Automatic Test Equipment Market Trends, Active Key Players, and Growth Projection Up to 2030

The global automatic test equipment market share is expected to witness considerable growth, owing to an increase in demand for automated test equipment solutions, especially in emerging economies such as Asia-Pacific and LAMEA. Furthermore, the emergence of advanced semiconductor-based electronics applications has created potential opportunities for market growth during the forecast period. Allied Market Research, titled, "Automatic Test Equipment Market By Type, Component, And Industry Vertical: Global Opportunity Analysis And Industry Forecast, 2021-2030," the automatic test equipment market size was valued at $6.44 billion in 2020, and is projected to reach at $9.52 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030.

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Automatic test equipment is a vital element of electronics test scenes designed to enable the conduct of tests on various devices known as devices under test. Advanced automatic test equipment for PCB uses automated information and control system technology to perform an enhanced test that calculates and quantifies devices under test.

Moreover, semiconductor automatic test systems 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 applications and supply chains across consumer electronics, offering significant growth opportunities for the market in coming years.

The surge in demand for advanced semiconductor components across the consumer electronics sector and the rise in penetration of 5G and the Internet of Things drive the market growth. Moreover, the surge in demand for SoCs in computing and AI applications propels market growth. However, the high cost associated with the purchase and maintenance of automatic test equipment is anticipated to restrain the automatic test equipment market share. Further, the surge in government initiatives to propel the semiconductor industry paired with the surge adoption of energy-efficient integrated circuits solutions is expected to provide lucrative opportunities for the automatic test equipment industry during the forecast period.

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Competitive Analysis:

The Automatic Test Equipment industry's 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 in the global Automatic Test Equipment Market include,

Advantest Corporation.
Cal-Bay Systems, Inc. (Averna)
Chroma ATE Inc.
LTX-Credence (Cohu, Inc.)
Marvin Instruments Corp.
National Instruments Corp.
Roos Instruments, Inc.
Shinbashi, Inc.
SPEA S.p.A.
Teradyne Inc.

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. The surge in the adoption of advanced semiconductor technology applications across the consumer electronics sector has led to the growth of the industrial PC segment; thereby, enhancing the automatic test equipment market growth.

The emergence of COVID-19 has significantly impacted the global automatic test equipment industry. Delays caused for construction projects due to partial or complete lockdowns in various regions of the world have significantly reduced the production of drones in agriculture during the pandemic. However, the surge in demand for error-free electronics applications has propelled the demand for automatic test equipment. Hence, consumer electronics and medical industries have seen potential opportunities in the deployment of automatic test equipment and are expected to drive the automatic test equipment market analysis post-pandemic.

Region-wise, North America holds a significant share of the global automatic test equipment market size. The adoption of sustainable automatic testing equipment solutions in the aerospace a& defense sectors is expected to propel the automatic test equipment industry in this region. Moreover, the presence of prime vendors paired with advanced technological solutions in North America is anticipated to boost the growth of the automatic test equipment market in this region.

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Key Findings Of The Study

- In 2020, the industrial PC segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 3.5% during the forecast period.
- The memory and mixed signal segments together accounted for around 59.7% of the automatic test equipment market share in 2020.
- The healthcare & life science segment is projected to grow at a CAGR of 6.7% during the forecast period.
- North America contributed the major share in the automatic test equipment market, accounting for more than 35.1% share in 2020.

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