According to estimates, the global in-circuit test market would increase at a CAGR of 5% to reach over US$ 1.1 billion in 2022. By 2032, it is anticipated that in-circuit test sales will reach more than US$ 1.8 billion.
The demand for in-circuit testing is anticipated to increase due to the growing use of printed circuit boards (PCBs) in consumer electronics, cloud computing, telephony, and Internet of Things (IoT) devices.
Additionally, increased in-circuit test use to identify electromagnetic interference in electronic components is anticipated to boost sales in several industries, including wireless communication systems and medical equipment.
Growing demand for high-density interconnect (HDI) technology is predicted to open up the attractive potential for in-circuit test industry participants.
Sales in the market are anticipated to rise due to the growing demand to find PCB component faults to save maintenance costs and promote production efficiency.
Additionally, the use of in-circuit diagnostics to increase the efficiency of smart home appliances and digital items like smartphones, tablets, and wearables is gaining in popularity. This is predicted to accelerate market expansion over the evaluation period.
In addition, the manufacturing industry is projected to increase the use of in-circuit diagnostics in the coming years to reduce the danger of board damage from misaligned placement.
Key Learnings:
- According to portability, the compact segment is predicted to rule the market, growing at a 4.6% CAGR.
- The consumer electronics application is expected to have the largest market share, with sales increasing at a CAGR of 4.6%.
- It is predicted that the Asia Pacific would develop significantly over the coming years as a result of increased consumer electronics sales in nations like South Korea, China, and India.
- Due to the growth of the automotive, aerospace, and defense industries in the United States, North America is anticipated to dominate the market.
Competitive Environment:
Leading companies in the worldwide in-circuit market are concentrating on improving their production techniques to obtain a competitive edge and boost revenues. Additionally, they are expanding its product line to broaden its global reach.
To grow their businesses in the upcoming years, several important companies are utilizing inorganic techniques like partnerships, acquisitions, and collaborations.
For example,
- The IPC APEX EXPO 2020 Innovation Award was given to Test Research, Inc. (TRI), a top supplier of test and inspection equipment, in February 2020 for its Multicore In-Circuit Tester known as the “TR5001 SII Inline LED.”
- Test Research Inc. created a new PCB assembly testing and inspection solution in September 2019 that includes functional testing (FCT), 3D CT automated x-ray inspection (AXI), 3D solder paste inspection (SPI), 3D automated optical inspection (AOI), and high-performance in-circuit testing (ICT).
In-circuit Test Market Key Players: Teradyne, Text Research, Keysight Technologies, Hioki E.E., SPEA
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