The global failure analysis market is expected to grow at a compound annual growth rate of 8.06% over the forecast period to reach a market size of US$12.367 billion in 2026, from US$7.188 billion in 2019.
Failure analysis is the timely analysis of possible ways of malfunctioning electrical, mechanical, and electronic components of a system to prevent safety or environmental hazards. This analysis is done in almost every industry to ensure workers’ safety from future accidents. Rising investments in R&D activities along with the falling prices of sensors are raising the demand for failure analysis equipment in the semiconductor industry. Growing demand for automated material handling is further driving the demand for failure analysis equipment. The burgeoning global food and beverage industry will show a high market growth of failure analysis equipment owing to the rising concerns over product testing and quality check procedures. Moreover, the consumer electronics industry will foresee a growth due to the increasing demand for smartphones, tablets, laptops, etc., and will aid in the development of the failure analysis market.
Asia-Pacific holds the largest market share of the global failure analysis market due to the growth of semiconductor technologies in these countries. Moreover, the increasing investment in the food & beverage industry is also expected to play a major role in the market growth, in the region. However, factors such as high costs of failure analysis equipment will hinder the market growth during the forecast period. Lack of regulations in lower developing nations is also expected to hinder market growth.
The market is expected to surge in the coming years, due to the rise and growth of the semiconductor industry, worldwide. According to the data given by the Semiconductor Industry Association (SIA), the total semiconductor sales were around US$412.1 billion in the year 2019. Logic and memory were the biggest semiconductor sales by category, each totaling around US$106.4 billion in the year 2019. Countries such as Taiwan, The United States, and China are expected to play a major role in the market growth. Taiwan Semiconductor Manufacturing Company has been one of the leading players in the semiconductor market. Failure analysis is a critical and imperative part of semiconductor production and testing. It has been the process to determine why and how a semiconductor device has failed and how it could be prevented in the future. Tessolve, one of the key players in the market, has a semiconductor lab facility in which the company provides services, such as failure analysis, device package, focused ion beam, and others. The rising investment in the semiconductor industry, intending to identify loopholes and failures is also expected to play a major role in the market growth, during the forecast period.
The market is expected to surge in the coming years, due to the rising demand for failure analysis in the food & beverage sector. The global food & beverage sector had been witnessing healthier growth since the past decade and has been projected to continue. The rising urbanization, increasing demand for high-quality food and beverages among Millennials, and rising urbanization are expected to play a major role in the market growth. According to the World Bank, 68% of the global population is expected to reside in urban areas by the year 2050. It has become imperative for the companies working in this sector to identify major problems regarding production, testing, and others. The BRC Global Standard for Food Safety requires the food and beverages companies to identify the major root cause of any concern and non-conformity and implement and introduce the necessary and needed corrective action. Furthermore, the increasing regulations by the FDA and the European Commission, regarding the production and quality of the food product are also expected to play a major role in the market growth, in the coming years.
Major companies have been investing a significant sum of capital into the market, intending to deliver novel and advanced solutions for their customers.
|Market size value in 2019||US$7.188 billion|
|Market size value in 2026||US$12.367 billion|
|Growth Rate||CAGR of 8.06% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Technology, Equipment, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Rood Microtec, Neugen, NanoScope Services Ltd., EAG Inc., MASER Engineering B.V., Aptasic SA, FORCE Technology, IBM Services, Presto Engineering Inc., Element Materials Technology|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the failure analysis market size by 2026?
A1. The global failure analysis market is expected to reach a total market size of US$12.367 billion in 2026.
Q2. What are the growth prospects for the failure analysis market?
A2. The failure analysis market is expected to grow at a CAGR of 8.06% during the forecast period.
Q3. What is the size of global failure analysis market?
A3. Failure Analysis Market was valued at US$7.188 billion in 2019.
Q4. Which region holds the largest market share in the failure analysis market?
A4. Asia-Pacific holds the largest share of the global failure analysis market due to the growth of semiconductor technologies in these countries.
Q5. What factors are anticipated to drive the failure analysis market growth?
A5. Rising investments in R&D activities along with the falling prices of sensors are raising the demand for failure analysis equipment in the semiconductor industry.
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