The automated test equipment market is projected to reach a value of US$ 6.1 billion in 2022, with expectations to grow to US$ 10.6 billion by 2030. This market is anticipated to experience a compound annual growth rate (CAGR) of 7.2% from 2022 through 2030.

The Asia-Pacific (APAC) region's automated test equipment market encompasses nations such as China, Japan, India, South Korea, and other countries in the region. In recent years, these nations have experienced significant growth in their manufacturing sectors. APAC is on the brink of establishing itself as a global manufacturing powerhouse, characterized by a wide array of industries, including electronics, automotive, and petrochemical sectors. China is emerging as a center for high-skilled manufacturing, with other developing nations like India, South Korea, Vietnam, and Taiwan following suit. To attract manufacturing firms, various governments in the APAC region are providing incentives such as tax breaks, funding, and subsidies. Initiatives like Made in China 2025 and Make in India are driving the expansion of the manufacturing sector in these countries, which in turn increases the demand for automated test equipment, thereby propelling market growth.

China stands as the world's largest producer of passenger vehicles, with Japan, India, and South Korea also playing significant roles. This dominance in the automotive sector is expected to further enhance the market share of automated test equipment within the country. Additionally, the consumer electronics manufacturing sector in the Asia-Pacific region is recognized as a global leader. The presence of these industries is likely to have a positive impact on the growth of the automated test equipment market. Furthermore, as the largest manufacturing hub, China is facing rising labor costs due to its aging population. Consequently, manufacturing companies from developed nations are increasingly looking to invest in Southeast Asian countries, attracted by their improving infrastructure, growing domestic markets, and lower operational costs.

The global automated test equipment market is categorized by type into several segments, including integrated circuits (ICs) testing, printed circuit boards (PCBs) testing, hard disk drives (HDDs) testing, and others. Among these, the integrated circuits (ICs) testing segment accounted for the largest share of the automated test equipment market in 2022. IC testing involves sending electrical signals to a semiconductor device to compare the output signals with expected values, completing the testing process. This type of testing is crucial for verifying that a device meets its design specifications. The flexibility offered by IC testing allows manufacturers to swiftly adapt to changing product demands, which in turn boosts its popularity and contributes to the growth of the automated test equipment market.

Key players in the automated test equipment market include ADVANTEST CORPORATION, Anritsu, Astronics Corporation, Averna, Chroma ATE Inc., EXICON, NATIONAL INSTRUMENTS CORP., SPEA S.p.A, Teradyne Inc., and Test Research, Inc. These companies are profiled in the current market analysis.

The overall size of the Automated Test Equipment Market has been determined through a combination of primary and secondary research methods. Extensive secondary research has been conducted using both internal and external sources to gather qualitative and quantitative data regarding the Automated Test Equipment Market size. This research process aids in providing a comprehensive overview and forecast of the market across all segments. Additionally, numerous primary interviews have been carried out with industry stakeholders to validate the collected data and gain deeper analytical insights. This process includes discussions with industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the automated test equipment sector.