New York, NY -- (SBWIRE) -- 10/25/2017 -- Peripheral component interconnect (PCI) extensions for Instrumentation (PXI) is an open modular standard in the automated test and measurement. It offers high measurement speed, small footprint, and low power consumption compare to traditional test and measurement technique such as rack-and-stack test systems. The various application market of PXI technology include, wireless technology, aerospace, defense and consumer electronics industries.

On the basis of the various end user applications, the global PXI market can be segmented in five different classes namely, wireless communication or RF, aerospace, defense, consumer electronics and other. Wireless communication segment holds the majority of market share and still showing promising growth aspects in coming years. PXI module is very popular in wireless communications technology particularly in PXI-based platforms to assist complex and challenging test requirements for radio frequency (RF) in wireless communication. The massive growth in the field of wireless communication particularly in Asia Pacific region has kept the growth rate of PXI market high over the years.

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PXI testing is more precise and accurate compare to other traditional test and measurement technology. Additionally PXI software and hardware suppliers are also designing their equipments with in-built feasibility for new testing methods which offers easy switching option to engineers. Moreover shifting of traditional box test and measurement technology towards more advanced and accurate technology is driving the global PXI market.

PXI is relatively new test and measurement technology. It requires proper skill and training which is not well known to the older generation of engineers and hence acting as a challenge for the overall adoption of the PXI market. However the effect of this is expected to minimize in upcoming years especially with new generation of engineers with more skill on computer based tools and technique.

Global PXI market is expected to get new growth opportunities from some of the technologically transforming sectors such as aerospace, and aeronautics, defense research and advanced wireless equipment integration in the industrial and consumer electronics industries.

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North America is the largest market of PXI, followed by Europe and Asia Pacific. Asia Pacific is the fasted growing PXI market attributed the growing wireless communication industry and increased defence and aerospace research budget by the government in this region.

Some of the leading companies operating in global PXI market include, ADLINK, Aeroflex, Keysight, LitePoint, ZTEC Instruments, Marvin Test Solutions, Modular Methods, National Instruments, Pickering Interfaces, Teradyne, and VTI Instruments.