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. The demand for smaller and slimmer devices, such as smartphones, wearables, and IoT devices, has fueled the adoption of High-Density Interconnect (HDI) technology. As the complexity of PCB designs increases with HDI, the need for in-circuit testing becomes crucial to ensure reliable functionality and performance.
Key Market Players
Prominent companies in this market include Teradyne Inc. (US), Test Research Inc. (TRI) (Taiwan), Keysight Technologies (US), Hioki E.E Corporation (Japan) and Kyoritsu Electric Corporation (Japan).
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This report segments the in-circuit test market based on type into Analog In-Circuit Test and Mixed In-Circuit Test. Analog is expected to hold the largest share of the in-circuit test market during the forecast period. The growth in the analog in-circuit test market can be attributed to its low cost and the wide area of its application. However, demand for mixed segment is on the rise due to the rising investments in the semiconductor industry especially in North America region.
In-circuit test Market Ecosystem
Based on portability, the in-circuit test market is segmented into Compact and Benchtop. Compact segment is expected to hold the largest market share during the forecast period. The surging adoption of advanced electronics in sectors such as aerospace, automotive, and consumer electronics that require compact printed circuit boards (PCBs) is one of the key reasons for the growth of the compact in-circuit test market. The Benchtop segment is the fastest growing segment during the forecast period owing to the advantages it offers such as elimination of hand probing, accurate measurements, fault detection, and incorrect component insertion.
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This report segments the in-circuit test market based on application into six categories: Consumer Electronics, Aerospace, defense, and Government Services, Medical Equipment Manufacturing, Automotive, Energy Sector, and Wireless Communication. Consumer Electronics is expected to hold the largest market share during the forecast period. With the rapid adoption of 5G enabled smartphones, smart televisions, smart gadgets, and other home appliances, there is a significant sales in the in-circuit test equipment in consumer electronics industry. Further, the increasing production units of consumer electronics in China, and Japan following increasing dependence on electronic gadgets for performing regular household works is expected to propel the growth of in-circuit test market in Asia Pacific.
