Electronic Testing Trends for 2021
Where once the pandemic seemed to be stalling industrial markets worldwide, the months closing out 2020 saw significant improvements. The global Automotive Test Equipment market is anticipated to rise considerably between the years 2021 to 2025. Globally, the automotive test equipment market was valued at $2.3 billion in 2019 and is expected to reach an annual growth rate of 4.5% from 2020 to 2027. Industrial electronic testing plays a vital role in ensuring that vehicles perform optimally. For several years, the market for automotive test industrial electronic testing systems has witnessed exponential growth. The following are trends predicted for 2021:
Increase in Electric Vehicles
The rising demand for electric vehicles has sparked the need for more and better testing equipment. Due to increasing demands regarding the output of carbon emissions, hybrid and electric vehicles are leading companies away from conventional fuel-driven vehicles. Most countries have stringent regulations and norms for improving fuel efficiency and reducing vehicle emissions. This has caused an increased awareness of emission norms and efficiency standards when testing vehicle performance.
High Demand for Skilled Workers
With the growing demand for high-performance vehicles worldwide, the need for skilled labor and the diagnostic tools required is expected to grow. Also expected to continue is the lack of skilled labor to perform these advanced tests.
Emerging Key Players
As with all industries in 2021, there have been partnerships, mergers, acquisitions, and contractual agreements, focusing on research, development, and ways of introducing new technologies into an already over-crowded market. Look for these names to be making headlines with advancements and mergers in the industrial electronic automotive testing markets:
- Delphi Technologies
At TPI, we bring you the Power of Connection. Our electrical test equipment includes engineering, manufacturing, assembly, custom software and hardware design, prototype development, and real-time web-based reporting. We tailor our testing solutions to our client’s requirements. For more information about TPI, contact us and see how we can help you.