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The failure analysis market size has grown strongly in recent years. It will grow from $4.44 billion in 2023 to $4.86 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to the increasing complexity of products, stringent regulatory requirements, growing awareness of quality control, and rising demand for reliability engineering. The failure analysis market size is expected to see strong growth in the next few years. It will grow to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to the expansion of emerging industries, the globalization of supply chains, and rising demand for predictive maintenance. Major trends in the forecast period include medical device failure analysis, industry-specific solutions, collaboration and knowledge sharing, and failure analysis in additive manufacturing.

The increasing adoption of automation is expected to propel the growth of the failure analysis market going forward. Automation uses technology and machinery to perform tasks or processes with minimal human intervention. Automation streamlines processes, reduces manual labor, and minimizes human error, increasing efficiency and productivity in various industries. Failure analysis helps identify the underlying reasons for system failures, malfunctions, or breakdowns in automated processes. For instance, in May 2022, according to a survey of 321 manufacturers conducted by Rockwell Automation, Inc., a US-based industrial automation company, the adoption of smart factory technologies witnessed a remarkable 50% year-over-year growth. Moreover, 74% of surveyed manufacturers are either utilizing or planning to integrate technologies into their manufacturing operations. Additionally, 83% of manufacturing professionals will upgrade their modernization processes into smart factories. Therefore, the increasing adoption of automation is driving the growth of the failure analysis market.

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What Are The Key Trends That Influence Failure Analysis Share Analysis?

Companies are incorporating AI and ML technologies into solutions like AI-powered test failure analysis to improve efficiency and accuracy in diagnosing failures. AI-powered test failure analysis tools use artificial intelligence to identify and categorize errors in test cases, providing a comprehensive overview of failure causes. For instance, in January 2023, LambdaTest, a US-based operator of an AI-powered test execution cloud platform, introduced an AI-powered test failure analysis feature in its HyperExecute platform. This feature streamlines troubleshooting by automating error categorization and offering structured approaches to resolve test failures. HyperExecute includes intelligent features like auto-grouping, auto-retry, and fail-fast mechanisms to enhance testing productivity and speed up time-to-market.

Which Market Players Are Driving Growth In The Failure Analysis Market?

Major companies operating in the failure analysis market are Hitachi Ltd., Thermo Fisher Scientific Inc., Applied Materials Inc., KLA Corporation, Eurofins Scientific SE , Agilent Technologies, Ametek Inc., Keysight Technologies, Advantest Corporation, Shimadzu Corporation, Bruker Corporation, Carl Zeiss AG, Leica Microsystems GmbH, Renishaw plc, Veeco Instruments, A&D Company Ltd., Rigaku Corporation, Park Systems Corp., Oxford Instruments, Tescan Orsay Holding, JEOL Ltd.

How Is The Global Failure Analysis Market Segmented?

1) By Equipment: Scanning Electron Microscope (SEM); Focused Ion Beam (FIB) System; Transmission Electron Microscope (TEM); Dual Beam System
2) By Technology: Secondary ION Mass Spectrometry (SIMS); Energy Dispersive X-ray Spectroscopy (EDX); Chemical Mechanical Planarization (CMP); Other Technologies
3) By End-User Vertical: Automotive; Oil And Gas; Defense; Construction; Manufacturing; Other End-User Verticals

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The Failure Analysis Global Market Report 2024 provides an overview of the failure analysismarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The failure analysis market forecast analyzes failure analysis market size, failure analysis market share, leading competitor and their market positions.

The Table Of Content For The Failure Analysis Market Include

1. Failure Analysis Market Executive Summary
2. Failure Analysis Market Segments
3. Failure Analysis Market Size And Template Market Growth Rate
4.  Key Failure Analysis Market Trends
5. Major Failure Analysis Market Drivers
……
25. Key Mergers And Acquisitions In The Failure Analysis Market
26. Top Failure Analysis Companies
27. Failure Analysis Market Opportunities And Strategies
28. Failure Analysis Market, Conclusions And Recommendations
29. Appendix

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