Automated Test Equipment Market is expected to reach US$ 7.75 Bn by 2025

 

“Automated Test Equipment Market - Global Analysis and Forecast to 2025”, the global automated test equipment market is expected to reach US$ 7.75 billion in 2025, registering a CAGR of 5.5% during the forecast period 2018 to 2025

The GNSS based ETC system owing to their technical superiority and sophistication have greatly influenced their availability limited to developed economies. Further, the lack of digitization in government vehicle regulators & agency, budget constraints, traffic patterns, and government cooperation is expected to have a profound impact on the market growth in the forecast period. As a result, the GNSS based ETC systems account for relatively low market share in the global market revenue. However, the increasing demand for interoperable ETC system is anticipated to drive the investment towards the market growth. As a result, the market is projected to witness an attractive growth rate of 6.8% from 2019 to 2027.

Key findings of the study:

From a growth perspective India in Asia-Pacific region is anticipated to witness the most lucrative CAGR growth rate of 6.7% during the forecast period

Based on type, the discrete testing segment is projected to witness significant lucrative profitable opportunities with projected CAGR growth rate of 9.6%

The surge in spending towards defense technologies and space exploration projects to boost the segment market growth globally thereby registering a CAGR of 3.0%

Additionally, many of the economies of APAC are aggressively pursuing for digital applications such as smart cities, autonomous vehicles and IoT in a bid to become global powers. The investors wishing to avoid high-tech costs in the US, APAC region presents strong business opportunities for investment in the 5g technology as countries in the region accelerate digital transformation. Piloting of 5G technology has already started in Asian countries. Also, commercial roll outs are planned by the first half of 2019 in South Korea, China and Japan. The rollout of 5G in India is expected to be delayed due to infrastructure and financial related challenges. Also, device compliance is another major factor that would drive the deployment of 5G in the Asian region. Device manufacturers in Asia, such as ZTE, have unveiled 5G-ready smartphones, further defining Asia’s leadership in 5G development. As a result, the Asia-Pacific region is projected to witness a attractive CAGR growth rate of 6.7% during the forecast period.

Based upon the regional diversification, APAC is the major contributor to the market followed by North America and Europe. Also, in coming years the Asia Pacific is expected to maintain its dominance with positive growth opportunities owing to the shift of electronics and automotive production in this region. The rapidly increasing consumer electronics and wireless communication market in developing nations offers a worthy growth opportunity to the ATE market during the forecast period. The top companies operating in the field of automated test equipment include Advantest Corporation, Anritsu Corporation, Astronics Corporation, AVERNA, Chroma ATE Inc., Exicon Co., Ltd., National Instruments, Spea S.p.A., Teradyne, Inc., and Test Research, Inc. among others. Various other companies operating in the market and are coming up with new technologies and offerings which is helping the market for automated test equipment to expand over the years in terms of revenue and subscription.


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