In-Circuit Test Market Registering Robust Growth as Application of PCBs Burgeons in Consumer Electronics

Compact In-Circuit Test Demand to Increase at 4.6% CAGR in Global In-Circuit Test Market by 2032

The in-circuit test market study published by Fact.MR offers a detailed analysis and compelling insights on key drivers expected to influence demand and sales in the market. This study also covers latest trends, challenges and opportunities through key geographies and segments including type, portability, and application for the forecast period 2022-2032.

NEW YORK, April 12, 2022 /PRNewswire/ -- The global in-circuit test market is estimated to reach nearly US$ 1.1 Bn in 2022, registering growth at a CAGR of 5%. Total sales of in-circuit tests are projected to surpass US$ 1.8 Bn by 2032.

Increasing use of printed circuit boards (PCBs) in consumer electronics, cloud computing, telephony, and IoT devices is projected to augment the demand for in-circuit test.

Also, rising adoption of in-circuit tests to detect electromagnetic disturbances in electronic components is projected to increase sales across various industries including medical equipment and wireless communication systems.

Subsequently, growing usage of high-density interconnect (HDI) technology for the assembly of PCB is estimated to create lucrative opportunities for the in-circuit test market players.

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Rising need to identify flaws in the components of PCBs to reduce maintenance cost and to improve product efficiency is expected to increase sales in the market.

In addition to this, growing demand for smart home appliances and digital devices such as mobile phones, tablets and wearables is boosting the applications of in-circuit tests to improve the efficiency of these products. This is anticipated to fuel the growth in the market over the assessment period.  

Besides, to eliminate the potential risk of damage to the board caused by misaligned placement in the manufacturing sector is likely to propel the usage of in-circuit tests in the forthcoming years.

Key Takeaways:

• By portability, the compact segment is estimated to dominate the market, exhibiting growth at 4.6% CAGR.
• Based on application, the consumer electronics segment is predicted to hold maximum share in the market, with sales growing at a CAGR of 4.6%.
• Asia Pacific is estimated to exhibit significant growth due to rising sales of consumer electronics in countries such as India, China, and South Korea.
• North America is expected to lead the market owing to the expansion of the automotive, aerospace, and defense sector in the U.S.

Growth Drivers:

• Growing demand for phones, TVs, laptops, and other consumer electronic products increases the need for faultless PCBs. This, in turn, is expected to drive sales of in-circuit tests.
• Increasing adoption of cloud computing and the Internet of Things (IoT) is propelling the application of HDI technology for PCBs assembled in connected devices. This will continue spurring demand for in-circuit tests.

Restraints:

• Lack of standardization in connecting protocol is projected to restrain the demand for in-circuit test.
• Increasing variation in prices of raw materials used in the in-circuit test is anticipated to limit sales in the forthcoming years.

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Competitive Landscape:

Leading players in the global in-circuit market are focusing on advancing their manufacturing processes to gain competitive edge as well as to increase their profits. In addition to this, they are also improving their product line to strengthen their global footprint.

Some of the key players are entering into inorganic strategies such as collaborations, acquisitions, and partnerships to expand their business in the forthcoming years.

For instance,

• February 2020: Test Research, Inc. (TRI), which is a leading provider of test and inspection systems, received the IPC APEX EXPO 2020 Innovation Award for its Multicore In-Circuit Tester named "TR5001 SII Inline LED."
• September 2019: Test Research Inc. developed a new PCB assembly testing and inspection solution that combines functional tester (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).

Key Companies Profiled by Fact.MR

• Keysight Technologies
• Teradyne
• SPEA
• Text Research
• Hioki E.E.

More Valuable Insights on In-circuit Test Market

A detailed study on global in-circuit test market offers a 360-degree view of the current market scenarios to help readers understand which factors will influence sales. It also offers an unbiased analysis for the forecast period of 2022 to 2032, highlighting key drivers, latest trends, opportunities, challenges, and other factors encouraging growth in the in-circuit test market through detailed segmentation as follows:

By Type:

• Analog
• Mixed

By Portability:

• Compact
• Benchtop

By Application:

• Aerospace, Defense & Government Services
• Consumer electronics
• Medical Equipment
• Wireless Communication
• Others

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa (MEA)

Key Questions Covered in the Fleet Management Market Report

• Which region is expected to exhibit significant growth during the forecast period?
• Which are the key drivers bolstering the demand in the in-circuit test market?
• At what rate will the global in-circuit test market grow until 2032?
• What will be the value of in-circuit test market in 2022?
• Which factors are limiting sales in the global in-circuit test market?

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