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Definition: PXI is one of several modular electronic instrumentation platforms in current use. These platforms are used as a basis for building electronic test equipment or automation systems, such as might be used in a mobile phone manufacturing test environment.
Based on industry-standard computer buses and loaded up with extra features to facilitate electronic test, they permit a great deal of flexibility in building the exact test equipment or automation system required.
Often they are fitted with custom software to manage the system.
Source: Wikipedia (http://en.wikipedia.org/wiki/PXI)