Rise in Electronics Industry Drives Automated Test Equipment Market Growth
According to our latest study on “Automated Test Equipment Market Size and Forecast (2020–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Type, Component, and End User,” the automated test equipment market size was valued at US$ 6.1 billion in 2022 and is expected to reach US$ 10.6 billion by 2030. The automated test equipment market is estimated to record a CAGR of 7.2% from 2022 to 2030.
The rise in semiconductor fabrication has spurred the adoption of automation in the manufacturing sector worldwide. The growing use of the Internet among customers is transforming and automating the entire value chain, from software to service to semiconductor devices. The emergence of IoT across the globe increases the adoption of automated test equipment. The industry is expected to play a crucial role in fueling the global automated test equipment market size.
Automated Test Equipment Market – by Region, 2022 and 2030
Automated Test Equipment Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Integrated Circuits (ICs) Testing, Printed Circuit Boards (PCBs) Testing, Hard Disk Drives (HDDs) Testing, and Others), Component (Industrial PCs, Mass Interconnect, and Handler/Prober), and End User (Consumer Electronics, Automotive, Medical, Aerospace & Defense, IT & Telecommunication, and Other Industries)
Automated Test Equipment Market Size Report, Share and Growth Analysis 2030
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Source: The Insight Partners Analysis
The manufacturing sector is witnessing error-free and streamlined procedures using Robotic Process Automation (RPA). Manufacturing companies are replacing the production units from human sources with industry robots for the products to assemble, quality checks, and packaging. The integration of RPA into the manufacturing sector for automatic activities such as preparing bills of materials, data migration, administration and reporting, ERP automation, logistics data automation, customer support, and service desk, and Web-integrated RPA is fueling the automated test equipment market growth. Manufacturing facilities have been incorporating greater levels of automation, owing to which the demand for new technologies is growing rapidly. Consumer electronics, automobiles, healthcare, and defense industries are the most prominent industry verticals that have become productive by integrating automation into the manufacturing assembly lines to streamline operations. These industries are anticipated to drive the demand for automation, thereby propelling the automated test equipment market growth.
The automated test equipment market is segmented on the basis of type, component, end user, and geography. Based on type, the automated test equipment market is divided into integrated circuit (IC) testing, printed circuit board (PCB) testing, hard disk drive testing, and modules and others. Based on components, the automated test equipment market is categorized into industrial PCs, mass interconnects, and handler/prober. Based on end user, the automated test equipment market is divided into integrated consumer electronics, automotive, medical, aerospace & defense, IT & telecommunication, and others. Geographically, the automated test equipment market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
ADVANTEST CORPORATION, Anritsu, Astronics Corporation, Averna, Chroma ATE Inc., EXICON, NATIONAL INSTRUMENTS CORP., SPEA S.p.A, Teradyne Inc., and Test Research, Inc. are among the key automated test equipment market players profiled in the report.
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