The global automated test equipment market is
anticipated to grow beyond USD 4.4 billion by 2024. The growing demands for
consumer electronics are projected to drive the global market during the
forecast period (from 2016 to 2024). Moreover, the needs for effective testing
and rising design complexity are also expected to boost the demand during the
next few years. Increased electronic devices in automobile and smartphones
penetration are also said to positively impact the overall market. The
automated test equipment market is categorized as applications, products, and
regions.
The IT &
telecommunication occupied over 50 % of the overall market in 2015 due to
the proliferation of smartphones tablets, computers, etc. in the market along
with the growing importance of effective communication. The automotive sector
is likely to exhibit a considerable growth due to rising integration of
advanced electronic devices in vehicles.
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The products sector of
the automated test equipment market comprises discrete, memory, and non-memory.
The non-memory product sector led the market in 2015 and occupied over
75 % of the total market share. The discrete product sector is generally
developed in-house as companies avoid investing in costly test tools for
low-cost discrete component testing. The sector is anticipated to experience a
huge growth in future.
Geographically, the APAC
market for automated test equipment led the global market in 2015 occupying
over 70 % of the total revenue. The region is further anticipated to
continue dominating the global industry over the forecast period. This can be
attributed to the rapid technological improvements and the presence of several
semiconductor industries in the region. The demands in the European market are
characterized by reducing semiconductor consumption as well as reducing
expenditure levels of the manufacturers. The rest of the world is said to
experience a significant growth over the next few years.
Some of the major
companies operating in the global automated test equipment market include
Advantest Corp.; LTX-Credence Corp.; and Teradyne Inc. The companies are
striving towards cost-effectiveness in the manufacturing process of these devices.
The development of fresh instrumentation and improving test platforms along
with sustaining a close relationship with consumers are projected to be the
major growth strategies.
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