The Automated Test Equipment Market flourishes with digital multimeters and LCR meters, propelled by robust demand in the automotive and semiconductor sectors.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 29, 2023 /EINPresswire.com/ -- The automated test equipment market is anticipated to thrive at a CAGR of 9.8% between 2023 and 2033. The market is anticipated to cross a market share of US$ 23.76 billion by 2033 while it is valued at US$ 9.33 billion in 2023.

The growing manufacturing and corporate spaces adopting ioT systems are thriving the demand for automated test equipment. The demand for cost and time-reducing elements in the market is expected to play a vital role in the growth of the automated test equipment market.

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Advanced machinery that works on high-speed networks and is autonomous is also adopting faster testing measures such as automated test equipment. The growth is attributed to the expanding component markets like cloud computing, AI, and machine learning

The growth of new connected devices along with higher penetration of 5G networks are fueling people to adopt IoT services. Hence, it fuels the demand for automated test equipment.

Advanced device manufacturing units functioning with high-end research have flourished in the automated test equipment market.

Lower cost and time-saving prospects delivered by these ATE units are helping the manufacturing units.

Expanding automotive industry fuels the demand for vehicle testing systems that automate machinery systems. The growth of healthcare wearables has also fueled the demand for ATE units as it freshly trends in the market.

Key Points:

The United States market is attributed to the flourishing industrial growth along with the rapid digitization and addition of IoT devices in the manufacturing hubs. The extended research and development programs have also fueled the growth of the regional market.

China automated test equipment market is also a crucial market. The regional growth is attributed to the higher sales of connected devices across the verticals such as healthcare, automotive, and education.

Europe with hyper-digitized cities is adopting IoT and implementing it in almost every sector which fuels the demand for automated test equipment for better deployment.

The linear and discrete segment is likely to thrive in the type of category due to faster and better testing. It is expected to hold a value of US$ 2.5 billion by 2032.

The ICT industry segment tops the application category it holds a 25% share of the global market in 2023. The growth of this is fueled by the extra consumption and higher penetration of computing devices.

Competitive Landscape:

The key competitors focus on building reliable, faster, cost-reducing technology for the end-users. Key competitors also merge, acquire, and partner with other companies to increase the network range, connectivity, supply chain, and distribution channel.

Leading Key Players:

Teradyne
National Instruments
Chroma ATE
Astronics Corporation
Star Technologies
Roos Instruments
Marvin Test Solutions
Cohu
Advantest Corporation
OMRON Corporation

Recent Market Developments

Advantest Corporation has added a new E5620 DR-SEM for the review and classification of ultra-small photomask defects. The product comes with high accuracy, high-throughput defect sensing, etc.

OMRON Corporation has introduced its IC test system and handler, semiconductor wafer test system, and general and in-circuit tester.

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Automated Test Equipment Market Segmentation:

By Type:

Memory IC Test System
Linear & Discrete Test System
System-on-Chip (SoC) Test System
Others

By Application:

Consumer Electronics
Automotive
Aerospace & Defense
ICT

By Region:

North America
Latin America
Europe
Asia Pacific (APAC)
The Middle East & Africa (MEA)

Authored By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Have a Look at the Related Reports of the Testing Equipment Domain:

Battery Testing Equipment Market Analysis: The market value of the global battery testing market is anticipated to reach a high of US$ 770 million by the year 2032.

Material Tester Market Overview: The overall demand for material testers is slated to expand at a steady CAGR of 5.5% between 2023 and 2033, totaling over US$ 1366.5 million in 2033.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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