Global VXI Testing Equipment Market - Segmented by Product Type (Oscilloscopes, Function Generators, Power Suppliers), End User (Consumer Electronics, Communications, Aerospace, Military and Defense, Industrial Electronics), and Region - Growth, Trends, and Forecast (2018 - 2023)
The global VXI testing equipment market is expected to register a CAGR of 23.49% over the forecast period of 2018–2023. The scope of the report is limited to the product type offered by major players, which include oscilloscopes, function generators, and power suppliers. End users considered in the scope of the report include consumer electronics, communications, aerospace, military and defense, and industrial electronics.
The primary purpose of the test equipment is to inspect the functionality of the device under test. VXI test equipment uses automated test equipment based on VMEbus. VXI chassis are based on chassis with 13 slots. Increasing the semiconductor chip volume can be the driving factor for the growth of VXI testing market. One of the primary goals of organizations is to have more products in their stock, delivering the custom products in optimum time, and to speed-up the development processes for their new products. VXI testing equipment aids in the process of allocating more time for development, removing the hassle of checking for defects in products for a prolonged period.
Growth of Consumer Electronics
It accounted for 3% of the global GDP and the forecast for the next six years puts it ahead of the global GDP growth rate. This sale of consumer electronics included 1.2 billion smartphones and 250 million tablets, which represents a major share of the global consumer electronics market. With the advent of the internet, some of these devices with applications, such as health monitoring, temperature control, security, and transportation systems will be wirelessly connected. It is also estimated that over 50 billion of these devices are expected to be wirelessly connected by 2020, and this is going to drive the market further. However, the CE industry is expected to be highly influenced by the emerging technologies, such as smart watches, smart thermostats, automotive electronics, UHD TVs, smart eyewear, fitness & activity trackers, and other high-end wearable devices, during the forecast period.
Defense was the Main Recipient of VXI Technology
Defense spending by nations is always very high as compared to other segments. It holds a high priority in applications, as the governments need to secure the most efficient systems for ensuring the safety of the nation. VXI testing finds applications in the defense industry, as it verifies and calibrates the most complex electronics deployed. VXI testing checks the operating software by delivering high-performance digital, analog, mixed-signal and serial bus testing for the entire overall hardware infrastructure setup installed. The functional testing systems by companies investigate the operation of the legacy technology-based applications, while the high speed of testing provides a more economically beneficial solution. The test solutions provide a number of VXI testing manufacturers and a holistic test study in real time for checking all levels of integration.
United States’ Emphasis on Defense
Increase in production of helicopters and commercial aircraft drives the market for testing. The huge aerospace industry of the country exports more than 60% of all the aerospace production. Many foreign firms are attracted to the United States aerospace market as it is the largest in the world, characterized by the skilled and hospitable workforce, diverse offerings and extensive distribution systems. According to the United States Department of Commerce, the country’s aerospace industry has contributed to about USD 118.5 billion to the United States economy, in the form of export sales. This huge demand from the independent aerospace industry relying on massive exports has been a major driver for the growth of the testing equipment in the market. Automated test equipment further finds application in the defense sector. The defense industry in the country has a budget allocation, which is more than the entire economy of more than half of the existing countries in the world.
Key Developments in the Market