The rising demand for industrial machines, consumer electronics, and manufacturing tools are essential to the growth of in-circuit tester revenues and product development. The in-circuit tester market is estimated to rise with a steady growth rate of close to 5% CAGR from 2021 to 2031. Availability of automated in-circuit testers and growing adoption into emergency electronics systems will emerge as a major area of application in the market during the coming decade. Development of handheld instrument choices and high levels of complexity in modern consumer electronics support the applications of in-circuit testers.
“In-circuit testers display superior operational efficiency when compared to conventional testing methodologies owing to better reliability, durability, and purchase costs. In-circuit testers are designed to cut down maintenance costs, wear and tear, improving service life. Also, increased accuracy in the detection of manufacturing defects in applications with
industrial testing will drive growth for the foreseeable future,” says the FMI study.
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In-Circuit Tester Market – Primary Takeaways
- The demand for miniaturized printed circuit boards will generate revenue from compact in-circuit tester products.
- Consumer electronics applications hold a major market share, with demand for telecom, computer and household appliance applications.
- China, Japan, and India are high potential markets supported by increased disposable incomes and expenditure on consumer electronics.
In-Circuit Tester Market – Growth Factors
- Rising investments into consumer electronics production facilities contribute to demand of in-circuit testers.
- Rising application in smart electronics with AI and machine learning capabilities will drive opportunities in the industry.
- New investments into the renewable energy sector contributes to the revenue streams for manufacturers.
In-Circuit Tester Market – Major Constraints
- High costs associated with in-circuit testers in terms of manufacturing lifecycle and product development hold back growth opportunities.
- Lack of awareness in developing countries is a key challenge holding back adoption rates in the sector.
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Expected Impact on Market by Coronavirus Outbreak
The covid-19 pandemic has had a moderate effect on the global in-circuit tester market. Reduced consumer spending on consumer electronics in addition to restrictions imposed on domestic and international trade has limited production
and sales of in-circuit testers during the crisis period. Industrial setting and utilities maintenance applications will aid in partially offsetting losses during this period.
The market is expected to reflect a steady recovery through 2021 which can be accounted for by the relaxation of restrictions on industrial activity in many parts of the world. Frequent investments into telecom infrastructure will also generate revenue growth opportunities, in the near future.
Prominent manufacturers operating in the in-circuit testers market include but are not Columbia Electronik AB, Teradyne Inc., Seica S.p.A., Keysight Technologies, Konrad GmbH, SPEA S.p.A., Kyoritsu Test System Corporation, Test Research Inc., Acculogic Inc., Digitaltest GmbH, and Hioki E.E. Corporation.
Major players in the in-circuit tester market are largely involved in product development and launch strategies with a focus on developing end-user industry specific applications to widen the consumer demographic.