Source Measure Unit Market Size, Share, Trends, Growth and Forecast 2032

Source Measure Unit Market Insights

According to a report from Zion Market Research, the global Source Measure Unit Market was valued at USD 861.3 Million in 2023 and is projected to hit USD 2703.51 Million by 2032, with a compound annual growth rate (CAGR) of 12.1% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Source Measure Unit industry over the next decade.

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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.

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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.

Source Measure Unit Market: Report Scope

Asia Pacific To Lead Overall Market Growth During Forecast Timeline

The regional market expansion over the period from 2024-2032 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
• Yokogawa Electric Corporation
• 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