LONDON – The global in-circuit test market is estimated at $1.2 billion in 2019 and will increase at a CAGR of ~9% during the forecast period of 2019-2029, according to Future Market Insights.
This growth is driven by the increasing usage of in-circuit testers in automotive electronics, consumer electronics, medical equipment, defense and aerospace electronics, power generation, storage and distribution, network and communication, computer and peripheral devices, and industrial electronics.
Automotive has shifted to manufacturing electronic vehicles, as a result of technological advancement in wireless technology and growing efforts to reduce vehicle emissions, says the research firm. In addition, manufacturing electronic equipment for military aircrafts such as highly modified power drive controls and defensive aid systems is rapidly increasing, thereby raising the demand for in-circuit testers.
Regions such as East Asia and North America are anticipated to hold a prominent revenue share of the in-circuit test market. Moreover, East Asia is seeing increasing sales of automotive electronics and consumer electronics. Increasing demand for electronic vehicles in East Asia, due to increasing carbon emission and depletion of fossil fuel resources, is expected to fuel the in-circuit test market.
By product, the multimode flying probe tester is expected to hold a prominent value share of the global in-circuit test market. Based on portability, the benchtop in-circuit tester is expected to hold the majority share. Vacuum fixture will continue to remain preferred among the end-use sectors.