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Boundary Scan Hardware Market will Exhibit a Steady Growth of US$ 1,500 Mn by 2026
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Global Boundary Scan Hardware Market: Overview
The electronics market is ever changing and rapidly developing. There is also an increase in the number of electronic goods used by the people. Boundary scan solutions are essential for reducing the development and production costs of products. Additionally, this technology can be applied to the whole product lifecycle, including product design, prototype debugging, production, and field service. The increasing complexity and functionality of printed circuit boards have created potential opportunities for the growth of the boundary scan hardware market. On a macro-economic level, the growth of boundary scan hardware is driven by growing investments in the Internet of Things (IoT). The market is experiencing surging demand for new and advanced testing and measuring equipment. Companies around the world are continuously focusing on developing smaller electronic devices with higher functionality, and due to this, the demand for new and advanced testing and measuring equipment is constantly increasing. Boundary scan hardware is considered to be an efficient as well as a cost saving technique of testing that can be used in advanced product lines.
Global Boundary Scan Hardware Market: Regional Analysis
The growth of boundary scan hardware is expected to be higher in the regions that have a strong hold on the electronics and automotive markets. According to the market forecast, North America holds the highest market share in the global boundary scan hardware market with a market value of over US$ 400 Mn by the end of 2026. However, the regions that are currently witnessing mushrooming industrial growth are likely to hold better prospects for the growth of the boundary scan hardware market in the years ahead. The research reveals that SEA and the rest of APAC is expected to witness a stellar growth rate of 8.9% during the forecast period. This is a result of rapid growth in the region’s electronics and automotive markets.
Global Boundary Scan Hardware Market: Competitive Landscape
The global boundary scan hardware market is dominated by a few leading companies. According to the market analysis, companies such as GOEPEL Electronic, JTAG Technologies, XJTAG Limited and Corelis hold almost 80%-85% of the global market share.
Manufacturers operating in the global market are responsible for the availability of a large share of boundary scan hardware. These are the Tier 1 companies that are the largest and most experienced in the industry, and have a wide product portfolio and significant regional coverage across the globe. These companies are putting in constant efforts to continue their domination in the global market. However, the growth prospects and emerging consumer needs may entice new players to enter this market.
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