The Global Automated Test Equipment Market accounted for US$ 5.06 Bn in 2017 and is expected to grow at a CAGR of 5.5% over the forecast period 2018-2025, to account for US$ 7.75 Bn in 2025. The demand for automated test equipment is largely influenced by a number of factors such as design complexities of consumer electronic devices demanding for a more robust testing method; proliferation of IoT and connected devices across industry verticals; and increasing automation integrations in the highly prominent manufacturing sector worldwide. Furthermore, the growing needs for high-speed testing capabilities facilitating lesser time-to-market for the products provides a potential opportunity for the automated test equipment market.
The automated test equipment market is fragmented with the presence of several automotive manufacturer and the competitive dynamics in the market is expected to change during the upcoming years. The development of autonomous vehicles is being witnessed with some of the renowned car manufacturers collaborating with the technology leaders for it to be conceptualized. Autonomous vehicles have evolved on the platform built by ADAS. Companies like Ford, General Motors, Nissan, Tesla, Mercedes, Honda and other major manufacturers have been investing billions of dollars in the research & development of these cars. Also, technology giants like Apple, IBM, and Intel have further collaborated with the leading auto manufacturers to remain competitive. Such integration will create significant opportunities for the companies to leverage an increasing growing automated test equipment market.
On the basis of type, memory chip based testing segment is the leading is anticipated to continue its dominance during a majority of the memory chips and the associated devices have witnessed profound attractiveness in the consumer electronics, automotive, aerospace & defense, and healthcare industry verticals for different applications. The increasing demands for these devices is proportionate to the growing demands for testing the memory based devices and hence, the memory chip based testing devices command a larger market share in the automated test equipment market. Rising productions of higher-speed and higher-capacity memory semiconductors to be integrated in the data centers is further anticipated to boost the demands for memory test systems.
The overall automated test equipment market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the automated test equipment market. It also provides the overview and forecast for the global automated test equipment market based on all the segmentation provided with respect to four major reasons such as North America, Europe, Asia-Pacific, the Middle East and Rest of World. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the automated test equipment industry.