Failure Analysis Market Size, Share, Forecast 2024-2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Failure Analysis Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $6.96 billion In 2028 At A CAGR Of 9.4% :

The failure analysis market size has grown strongly in recent years. It will grow from $4.44 billion in 2023 to $4.86 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to the increasing complexity of products, stringent regulatory requirements, growing awareness of quality control, and rising demand for reliability engineering.

The failure analysis market size is expected to see strong growth in the next few years. It will grow to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to the expansion of emerging industries, the globalization of supply chains, and rising demand for predictive maintenance. Major trends in the forecast period include medical device failure analysis, industry-specific solutions, collaboration and knowledge sharing, and failure analysis in additive manufacturing.

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Failure Analysis Market Major Segments
The failure analysis market covered in this report is segmented -

1) By Equipment: Scanning Electron Microscope (SEM), Focused Ion Beam (FIB) System, Transmission Electron Microscope (TEM), Dual Beam System
2) By Technology: Secondary ION Mass Spectrometry (SIMS), Energy Dispersive X-ray Spectroscopy (EDX), Chemical Mechanical Planarization (CMP), Other Technologies
3) By End-User Vertical: Automotive, Oil And Gas, Defense, Construction, Manufacturing, Other End-User Verticals

Key Driver - Automation Driving Growth In Failure Analysis Market

The increasing adoption of automation is expected to propel the growth of the failure analysis market going forward. Automation uses technology and machinery to perform tasks or processes with minimal human intervention. Automation streamlines processes, reduces manual labor, and minimizes human error, increasing efficiency and productivity in various industries. Failure analysis helps identify the underlying reasons for system failures, malfunctions, or breakdowns in automated processes. For instance, in May 2022, according to a survey of 321 manufacturers conducted by Rockwell Automation, Inc., a US-based industrial automation company, the adoption of smart factory technologies witnessed a remarkable 50% year-over-year growth. Moreover, 74% of surveyed manufacturers are either utilizing or planning to integrate technologies into their manufacturing operations. Additionally, 83% of manufacturing professionals will upgrade their modernization processes into smart factories. Therefore, the increasing adoption of automation is driving the growth of the failure analysis market.

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Prominent Trend - AI-Powered Test Failure Analysis Enhances Test Orchestration Platform

Major companies in the failure analysis market integrate AI and ML technologies into analysis processes and solutions such as AI-powered test failure analysis, to improve efficiency, accuracy, and speed in identifying and diagnosing failures. AI-powered test failure Analysis is a tool that uses artificial intelligence to identify and categorize errors in test case failures. It analyzes test logs and offers a comprehensive overview of the underlying causes of failures, helping developers quickly identify and fix issues. For instance, in January 2023, LambdaTest, a US-based operator of an AI-powered unified enterprise test execution cloud platform, introduced an AI-powered test failure analysis feature in its smart test orchestration platform, HyperExecute. This innovative feature enables digital businesses to streamline troubleshooting and remediation processes for test case failures, saving time and increasing developer feedback velocity. It is designed to simplify test execution processes, categorize errors, and offer structured approaches to address test failures efficiently. HyperExecute provides intelligent features like auto-grouping, auto-retry, and fail-fast mechanisms to enhance testing productivity and accelerate time-to-market for digital businesses.

Failure Analysis Market Players
Major companies operating in the failure analysis market are Hitachi Ltd., Thermo Fisher Scientific Inc., Applied Materials Inc., KLA Corporation, Eurofins Scientific SE , Agilent Technologies, Ametek Inc., Keysight Technologies, Advantest Corporation, Shimadzu Corporation, Bruker Corporation, Carl Zeiss AG, Leica Microsystems GmbH, Renishaw plc, Veeco Instruments, A&D Company Ltd., Rigaku Corporation, Park Systems Corp., Oxford Instruments, Tescan Orsay Holding, JEOL Ltd.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the failure analysis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the failure analysis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Failure Analysis Market Report Structure
3. Failure Analysis Market Trends And Strategies
4. Failure Analysis Market - Macro Economic Scenario
5. Failure Analysis Market Size And Growth
…..
27. Failure Analysis Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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