Precision Source Measure Unit Market Trends

Growth Drivers

Growing Demand for Automation in End User Industries to Boost the Market Growth

Since the requirements for high precision, resolution, flexibility and repeatability of the electronic equipment is increasing, there is a significant rise in demand for measuring units to facilitate the testing process of semiconductor devices more quickly and easily. Innovated precision source measure unit are being developed which offers highly flexible, four-quadrant voltage and current load, accuracy in measurement of signals along with precision voltage and current meters. This is anticipated to significantly expand the precision source measure unit market.

Globally Expanding Automobile Industry to Drive the Market Growth

The automobile industry has adopted automation on a huge scale for manufacturing commercial vehicles and passenger cars. According to statistical data released by International Organization of Motor Vehicle Manufacturers (OICA), the total production of cars globally was 67.14 million in 2019. Owing to the increasing number of electronic parts in automotive products, there is a need to perform testing process for their functions more accurately and flawlessly. Furthermore, precision source measure units are used to provide multipoint measurements in automotive test applications. This is propelling the growth of the precision source measure unit market.

Challenges

High Initial and Maintenance Costs to Hamper the Market Growth

Despite the improving development in technology, there is high initial and maintenance costs involved in operating precision source measure unit which is also not affordable to small-scale enterprises. This factor is estimated to hinder the growth of precision source measure unit market in the future.