Portland,OR, Nov. 08, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global automatic test equipment market generated $6.43 billion in 2020, and is expected to reach $9.51 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030.
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Rise in penetration of 5G and internet of things, surge in need for advanced semiconductor components in consumer electronics, and increase in demand for SoCs in computing and AI-powered applications have boosted the growth of the global automatic test equipment market. However, high initial and maintenance costs hinder the market growth. On the contrary, rise in government initiatives in the semiconductor industry and increase in adoption of energy-efficient integrated circuits solutions are expected to open new opportunities for the market players in the future.
Covid-19 Scenario:
- The Covid-19 pandemic severely affected the global economy due to strict government regulations across the globe.
- The halt in construction of commercial and residential places and lack of workforce hampered the demand for automatic test equipment.
- However, increase in digital infrastructure solutions across the consumer electronics and aerospace sector is expected to boost the market growth.
The report segments the global automatic test equipment market on the basis of type, component, industry vertical, and region.
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Based on type, the memory segment held the largest share in 2020, accounting for nearly one-third of the market. However, the digital segment is projected to register the highest CAGR of 5.8% during the forecast period.
On the basis of industry vertical, the consumer electronics segment held the largest share in 2020, contributing to nearly one-fourth of the market. However, the healthcare and life science segment is estimated to manifest the highest CAGR of 6.7% from 2021 to 2030.
The global automatic test equipment market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for more than one-third of the market. However, Asia-Pacific is anticipated to portray the highest CAGR of 6.7% during the forecast period.
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The global automatic test equipment market report includes an in-depth analysis of the prime market players such as Cal-Bay Systems, Inc. (Averna), Advantest Corporation, LTX-Credence (Cohu, Inc.), Chroma ATE Inc., National Instruments Corp., Marvin Test Solution, Inc., Shinbashi Inc., Roos Instruments, Inc., SPEA S.p.A., and Teradyne Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
