The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Evolving Landscape of Automated Test Equipment

In recent years, the automated test equipment market has experienced robust growth, with its size expanding from $6.92 billion in 2023 to an estimated $7.38 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.5%. This growth is fueled by quality assurance needs, globalization of electronics manufacturing, and a focus on enhancing production throughput and time-to-market.

Anticipated Growth Trajectory

The forecast for the automated test equipment market indicates a strong upward trajectory, with projections estimating a climb to $9.82 billion by 2028, boasting a compound annual growth rate (CAGR) of 7.4%. The anticipated growth is underpinned by factors such as a focus on test cost reduction, advancements in energy-efficient electronics, and the rise of automotive electronics.

Key Drivers of Market Expansion

Rising Automobile Production Spurs Market Growth

The surge in automobile production emerges as a primary driver of the automated test equipment market. As global motor vehicle production reached 85.4 million units in 2022, automated test equipment solutions play a pivotal role in ensuring the quality and functionality of automotive components. With the projected increase in North American light vehicle production to 15.4 million units in 2023, the demand for automated testing solutions is set to soar.

Innovative Solutions Revolutionize Test Systems

Major players in the automated test equipment market are pioneering innovative solutions to meet evolving consumer needs. Introducing a test workflow subscription bundle, companies like National Instruments Corporation provide engineers with a comprehensive software solution for creating and executing test or measurement systems. Such innovations streamline test system development and accelerate time-to-market for products.

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Strategic Moves and Acquisitions

Advantest Corporation’s Acquisition Drive

In a strategic move, Advantest Corporation acquired R&D Altanova in October 2021, signaling a concerted effort to enhance its semiconductor value chain. This acquisition aims to integrate business activities and provide enhanced customer value across the semiconductor industry. R&D Altanova’s expertise complements Advantest Corporation’s mission of driving innovation in the semiconductor sector.

Segmentation and Market Dynamics

Segmentation Overview

The automated test equipment market is segmented based on product type, component, technology, and end-users. Product types include memory IC test systems, linear and discrete test systems, and system-on-chip (SoC) test systems. Components encompass industrial PCs, mass interconnects, handlers, probers, and other components. Technology segments range from WCDMA and RF technology-based testing to machine vision technology testing.

Regional Dynamics

North America emerged as the largest region in the automated test equipment market in 2023. However, Asia-Pacific is slated to be the fastest-growing region in the forecast period. With burgeoning manufacturing hubs and increasing technological adoption, Asia-Pacific presents significant growth opportunities for automated test equipment providers.

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The Automated Test Equipment Global Market Report 2024  provides an overview of the automated test equipment market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automated test equipment market forecast analyzes automated test equipment market size, automated test equipment market share, leading competitor and their market positions.

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