The global automated test equipment market is anticipated to grow at a considerable CAGR of 3.4% during the forecast period (2024-2031). The increasing integration of various electronic features in EVs, such as powertrain, battery management systems, engine controllers, and others, which are integrated with ICs and power discrete devices will drive the demand for automated test equipment. According to the International council of clean transportation, the electric vehicle market in the US has grown from a few 1000 vehicles in 2010 to more than 315,000 vehicles sold annually from 2018 to 2020. In 2020, the electric share of new vehicle sales was approximately 2.4%, an increase from about 2% in 2019. Moreover, according to a report published by the International Energy Agency in 2021, the global EV registration increased to 10 million units in 2020, a 43% rise compared to 2019.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in November 2021, Astronics Corp Astronics Corporation a leading provider of advanced technologies for the global aerospace, defense, and other mission-critical industries, launched its ATS-5000 Series of Functional Test and Support Solutions, a unique consolidation of world-class instrumentation, architecture, and software, configured to meet the end-user requirements. These solutions take advantage of the Company’s Transit Test Systems’ success, both in terms of software and hardware, adapting it to apply to a wide range of industries.
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Market Coverage
- Segment Covered-
o By End-user
o By Type
- Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Advantest Corp, Cobham Plc., Astronics Test Systems Inc., Chroma ATE Inc., National Instruments Corp.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automated Test Equipment Market Report Segment
By Type
- Memory
- Non – memory
- Discrete
- Test Handlers
By End-user
- Aerospace and Defense
- Consumer Electronics
- IT and Telecommunications
- Automotive
- Healthcare
- Others
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