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 Trends. The growth sectors of the Automated Test Equipment Market Trends are identified with precision for a better growth perspective.
As per Market Research Future (MRFR)’s study, the global Automated Test Equipment (ATE) market is set to mark a steady CAGR of 3.5% during the forecast period 2016 to 2022. Although the market is entering a phase of maturity, the growth of the market is led by its rising demand in the automotive industry. Furthermore, the excessive demand expected to be generated from the thriving semiconductors industry is another major factor responsible for the growth of the Automated Test Equipment (ATE) market in the foreseeable future.
ATE is a cost-efficient solution for testing and diagnosing sophisticated electronic parts. The boom witnessed in the electronics industry is prognosticated to favor the growth of the Automated Test Equipment (ATE) market over the assessment period.
The adoption of novel technologies in the defense industry has generated demand for Automated Test Equipment (ATE) owing to an increase in complex technologies. ATE facilitates the testing of complicated technologies deployed which has expanded its application in the industry. This, in turn, is projected to propel the expansion of the Automated Test Equipment (ATE) market through the review period.
The growth of the connected devices has led to an expansion of the market globally. However, constant changes in technologies and technical limitation such as intense competition among the manufacturers are predicted to hold the development of the Automated Test Equipment (ATE) market in the foreseeable future.
By component, the Automated Test Equipment (ATE) market has been segmented into industrial PC, mass interconnect, handlers, probers, and semiconductor.
By application, the Automated Test Equipment (ATE) market is segmented into consumer electronics, automotive, aerospace, and defense, telecommunication.
By type, the Automated Test Equipment (ATE) market has been segmented into memory ATE, non-memory ATE, discreet ATE.
The global Automated Test Equipment (ATE) market, by region, has been segmented into North America, Europe, Asia, and the Rest of the World. At present, North America is the largest market for Automated Test Equipment (ATE) and is expected to grow from USD 1,272.80 Mn in 2016 to USD 1,564.94 Mn towards 2022-end. The major factor responsible for driving the growth of the market in this region is the huge demand from the defense sector. Additionally, the presence of an established and technologically advanced aerospace industry is also likely to favor the expansion of the Automated Test Equipment (ATE) market in the region. The U.S. is expected to accrue a substantial amount of revenue through the projection period.
Europe is an important revenue pocket and is estimated to expand at a CAGR of 3.3% over 2022. Meanwhile, Asia Pacific resonates promising growth opportunities and is forecasted to strike a CAGR of 4.3%. The valuation of the Automated Test Equipment (ATE) market in the region is anticipated to reach USD 1,209.31 Mn by the end of 2022 from USD 941.06 Mn in 2016. The growth of the semiconductors industry is poised to augment the Automated Test Equipment (ATE) market in the region.
Some of the key players profiled in this MRFR’s report are Chroma ATE Inc. (Taiwan), Astronics Test Systems (U.S.), Teradyne Inc. (U.S.), LTX-Credence Corporation (U.S.), National Instrument Corporation (U.S.), Marvin Test Solution Inc. (U.S.), Agilent Technologies Inc. (U.S.), Advantest Corporation (Japan), Roos Instrument Inc. (U.S.), and Cobham Plc (U.K.).
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