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Automated Test Equipment Market size exceeded USD 8.5 billion in 2022 and is expected to register over 10% CAGR between 2023 and 2032. This market growth can be attributed to the growing sales of electric vehicles around the globe. Rising government initiatives across the globe to promote the adoption of electric vehicles are also major factors contributing to market growth.
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The high purchase cost of automated testing equipment is limiting product uptake. Growing maintenance concerns including repairs, calibration issues, and equipment misconfigurations are also hampering market growth. Equipment manufacturers are investing heavily in R&D to develop modern automated test equipment at reduced costs.
Report Attribute | Details |
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Base Year: | 2022 |
Automated Test Equipment Market Size in 2022: | USD 8.5 billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 10% |
2032 Value Projection: | USD 20 billion |
Historical Data for: | 2018 to 2022 |
No. of Pages: | 150 |
Tables, Charts & Figures: | 215 |
Segments covered: | Type, Application |
Growth Drivers: |
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Pitfalls & Challenges: |
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Consumer electronics will be in high demand as System on Chip (SoC) technology becomes more widely used. The innovations in the IoT and autonomous vehicle industries are propelling segment growth. Additionally, it is projected that significant development in the aerospace and military industries will accelerate segment expansion during the assessment period. Worldwide businesses place a strong emphasis on increasing customer satisfaction by ensuring shorter time-to-market, reducing testing expenses, and offering higher product quality, which will fuel automated test equipment market expansion in the coming years.
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Automated test equipment market from aerospace & defense industry accounted for business share of over 7.5% in 2022 and is expected to surpass USD 1 billion by 2032. Due to rising government investments in numerous locations over the past three decades, the aerospace & military industry has seen an increase in the adoption of complex technologies, leading to advancements at a quick rate and innovations. This will result in the increasing effectiveness of the currently available instruments and expansion of the new operational scope that are beneficial for various duties. Since any flaw can cause serious mishaps, the electronic equipment utilized in the aerospace & military industry must be of the highest caliber. As automated test equipment is required to thoroughly inspect the production of electronics equipment for the aviation & defense industry, the market will rise throughout the forecast period.
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Asia Pacific region holds over 70% of business share in automated test equipment market and is expected to generate a revenue of over USD 18 billion by 2032. Due to the considerable presence of the semiconductor industry, the area is predicted to dominate the business during forecast period. China and Taiwan are anticipated to account for the largest regional revenue share. Future innovations that are anticipated to drastically alter market dynamics include adaptive testing, enhanced Design-For-Test (DFT), quicker mixed-signal testers, fine-pitch probe cards, and design standards. Increasing government initiatives in nations including China, Indonesia, Malaysia, Singapore, Thailand, and Taiwan to develop innovative manufacturing techniques will also boost regional market statistics.
Several leading firms operating in the automated test equipment business scenario include :
These companies are focusing on developing innovative solutions to achieve a viable edge in the industry. For instance, in October 2022, automated test solutions provider, Averna partnered with Physik Instrument, a leading manufacturer of high-precision motion technology, to address the rising demand for flexible & scalable test equipment.
The COVID-19 pandemic had a massive impact on global healthcare, social life, and economics. Technical improvements played a vital role in enabling ubiquitous & accessible digital health services during the pandemic and in the post-pandemic scenario. 5G-enabled e-health solutions and the Internet of Health Things (loHT) applications targeted at connecting patients to healthcare facilities along with the escalating preference for telemedicine have favorably affected industry development.
The automated test equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
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By Type
By Application
The above information has been provided for the following regions and countries: