Categories: BusinessNews

Automated Testing Equipment Market is predicted to hit at a CAGR of 3.7% between 2018 to 2026

According to a new market research report published by Acute Market Reports, “Automated Test Equipment Market – Growth, Future Prospects, and Competitive Landscape, 2018 -2026”, the global automated Test equipment market was valued at US$ 3,826.7 Mn in 2017 and is expected to expand at a CAGR of 3.7% during the forecast from 2018 to 2026.

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By Product Type

Memory
Non-memory
Discrete

By End-use Vertical

Industrial Manufacturing
Semiconductor & Electronics
Automotive
Defense & Aerospace

By Geography

North America
Europe
Asia Pacific
Rest of the World

Market Insight

Automated Test Equipment (ATE) is an apparatus used to perform tests on device under test (DUT) using automation. Conducting tests using these automated units help manufacturers take measurements, limit faults/errors, and evaluate test results quicker as compared to the manual test methodology. In view of growing competition and consequent need to achieve economies of scale, deliver quality products, and meet the increasing consumption demand, manufacturers across the globe are embracing automation. Thus, demand for automated Test equipment across industry verticals including semiconductors & electronics, automotive, industrial manufacturing, aerospace, and defense has surged over the last few years.

For instance, with the automobile industry working towards realizing the goal of traffic electrification and nationwide charging networks, the vision of networked, autonomous driving with hybrid or electric drive systems is expected to become reality in the coming years. Subsequently, to reduce inefficiencies and errors in the cost-intensive and time-consuming development process of new electric drives, demand for reliable and accurate electric drive automated test equipment is expected to surge during the forecast period from 2018 to 2026.

In terms of product type, the value contribution from the non-memory ATE segment was highest in 2017. The segment accounted for almost three-fourth of the global market value in the same year. The trend shall prolong and the segment is estimated to register strong growth, retaining its leading position throughout the forecast period from 2018 to 2026. The growth in this segment can be largely credited to the swelling number of microcontroller-based applications and steadily growing automotive production worldwide.

Some of the leading manufacturers profiled in the research study include