Increasing Popularity of Wireless Networks to Positively Impact the Automated Test Equipment Market Size By 2022
January 22, 2020 by Market-NewsFlash
The global automated test equipment as per Market Research Future (MRFR) is anticipated to garner a CAGR of 3.5% over the assessment period between 2016 and 2023.
The global market is expected to grow during the period due to a number of key factors. The increasing mobility of devices across companies in semiconductor manufacturing has boosted the demand for the global market. The fast-paced penetration of smartphones across the world and the booming electronic content in the automotive industry are some of the other likely factors that are anticipated to boost the global automated test equipment market in the coming years. Add to this, an upsurge in demand for mobile automated solutions and the booming popularity of wireless networks in a number of developed as well as developing regions are forecasted to stimulate a positive market growth of automated test equipment. It is also worth noting that the rising complexities in designs alongside the latest introduction of technologically advanced innovations is strikingly driving the global automated test equipment market towards a positive side.
The global automated test equipment market is segmented in terms of application, component, and type.
By component, the market segments into probers, mass interconnect, industrial PC, semiconductors, and handlers.
By application, the market includes aerospace and defense, consumer electronics, telecommunications, automotive, and others. Among these segments, the telecommunication industry has the highest share in the global market. The segment is further anticipated to grow at a notable pace to remain at the top of the automated test equipment market standings.
The global automated test equipment market has been segmented into four key regions across, namely Europe, Asia Pacific, North America, and the Rest of the World (RoW).
The North American region dominates the global automated test equipment market with the highest share percentage. This is due to the vast pool of applications of the device in the defense industry in this region. The regional market valuation back in 2016 stood at USD 1,272.80 million and is anticipated to reach a valuation of USD 1,564.94 million by the end of the forecast period in 2022.
The global automated test equipment market hosts a number of key players. Some of the notable contenders in the market were highlighted and profiled by MRFR in its published report. This includes names like Astronics Test Systems (U.S.), Chroma ATE Inc. (Taiwan), Teradyne Inc. (U.S.), LTX-Credence Corporation (U.S.), Cobham Plc (U.K.), Advantest Corporation (Japan), National instrument Corporation (U.S.), Agilent Technologies Inc. (U.S.), Marvin Test Solution Inc. (U.S.), Roos Instrument Inc. (U.S.), and others.
About Market Research Future: