Dublin, April 10, 2024 (GLOBE NEWSWIRE) -- The "Source Measure Units (SMU) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Source Measure Units (SMU) Market to Reach $1.4 Billion by 2030
The global market for Source Measure Units (SMU) estimated at US$927 Million in the year 2023, is projected to reach a revised size of US$1.4 Billion by 2030, growing at a CAGR of 5.6% over the analysis period 2023-2030.
The importance of voltage measurement forms the bedrock for the expansion of source measure units (SMU), a crucial component in various industries. In this competitive environment, the market share of SMU's global key competitors in 2023, along with their market presence, whether strong, active, niche, or trivial, provides insights into the competitive dynamics.
Understanding what a source measure unit (SMU) entails and why it serves as an essential tool in workbench environments is critical for stakeholders. Additionally, insights from influencers, products, and technology trends contribute to understanding market dynamics and recent developments, shaping strategies and decision-making processes.
Modular SMU, one of the segments analyzed in the report, is projected to record 6.2% CAGR and reach US$1.1 Billion by the end of the analysis period. Growth in the Benchtop SMU segment is estimated at 3.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $271.8 Million, While China is Forecast to Grow at 7.8% CAGR
The Source Measure Units (SMU) market in the U.S. is estimated at US$271.8 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$279.8 Million by the year 2030 trailing a CAGR of 7.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 376 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $927 Million |
| Forecasted Market Value (USD) by 2030 | $1400 Million |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
MARKET OVERVIEW
- Importance of Voltage Measurement Provides the Foundation for the Growth of Source Measure Units (SMU)
- Global Economic Update
- Global Oil Prices Remain Nervous Amid Acute Geopolitical Uncertainty & Tensions that Heighten Threat of Market Shocks: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2025
- While Still Not in the Comfort Zone, the Expected Steeper Fall in Inflation in 2024 Can Cushion Economic Growth by Easing Financial Conditions: Global Headline Inflation Rates (In %) for the Years 2019 through 2025
- Flat Growth for 2024 & A Possible Soft Landing, as the Global Economy Attempts to Balance Recovery While Navigating Through Wars, Political Conflicts & Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2022 Through 2025
- Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
- Competition
- Source Measure Units (SMU) - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- What is a Source Measure Unit (SMU) & Why is it an Integral Workbench Companion?
- Influencer/Product/Technology Insights
- Recent Market Activity
MARKET TRENDS & DRIVERS
- A Strong Electronic Test and Measurement Instruments Market Sets the Tone for Growth of Source Measure Units (SMU)
- Source Measure Unit Market to Thrive Amidst a Robust Electronic Testing Industry: Global Market for General Purpose Electronic Test and Measurement Instruments (In US$ Million) for Years 2023, 2025 and 2027
- Growing Spending on Material Development & Research and the Ensuing Need for Electrical Testing of Materials Drives Demand for SMUs
- Everything is Made Up of Something. The Era of Advanced Materials Continues to Transform & Elevate the Role of SMUs in the Development of Electrical Materials: Global Market for Advanced Materials (In US$ Billion) for Years 2023, 2025, 2027, 2029 and 2031
- Rise of Nanoelectronics Bodes Well for Expanded Use of Source Measure Units (SMU)
- SMUs Emerge at the Forefront of Nanoelectronics Testing, Accelerating & Facilitating New Breakthroughs: Global Market for Nanoelectronics (In US$ Million) for Years 2024, 2026, 2028 and 2030
- Robust Solar Cell & Photovoltaic Manufacturing Ushers in Opportunities for Source Measure Units (SMU)
- Robust Increases in PV Solar Module Manufacturing Capacity to Elevate Demand for SMUs: Global Solar Module Manufacturing Capacity (In GW) for Years 2024, 2026, 2028 and 2030
- Battery Testing Emerges Into the Spotlight as a Key Application Area in the Era of Battery Powered Electronics
- A Growing Market for Batteries Pushes Battery Testing With SMUs Into the Spotlight: Global Market for Batteries (In US$ Billion) for Years 2024 2026, 2028 and 2030
- PXI Source Measure Units (SMU) Rises in Prominence for Wafer-Level Reliability Testing
FOCUS ON SELECT PLAYERS(Total 23 Featured)
- Advantest Corporation
- Beacon Analytics
- Fortive Corporation
- National Instruments Corporation
- Rohde & Schwarz GmbH & Co. KG
- Teradyne, Inc.
- Viavi Solutions, Inc.
- VX Instruments GmbH
- Yokogawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/jc02wt
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