The
large share of the telecommunications vertical in the modular
instruments market is attributed to the ongoing developments in technology.
In addition, widespread demand for wireless technologies is currently driving
the market for the telecommunications sector. The market is expected to grow
substantially during the forecast period with the increasing subscriber base
for different advanced technologies, such as WiMax, 3G, 4G, LTE, LTE-A, and 5G.
The
demand for wireless technologies is fueled by developments in the wireless
communications industry, such as long-term evolution (LTE), increased adoption
of smart devices, higher mobility, and the explosive growth of mobile data
traffic. Despite lesser power requirements, newly evolving smart devices
transmit large amounts of rich data that demand latency and responsiveness of
LTE networks.
The
need for accuracy and the drive to deliver best possible results to customers
have led to the creation of new modular instruments. In the communication and
networking sector, an orbital shift from providing primarily voice-based
services to offering integrated voice, video, and data services has
necessitated the need for solutions to test performance and capacity of
undergirding networks. The transition to fourth-generation (4G) network, with
advanced modulation and antenna techniques, has improved services and quality.
Ongoing R&D activities in cellular technologies such as for LTE, long term
evolution advanced (LTE-A), and wired technologies, such as Ethernet and fiber
optics, are the major factors driving this market.
Deployment
of LTE is providing substantial opportunities for modular instruments
manufacturers to capitalize upon. In order to achieve this, huge and
technologically more advanced infrastructure is required; this is eventually
expected to increase the use of modular instruments for testing LTE gateways
and access points, especially in the wireless communication industry.
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The
modular instruments market was valued at USD 1.12 billion in 2017 and is
expected to reach USD 2.11 billion by 2023, at a CAGR of 9.6% during the
forecast period. The base year considered for the study is 2017 and the
forecast period is from 2018 to 2023.
Some
of the other prominent players in the market include Giga-tronics (US), Elma
Electronic (Switzerland), Asis Pro (Israel), Guzik technical Enterprises (US),
Test Evolution Corporation (US), Adlink Technology (Taiwan), Chroma ATE
(Taiwan), GOEPEL Electronic (Germany), Marvin Test Solutions (US), and Bustec
(UK).
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