PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1301538
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1301538
The global in-circuit test market is estimated to grow from USD 1.2 Billion in 2023 to USD 1.4 Billion by 2028; it is expected to record a CAGR of 3.6% during the forecast period. The growth of the in-circuit test market is attributed to the include the increase in the sales of consumer electronics for consumer electronics appliances such as televisions, laptops, smartphones. Also, smart medical devices used in the medical sector requires test & measurement process with high accuracy, which leads to an increase in the demand for in-circuit test.
"Analog In-Circuit Test: The largest segment of the in-circuit test market, by type "
Based on type, the in-circuit test market has been split into two types: analog in-circuit test and mixed in-circuit test. The analog in-circuit test segment is expected to be the largest segment during the forecast period. Analog in-circuit testers account for a greater share of the total in-circuit test market due to the ease of use and the accurate measurement of multiple parameters. The growth in the analog in-circuit test market is attributed to the low cost and the wide area of its application. China is the major consumer electronics industry in terms of production and deployment, thus there is significant demand of analog in-circuit test.
"Benchtop segment is expected to be the fastest growing segment during forecast period based on portability"
By portability, the in-circuit test market has been segmented into compact and benchtop. The benchtop segment is expected to lead the in-circuit test market during the forecast period owing to increasing demand for compact printed circuit boards (PCBs) for smart phones, TVs, and other home appliances. The benchtop in-circuit testers are used in applications such as automotive electronics, industrial electronics, consumer, military, and communication. The growth in the benchtop segment can be attributed to the increased demand for advanced consumer electronics.
"By application, the consumer electronics segment is expected to be the largest segment during the forecast period."
Based on application, the in-circuit test market is segmented into consumer electronics, aerospace, defense, and government services, medical equipment manufacturing, automotive, and energy sector. The Medical equipment segment is expected to be the second largest segment the in-circuit test market during the forecast period owing to the rapid technological advancements in home-use devices such as glucose monitors, insulin delivery devices, nebulizers, and oxygen concentrators. The ability of healthcare professionals to support home-based patients through the use of remote communication technologies contributes to the choice for home and self-care. These trends are projected to boost the medical equipment and testing markets in the future.
North America is expected to be the second-largest region in the in-circuit test market
North America is expected to be the second-largest in-circuit test market during the forecast period. The market in this region is expected to be driven by the demand from the wireless communications and aerospace & defense sectors. In North America, it is projected that in circuit test equipment will be widely used and implemented in wireless communication and network applications. Also, because of the rise of the electrical sector, which will increase sales of in circuit test devices, the North American area controls the largest share of the total in circuit test market.
By Company Type: Tier 1- 55%, Tier 2- 25%, and Tier 3- 20%
By Designation: C-Level- 35%, Director Levels- 30%, and Others- 35%
By Region: Europe- 35%, North America- 25%, Asia-Pacific - 25 %, South America - 10%, Middle East & Africa - 5%.
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The in-circuit test market is dominated by a few major players that have a wide regional presence. The leading players in the in-circuit test market are Teradyne Inc. (US), Test Research Inc. (TRI) (Taiwan), Keysight Technologies (US), Hioki E.E Corporation (Japan), Kyoritsu Electric Corporation (Japan) and SPEA S.p.A. (Italy). The major strategy adopted by the players includes new product launches, contracts & agreements and, investments & expansions.
The report defines, describes, and forecasts the global in-circuit test market by type, portability, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the in-circuit test market.
Key Benefits of Buying the Report
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include Teradyne Inc. (US), Test Research Inc. (TRI) (Taiwan), Keysight Technologies (US), Hioki E.E Corporation (Japan), Kyoritsu Electric Corporation (Japan), and SPEA S.p.A. (Italy) among others in the in-circuit test market.
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)**