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The automated test equipment market is anticipated to thrive at a CAGR of 9.8% between 2023 and 2033. The market is anticipated to cross a market share of US$ 23.76 billion by 2033 while it is valued at US$ 9.33 billion in 2023. Car Chassis Dynamometer
The growing manufacturing and corporate spaces adopting ioT systems are thriving the demand for automated test equipment. The demand for cost and time-reducing elements in the market is expected to play a vital role in the growth of the automated test equipment market.
Advanced machinery that works on high-speed networks and is autonomous is also adopting faster testing measures such as automated test equipment. The growth is attributed to the expanding component markets like cloud computing, AI, and machine learning
The growth of new connected devices along with higher penetration of 5G networks are fueling people to adopt IoT services. Hence, it fuels the demand for automated test equipment.
Advanced device manufacturing units functioning with high-end research have flourished in the automated test equipment market.
Lower cost and time-saving prospects delivered by these ATE units are helping the manufacturing units.
Expanding automotive industry fuels the demand for vehicle testing systems that automate machinery systems. The growth of healthcare wearables has also fueled the demand for ATE units as it freshly trends in the market.
The key competitors focus on building reliable, faster, cost-reducing technology for the end-users. Key competitors also merge, acquire, and collaborate with other companies to increase the network range, connectivity, supply chain, and distribution channel. The key players in the market are: Teradyne, National Instruments, Chroma ATE, Astronics Corporation, Star Technologies, Roos Instruments, Marvin Test Solutions, Cohu, Advantest Corporation, and OMRON Corporation.
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