Automated Test Equipment Market Size Worth USD 1.47 Billion By 2024 | Technavio
The new automated test equipment market research from Technavio indicates Negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Automated Test Equipment Market 2020-2024 (Graphic: Business Wire)
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"One of the primary growth drivers for this market is the Growing Use of Smartphones," says a senior analyst for the Industrials industry at Technavio.
The electronics industry is growing at an unprecedented rate, with a significant increase in the exports of electronic goods in countries like China, Japan, and Singapore. There has been a stagnant increase in sales and shipment of smartphones, which promotes the growth of the test and measurement equipment. The increasing sales of electronic goods and the growing smartphone market will foster the demand for automated test equipment, boosting the automated test equipment market growth.
As the markets recover Technavio expects he automated test equipment market size to grow by USD 1.47 billion during the period 2020-2024.
Automated Test Equipment Market Segment Highlights for 2020
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