Increasing investment in the research and development (R&D) activities within automotive industry is driving the global in-circuit tester market. As per a new study by Future Market Insights (FMI), the global in-circuit tester market is estimated to be valued at ~US$ 1.06 Bn in 2021.
The COVID-19 pandemic crisis has severely affected the growth. It caused significant disruptions in manufacturing activities and supply chain networks, subsequently affecting the in-circuit tester market. However, the market is expected to recover as the economic activities resume post the containment of pandemic.
In-circuit tester market is likely to grow at a moderate pace during 2021-2031. It is expected to gain from increasing applications across various end-use industries. With manufacturers emphasizing on developing advanced testing equipment, industries are likely to benefit from improved life cycle and durability of in-circuit testers.
Application in automotive electronics is poised to surge in the coming years. With automotive production gradually getting back on track, sales in the sector are expected to pick up. Subsequently, the demand for in-circuit tester will increase as the sector aims at keeping pace with dynamic consumer preference.
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Key Takeaways from In-Circuit Tester Market Study
- FMI has forecast the demand for in-circuit testers to rise at a CAGR of ~4.9% during the forecast period of 2021-2031
- While the U.S. continues to hold over nearly 70%, the demand from Canada is expected to rise at a higher pace
- Within Europe, the U.K. will emerge as a key market, exhibiting 5.6% Y-o-Y growth in 2021
- France and Germany too will continue exhibiting high demand, thanks to expansion of manufacturing activities
- Within East Asia, China will emerge dominant. Demand from Japan and South Korea will also rise at a positive pace
“The increasing demand for in-circuit test and boundary scan test solutions from automotive electronics manufacturers is expected to drive the market. Within a moderately consolidated market space, manufacturers are highly concentrated on increasing sales and expanding their distribution networks with the launch of various standards and models of in-circuit testers,” says a FMI analyst.
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Rising Focus on Emission-control Enabling Growth
Expansion of the automotive electronics sector will remain a chief driver as the report. This is primarily attributable to the implementation of stringent emission control regulations. Coupled with this, the increasing demand for improved comfort, efficiency, connectivity, and safety among consumers will boost in-circuit tester applications in automotive electronics manufacturing.
Along with this, the advent of electronic vehicles will bolster growth opportunities for the market. Focus towards achieving zero emission within the automotive industry will emerge as a chief growth driver.
In-Circuit Tester Market Competitive Landscape
The market is moderately consolidated. Some of the key players in the market are Teradyne Inc., Acculogic Inc., Keysight Technologies, Test Research, Inc., SPEA S.p.A, Digitaltest GmbH, Hioki E.E. Corporation, among others. These players are likely to invest in new technologies, and have longstanding relationships with a number of leading end users, giving them an upper hand among their peers.
In-Circuit Tester Market by Category
By Product
- Multimode Flying Probe Tester
- In-Line Tester
By Portability
- Benchtop
- Compact
By Application
- MDA
- ICT
- FICT
By Fixture
- Vacuum
- Pneumatic
- Mechanical
By Mode
- Semi-Automatic
- Automatic
By End-use
- Automotive Electronics
- Consumer Electronics
- Medical Equipment
- Defense and Aerospace Electronics
- Power Generation, Storage and Distribution
- Network and Communications
- Computers and Peripheral Devices
- Industrial Electronics
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Scope of Report
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered | North America, Latin America, Europe, South Asia & Pacific, East Asia, and the Middle East & Africa
|
| Key Countries Covered | US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, ASEAN, Australia & New Zealand, Turkey, and South Africa |
| Key Segments Covered | Product, Portability, Application, Fixture, Mode, End-use, and Region. |
| Key Companies Profiled |
|
| Report Coverage | Market Forecasts, Brand Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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