ALBANY, N.Y., April 19, 2022 (GLOBE NEWSWIRE) -- The global automated test equipment (ATE) market stood at US$ 5.91 Bn in 2020. The global market is likely to develop at a CAGR of 3.9% during the forecast period, from 2021 to 2031.The global automated test equipment (ATE) market is likely to cross the valuation of US$ 9.02 Bn by 2031. The global automated test equipment (ATE) market is likely to be driven by rising demand for automated test equipment (ATE) for data collecting and testing of various electronics in different industries. ATEs are widely used in industries such as automotive, consumer electronics, aerospace & defense, and industrial automation, as they conduct stress testing with lowest possible human intervention. For high-volume testing, ATE is a cost-effective option.
A key factor likely to drive the expansion of the global automated test equipment (ATE) market is the booming consumer electronics and semiconductor industries. Automated test equipment is a costly instrument, but makers are developing a low-cost alternative that can be utilized to test large volumes of samples with little human interaction. As a result, growing tendencies toward low-cost consumer products is expected to drive the global automated test equipment (ATE) market in the forthcoming years.
The Asia Pacific automated test equipment (ATE) market is estimated to account for a major share of the market during the forecast period. This is attributable to the existence of several important industry participants as well as the region's rapid technical improvements. Due to the growing utilization of smart electronic devices and the prominence of IoT ecosystems in households &workplaces, countries such as Taiwan, Japan, China, and South Korea are presenting attractive prospects for manufacturers. The Asia Pacific market is growing as a result of growing government efforts and industrial automation.
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Key Findings of Market Report
- The aerospace &defense sector is a major end-user of automated test equipment. It provides mission-critical, life-saving, and safety-critical electronics for military ships, aircraft, and ground vehicles, as well as armaments, wireless communication systems, missile launch, and radar.
- Continued use of electric and autonomous vehicles is likely to stimulate the demand for automated test equipment, as it is required to evaluate the performance of different integrated circuits utilized in navigation control systems, ADAS, brake units, infotainment systems, active alignment systems, batteries, and many other elements utilized in electric vehicles
- A key reason likely to drive the need of automated test equipment is the increase in demand for low-cost consumer items, which has been accompanied by a steady growth in its usage in the semiconductor business
- Rise in semiconductor device manufacturing, intricacy, and desired level of performance of semiconductors utilized in consumer electronic items is likely to drive the demand in the market. Introduction of next-generation devices as well as technologies linked with these devices is likely to increase the demand for automated test equipment.
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Global Automated Test Equipment (ATE) Market: Growth Drivers
- Demand for automated test equipment is likely to rise, as its use is increasing significantly in the semiconductor assembly and production industries
- Technological advancements and increasing R&D spending in the creation of better automated test equipment are also likely to drive the demand in the global market in the years to come
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Global Automated Test Equipment (ATE)Market: Key Competitors
- Marvin Test Solutions, Inc.
- Theta Measurement & Control Solutions Pvt Ltd
- Virginia Panel Corporation
- Testamatic Systems Pvt. Ltd
- Chroma ATE Inc.
- SPEA S.p.A
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Global Automated Test Equipment (ATE)Market: Segmentation
Type
- Memory ATE
- Non-memory ATE
- Discrete ATE Service
End User
- Automotive and Transportation
- Consumer Electronics
- Aerospace & Defense
- IT and Telecommunication
- Healthcare
- Others
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