Report : Europe Automated Test Equipment Market Forecast to 2030 - Regional Analysis - by by Type [Integrated Circuits (ICs) Testing, Printed Circuit Boards (PCBs) Testing, Hard Disk Drives (HDDs) Testing, and Others], Component (Industrial PCs, Mass Interconnect, and Handler/Prober), and End User (Consumer Electronics, Automotive, Medical, Aerospace & Defense, IT & Telecommunication, and Other Industries)
At 6.1% CAGR, Europe Automated Test Equipment Market is Projected to be worth US$ 1,950.98 million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe automated test equipment market was valued at US$ 1,213.07 million in 2022 and is projected to reach US$ 1,950.98 million by 2030, registering a CAGR of 6.1% from 2022 to 2030. Increasing automation in manufacturing sector and evolution of IOT and connected devices are among the critical factors attributed to drive the Europe automated test equipment market growth.
The evolution of IoT enables devices to be connected over the Internet. For instance, according to Cisco Systems, Inc., nearly two-thirds or 66% of the global population will have Internet access, reaching 5.3 billion of total Internet users by the end of 2023. The rapid growth of data traffic over the Internet is attributed to the rising penetration of smartphones, smartwatches, and other consumer electronic devices that can be connected over the Internet, increasing the popularity of IoT.
Strong internet infrastructural deployments in advanced countries coupled with the development of advanced infrastructures such as 5G, fiber optic cables, and wireless connectivity are establishing new use cases, including Fixed Wireless Access, Critical IoT, and Massive IoT. Growing advancements in internet technology are driving businesses to harness the best out of the presented opportunity and maximize revenue generation streams. It is estimated that each individual will have close to a dozen devices that will be connected to the Internet by 2020. As per Ericsson's latest mobility report, the number of mobile subscriptions has reached 59 billion in the first quarter of 2023. The number of mobile broadband subscriptions is growing at 89% percent year-on-year, reaching a total of 65 million in the first quarter of 2023. The growing number of mobile subscriptions associated with inactive subscriptions, optimization of subscriptions for different types of calls, and multiple device ownership. Additionally, significant initiatives taken by the government toward the digitalization of economies in developing countries such as Italy and Spain are creating a larger number of data traffic over the Internet.
Growing awareness related to the benefits provided by advanced technologies such as IoT, communications, and sensors is paving the way for the integration of sensors into the devices, creating opportunities for the automated test equipment market growth. Several industries, such as consumer electronics, automotive, healthcare, and aerospace & defense, are adopting automated testing equipment to automate and transform numerous business functions such as supply chain planning and logistics and manufacturing across industries for increasing profitability. The growth of automated test equipment in the various end user industries is anticipated to rise at a rapid rate in the coming years, with IoT gaining more prominence in the coming years.
On the contrary, huge costs incurred in testing and O&M complexities hampers the growth of Europe automated test equipment market.
Based on type, the Europe automated test equipment market is segmented into integrated circuits (ICs) testing, printed circuit boards (PCBs) testing, hard disk drives (HDDs) testing, and others. The integrated circuits (ICs) testing segment held 46.9% market share in 2022, amassing US$ 568.76 million. It is projected to garner US$ 963.03 million by 2030 to register 6.8% CAGR during 2022-2030.
In terms of component, the Europe automated test equipment market is segmented into industrial PCs, mass interconnect, and handler/prober. The industrial PCs segment held 57.9% share of Europe automated test equipment market in 2022, amassing US$ 702.66 million. It is anticipated to garner US$ 1,107.16 million by 2030 to expand at 5.8% CAGR during 2022-2030.
By end user, the Europe automated test equipment market is divided into consumer electronics, automotive, medical, aerospace & defense, IT & telecommunication, and other industries. The consumer electronics segment held 30.5% share of Europe automated test equipment market in 2022, amassing US$ 370.59 million. It is projected to garner US$ 598.74 million by 2030 to expand at 6.2% CAGR from 2022 to 2030.
Based on country, the Europe automated test equipment market is categorized into Germany, France, the UK, Italy, the Netherlands, and the Rest of Europe. Our regional analysis states that Germany captured 31.3% share of Europe automated test equipment market in 2022. It was assessed at US$ 379.45 million in 2022 and is likely to hit US$ 666.23 million by 2030, registering a CAGR of 7.3% during 2022-2030.
Key players operating in the Europe automated test equipment market are Advantest Corp; Anritsu Corp; Averna Technologies Inc; Chroma ATE Inc.; National Instruments Corp; SPEA S.p.A; Teradyne Inc; and Test Research, Inc., among others.
- In May 2023, Averna Technologies Inc acquired ProNES Automation GmbH to expand its presence in Germany.
- In April 2022, Teradyne Inc shipped 7,000th J750 semiconductor test system to Nations Technologies to help Nations Technologies to verify test programs critical for the automotive market.
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