Global Failure Analysis Equipment Market Size Forecast 2024 - 2033
19 Dec, 2024
What Is The Overview Of The Global Failure Analysis Equipment Market?
Failure analysis equipment refers to the systematic investigation and examination of components or processes to determine the root causes of failures or malfunctions. Failure analysis equipment provides valuable insights into the performance and behavior of materials and components under different operating conditions.
Failure Analysis Equipment Global Market Report 2024 provides data on the global failure analysis equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Failure Analysis Equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Expected Annual Growth Rates And Market Size Estimates For The Global Failure Analysis Equipment Sector?
The failure analysis equipment market size has grown strongly in recent years. It will grow from $8.21 billion in 2023 to $8.92 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to expansion of consumer electronics, quality control requirements, regulatory compliance, and demand for cost-effective solutions. The failure analysis equipment market size is expected to see strong growth in the next few years. It will grow to $12.5 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to expansion of IoT and connected devices, emergence of AI and machine learning, demand for high-reliability electronics, and globalization of manufacturing. Major trends in the forecast period include integration with big data analytics, cross-industry collaboration, environmental sustainability, enhanced user interface and software, and security and data protection.
Which Factors Are Boosting Growth In The Failure Analysis Equipment Market?
The growing adoption of IoT devices is expected to propel the growth of the failure analysis equipment market going forward. IoT devices are interconnected physical devices embedded with sensors, software, and other technologies, allowing them to collect and exchange data over the internet. IoT devices streamline workflows, automate repetitive tasks, and monitor equipment performance, leading to increased efficiency and productivity. Failure analysis equipment helps identify the underlying reasons for system failures, malfunctions, or breakdowns in automated processes to ensure that components and assemblies meet quality standards. For instance, in February 2024, according to a report published by The GSMA, a UK-based trade body that represents the interests of mobile network operators worldwide, licensed cellular IoT connections are expected to increase from 3.5 billion in 2023 to 5.8 billion IoT connections in 2030 with an 8% CAGR. Therefore, the growing adoption of IoT devices is driving the growth of the failure analysis equipment market.
Get Your Free Sample of the Global Failure Analysis Equipment Market ReportWhat Key Areas Define The Segmentation Of The Global Failure Analysis Equipment Market?
The failure analysis equipment market covered in this report is segmented –
1) By Equipment: Scanning Electron Microscope, Transmission Electron Microscope, Focused Ion Beam System, Dual - Beam Systems
2) By Application: Industrial Science, Material Science, Bio Science, Electronics
3) By End-Use: Semiconductors Manufacturing, Fiber Optics, Biomedical And Life Science , Nanotechnology And Nanomaterial, Polymers
How Are Emerging Trends Reshaping The Dynamics Of The Failure Analysis Equipment Market?
Companies in the failure analysis equipment market are developing high-force solutions like real-view high-resolution camera systems to enhance accuracy and efficiency in failure analysis. These systems include advanced features such as color analysis and streamlined interpretation. For example, in September 2023, Hitachi High-Tech Science Corporation, a Japanese equipment manufacturer, launched the DMA200, a dynamic mechanical analyzer with an upgraded Real View high-resolution camera system. The DMA200’s thermal analysis capabilities are particularly useful for industries needing detailed material evaluations. Its enhanced camera system simplifies interpretation with color analysis and result videos, making it ideal for failure analysis and abnormal result investigation, facilitating easy visualization without extensive coding.
Which Region Has The Fastest Expansion In The Failure Analysis Equipment Market?
North America was the largest region in the failure analysis equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the failure analysis equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.