Automated Test Equipment Market To Grow At 3.3%CAGR During 2021 - 2028 Due To Growing Electronic Components In The Automotive Sector
Automated Test Equipment Industry Overview The global automated test equipment market size was valued at USD 6.87 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.3% from 2021 to 2028. The growth is driven by the use of Automated Test Equipment (ATE) in the automotive and semiconductor industry. Significant increase in the number of connected devices and consumer electronics along with an increasing focus of the companies on quality improvement along with end-to-end testing solutions is expected to further drive the market. Implementation of ATE in semiconductor manufacturing companies to enhance the performance capability, speed of operation, and in turn, reduce the cost of semiconductor devices is expected to positively influence the growth. Increasing adoption of System on Chip (SoC) and high demand for consumer electronics is expected to be the key driving force for the ATE market over the forecast period. Growing electronic components ...