The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Automated Test Equipment Market Report. The growth sectors of the Automated Test Equipment Market Report are identified with precision for a better growth perspective.
Automated test equipment (ATE) is used for testing electronic systems and also finds application in the detection of faults. It is likely to witness high demand from end-user industries over the next couple of years. The global automated test equipment market, as per Market Research Future (MRFR), is likely to register a steady CAGR of 3.5% across the forecast period 2016 to 2022. The report unravels that the market is estimated to value at around USD 4422 Mn by 2022.
Increasing complexities in the architecture of consumer electronics resonate strong potential for the expansion of the automates test equipment market. It is poised to benefit the future trajectory of the market in the upcoming years. In addition, the rising demand for consumer electronics is also poised to boost the growth rate of the market over the next couple of years. The product has developed an application in the automotive industry. Rising demand for electric cars is expected to generate further demand for ATEs across the industry in the years to come.
These products also help in minimizing losses by controlling the production of faulty devices. This, in turn, is expected to influence the automated test equipment market positively in the nearby future. However, the dynamic changes in technologies are likely to check the growth of the automated test equipment market over the next few years.
By component, the global automated test equipment market has been segmented into industrial PC, handlers, probers, mass interconnect, and semiconductors.
On the basis of application, the automated test equipment market has been segmented into consumer electronics, aerospace and defense, automotive, and telecommunication. Among these, the consumer electronics segment is projected to lead the growth of the market over the next couple of years. It is anticipated to value at over 1600 Mn by 2022.
Based on type, the global automated test equipment market has been segmented into non memory ATE, memory ATE, and discreet ATE. The discreet ATE segment is anticipated to account for the major share of the global market in the years to come. It is estimated to register 5% CAGR across the forecast period.
ATE Inc. (Taiwan), Astronics Test Systems (U.S.), Cobham Plc (U.K.), Agilent Technologies Inc. (U.S.), Advantest Corporation (Japan), Teradyne Inc. (U.S.), LTX-Credence Corporation (U.S.), National instrument Corporation (U.S.), Roos Instrument Inc. (U.S.), and Marvin Test Solution Inc. (U.S.) are some of the prominent players of the automated test equipment market. Technological advancements being introduced by these players are anticipated to spur competitiveness in the global market place. Increasing investments in the expansion of regional base of the players are expected to impact the landscape of the automated test equipment market favorably over the next couple of years. The growth approaches anticipated to be witnessed in the market in the foreseeable future are product development, mergers & acquisitions, technological developments, collaborations, partnerships, etc.
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