Automated Test Equipment Market Analysis , Size , Share , Growth , Industry Trends and Forecasts to 2024 | Hexa Research
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Automated Test Equipment Market Analysis , Size , Share , Growth , Industry Trends and Forecasts to 2024 | Hexa Research
" The global automated test equipment market is expected to witness substantial growth by 2024 on account of the increasing complex designs and need for effectual testing ."
The global Automated Test Equipment Market is anticipated to grow beyond USD 4.4 billion by 2024 . The growing demands for consumer electronics are projected to drive the global market during the forecast period ( from 2016 to 2024 ). Moreover , the needs for effective testing and rising design complexity are also expected to boost the demand during the next few years . Increased electronic devices in automobile and smartphones penetration are also said to positively impact the overall market . The automated test equipment market is categorized as applications , products , and regions .
The IT & telecommunication occupied over 50 % of the overall market in 2015 due to the proliferation of smartphones tablets , computers , etc . in the market along with the growing importance of effective communication . The automotive sector is likely to exhibit a considerable growth due to rising integration of advanced electronic devices in vehicles .
The products sector of the automated test equipment market comprises discrete , memory , and non-memory . The non-memory product sector led the market in 2015 and occupied over 75 % of the total market share . The discrete product sector is generally developed in-house as companies avoid investing in costly test tools for low-cost discrete component testing . The sector is anticipated to experience a huge growth in future .
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