Precision Source Measure Unit Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Precision Source Measure Unit Market is Segmented By Channel(1 µA –1 mA, 1 mA - 1 A, More than 1A), By Form Factor(Benchtop, Modular), By Application(Aerospace, Automotive, Energy, Wireless communication & infrastructure, Consumer Electronics, Medical Equipment, Defense, Government Services, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Precision Source Measure Unit Market Overview

The global precision source measure unit market size is growing at a high CAGR during the forecast period (2023-2030).

Precision Source Measure Unit Market Scope

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The source measure unit (SMU), also known as the source-measurement unit, is electronic equipment that can source and measure data simultaneously. It can precisely push voltage or current while measuring precise voltage and current. In all four quadrants, an SMU instrument can source and drain power.

Precision source measure units are utilized in test applications that require high precision, resolution, and measurement flexibility. I-V characterizes and tests semiconductors and other non-linear devices and materials. The sourcing voltage and current source span of both positive and negative values are examples of such applications. Source measure units use four-quadrant outputs to achieve this. Source measure units are bench devices that work similarly to a curve tracer for characterization.

Precision Source Measure Unit Market Dynamics

The demand for precision source measure units is mainly driven by the increasing global use of electronics in various industries. It is the most important driver for the market. The rising adoption of alternatives is a key factor in limiting the growth of this market.

Increasing use of electronics in various industries

Technological progress in recent decades has led to a proliferation of electronic gadgets in various industries. Industries are becoming automated and digitized rapidly due to innovative practices. Automotive, aerospace, medical equipment, consumer electronics, and home appliances are some of the industries which have undergone radical changes.

Modern-day cars are connected vehicles with a high degree of computer control. Medical equipment also relies on advanced IoT control for faster relay of critical patient information. Home appliances and electronic gadgets are becoming more and more technologically advanced as manufacturers introduce new features to boost sales and drive brand growth. Their flexibility and integration in electronics make source measure units more popular for testing semiconductors, active and passive components, and other devices and materials. The increasing use of electronics in various industries is a key driver for the growth of the global precision source measure unit market.

Rising adoption of alternatives

Precision source measure units are used to calibrate, optimize and test semiconductors and other electronic components. However, the electronic testing equipment industry has undergone technological advances. The electronics equipment industry relies heavily on research and development to innovate and create new products to drive growth. The innovation in the industry has led to the emergence of various alternatives to precision source measure units.

The new testing systems have integrated hardware and software with high customization to suit the testing conditions and requirements. The plans also feature LTE wireless connectivity for quick upload, analysis, and interpretation of results. High costs are the only major drawback preventing their wider adoption.

However, costs can be reduced substantially with the economics of scale and more research, making it an attractive alternative for precision source measure units. The rising adoption of alternatives will be a key challenge for the growth of the global precision source measure unit market.

COVID-19 impact on Precision Source Measure Unit Market Growth

The global precision source measure unit market experienced uneven impacts on revenue in 2020 due to the COVID-19 pandemic. The government-imposed lockdowns and movement restrictions affected the manufacturing of source measure units. A collapse in demand from various end-user industries was observed, especially as the pandemic became more severe and various industries sharply cut back production.

The research and development of new innovative technologies were impacted due to the pandemic since government lockdown and restrictions led to the curtailment of these activities. Therefore, the commercial deployment of new technologies was delayed and financing of new projects was curtailed, impacting the revenues of various companies in the source measure unit sector.

The short-term impact of the COVID-19 pandemic has been relatively severe for the source measure unit market. The pandemic is expected to accelerate the digitization of various industrial sectors. Digitization will bring greater efficiency and ease of operations to the industries and generate greater demand for electronic components. The demand for source measure units remains strong and is expected to grow gradually in the coming years.

Precision Source Measure Unit Market Segment and Shares Analysis

The precision source measure unit market is segmented into the channel, form factor, application, and region. The precision source measure unit market is further segmented into two categories based on form factor, namely benchtop and portable, with portable expected to be leading in this segmentation.

