Automotive Radar Market Size is Expected to be Worth More than USD 5 Billion by 2024 | Research Report by Hexa Research

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The automotive radar helps in reducing traffic jams by assisting drivers with an efficient decision support system. Automotive radar’s ability of indirectly increasing the fuel efficiency by streamlining traffic control is further anticipated to fuel the “automotive radar market” demand over the foreseeable future.

The global automated test equipment market is expected to witness substantial growth over the forecast period on account of the increasing complex designs and need for effectual testing. Automated test equipment offers better features and amplified device integration. Growing demand for improved performance designing, functionality and bandwidth are expected to drive the market and foster industry growth in the forecast period. Furthermore, adoption of high-level product differentiation by the manufacturers creates high complexity demand in automated test equipment designs. Growing demand for power management optimization to increase battery life for consumer electronic devices is expected to drive the ATE market growth over the period.

Increasing smartphones, tablets and system on chip (SoC) based products is developing demand for better functionality. Rising demand for semiconductors owing to smartphones proliferation is anticipated to foster the automated test equipment market.

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Key techniques in the automated test equipment market are wafer probing, burn-in and final test. Strong demand for testing is expected to spur the demand for ATE market. Benefits of semiconductor testing are reduced cost, improved flexibility, modularity, miniaturization of components, technical capability and reliability. High-level integration such as RF and wireless technology and product development are recent norms fostering the demand for effective testing solutions. Furthermore, technological advancements and growing consumer demand for better product functionality coupled with rising competition in the market have fostered the need for effectual testing solutions.

Integrated circuits that are embedded on a wafer have to be tested comprehensively before they are manufactured. This leads to the need for automated test equipment in the wafer and chip manufacturing industry. ATE importance also comes into play when integrated circuits are packaged as the automated test equipment results are accurate and quantifiable which help manufacturers meet stringent regulatory norms. These products are largely used in end users products such as televisions, music players, digital cameras, and computers. The technologies in these sectors keep changing constantly leading the automated test equipment manufacturers to keep on innovating on a regular basis.

The automated test equipment market is classified on the basis of product into memory, non-memory and discrete. Memory semiconductors are majorly used in the memory chips of smartphones. They have also used in module manufacturing assembly houses. Memory chips are inexpensive and portable and used in the service industry such as computer service technicians and RMA departments. Non-memory semiconductors have various applications making them less volatile than the memory semiconductors. Discrete automated test equipment is manufactured in-house as they are expensive and companies do not invest in expensive test equipment for inexpensive components. Telecom industry is a major consumer for automated test equipment as it ensures high quality. Consumer electronic is another industry which contributes to the ATE market owing to its applications in computers and smartphones.

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Asia Pacific market is expected to grow exponentially over the forecast period owing to numerous semiconductor industries in the region coupled with changing consumer need and advancement in technology. Heavy investment in the defense sector along with developing telecommunication sector is anticipated to drive the market over the period. Europe is expected to grow owing to the increasing population and technological advancement in the automated test equipment industry. The market of Latin America is expected to witness sluggish growth owing to the low consumer income and standard of living. As the economy is developing, the market is expected to grow eventually. The Middle East & African market is expected to grow on account of developing a concept of middle class in the African region and the developing interest of investors in the region.

Major contributors to the market include Advantest Corporation, Cobham Plc., Astronics Test Systems Inc., Chroma ATE Inc., LTX- Credence Corporation, Lorlin Test Systems Inc., Marvin Test Solutions Inc., National Instruments Corporation, Roos Investments Inc. and Teradyne Inc.

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