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Semiconductor Test Equipment Market Segmented By Non-Memory, Memory, Discrete Technology in Consumer electronics, Industrial, Manufacturing, Automotive, Telecommunication, Defense and Aerospace Application
Ongoing advancements in communication, consumer, and computing devices have increased the use of semiconductor test equipment. Semiconductor technology has made an impressive progress over the last decade due to rapid transformation in consumer electronic devices.
With the growing need for energy efficient devices, the demand for semiconductor equipment is increasing rapidly, which is the primary factors expected to impel the growth of the semiconductor test equipment market during the forecast period.
Furthermore, the growing demand for smart devices in developed and developing countries is also projected to support the growth of the semiconductor test equipment market.
Semiconductor test equipment are designed to meet the growing need from the manufacturers, integrator, and developers of the SoCs (system on chip), integrated circuits, and other semiconductor equipment. Semiconductor test equipment or IC tester basically an integrated system is designed to transfer electrical signal to a semiconductor device. Moreover, the increasing digital transformation of various industry verticals and growing penetration of internet of Things are the key growth factors of the semiconductor test equipment market.
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Drivers
Penetration of consumer electronic devices and connected devices is increasing significantly in most of the the countries. Due to these factors connected devices and electronic devices manufacturers are focusing on end-to-end testing solutions to improve the quality, which is a key growth factor of the semiconductor test equipment market. Increasing adoption of integrated circuits and system on chips in various automotive vehicles is positively supporting the adoption of semiconductor test equipment.
Rising adoption of advanced connected components in the automotive industry is one of the key growth factors of the semiconductor test equipment market across the globe. In addition to this, the automotive industry will be a target industry for the semiconductor test equipment manufacturers in the semiconductor test equipment market.
Additionally, increasing penetration of smart connected devices and industrial components coupled with technological advancements of the various industry verticals are projected to be the major driving forces of the semiconductor test equipment market. In parallel, increasing applications of semiconductor test equipment in various semiconductor facilities is impelling the growth of the semiconductor test equipment market.
Challenges
Strict government policies related to emission of harmful gases is projected to negatively affect the growth of the semiconductor test equipment market during the forecast time period. On the other hand, rapidly changing technologies in connected and consumer electronics devices are expected to hamper the growth of the semiconductor test equipment market across the globe.
Worldwide financial uncertainties, government policies, and instability of the economy in developing regions may hinder the growth of the semiconductor test equipment market worldwide.
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The prominent players in the global semiconductor test equipment market are Cobham plc, Advantest Corporation, CREA (Collaudi Elettronici Automatizzati S.r.l.), Advantest Corporation, Astronics Test Systems, Inc., Chroma ATE Inc., Lorlin Test Systems, Inc., LTX-Credence Corporation, Marvin Test Solutions, Inc., National Instruments Corporation, Roos Instruments, Inc., STAr Technologies Inc., Tektronix, Inc., and Teradyne, Inc., among others.
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By geography, North America region is creating potential and new revenue models for the semiconductor test equipment manufacturers. Ongoing technological advancements in the region and digital transformation of various industry verticals in the U.S. and Canada are the key growth factors of the semiconductor test equipment market in North America.
Furthermore, North America is the early adopter of industrial revolution 4.0 technologies and systems, which is also supporting the demand for semiconductor test equipment in North America. Due to presence of global automotive companies in Europe, the semiconductor test equipment market in European countries has huge market potential and expected to create potential growth opportunities for the semiconductor test equipment manufacturers.
Moreover, Asian countries such as India, China, and Japan are taking initiatives to promote foreign direct investment and making favorable business conditions for the investors.
These factors are positively supporting the growth of the semiconductor test equipment market in Asia Pacific. In parallel, due rising adoption of connected and smart devices, the MEA and Latin America region will create new business opportunities for the semiconductor test equipment manufacturers.
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
