Automatic Test Equipment Market size is Expected to Grow $9.52 Billion by 2030 | Growing at a CAGR of 4.2%

Allied Market Research published a report on the Automatic Test Equipment Market by Type, Component, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030.

The global automatic test equipment market size was valued at $6.44 billion in 2020, and is projected to reach $9.52 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030.

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Automatic test equipment, also known as automated test equipment, is a computerized machinery solution that employs test instruments to assess and conduct findings of quality, performance, functionality, and stress tests performed on electronic equipment and systems. Furthermore, automatic test equipment is used to test devices such as printed circuit boards (PCBs), integrated circuits (ICs), and hard disc drives (HDDs).

Semiconductor automatic test system can range from a simple computer-controlled digital multimeter to a complex computer system with dozens of complex test instruments capable of testing and diagnosing or detecting errors in sophisticated electronic packaged parts such as integrated circuits and systems on chips. Moreover, rise in concerns related to error-free electronics application and supply chain across consumer electronics, offering significant growth opportunities for the market in coming years.

Report Overview:
https://www.alliedmarketresearch.com/automatic-test-equipment-market

According to the automatic test equipment market trends, the industrial segment was the highest contributor to the market in 2020. The consumer electronics and information and communication segments collectively accounted for around 46.4% market share in 2020. Surge in adoption of advanced semiconductor technology application across the consumer electronics sector has led to growth of industrial PC segment; thereby, enhancing the automatic test equipment market growth.

Competitive Analysis:
The automatic test equipment industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the global automatic test equipment market include,
⦁ Shinbashi Inc.
⦁ Cal-Bay Systems, Inc. (Averna)
⦁ Advantest Corporation
⦁ Teradyne Inc.
⦁ Chroma ATE Inc.
⦁ National Instruments Corp.
⦁ LTX-Credence (Cohu, Inc.)
⦁ Marvin Test Solutions, Inc.
⦁ Roos Instruments, Inc.
⦁ SPEA S.p.A.

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Top Impacting Factors:
Significant factors that impact growth of the global automatic test equipment market include surge in penetration of 5G and Internet of Things-based applications, coupled with increase in demand for advanced semiconductor components in consumer electronics. Moreover, rise in demand for SoCs in computing and applications is expected to drive the market growth.

However, high cost associated with purchase and maintenance of automatic test equipment acts as a major barrier for early adoption, which hampers growth of the market. On the contrary, rise in government initiatives to boost the semiconductor industry paired with a rise in adoption of energy-efficient integrated circuits solutions is anticipated to provide remunerative opportunities for expansion of the automatic test equipment industry during the forecast period.

Key Benefits for Stakeholders:
⦁ This study comprises analytical depiction of the automatic test equipment market size along with the current trends and future estimations to depict the imminent investment pockets.
⦁ The overall automatic test equipment market analysis is determined to understand the profitable trends to gain a stronger foothold.
⦁ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
⦁ The current automatic test equipment market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
⦁ Porter's five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
⦁ The report includes the market share of key vendors and automatic test equipment market trends.

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