The automated test equipment witnesses continual growth. The need for time and cost-effective manufacturing techniques to respond to complexities arising during the development of electronic devices drives the market growth. Besides, the rising penetration of automation and smart connected devices across the industries pushes the market further. Augmenting demand for efficient power management increased defense budgets in major countries across the globe substantiate the market demand. According to the latest research report, the market for Automated Test Equipment (ATE) market size is projected to expand at a compound annual growth rate (CAGR) of 3.5 percent (2016-2022).
With the rising uses of IIoT and smart and connected devices, the market is projected to garner significant traction across the globe. In this regard, Market Research Future (MRFR) asserts that the global automated test equipment market is forecasted to garner exponential gains by 2027, growing at a phenomenal CAGR during the assessment period (2020 – 2027). The spurring rise in semiconductors and consumer electronics sectors are additional key driving forces behind the market growth.
Additionally, advancements in automation and related technologies foster the growth of the market. The rising demand for higher energy savings and the low operational cost boost the growth of the market. Continual economic growth across the globe defines the growing market landscape, boosting consumer purchasing power. Furthermore, the extensive uptake of automated products drives market growth.
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On the flip side, technical limitations and dynamic changes in automation technology are the major factors impeding the growth of the market. Also, high competition among the industrial manufacturers, alongside the compliance regulations and standards, poses challenges to market growth. However, substantial RD investments and the rising prominence of connectivity solutions would support the market growth throughout the review period.
Automated Test Equipment Market – Segments
The report is segmented into types, components, applications, and regions. The type segment is sub-segmented into memory ATE, non-memory ATE, discreet ATE, and others. The component segment is sub-segmented into industrial PC, mass interconnect, handlers, probers, semiconductors, and others. The application segment is sub-segmented into automotive, consumer electronics, aerospace and defense, telecommunication, and others. The region segment is sub-segmented into Americas, Europe, APAC, and Rest-of-the-World.
Automated Test Equipment Market – Regional Analysis
North America leads the global automated test equipment market, witnessing vast technological advancements and widening automation across industries. Besides, the market share is growing due to the rising adoption of automated test equipment in the defense sector. Augmented demand and the availability of high-quality advanced testing devices increase the market size. The automated test equipment market in North America is poised to retain its dominance throughout the review period.
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Europe stands second in the global automated test equipment market. The market growth is driven by the increasing adoption of smart devices and automation across the industrial sector.
Additionally, the growing use of smart connected devices and the Internet is a major tailwind fostering the regional market growth.
Spurring rise growth in consumer electronics, automotive, aerospace defense, and telecommunication industries stimulate the growth f the market. Regulatory mandates and a large untapped consumer base in the region provide impetus to the regional market growth. Europe is poised to witness substantial growth in the automated test equipment market over the assessment period.
The Asia Pacific automated test equipment market witnesses rapid expansion due to the wide adoption of connected devices in industries. The strong presence of sensor manufacturers substantiates the market value. Japan, China, South Korea, and India are the leading automated test equipment markets in the region. The Asia Pacific automated test equipment market is expected to grow at an impressive CAGR during the review period.
Automated Test Equipment Market – Competitive Landscape
The market witnesses several strategic initiatives, such as mergers acquisitions, collaboration, expansion, and product launches. Leading industry players also make strategic investments to drive research and development activities and their expansion plans.
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Automated Test Equipment Market Key Players:
- Chroma ATE Inc. (Taiwan)
- Cobham Plc (U.K.)
- Astronics Test Systems (U.S.)
- Agilent Technologies Inc. (U.S.)
- Teradyne Inc. (U.S.)
- Advantest Corporation (Japan)
- LTX-Credence Corporation (U.S.)
- Roos Instrument Inc. (U.S.)
- National instrument Corporation (U.S.)
- Marvin Test Solution Inc. (U.S.)
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