The modular precision source measure unit segment is forecasted to increase fastest during the projected period. A precision modular source measure unit is a must-have tool for precise design and test engineers. Designing a multichannel system to suit the test aims has become possible thanks to the emergence of modular precision source measure units. It provides the user the flexibility needed to cut test costs, with the option to add features like merging several types of instruments in a modular precision source measure unit. The growing use of multichannel systems is likely to drive the modular precision source measure unit market within the forecast period.

Precision Source Measure Unit Market Geographical Analysis

Asia-Pacific is the market leader in the global source measure units market. The region has the largest market share because of the huge number of end-user industries. India, China, Vietnam, Thailand, Malaysia, and Indonesia, which are rapidly industrializing, are driving the region's expanding demand for source measure units.

India and China are the world's top renewable energy producers, notably solar energy. With almost 253 GW of existing capacity and plans to develop 1200 GW of total solar energy capacity by 2030, China has the world's greatest solar energy capacity. In 2022, India's total solar capacity was nearly 50 GW, with a nearly 450 GW capacity increase projected by 2030. Source measure units are used for modulating and calibrating electronic equipment in renewable energy.

India and China have some of the world's largest automobile sectors. The automotive industry in Japan and South Korea is likewise well-developed. Automotive electronic components are calibrated and optimized using source measure units. With over 400 million active 4G connections, the Asia-Pacific region is at the forefront of 4G LTE adoption. In wireless communication, source measure units offer a wide range of testing uses. The Asia-Pacific region will retain the largest market share in the global precision source measure unit market.

Precision Source Measure Unit Companies and Competitive Landscape

The global precision source measure unit market is competitive due to the wide variety of precision source measure units that cater to different types of applications in various industrial verticals. Some of the major players contributing to the growth in the segment are National Instruments Corp, Keysight Technologies, Chroma ATE Inc., Yokogawa Electric Corporation, Rohde & Schwarz, Ossila Ltd, Tektronix, Inc., VX Instruments GmbH, Marvin Test Solutions, Inc. and Artisan Technology Group, LLC. The significant players adopt several growth strategies such as new product launches, joint ventures, and collaborations, contributing to global growth in the industry.

National Instruments Corp

Overview: National Instruments Corporation is a major multinational company specializing in designing and manufacturing automated test equipment and virtual instrumentation software. The company is also involved in data acquisition systems, instrument control, and machine vision system. The company sells its products in more than 40 countries globally through distributors and subsidiaries. National Instruments Corp was founded in 1976 by electrical engineer James Truchard and is headquartered in Austin, Texas, U.S.

Product Portfolio

• PXI Source Measure Unit is the company’s flagship range of source measure units (SMU). Source measure units (SMUs) from the PXI range combine high-precision source and measurement capabilities with time-saving and flexibility-enhancing features. The advantages include high channel density for constructing parallel SMU test systems, deterministic hardware sequencing for decreasing software overhead, and high-speed update and sample rates for rapidly changing setpoints and collecting data.
• The adjustable sample rate and streaming feature of PXI SMUs also allows you to utilize the instrument as digitizer equipment to capture transient behavior. The digital control loop allows you to change the instrument's transient response. The ability to adjust the SMU's transient behavior, known as SourceAdapt, reduces SMU settling time and minimizes overshoot and oscillations, even with highly capacitive loads.

Key Developments:

• In 2020, National Instruments Corp unveiled a new ultra-sensitive source measure unit. The NI PXIe-4135 source measure unit (SMU) has a measurement sensitivity of 10 fA and a voltage output of up to 200 V. The source measure unit can be used to detect low-current signals and can benefit from NI PXI’s high channel density, fast test throughput, and flexibility for applications like a wafer-level parametric test, materials research, and characterization of low-current sensors and ICs.