New York, US, Nov. 10, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Automated Test Equipment Market, by Component, Type, Application, and Region- Forecast to 2030”, the global market for automated test equipment is anticipated to thrive substantially during the assessment timeframe from 2020 to 2030 at a healthy CAGR of approximately 4.50 % to attain around USD 9.01 Billion by 2030.
Global Automated Test Equipment Market Overview:
As System on Chip (SoC) technology has become more widely adopted, there will be superior demand for consumer electronics. The global automated test equipment market has shown massive development in recent times, given the factors such as the growing use of electronic components in the automotive industry, the widespread use of smartphones, and significant technical advances.
Automated Test Equipment Market Competitive Analysis
The catalog for prominent participants across the global market for automated test equipment includes players such as:
- Advantest Corporation (Japan)
- Chroma ATE Inc. (Taiwan)
- LTX-Credence Corporation (U.S.)
- Cobham Plc (U.K.)
- Roos Instrument Inc. (U.S.)
- Astronics Test Systems (U.S.)
- National Instrument Corporation (U.S.)
- Agilent Technologies Inc. (U.S.)
- Marvin Test Solution Inc. (U.S.)
- Teradyne Inc. (U.S.)
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Automated Test Equipment Market USP Covered
Market Drivers
The global automated test equipment market has shown massive development in the last few years. The main parameter supporting the market's growth is the growing adoption in the automotive and semiconductor industries. Furthermore, the factors such as a substantial rise in the number of linked household appliances and electronics, rising focus by businesses on performance improvement, and end-to-end testing solutions are also predicted to boost the market's growth over the review era. Moreover, the use of advanced technology in semiconductor manufacturing firms to boost dynamic performance, decrease the cost of semiconductor devices, and improve fast response is also anticipated to catalyze market growth over the coming years.
Automated Test Equipment Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 9.01 Billion |
| CAGR during 2020-2030 | 4.50% |
| Key Market Opportunities | One of the primary reasons driving the automated test equipment market is the increasing complexity of design coupled with significant technical breakthroughs such as enhanced Design for Test (DFT) and adaptive testing. |
| Key Market Drivers | The usage of Automated Test Equipment (ATE) in the automotive and semiconductor industries is the primary driver of this expansion |
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Automated Test Equipment Market Restraints
On the other hand, the costs associated with automation testing equipment may restrict the market's growth.
Automated Test Equipment Market Segment Analysis
Among all the products, the non-memory ATE segment will likely secure the top position across the global automated test equipment market over the assessment timeframe. The segment's growth is credited mainly to the recent innovations in IoT devices and autonomous vehicles. Furthermore, the substantial progress in the defense and aerospace sectors is also anticipated to boost the segment's growth over the assessment timeframe. Organizations worldwide are emphasizing boosting customer satisfaction by making sure faster time-to-market coupled with low testing costs and superior product quality, which catalyzes the market's growth over the coming years.
Among all the verticals, the IT and telecommunications ATE segment is anticipated to hold the top position across the global market for automated test equipment over the coming years. the growing application of automatic test equipment in the manufacturing and assembly market is anticipated to boost the demand for this equipment. The segment's growth is primarily attributed to the growing ST production, complexity, and performance level of semiconductor devices utilized in electronic products coupled with the development in semiconductor device technology. Moreover, the rising pricing pressure among semiconductor manufacturers has encouraged suppliers to leverage the use of capital equipment across multiple devices. In addition, the growing application in the semiconductor assembly and manufacturing industry is also predicted to catalyze the segment's growth over the coming years.
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Automated Test Equipment Market Regional Analysis
The global automated test equipment market is analyzed across five major regions: South America, Asia-Pacific, Europe, North America, and the middle east & Africa.
The MRFR analysis reports suggest that the Asia-Pacific region secured the top position across the global market for automated test equipment in 2020, contributing to nearly 75% of the net market share. The significant presence of semiconductor companies across the region is considered the main parameter is supporting regional market growth. Taiwan and China are likely to have the most considerable contribution to the revenue in the region overall. Several upcoming technologies, like design standards, fine-pitch probe cards, adaptive testing, quicker mixed-signal testers, improved Design-for-Test (DFT), and others, are anticipated to play a crucial part in the growth of the regional market over the coming years. the increase in government efforts by countries such as Thailand, Singapore, Malaysia, Taiwan, Indonesia, and China to generate refined production processes is also likely to take part in the development, as in the launch of latest technologies.
The North American regional market for automated test equipment is anticipated to record substantial growth over the assessment timeframe. The rising utilization of automated test equipment in the aerospace and military industries is considered the main parameter that is boosting the growth of the regional market.
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COVID-19 Impact
The world has witnessed several significant changes in recent times, given the rise of the global health crisis in the form of COVID-19, which ended up affecting the operations across the majority of industry areas across the globe. Given the travel restrictions and social distancing norms imposed by governments across the globe, the majority of the industry sectors, including the automated test equipment market, faced significant disruptions in the supply chain networks for a while. On the other hand, the automated test equipment market managed to survive the harshness of the pandemic, given mainly to the needs of the IT & Telecom sector, which was mainly strong during the second quarter of the year. The growing trend of remote work has caused rising demand for connection and information technology goods, boosting the requirement for automated test gear.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
