Global automated test equipment market is anticipated to amass around $5,058 million by 2026 , according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Ever-expanding range of consumer electronics devices worldwide coupled with growing design complexity will drive the automated test equipment market growth. Demand for automated test equipment has increased significantly over recent years on account of growing requirement for effective testing in electronics and semiconductor industry, and transition to energy efficient ICs.
Based on the findings of the report, factors like technological advancements, modernization of automotive vehicles, development of self-driving cars, and rising demand for wireless technologies are estimated to boost industry growth. Moreover, emergence of new markets, evolving consumer demographics, and commercialization of Internet of Things (IoT) is anticipated to provide impetus to automated test equipment industry in the upcoming years.
In terms of regional contribution, Asia-Pacific accounted for the highest market share in 2017. Technological advancements, well-established semiconductor & consumer electronics industry, and high investment in R&D are the key factors augmenting regional market growth. Moreover, increasing modernization of vehicles, and growth in the global automotive industry will accelerate automated test equipment demand.
Rapid economic growth in countries like India and China will boost product adoption in the region. Expansion of leading market players in these nations to leverage market potential further enhances automated test equipment market share.
Increased penetration of electric vehicles across the region along with rapid development of autonomous vehicles will foster automated test equipment demand over the coming years. Moreover, rising demand for wireless networks coupled with increasing use of connected devices will propel APAC market growth, cites the study.
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The key players operating in the automated test equipment market include National Instruments Corp., Roos Instruments, Inc., Teradyne, Inc., Star Technologies, Inc., LTX-Credence Corp., Aeroflex, Inc., Danaher Corp., Chroma ATE, Inc., Aemulus Holdings, and Marvin Test Solutions, Inc.
These companies are actively launching new products into the market to amplify their global footprint. They are also forming partnerships with other market leaders to innovate and introduce novel products that increasingly meet consumer demand and requirements worldwide. The company profiles of key players are summarized in the report along with recent developments, product benchmarking, business overview, and financials.
The report offers a brief overview of automated test equipment market with respect to Porter’s five forces, industry trends, market forces, ecosystem analysis, competitive ranking analysis, and PEST analysis. It also offers an extensive quantitative and qualitative analysis of the market trends and growth prospects of automated test equipment market between 2018-2026.