- ResearchAndMarkets.com offers a study of the global automated test systems market.
- According to the study, this market is expected to grow at a CAGR of 3.3% between 2021 and 2028 to reach USD 8.94 billion by 2028.
- The growth of the automated test equipment market is driven by the automotive and semiconductor industries in particular.
The automotive segment is expected to witness considerable growth over the forecast period owing to the ever-increasing integration of in-vehicle electronic systems and the development of electric cars and autonomous vehicles.
Increasing adoption of System on Chip (SoC) coupled with high demand from consumer electronics sector is also expected to drive growth.
Expansion of wireless networks in developing countries is expected to provide significant growth opportunities for the global market.
Advancements in smartphones, tablets, and system-on-chip (SoC) based products are creating demand for test systems with broader functionality.
Connected and IoT devices, which are gaining compactness, performance, and versatility, are also boosting the demand for automated test systems.
The IT and telecom sector is expected to generate significant market growth in the coming years.
Asia Pacific held the largest market share in 2019. It is expected to register the fastest growth between 2021 and 2028, owing to the increasing number of semiconductor industries in the region.
North America is expected to witness substantial growth over the forecast period due to high investments in aerospace and defense sectors.