South & Central America In-Circuit Tester Market
Published On: Jun 2024
Published On: Jun 2024
At 2.6% CAGR, South & Central America In-Circuit Tester Market is Projected to be Worth US$ 38.78 Million by 2030, says Business Market Insights
According to Business Market Insights research, the South & Central America in-circuit tester market was valued at US$ 31.48 million in 2022 and is expected to reach US$ 38.78 million by 2030, registering a CAGR of 2.6% from 2022 to 2030. Adoption of industry 4.0, rising adoption of in-circuit testers in automotive electronic testing, and growing use of testers to detect manufacturing defects across various end-use industries are among the critical factors attributed to the South & Central America in-circuit tester market expansion.
The Fourth Industrial Revolution, or 4IR or 4.0, is driven by disruptive trends comprising the rise of data and connectivity, analytics, human-machine interaction, and improvements in robotics. Advancements in printed circuit board (PCB) design and the automation of PCB assembly have played a pivotal role in the quality and mass production of a wide range of electronic devices, equipment, and systems. In domestic products, printed circuit boards dictate the functions of smart refrigerators and dishwashers, smartwatches and smart TVs, and home systems such as HVAC, water, and lights. In modern commercial construction, IoT comprises sensors and controllers that automatically optimize energy usage, monitor security and surveillance, and keep track of scheduled facility maintenance. Modern manufacturing uses unseen printed circuit boards that enable smart robotics and factory automation located deep within machines performing extremely fast-paced or dangerous tasks.
Furthermore, the growing adoption of Industry 4.0 and the rising demand for smart manufacturing are boosting the requirement for PCBs. These trends highlight the importance of modern testing solutions in ensuring the quality and reliability of PCBs in the connected and intelligent manufacturing era. As the PCB industry continues to grow, it provides a growth opportunity for the in-circuit tester market, as in-circuit testers are frequently used in PCBs.
On the contrary, high cost of in-circuit testing systems hampers the growth of South & Central America in-circuit tester market.
Based on type, the South & Central America in-circuit tester market is bifurcated into analog and mixed. The analog segment held 86.7% share of South & Central America in-circuit tester market in 2022, amassing US$ 27.30 million. It is projected to garner US$ 33.98 million by 2030 to expand at 2.8% CAGR during 2022-2030.
In terms of product, the South & Central America in-circuit tester market is bifurcated into in-line tester and multimode flying probe tester. The in-line tester segment held 74.9% share of South & Central America in-circuit tester market in 2022, amassing US$ 23.59 million. It is projected to garner US$ 29.43 million by 2030 to expand at 2.8% CAGR during 2022-2030.
Based on portability, the South & Central America in-circuit tester market is bifurcated into non-portable and portable. The non-portable segment held 89.4% share of South & Central America in-circuit tester market in 2022, amassing US$ 28.15 million. It is projected to garner US$ 34.96 million by 2030 to expand at 2.7% CAGR during 2022-2030.
Based on industry, the South & Central America in-circuit tester market is segmented into consumer electronics, automotive, medical equipment, aerospace & defense, and others. The consumer electronics segment held 38.8% share of South & Central America in-circuit tester market in 2022, amassing US$ 12.20 million. It is projected to garner US$ 15.63 million by 2030 to expand at 3.1% CAGR during 2022-2030.
By country, the South & Central America in-circuit tester market has been categorized into Brazil, Argentina, and the Rest of South and Central America. Our regional analysis states that Brazil captured 58.2% share of South & Central America in-circuit tester market in 2022. It was assessed at US$ 18.33 million in 2022 and is likely to hit US$ 23.06 million by 2030, exhibiting a CAGR of 2.9% during 2022-2030.
Key players operating in the South & Central America in-circuit tester market are Teradyne Inc, Keysight Technologies Inc, Kyoritsu Test System Co Ltd, and SPEA S.p.A., among others.
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