measure units, and platform modules & controllers. The company offers a wide range of PXIe source measure units that are capable of catering to various industrial applications such as semiconductor testing, automotive, aerospace, defense, and government services. These SMUs are more efficient over the traditional source measure units with respect to stability optimization and reducing test times. The company has its manufacturing facilities located in Hungary and Malaysia, while it has three R&D facilities in the US. It has a presence in approximately 50 countries, serving over 35,000 customers across industries.
PXI SMU Market by Channel (1, 2, 4, >4) Application (Semiconductor, Sensor, LED, Green Energy Product, Nanomaterial, Organic & Printed Electronics), End-User (Aerospace, Defense & Government Service, IT & Telecommunication), Region - Global forecast to 2024
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