Failure analysis is a technological approach to ensure the proper functioning of various systems. It involves data collection and subsequent analysis to identify the cause of failure in any system and is of paramount importance to industries. Failure analysis is leveraged across diverse industries such as energy & utility, healthcare, manufacturing, and others. The latest report published by Market Research Future (MRFR) identifies various key macro and micro-economic factors affecting the global Failure Analysis Market over the forecast period of 2017-2023. MRFR has projected the failure analysis market to reach a valuation of USD 8.57 Bn at a CAGR of 8% over the forecast period.
Consumers demand high-quality products and services which have compelled various enterprises to implement failure analysis to their processes. The manufacturing sector extensively employs failure analysis techniques to prevent product malfunctions, prevent hazardous incidents, and insure product life. Failure analysis is also vital to process development as it helps in the achievement of process reliability, lower lifecycle cost, and prevent customer dissatisfaction. The growing complexity of circuit design and decreasing size of circuits has propelled the adoption of failure analysis in the semiconductor industry. This has also favored the growth of the failure analysis market.
Cost curtailment remains a key area of concern for multiple industries which leads to escalated demand for failure analysis. Failure analysis aid enterprises quantify the effects and impacts of failures which helps in the prevention of economic losses incurred due to system failure.
On the flipside, failure analysis market is still in its nascent stage which presents an array of challenges to the market growth. Lack of standardization in testing methods and high initial investment remain major impediments.
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The global failure analysis market has been segmented based on equipment, technology, testing, and application.
- By equipment, the failure analysis market has been segmented into Scanning Electron Microscope (SEM), Focused Ion Beam (FIB), Transmission Electron Microscopy (TEM), Dual Beam FIB.
- By technology, the failure analysis market has been segmented into SIMS, EDX, CMP, FIB, BIM, and RIE.
- By testing, the failure analysis market has been segmented into material testing, Non-Destructive Testing (NDT), and physical testing.
- By application, the failure analysis market has been segmented into material science, bioscience, and industrial & electronics.
Some of the prominent players in the global failure analysis market are Carl Zeiss SMT GmbH (Germany), FEI Company (U.S.), JEOL Ltd. (Japan), Hitachi High- Technologies (Japan), Tescan (U.S.), EAG Inc. (Luxembourg), Intertek Group plc (United Kingdom), Raytheon Company (U.S.) among others.
By region, the failure analysis market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific.
The presence of major market players in North America gives the region leverage over others. Owing to the augmenting demand for advanced failure analysis in the region, and the presence of robust R&D facilities in the region, the market is exhibiting substantial growth.
The APAC failure analysis market is anticipated to register the highest CAGR over the forecast period. Burgeoning semiconductor industry which makes extensive use of failure analysis solutions and surging adoption of failure analysis solutions across various industry verticals to prevent adverse incidents are boosting the growth of the APAC market.
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