Automated Test Equipment Market Growth
The global automated test equipment as per Market Research Future (MRFR) is anticipated to garner a CAGR of 3.5% over the assessment period between 2016 and 2023.
The global market is expected to grow during the period due to a number of key factors. The increasing mobility of devices across companies in semiconductor manufacturing has boosted the demand for the global market. The fast-paced penetration of smartphones across the world and the booming electronic content in the automotive industry are some of the other likely factors that are anticipated to boost the global automated test equipment market in the coming years. Add to this, an upsurge in demand for mobile automated solutions and the booming popularity of wireless networks in a number of developed as well as developing regions are forecasted to stimulate a positive market growth of automated test equipment. It is also worth noting that the rising complexities in designs alongside the latest introduction of technologically advanced innovations is strikingly driving the global automated test equipment market towards a positive side.
Amidst the positives, the obsolescence of technology and other technical limitations are most likely to dampen the overall projected growth of the global market during the forecast period.
Market Segmentation
The global automated test equipment market is segmented in terms of application, component, and type.
By component, the market segments into probers, mass interconnect, industrial PC, semiconductors, and handlers.
By application, the market includes aerospace and defense, consumer electronics, telecommunications, automotive, and others. Among these segments, the telecommunication industry has the highest share in the global market. The segment is further anticipated to grow at a notable pace to remain at the top of the automated test equipment market standings.
By type, the market divides into non-memory automated test equipment, memory automated test equipment, and discreet automated test equipment. Herein, the non-memory automated test equipment holds the highest market share portion.
Detailed Regional Analysis
The market for automated test equipments is segregated into Europe, North America, Asia Pacific, and Rest of the World (ROW). The North American region is directing the Automated Test Equipment Market on a global scale with the biggest market share in the region, and consequently accounting for $ 1,272.80 million in the year 2016 and is projected to develop over $ 1,564.94 million by the year 2022. The Automated Test Equipment sector in the Asia-Pacific region is expected to develop at a CAGR of 4.3 per cent from $ 941.06 million in the year 2016 to a value of $1,209.31 million by the year 2022. The European market for Automated Test Equipment Market on global scale is estimated to develop at a 3.3 per cent CAGR from 2016 to 2022.
Global Competitive Analysis
The rewarding scenarios accessible in this market are being utilized by candidates who are trying to extend their market coverage by centered development which will prove to be perfect for the growth of this industry sector. The companies in this industry space are connecting their resources to achieve their vision for achieving a considerable portion of the business as early as possible. The products that are on offer presently vary greatly due to the reason of the strong pace of technological discoveries. This has raised the chances for the approaching growth period. This consequence is productive for firms so that they may maintain fiscal liquidity to take the best conclusions in terms of strategy execution and planning. The main players in market for Automated Test Equipment include Cobham Plc (U.K.), Astronics Test Systems (U.S.), Chroma ATE Inc. (Taiwan), Advantest Corporation (Japan), Agilent Technologies Inc. (U.S.) and Teradyne Inc. (U.S.).
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