The automated testing equipment market is projected to witness a CAGR of 3.83% during the forecast period to reach a market size of US$4.095 billion by 2023, increasing from US$3.269 billion in 2017. Automated testing equipment are used at various stages of manufacturing and testing to determine and certify that a product is ready to be commercialized as per the existing industry standards. The surge in manufacturing activities coupled with stringent government regulations regarding product quality across various industry verticals are some the major factors driving the demand for automated testing equipment. Geographically, the Asia Pacific region is projected to witness substantial growth in the coming years owing to favourable government policies and increasing investment in manufacturing activities.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the pressure sensors value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are ATS Automation Tooling Systems, Inc, MEL Systems and Services, Ltd., AMETEK Programmable Power, Automated Testing Solutions, Inc., and National Instruments among others.
The automated testing equipment market has been analyzed through following segments:
By End-User Industry
Aerospace and Defence
IT and Telecommunication
Middle East and Africa