Automated Test Equipment Market size to cross $20 Bn by 2032

Automated Test Equipment Market size is slated to exceeded USD 20 billion by 2032, according to the latest research report by Global Market Insights Inc.
 

The industry growth is expected to be influenced by the rising need for advanced & miniaturized semiconductor components in the consumer electronics sector. Several consumer electronics OEMs are focusing their efforts on developing advanced, compact consumer electronics devices like smartphones, tablets, and wearable technology. Additionally, as smart devices gain traction, the need for smaller semiconductor chipsets is projected to escalate, augmenting the demand for advanced automated test equipment in foundries and OSATs, which is likely to favor overall market dynamics.
 

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Booming smart consumer electronics demand to boost SoC test system segment revenues

The automated test equipment market share from the system-on-chip (SoC) test system segment is anticipated to grow at over 10% CAGR from 2023 to 2032 owing to the widespread use of smart consumer electronics, such as smart wearables, laptops and desktop computers. Moreover, the surging usage of electronic components across the automotive industry and the extensive smartphone penetration worldwide are likely to promote the adoption of automated SoC test systems through the estimated timeframe.
 

Declining product prices to propel consumer electronics industry outlook

The consumer electronics market is anticipated to generate more than USD 8.5 billion by 2032. The report cites that the business expansion is likely to be stimulated by the increasing demand for smart consumer electronics products due to soaring customer awareness and declining product prices. Moreover, the changing lifestyles and the rising preference for smart electronic products and connected devices are likely to contribute largely to revenue growth.
 

Browse key industry insights spread across 150 pages with 168 market data tables and 47 figures & charts from the report, “Automated Test Equipment Market Size By Type (Memory Integrated Circuit (IC) Test System, Linear & Discrete Test System, System-on-Chip [SoC] Test System), By Application (Consumer Electronics, Automotive, Aerospace & Defense, Information & Communication Technology (ICT)), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automated-test-equipment-ate-market-size
 

Growing electric automobile manufacturing to augment LAMEA market

The Latin America automated test equipment market is expected to attain nearly 3% gains through 2032 on account of the burgeoning product deployment for bolstering electric vehicle production in the region. In October 2022, the Minister of Communication and Information Technology declared that Saudi Arabia would export and manufacture 150,000 electric cars by the year 2026. This has increased the demand for automated test equipment for power semiconductors utilized in the electric vehicle sector which is foreseen to provide attractive regional growth opportunities.
 

Innovative product launches to define the competitive landscape

The competitive landscape of the market for automated test equipment involves Keysight Technologies, Teradyne Inc., Cohu Inc., Anritsu Co., Chroma ATE Inc., Tokyo Electron Limited, Advantest Corporation, OMRON Corporation, SPEA S.p.A., and other firms. These businesses are developing novel solutions to extend their global reach.