Global Automotive Inertial Systems Market - Segmented by Type (Attitude Heading Reference System (AHRS), Inertial Positioning and Orientation Systems, Inertial Measurement Units (IMU)), by Component (Accelerometers, Gyroscopes, Magnetometers), by End-User Application (Aerospace, Land, Marine), by End-User Industry (Defense, Industrial OEM, Transportation), and Region - Growth, Trends, and Forecast (2018 - 2023)
The global automated test equipment market was valued at USD 3.72 billion in 2017, and is expected to reach a value of USD 4.51 billion by 2023 at a CAGR of 3.28% during the forecast period (2018 - 2023). Automatic Testing Equipment (ATE) is used to inspect the performance and functionality of the device under Test (DUT). ATE is widely used across the industries, owing to its high-volume testing Characteristics with cost efficiency. The semiconductor industry forms a significant part of the ATE Market. The increasing semiconductor chip volume has the potential to drive the global demand for the ATE market. One of the primary goals of organizations is to have more products in their stock, delivering the custom products in optimum time and to speed-up the development processes for their new products. To achieve these goals, automated testing has become almost apparent. It helps to spend more time in design perfection than testing. Even though ATE setup requires huge upfront capital investment and savvy engineering resources, the benefits of automated testing prompts the organizations to setup ATE.
The consumer electronics and IT & telecommunications, together, form a major pie in the global ATE market. North America dominated the current global ATE market and the Asia-Pacific ATE market is expected to grow to become the top market by the end of the forecast period.
Growth in Consumer Electronics Sales is driving the Market
The growth in the global automated test equipment market is in line with the global consumer electronics market trend. This is due to wide implementation of ATE to test electronic components and systems, after fabrication. It is controlled through a computer, which includes loads of complex test instruments and is capable of testing and finding faults in electronic components or integrated circuits. Among other tablets, LCD TVs and smartphones are key drivers for growth in the consumer electronics industry. The CE industry is expected to be highly influenced by the emerging technologies, such as smart watches, smart thermostats, automotive electronics, UHD TVs, smart eyewear, fitness & activity trackers and other high-end wearable devices, during the forecast period. However, the demand for these goods is expected to be stagnate in the developed economies. Meanwhile, the volume sales growth in emerging markets is evident. Asia-Pacific has become the largest consumer electronics market, primarily driven by the emerging economies, such as China and India. Hence, it is expected that the ATE market in Asia-Pacific will surpass the North American market toward the end of the forecast period.
Defense has the largest share
The defense industry has witnessed a rise in number of complicated technologies and devices, in the last three decades. With technology developing at a rapid pace, with innovation leading to improvement in efficiency of existing devices and further covering new scope of operations useful for a wide range of functions, ATE finds applications in the defense industry to verify the proper functioning of equipment and to ensure that there is no scope of occurrence for mishaps. Defense spending by nations is always very high when compared to other segments. It holds a high priority in applications, as the government needs to secure the most efficient systems for ensuring safety of the nation. ATE finds applications in the defense industry, as it verifies and calibrates the most complex electronics deployed. ATE checks the operating software by delivering high-performance digital, analog, mixed-signal, and serial bus testing for the entire overall hardware infrastructure setup installed. The functional testing systems by companies investigate the operation of the legacy technology-based applications, while the high speed of testing provides a more economically beneficial solution. The test solutions provided a number of ATE manufacturers, a holistic test study in real time for checking all levels of integration.
North America holds the Largest Market Share
North America is the major market for the automated test equipment market. North America is the major market for the automated test equipment market. The United States leads the rest of the world in terms of innovation and investment. Increase in production of helicopters and commercial aircrafts drives the market for testing. The huge aerospace industry of the country exports more than 60% of all the aerospace production. Many foreign firms are attracted to the United States aerospace market as it is the largest in the world, characterized by skilled and hospitable workforce, diverse offerings and extensive distribution systems. Automated test equipment further finds application in the defense sector. The defense industry in the country has a budget allocation, which is more than the entire economy of more than half of the existing countries in the world. Being on the verge of developing much advanced future technologies, the country is expected to boost the demand for exhaustive and complex testing equipment to ensure the highest level of security.
Key Developments in the Market
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