The global automated test equipment market size is expected to hit US$ 9.58 billion by 2030 and is expanding growth at a noteworthy CAGR of 3.5% from 2021 to 2030.
Seoul, Oct. 19, 2021 (GLOBE NEWSWIRE) -- According to Precedence Research, the global automated test equipment market size was valued at US$ 7.1 billion in 2021. Automated test equipment is the equipment that is employed to check for the defects in the devices under test. The adoption of the automated test equipment will play a crucial role in reducing the cost incurred for manufacturing devices and eliminate the defective devices. This will prevent any defective devices from entering into the market. These equipment helps in reducing the manufacturing cost and finds their application in diverse sectors such as IT and telecommunications, automotive, defense, consumer electronics, healthcare and others.
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Crucial factors accountable for market growth are:
The rapid growth of the automotive and the semiconductor industry.
Increasing demand for the consumer electronics products.
The rise in demand for complex electronic devices that requires effective testing.
The rising telecom industry positively impacts the market growth.
The favorable Government regulations, that promotes the development of semiconductor industry.
The rise in demand for high quality electronics equipment’s in the defense and aerospace sector.
Scope of the Automated Test Equipment Market Report
Market Size in 2021
US$ 7.1 billion
Growth Rate from 2021 to 2030
CAGR of 3.5%
2021 to 2030
Fastest Growing Market
Product, End User, Region
North America is also expected to witness a remarkable growth in the upcoming years owing to the increase in adoption of automated test equipment in the aerospace and defense sector. Asia Pacific region is estimated to dominate the market with the contribution of more than 76% of revenue share in 2021 owing to the presence of major market players in the region. China and Taiwan in this region will dominate the market share.
Asia Pacific region is expected to grow at highest CAGR contributing more than 76% of revenue share in 2021 owing to the presence of major market players in the region.
The non-memory ATE segment holds significant market share in the automated test equipment market contributing more than 66.5% of the revenue share.
The rapid growth of the semiconductor and the automotive sector fosters the market growth of the automated test equipment market.
By Geography, North America is expected to hold a significant share in the Automated Test Equipment Market owing to the increase in adoption of automated test equipment’s in the aerospace and defense sector.
Driver - The increase in demand for the high quality electronics equipment in diverse industry verticals such as IT and telecommunications, defense, consumer electronics, automotive, healthcare and others is expected to drive the market growth. Also, with the favorable Government policies for the development of semiconductor fabrication plants that will boost the economy is an attribute that is anticipated to fuel the growth of the automated test equipment market. For instances, On 27th April 2021, Marvin Test Solutions, Inc. a provider of innovative test solutions for military, aerospace, and manufacturing organizations announced that, its product TS-900e-5G production test system for 5G mm Wave semiconductor devices is now in use by multiple leading semiconductor manufacturers.
Restraint - The major restraining factor that will negatively impact the growth of the Automated Test Equipment Market includes the high cost involved in the development of the automated test equipment and the presence of high competition among the major market players.
Opportunity - The Government across the world is investing heavily for the development of semiconductor industry as this will help in the significant growth of the economy. This development of semiconductor industry will find huge opportunities for the growth of the automated test equipment market.
Challenges - For conducting the research and developmental activities in the field of automated test equipment’s high expenditure is required ad this attribute is estimated to pose a major challenge in the growth of the automated test equipment market.
On 30th September, 2021 Advantest Corporation a Leading semiconductor test equipment supplier has announced a high frequency resolution option for its TAS7400TS terahertz optical sampling analysis system. It comprises of features such as excellent cost performance and ease of operation, a groundbreaking measurement method for high-frequency characteristic evaluation of radio wave absorbers and base materials, which are indispensable for Beyond 5G / 6G next-generation communications technology and for the millimeter-wave radar technology used in ADAS.
On 12th January 2021, Teradyne Inc. a leading supplier of automated test solutions announced that the company’s UltraFLEX test platform has enabled AI chip company Syntiant Corp. to successfully ship millions of its microwatt-power, deep learning Neural Decision Processors™ to customers worldwide.
On 24th August 2021, Astronics Corporation a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced a cooperative agreement with Aerotec Concept of Toulouse, France. This cooperative agreement will provide Astronics the medium to expand its comprehensive design, development, analysis, substantiation, certification, kitting and manufacturing capabilities further into the aerospace market in Europe.
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