The global Source Measure Unit market is predicted to garner earnings worth approximately 1.63 (USD Billion) by 2026 and is set to record a CAGR of more than 9% over the period from 2020 to 2026. The report offers assessment and analysis of the Source Measure Unit market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Details of the Report:
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Report Metric |
Details |
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Base Year |
2019 |
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Historical Data |
2017 and 2018 |
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Forecast period |
2020-2026 |
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Market Representation |
Earnings provided in terms of USD Billion and CAGR estimated from 2020 to 2026 |
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Segments Analyzed |
By Application, By Form Factor, By End-User Industry, By Type, and By Region |
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Regions Analyzed |
North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa |
Introduction
The Source Measure Unit (SMU) is an equipment that can source voltage or current and concurrently measure both the voltage as well as the electric current. Precisely, it is a single tightly synchronized device arranged in a compact form. Source measure units provide accurate measurement as a result of their manifold functionalities. Furthermore, the market for source measure unit is likely to gain traction owing to the efficient performance and versatility in measurement offered by source measure units.
Market Growth Dynamics
The acceptance of the source measure units is rising due to the constant creation of solutions for testing as well as measuring of power electronic parts. In addition to this, inception of new technologies such as electric vehicles and connected things will steer the industry surge over the years ahead. Rise in the automation witnessed in various manufacturing industries has transformed into humungous need for precision as well as repetitiveness of electronic device, thereby culminating in the market expansion.
Furthermore, source measure units are also utilized in testing semiconductor as well as electronic equipment due to their flexible features. This, in turn, will foster the growth of the source measure unit business within the next few years.
Asia Pacific To Lead Overall Market Growth During Forecast Timeline
The regional market expansion over the period from 2020 to 2026 is owing to large-scale adoption of 4G solutions as well as 5G solutions in the countries like China, Japan, Taiwan, Singapore, South Korea, and India. Furthermore, growing necessity for mobile, iPhone, and smartphone testing will further impel the scope of the business in the Asia Pacific zone. Apart from this, presence of huge number of smartphone & iPhone subscribers in the region will further amplify the regional market size during the estimated timeframe.
Key participants influencing the market growth include Chroma ATE Inc., Advantest Corporation, VX Instruments, National Instruments Corporation, Viavi Solution, Inc., Yokogawa Electric Corporation, and Teradyne.
The global source measure unit market is segmented as follows:
By Type
- Precision SMUs
- General-Purpose SMUs
- Application-Specific SMUs
By Form Factor
- Benchtop
- Modular
By Application
- Semiconductor Devices
- Sensors
- Light-Emitting Diodes
- Green Energy Products
- Precision Electronics
- Nanomaterials
By End-User Industry
- IT and Telecommunications
- Automotive
- Healthcare
- Aerospace & Defense
- Process Industries
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The key growth drivers that will leverage the business space include the constant creation of solutions for testing as well as measuring of power electronic parts.
The CAGR of the industry is expected to be over 9% during the forecast timeline.
Asia Pacific region will contribute lucratively towards the global market value over the estimated timeline.
