- The growth of the automated test equipment industry is due to its escalating demand in electronic manufacturing sector for examining systems as well as electronic components for defects during production of components
- The advent of next-gen devices will further spur the market expansion over the years to come
The global automated test equipment market was valued at $1.1 billion in 2019 and is expected to be valued at $4.82 billion by 2025 as per a report by ResearchAndMarkets. It added that it will grow at a CAGR of 3.6 per cent.
The growth of the automated test equipment industry is due to its escalating demand in electronic manufacturing sector for examining systems as well as electronic components for defects during production of components. It also helps in identification and testing of errors in integrated circuits, chip systems, and wafer testing.
Thriving vehicle sector and commercialisation of IoT activities
This, in turn, will boost the market trends over the coming years. The advent of next-gen devices will further spur the market expansion over the years to come. The report said that the thriving vehicle sector and commercialisation of IoT activities will further boost the scope of the business over the forecast timeline.
North American sub-continent will be the major regional revenue contributor towards the overall market during 2019-2025. The regional market growth is attributed to the slew of product applications in aerospace and defence sectors.
