Asia Pacific Automated Test Equipment Market
Published On: Jun 2024
Published On: Jun 2024
At 8.4% CAGR, Asia Pacific Automated Test Equipment Market is Projected to be Worth US$ 5,247.76 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Asia Pacific automated test equipment market was valued at US$ 2,758.55 million in 2022 and is projected to reach US$ 5,247.76 million by 2030, registering a CAGR of 8.4% from 2022 to 2030. Increasing automation in manufacturing sector and rising demand for robust testing method are among the critical factors attributed to drive the Asia Pacific automated test equipment market growth.
The consumer electronics industry is evolving at an exponential pace. The rising demand from consumers has encouraged suppliers to provide differentiated products and be the first movers in the market. A tough competition with peers in the consumer electronics industry has resulted in price wars, leading to decreasing profitability for the manufacturers. As a result of these factors, manufacturers strive continuously for innovations in their product offerings. More manufacturers have been curious about becoming the pioneers of new products in the market. The analog-to-digital conversion brought many new standards in audio and video, which improved the quality and affordability of the multimedia digital experience.
The rise of broadband has made accessing media easy and rewarding for consumers due to the rich quality enabled by the digital revolution. The proliferation of smart products is driving the need for engineers to improve electronic product design and focus on delivering lower cost, lower power, and higher performance through the integration of discrete functions.
Today's smart products comprise complex electronic systems that need flawless operation to deliver effective performance in the real world. Growing demand for device miniaturization to support faster data rates, multiple wireless technologies, and longer battery life is propelling the automated testing equipment market. Additionally, demand for numerous features on a single device is raising complexity in the designing of circuit boards. For example, a smartphone includes features such as a camera, calling function, torch, storage drives, connectivity with other devices, compatible ports for connections, a multimedia player, and many other functions. Similarly, other consumer electronic devices have been improving on similar lines, propelling the semiconductor manufacturers for more miniaturization of the chips and integration of more functionalities. Growing demand for smartwatches among consumers is driving the automated test equipment market. Automated test equipment is adopted to test the components and functionality of smartwatches by improving their performance.
The rising trend of miniaturizing consumer electronics has driven package component sizes down to the design-rule level of early technologies. The integrated circuit (IC) package technology must deliver higher lead counts, minimum footprint area, reduced lead pitch, and significant volume reduction, which led semiconductor manufacturers to develop small outline package (SOP) and surface-mount memory packaging.
SOP packages consume one-third to one-half of the volume of earlier packaging alternatives. They are the foremost choice to manufacture handheld electronics, laptop and notebook PCs, portable communication devices, disk drives, and other applications. Furthermore, industrial controls and consumer devices that generate internal heat are need to go for testing process to avoid losses at various production levels. While the manufacturing of devices is carried out, early detection of faults could save the company from further losses and also present an opportunity to rectify them at the initial stage. Hence, the continued design complexities in consumer electronics coupled with the miniaturization of these devices would drive the demand for automated test equipment, thereby driving the market.
On the contrary, huge costs incurred in testing and O&M complexities hampers the growth of Asia Pacific automated test equipment market.
Based on type, the Asia Pacific automated test equipment market is segmented into integrated circuits (ICs) testing, printed circuit boards (PCBs) testing, hard disk drives (HDDs) testing, and others. The integrated circuits (ICs) testing segment held 49.5% market share in 2022, amassing US$ 1,365.53 million. It is projected to garner US$ 2,714.62 million by 2030 to register 9.0% CAGR during 2022-2030.
In terms of component, the Asia Pacific automated test equipment market is segmented into industrial PCs, mass interconnect, and handler/prober. The industrial PCs segment held 60.8% share of Asia Pacific automated test equipment market in 2022, amassing US$ 1,678.21 million. It is anticipated to garner US$ 3,141.83 million by 2030 to expand at 8.2% CAGR during 2022-2030.
By end user, the Asia Pacific automated test equipment market is divided into consumer electronics, automotive, medical, aerospace & defense, IT & telecommunication, and other industries. The consumer electronics segment held 29.4% share of Asia Pacific automated test equipment market in 2022, amassing US$ 811.64 million. It is projected to garner US$ 1,720.03 million by 2030 to expand at 9.8% CAGR from 2022 to 2030.
Based on country, the Asia Pacific automated test equipment market is categorized into China, Japan, South Korea, Taiwan, India, and the Rest of Asia Pacific. Our regional analysis states that China captured 33.6% share of Asia Pacific automated test equipment market in 2022. It was assessed at US$ 926.76 million in 2022 and is likely to hit US$ 1,956.47 million by 2030, registering a CAGR of 9.8% during 2022-2030.
Key players operating in the Asia Pacific automated test equipment market are Advantest Corp; Anritsu Corp; Averna Technologies Inc; Chroma ATE Inc.; Exicon Co., Ltd; National Instruments Corp; SPEA S.p.A; Teradyne Inc; and Test Research, Inc., among others.
E 1803, Panchshil Towers, Vagholi, Haveli, Pune- 412207, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
