iCrowdNewswire Dec 31, 2020 2:00 AM ET
Global Automated Test Equipment Market – Overview
According to Market Research Future (MRFR), the global Automated Test Equipment Market is forecasted to grow at 3.5% CAGR during the assessment period (2016 – 2022). The spurting rise in semiconductors and consumer electronics market acts as a key driving force. The global automated test equipment is growing rapidly. Market growth attributes to the demand for time and cost-effective manufacturing techniques in the consumer electronics sector and raising complexities in the development of electronic devices. Besides, the rising penetration of automation and increased budgets in the defense sector substantiate the market demand.
Advancements in the automation and Internet of Things (IoT) devices foster the growth of the market. Besides, the rising demand for higher energy saving and the low operational cost boost the market growth. The growing per capita income is undoubtedly a key force increasing the market size, boosting the buying capability of consumers. Furthermore, the exceeding uptake of automated products drives market growth.
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On the other hand, technical limitations and dynamic changes in the automation technology and high competition among the industrial manufacturers are the major factors predicted to impede the market growth. Also, compliance regulations and standards pose challenges to market growth. Nevertheless, substantial R&D investments and the rising prominence of connectivity solutions would support the market growth throughout the review period.
Global Automated Test Equipment Market – Segmentation
The report is segmented into four dynamics;
By Type : Memory ATE, Non-Memory ATE, Discreet ATE, and others.
By Component : Industrial PC, Mass Interconnect, Handlers, Probers, Semiconductors, and others.
By Application : Consumer Electronics, Automotive, Aerospace and Defense, Telecommunication, and others.
By Regions : Americas, Europe, APAC, and Rest-of-the-World.
Automated Test Equipment Market – Geographical Analysis
North America dominates the global automated test equipment market. The largest market share attributes to technological advancements and increased adoption of automation across industries. Besides, the rising adoption of automated test equipment in the defense sector creates substantial market demand.
Moreover, augmented demand and the availability of high quality & advances in testing devices increase the automated test equipment market size. The North American automated test equipment market is poised to retain its dominance throughout the review period, reaching USD 1,564.94 MN by 2022.
Europe is another lucrative market for automated test equipment globally. The market is driven by the increasing adoption of automation and smart devices across the industrial sector. Also, the proliferation of smart & connected devices and the Internet acts as a key driving force for the growth of regional growth.
Additionally, spurting growth in consumer electronics, automotive, aerospace & defense, and telecommunication industries stimulates the market growth in the region. Simultaneously, the regulatory mandates introduced, alongside a large untapped consumer base provides impetus to the regional market growth. The European automated test equipment market is poised to witness s substantial growth, registering 3.3% CAGR over the assessment period.
The automated test equipment market witnesses rapid expansion in the Asia Pacific region. Factors such as the wide adoption of connected devices and the presence of sensor manufacturers substantiate the automated test equipment market size. India, South Korea, China, and Japan are the leading markets in the region. The APAC automated test equipment market is expected to grow at 4.3% CAGR, valuating at USD 1,209.31 MN at the end of the review period.
Impact of COVID-19 on the Global Automated Test Equipment Market at: https://www.marketresearchfuture.com/report/covid-19-impact-automated-test-equipment-market
Global Automated Test Equipment Market – Competitive Analysis
Highly competitive, the automated test equipment market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players adopt strategies such as mergers & acquisitions, collaborations, and product/technology development. Substantial investments are transpired to develop products and expand global footprints.
Most of the players adopt organic business strategies, whereas tier I & II companies accentuate the inorganic business strategies to achieve their goals.
Players leading in the market are Cobham Plc (UK), Chroma ATE Inc. (Taiwan), Astronics Test Systems (US), Teradyne Inc. (US), Agilent Technologies Inc. (US), Advantest Corporation (Japan), Roos Instrument Inc. (US), LTX-Credence Corporation (US), National instrument Corporation (US), and Marvin Test Solution Inc. (US), among others.
Industry/ Innovation/ Related News
August 05, 2020 —– Trenton Systems, Inc. (the US), a leading global technology company, announced advances in its rugged workstations powering with Automated Testing Equipment (ATE) for the defense sector. Trenton Systems’ rugged workstations are ideal for ATE systems used by major defense and prime contractors across the nation.
Trenton Systems designs manufacture and integrates customer-driven computing solutions for mission-critical applications in diverse industries. Its portfolio includes rugged servers, workstations, blade servers, storage systems, and others.
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