With a projected increase from USD 7.0 billion in 2022 to roughly USD 8.8 billion by 2027, exhibiting a compound annual growth rate (CAGR) of 4.7% throughout this forecast period, the global Automated Test Equipment (ATE) Market is anticipated to enjoy considerable expansion.
The rising need for ATE across a variety of industries, such as semiconductor fabrication, automotive and transportation, healthcare, aerospace and defence, and consumer electronics, is supporting this growth trajectory. The adoption of automated test equipment is being driven by the requirement for accurate and effective testing of electronic components and systems as technical improvements in these industries pick up speed. Geographically, it is projected that this expansion will be substantial in North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW), which will together shape the automated test equipment market's landscape globally.
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Market dynamics have been considerably influenced by the COVID-19 epidemic, and disruptions are anticipated to last until global supply chains stabilise. The latter half of 2020 saw a supply shortfall in the semiconductor sector, which is crucial for automated test equipment. This was caused by the closure of manufacturing facilities and reduced transportation activities. Though optimistic, post-pandemic expectations anticipate a quick recovery due to increased semiconductor manufacture activity. The market for automated test equipment is predicted to rebound and resume growth trends as production processes pick up steam and adjust to the new normal.
Printed Circuit Board Testing to witness the highest CAGR during the forecast period.
The highest Compound Annual Growth Rate (CAGR) is anticipated for Printed Circuit Board (PCB) testing during the projection period. PCBs are essential parts of electronic circuits, and as a result of the widespread usage of surface-mount components and the addition of additional layers, their complexity has substantially increased. PCBs are used in a variety of industries, and their essential function in line with project criteria is a prerequisite for all PCBs. Electronic circuits today contain a large number of parts, welds, and interconnects thanks to the ongoing development of semiconductor fabrication technology. The demand for PCBs is anticipated to soar as complexity keeps increasing, driving them to achieve the greatest CAGR among the various segments within the automated test equipment market over the forecast period.
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Industrial PCs is expected to have the largest market size during the forecast period
Within the automated test equipment (ATE) market, industrial PCs are predicted to hold the biggest market share over the projection period. As controllers for ATE systems, they play a crucial role and dominate the market. These PCs are enclosed in tough rack mounting enclosures that are designed specifically for robust operation in demanding industrial environments, reducing the need for extensive wiring. Industrial PCs display excellent resistance to elements like vibration, noise, temperature changes, and dust thanks to their capacity to regulate machinery and diverse electrical systems. They are a crucial and significant part of the ATE market because of their endurance and important role.
Semiconductor Fabrication to have the largest market size during the forecast period.
During the forecast period, the automated test equipment (ATE) market is expected to be dominated by semiconductor fabrication. Front-end semiconductor production facilities, or fabs, are operating at high capacity utilisation rates, frequently exceeding 80% and in some cases reaching levels of 90-100%, as a result of the rising demand for semiconductors. Nevertheless, scaling up capacity utilisation is a time-consuming process due to the complexity of semiconductor manufacture. The importance of this market segment in the expansion and development of the ATE market is highlighted by the semiconductor industry's active focus on increasing fab capacity utilisation to satisfy the soaring demand caused by the current worldwide chip shortage.
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China to grow with the highest CAGR in APAC region during the forecast period
Within the Asia-Pacific (APAC) region, China is anticipated to exhibit the highest Compound Annual Growth Rate (CAGR) during the projection period. China, a well-known global manufacturing hub, is essential to several sectors, including electronics, semiconductors, and the automobile industry. Its strong and quick economic growth places it among the world's fastest-growing economies. Notably, China demonstrated its adaptability throughout the epidemic by creating a variety of essential medical gadgets, demonstrating its capacity to continue production even during trying times and satisfy worldwide demand. As a result of China's expanding consumer market, which rivals that of the US and other Western European countries, there is a greater need for Automated Test Equipment (ATE). This demand is essentially the result of the need for ATE in the nation's design, development, and testing of consumer appliances and other ancillary electronics. The huge growth expected in China further emphasises its influence on the ATE industry in the APAC region.
The report profiles key players in the automated test equipment market and analyzes their market shares. Players profiled in this report are Advantest Corporation (Japan), Teradyne (US), National Instruments (US), Chroma ATE (Taiwan), Astronics Corporation (US), STAr Technologies (Taiwan), Roos Instruments (US), Marvin Test Solutions (US), Cohu (US), and OMRON Corporation (Japan), TESEC Corporation(Japan), Danaher(US), ESPEC North America(US), JTAG Technologies(Netherlands), Vaunix(US), JFW Industries(US), Aemulus(Malaysia), Festo(Germany), Nikon Metrology(Belgium), Carl Zeiss AG (Germany), Viscom AG(Germany), Keysight Technologies(US), Artiflex Engineering(South Africa), Vitrox Corporation(Malaysia), Saki Corporation(Japan), Test Research Inc. (TRI)(Taiwan), ShenZhen J-wide Electronics Equipment Co., Ltd.(China), CHINO(US).
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