The global in-circuit test market is projected to reach USD 1.4 billion by 2028 from an estimated USD 1.2 billion in 2023, at a CAGR of 3.6% during the forecast period. In-circuit testing (ICT) is a method used to test electronic components and printed circuit board assemblies (PCBAs) while they are still in the operational circuit. It is a type of functional testing that is performed during the manufacturing process to ensure the quality and functionality of the assembled PCBAs. ICT is used in a wide range of applications such as automotive electronics, aerospace & defense, consumer electronics, telecommunication, medical equipment, industrial electronics, and energy industries. Growing demand for automotive electronics and consumer electronics along with increasing adoption of high-density interconnect (HDI) technology for printed circuit board (PCB) assembly are expected to drive the demand for in-circuit test market.
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The Mixed In-Circuit Test segment, by type, is expected to grow at the highest CAGR during the forecast period.
Based on type, the in-circuit test market has been segmented into analog in-circuit test and mixed in-circuit test. The Mixed in-circuit test segment is expected to be the fastest growing segment during the forecast period. The mixed signal circuits are generally cost-effective solutions, which are widely used in modern consumer electronic applications. Mixed signal in-circuit test is expected to be the fastest market in the future because of the increasing use of custom chips having mixed signal technology, i.e., a combination of analog and digital circuitry on the same chip. Mixed signal in-circuit test is widely used in the North America region as the investments in the semiconductor industry is increasing year-on-year in the region.
The consumer electronics & appliances segment, by application, is expected to be the largest segment during the forecast period
This report segments the in-circuit test market based on application into six segments: consumer electronics & appliances, aerospace, defense, and government services, medical equipment manufacturing, automotive, and energy sector. The medical equipment segment is expected to be the second largest segment during the forecast period. Owing to the variation in heartbeats and the firing of an electrical synapse, it is highly recommended to test and calibrate the equipment in the medical field, before shipping it to the end user. The increasing demand for diagnostic equipment to detect all kinds of diseases in their early stages boosts the medical equipment industry.
Asia Pacific is expected to be the largest region in the in-circuit test market
Asia Pacific is expected to be the largest in-circuit test market during the forecast period. The Asia Pacific region, comprising major economies such as China, India, Japan, South Korea, and Australia, are witnessing significant growth for consumer electronics owing to increased demand for household appliances and smartphone users. Rising investments in automotive industry is expected to support market grow in Asia Pacific as it can attribute to the increasing demand for automotive electronics, which in turn increases the demand for the in-circuit test.
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Key Market Player
Some of the major players in the in-circuit test market are Teradyne Inc. (US), Test Research Inc. (TRI) (Taiwan), Keysight Technologies (US), Hioki E.E Corporation (Japan) and Kyoritsu Electric Corporation (Japan). The major strategies these players adopt include new product launches, contracts, agreements, partnerships, and investments & expansions.
